Posted by Scriba/NM on 1/16/13 6:46pm
Msg #450720

A Most Interesting Phone Call

A borrower called me today, regarding her signing on the 4th of January. The loan had not funded and so she called her LO to find out why. She was told that "she had not signed the HUD-1" and that they would be sending her a new one. She was very puzzled. (No one called me about any unsigned HUD-1).

Oddly, this HUD-1 was the subject of two phone calls to the lender during signing, because she would not sign it until the figures on it were explained to her satisfaction. Once she received her explantion, she said "Now I can sign this, because I now understand why they charged these items" to which we all smiled as she signed. The documents were re-checked after the signing, in front of the borrower, and then were placed into the overnight envelope and dropped at a manned location. Fine. They were delivered on time with no delays. All is good in Whoville - or so I thought.

So, she received this "replacement HUD" to be signed. She decided to compare it with the copy that I had left with her in her package. Strangely, the fees were now escalated by approximately $2,000.

She decided to call me today, and of course her loan stood out as she threw a mild fit at being charged for two items (which precipitated the two phone calls from the signing) and she, her husband and I all clearly remember her signing the original HUD-1.

Questions abound, as she will be calling everyone remotely involved with this loan which is looking somewhat "unusual" at this point. There could still be problematic situations developing in this day of fast-paced refinancing and not everyone is always 100% honest......unfortunate, but true. If more develops from this situation I'll let everyone know. The lender is a company that I've never even heard of before. Just an FYI.

Reply by anotaryinva on 1/16/13 7:24pm
Msg #450725

Wow, unusual yes. I would call your hiring party to let them know that the BO contacted you. Our job is finished when we leave the signing and drop the docs. My parting words with Bo's is always, nice to meet you if you have any questions DON'T call me, call your LO.

You should be paid regardless.

Reply by HisHughness on 1/16/13 11:56pm
Msg #450769

***My parting words with Bo's is always, nice to meet you if you have any questions DON'T call me, call your LO.***

Hmmmm...my last words to borrowers are "If you have any questions and can't reach your loan officer, feel free to call me up till 10 o'clock any night of the week. If I can't answer the question, I will either get an answer, or put you in touch with someone who can."

Actually, now that I contemplate it, those aren't my last words. The LAST thing I say is, "If this lender does a customer satisfaction survey, and if there is a section on it for the signing agent, the correct word you will be looking for is spelled T-E-R-R-I-F-I-C."

Reply by emilysigns on 1/17/13 10:24am
Msg #450792

Re: Agree with Hugh

I always put the borrower's copy in an envelope and write all important contact info and reference numbers on it and staple my business card on the lower corner of the envelope.

When I give them their copies I always tell them " this is everything you will need to reach your lender, this is what you will need for your escrow company, and I put my card right here so you always know who to blame." (insert nervous chuckle here).

I let them know I am always happy to help.

Reply by Buddy Young on 1/16/13 10:43pm
Msg #450758

I would call them and tell them that the original HUD1 was signed and put in the package and tell them why you remember. I recieved a call once about the ack missing from the DOT. My reply to that was " bull shit" if it's not there you lost it. The caller wanted to send me the first page and have me attach a new ack. I told him to send me the signature page and I would take care of it. I never heard another word from them.

Reply by Sha/CA on 1/16/13 11:55pm
Msg #450768

Good thinking, Buddy. Great reply. n/m

Reply by Sha/CA on 1/17/13 12:03am
Msg #450774

Re: Good thinking, Hugh. Great reply. n/m

Reply by Doris_CO on 1/17/13 2:20am
Msg #450783

Scriba, are you saying the closing fees increased by $2000.00 which affects the proceeds to the borrower?

Reply by Scriba/NM on 1/17/13 4:20pm
Msg #450898

Yes, you are absolutely correct. They jacked up the closing fees, saying they "miscalculated" the title insurance. Boo hoo. Too bad. Then, they inserted obscure fees like "coordination fee: $600" and "commitment binder fee $300" and "escrow fee $295" and on and on. She is awaiting a call today to hear this new explanation, as they told her she "didn't sign the HUD-1 NOR the Itemization sheet. The list keeps growing. It's like they are making up things and hoping that the borrower will swallow the line of garbage they are spewing. This lady, however, is a business owner, owns numerous properties and isn't going to take any of this lying down. She's already talking FTC and FBI.