Posted by MW/VA on 10/24/12 10:51am
Msg #440103

Venting--LSI pkgs. I've never worked for LSI, so when these

2 pkgs., came through from an ss I was surprised.
I'll get flack for this, but I HATE most pkgs. that come from CA tc's. There were 3 identity forms, and 2 of those da#m#d "Statement of Information" forms. IMO it's ridiculous to be asking for that at the signing, and should be part of the application process. I'm embarrassed to ask the borrowers to complete those, especially when these signings are running on EOM get-it-done mode.
I think I'll decline them in the future. Too many hoops to be worth the time.

Reply by LynnNC on 10/24/12 10:59am
Msg #440107

If I print early and see there is a Statement of Information, I call the borrowers and ask them to have the information ready. If they can receive a fax, I fax it to them and have them prepare it ahead of time.

Reply by MW/VA on 10/24/12 11:05am
Msg #440110

These were last minute deals--docs at 6 pm for signings

at 7 & 8. IMO we shouldn't be expected to have the borrowers do these at all.
Again, I've only seem them in CA pkgs.

Reply by pan/nd on 10/24/12 11:30am
Msg #440114

Had one of those fool things (Stmt of Identity) in a pkg for a signing yesterday.

Couldn't say much because the LO was sitting right beside me.

But it took the borrowers longer to fill out the dumb thing than it did to sign all the rest of the docs.

Title Co was in Nevada (and so was the property)....docs signed here in North Dakota

But there was not much I could do given the circumstances.

Signing was at 4pm...docs showed up at 3:30pm and borrower was a doctor and not available

prior to 3:45..so could do nothing there.

Stmt of Identity has way more information (IMHO) than is necessary to get the job done.

Never see that form around here (thankfully) unless a western title company is involved

Reply by PegiT_MN on 10/24/12 11:50am
Msg #440117

I have been doing a lot of signings for LSI lately that have included a two page information sheet. I give the first page to the wife and the second page to the husband and tell them to fill it out as completely as they can and then switch with each other and finish filling in the remaining blanks. When it comes to the drivers license information, I call out the numbers to whomever is filling out that portion from the drivers license copies they have provided to me. It may not be a perfect system, but it sure has cut down on the time it takes to complete that pain in the butt form.

Reply by CentralNY on 10/24/12 12:16pm
Msg #440127

Who is the lender with these forms,

I do LSI and have never had one.

Reply by PegiT_MN on 10/24/12 12:20pm
Msg #440128

Provident Funding, Green Tree . n/m

Reply by pan/nd on 10/24/12 12:21pm
Msg #440129

Had one borrower once who hit this form....looked at it........wrote something on it and signed it.


He wrote....."NONE OF YOUR DA*N BUSINESS"


I got paid for the signing...never followed up...but presume the loan funded.

Reply by janCA on 10/24/12 1:02pm
Msg #440138

Wow, I actually like seeing these forms. It gives me time to do quality control on the loan package. If there are two borrowers, I give the Statement of Info, usually to the wife, hand my signing log to the husband for signatures and thumbprint where needed, and then have them switch. I've only had a few complaints. These have been in many loan packages since I started doing signings in the early 2000's. They are not a new document.

Reply by twil4_WI on 10/24/12 4:54pm
Msg #440170

I never get them from LS! unless it is certain lender pckges. They are time consuming, and almost always irritate the borrower. They do not care to write down all of their previous marriages and dates at their closing, and it antagonizes the other spouse. Also, they feel violated to have to write down their last 10 yrs of addresses and employment at a closing.

Reply by MW/VA on 10/24/12 10:10pm
Msg #440216

LOL. That's a great response. IMO this is an invasion

of privacy. They have the app. & we know how many hoops everyone has to jump through & how much documentation is required.
I will stand on my position that this shouldn't be required at the final loan signing.

Reply by jba/fl on 10/24/12 10:17pm
Msg #440219

Re: LOL. That's a great response. IMO this is an invasion

I totally agree. When they say they don't remember dates I say use a year. If don't remember street names/numbers, I say use the city. that usually leaves most with just one city for the 10 years.

Old divorces - over 10 years, ignore. Engineer for 10+ years - one job. I totally like the KISS theory. Never had any kickbacks on these - total invasion and so unnecessary at this point.

Reply by SheilaSJCA on 10/24/12 10:44pm
Msg #440225

The statement of idenity form does serve a purpose! and not

jjust as a time filler when you are doing a final pass thru.
No one is this thread even has a clue what the statement of identity form is used for?Seriously? (except for JANCA, I know she knows her stuff).
How can this be? Aren't you all long time signing agents? No wonder your clients are put out, you don't tell them why it's required , so they and you assume the worst, and you call your self professional signing agents?
I am flabergasted.

Reply by sueharke on 10/25/12 12:54am
Msg #440241

Re: The statement of idenity form does serve a purpose! and not

I do not want to be accused of the UPL because I explained a document incorrectly to someone who was not listening or just pissed off and looking for someone to blame. Until I hear from a qualified lawyer on this forum on the subject, I will continue believing that it is the responsibility of the LO to let the BO know that this form will need to to be completed again and to be prepared to bring the needed information.

I follow the same belief as a CPA. If I am not qualified to perform a service for a client, I say so and recommend another CPA or tax lawyer who is better qualified to resolve his or her issue. It is a lot better than being sued for doing work that I am not qualified to do properly (due to the complexity of the issues).

Reply by Priscilla Witman on 10/25/12 1:09pm
Msg #440320

Re: The statement of idenity form does serve a purpose! and not

The way it was explained to me, and it may be incorrect, is that the statement of identity form is used when a mortgage is sold off. That way, the new servicer doesn't have to bother the borrower again for that information. I think more than likely, they would get bothered again anyway if there is some paperwork missing. I save it for last, when I'm doing my final QC, and just ask that they fill it out as completely as they can.
FWIW, I had to sit down a few years ago and recount all of our old addresses. It was a lot, as we were active duty once upon a time, but it was required for my security clearance. At the same time, I recorded all of my previous employers as well. It was time-consuming, but I have it on my laptop and I just add to it if necessary. When it's crunch time, who can remember all those addresses and phone numbers off the top of their head? JMO and what works for me.

Reply by SheilaSJCA on 10/25/12 10:13pm
Msg #440433

Yes, Priscilla you are incorrect

The reason it is necessary to fill out this form completely, is that the information contained herein will assist the title company to process your escrow more accurately and avoid timely delays. The growing population of California has greatly affected the processing of real estate transactions, in that there are many people with names that are the same or similar to your own. When the title company searches the title of the property in this escrow, they want to make sure that they there are no judgments, bankruptcies, income tax liens or any other situation that may effect you or the property. The information on this form allows them to reject all matters that do not effect you. They try to send it ahead of time, but this doesn't always happen, or the signers forget to send it back.
This is why it is required. It has nothing to do with selling the loan. It is for the title companies internal use only.

Reply by Priscilla Witman on 10/25/12 11:58pm
Msg #440455

Ah well.

That's just what one escrow/title/LO told me. Don't remember which. I don't usually have any problems with people filling it out. They sit there anyway when I do the final QC. Never any real complaints. Good to know what its really for.