Posted by BrendaTx on 10/25/12 9:09pm
Msg #440417

Proud of a borrower today

She is a co-worker who was supposed to close on a refi this afternoon. She brought me her HUD and her GFE. We sat down at a conference table and spread them out and went over them line by line. She thought that the amount showed her paying her escrow amount, plus the escrow amount being rolled into the loan.

Based on what she showed me, I agreed.

It took her four hours to convince the title company and the mortgage broker to listen to her. She said she wasn't signing it. They harangued her all afternoon trying to show her she was just dumb and wrong. They talked over her. They said they were not trying to get to her. Finally, she "went all spreadsheet on them." He he he. They did not realize that she was a very smart lady who manages budgets on 100 million dollar projects.

FINALLY, after being spoon fed a couple of spreadsheets, they got it. She's not signing until they get that extra $4000 pulled back out of her loan. They are scrambling to comply, baby!

Reply by MW/VA on 10/25/12 9:19pm
Msg #440419

Hooray for her! Now, if you were the NSA handling that

it wouldn't have been as much fun to spend all that time arguing over the nos. She is a smart lady indeed to get that settled before she sat down for the signing.
Thanks for sharing a great story. ;-)

Reply by Natacha Joseph on 10/25/12 10:14pm
Msg #440434

Re: Hooray for her! Now, if you were the NSA handling that

Good deal, yes, thanks for Sharing Brenda! Glad the borrower is being proactive in ironing out issues before the actual closing : ) . Ultimately if she's not happy...you know the rest of the saying.

I hear ya' Marilynn. Being an NSA at the closing when something like that occurs is not fun. I get a feeling of dread when I arrive at a signing and see copious notes and calculators at the ready -lol.

Reply by NVLSlady/VA on 10/25/12 10:24pm
Msg #440439

Savvy Borrowers

I love savvy borrowers. Like the one I had tonight. SS called asked for 6:30. Too close to an appt I had for 7:30. They send confirmation after saying they'd check w/bo. Conf comes over with orig time, but I'd already confirmed that half hour earlier would be ok with borrower. Of course, no docs. So I call bo at 6 advising him to check on his loan status with lender. I don't know what protocol is - but I'm not going to look like the bad guy. I don't want to tell him I don't have his docs; so I ask: "Have you reviewed your documents, incl the settlement stmt for your loan?"

"Yes," he answers, "they sent over a disclosure." "You don't have your settlement stmt," I repeat. "No."
Me: Well, please contact your lender.
Now, his concern is a little more evident and he thinks something is wrong with his loan. I try to assure him it's ok. Just contact the lender. He responds thoughtfully, "So you're not going to be here at 6?" "Yes," I tell him, but I don't know if your documents will be there with me!"

That's when he gets IT. He dutifully makes his calls and keeps me in the loop the whole time. Such a patient man. That's not something I want to happen, and I hate when they put us in these positions. But at least our borrowers are smart enough to know what's really going on!

Reply by BrendaTx on 10/26/12 11:11am
Msg #440512

Re: Hooray for her! Now, if you were the NSA handling that

I'm a little rusty. I've gone from HUDs to other fields of play. It took me awhile to spot it.

The lender was like, "Just sign. It won't be final for 3 days."

The "closing fee" for signing at the TC is $230. I told her if she really wanted to shave to the bone on this one, tell them to put my name on there and I would do the notary work, or tell them to pay me and I'd give her the money back. They put her through a lot on this one.

She's thinking that over...depends on how the next HUD looks.