Posted by PublicTipic on 12/4/13 3:23pm
Msg #494998

Mortgage Docs ??? Laugh of the day


Hello,

We have a new Reverse Mortgage USA Pre-disclosure appointment on Thursday, 12/5/13 at 2:00pm in xxxxx, MD.

No notarizations and you only print once (borrower copies included).

Fee is $40.

Please let us know if you are available for this signing.

Your immediate response is appreciated.

My REPLY: Please remove me from your database.

Reply by CarolF/NC on 12/4/13 3:30pm
Msg #495001

This is beyond ridiculous

I would think in states where you can charge for travel etc. for GNW you'd be doing that. I can only charge for the notarizations here, but I make more in a day sitting with my stamp on the beach or in the coffee shop than I would with these signings.

Reply by MW/VA on 12/4/13 7:20pm
Msg #495035

That's so crazy. I get $xxx for those because they can take

as long as the final signing.

Reply by Pamela/CA on 12/5/13 12:00pm
Msg #495097

Re: Predisclosure.....

this is a new project by certain TC's....from what I understand, we will act as a 'courier' to pick up this disclosure form that was filled out by potential borrowers of multiple types of loans, Re-fi's reverse, LOC, etc and make sure it is dropped at FedEx or UPS.

Reply by Linda_H/FL on 12/5/13 2:33pm
Msg #495143

Not a new project - just a "renaming" of the old

RESPA signings - the application portion of the loan process

Get the docs, print, go get them signed, pick up copies of required documentation and return to title/loan officer/lender/hiring party.

Same stuff, different name - and I've noticed the last couple I've been offered the page count has been off the charts!! 190+ pages - 50-60 pages of which is the actual application/disclosures and the rest is info for the borrower. And, IMO this practice can cause problems since they're putting it on US to deliver the disclosures and program information to the borrower - which I thought was the LO's job.

JMO

Reply by Pamela/CA on 12/5/13 7:04pm
Msg #495225

Re: Not a new project - Hmmm....not the same project....

The one I meant is that I pick up the 15 page pkg from BO, review for blank spaces, then using the label emailed to me for drop at either FedEx or UPS.... its only $40 job and takes me less than 15 minutes including the drop. If loan is approved, then I have first refusal on the signing when it comes up a few months later. Doesn't sound like what you are doing. This is strictly a service for the Lender client of the TC.