Posted by Karla/OR on 10/23/12 5:28pm
Msg #439967

Curious about . . .

There are docs I see in nearly every package (see below). I'm asking if these docs (that do not require a signature) are necessary to show the BO's at the signing table? (Do I even need to state the obvious that these docs are also in the BO's package I leave behind with them)

1) Security Instrument Cover Letter
2) Settlement Statement (HUD-1) Supplement (at the bottom of the page it says "For Closing Agent use only.")
3) A letter to the BO thanking them for choosing that particular bank/lender
4) Mortgage Fraud is Investigated by the FBI
5) General Frequently Asked Questions

Thank you!!!!!

Reply by GOLDGIRL/CA on 10/23/12 6:41pm
Msg #439974

FWIW: I generally never show them docs that do not require a signature ... unless it's somehow to their benefit ... such as a first payment letter with just-in-case coupons attached for the first one or two payments. Of course, the first payment letter is one of the Big Three docs they see as soon as we sit down to sign. Some of the no-sig docs are only for the escrow officer to sign that funds have been disbursed or that they have followed lender instructions. Those get buried.
Sometimes I may show them the impound disclosure that shows the cushion lenders keep for taxes and insurance. Occasionally, I run across an attorney-type who wants to see every doc whether it has any real bearing on the loan or not. But mostly, they soon give that up when they see it's nothing really important.
I know somebody posted on NR recently that they don't even print no-signature docs for the borrowers' copy. I wouldn't go that far, but ....
FAQ is good if they want a definition of APR and finance charges, but other than that I skip right over it.

Reply by ToniK on 10/23/12 6:48pm
Msg #439978

I do not show them any docs that doesnt require their signature. Its a waste of my time to have them look over a doc that is for closing agent of escrow.

Mortgage Fraud FBI doc at least on my end requires signatures. So to be clear, if the document doesnt have BO names or the words Borrower or Affiant on it, I do not include that in my presentation of the docs.

Reply by ikando on 10/23/12 8:25pm
Msg #440027

That FBI Mortgage Fraud doc is one of my favorites--so Fancy!! But if someone was going to commit fraud, in my opinion, 1) they would have no problem signing a document they were going to ignore, and 2) it should have been presented and signed at the beginning of the process, not the end.

Reply by Karla/OR on 10/24/12 1:42am
Msg #440066

Thanks everyone for your most helpful posts!!!!!!! n/m