Posted by FormerEO on 1/31/13 3:02pm
Msg #453297

Why are B of A’s packages loaded with tons of instructions?

It is rather simple from my perspective. Long ago B of A made the decision to dump their mortgage brokerage origination business taking everything in house.

When they went this route, they hired unskilled, new loan originators and thought they would train them to do the job simplistically. So they are used to dealing with the lowest skilled originators and that mindset is likely carrying through to their loan doc packages.

For the life of me I will never understand the need to start every set of docs with 38 pages of instruction sheets and explanations. DO THEY REALLY THINK SIGNING AGENTS ARE GOING TO READ ALL THAT JUNK? I hope not.

Reply by Patti Corcoran on 1/31/13 3:08pm
Msg #453298

Re: All those trees!!! n/m

Reply by Pro Mobile Notary on 1/31/13 4:57pm
Msg #453318

Re: B of A’s packages almost always late

Seems to us like every one of the B of A doc packages we get for B of A signings always come in at the last possible minute to complete printing and signing.

Last week we had one poor borrower go through the roof the second time the signing appointment had to be cancelled due to a lack of loan docs. The first on Wed. the second on Fri.

When escrow asked us to cover this same signing again today we asked if they had loan docs yet. When they said no we said, "Get back to us when you have the docs in hand. We are not going to reschedule this one again until you have the docs. We hope you understand our position."

Escrow understood, got back to us when the docs came in (1 hour before the signing time) and we got it done.

Reply by MW/VA on 1/31/13 5:05pm
Msg #453321

I don't print "closing instructions" anymore for BofA or

others, like Suntrust or WF. I was also told the other day I don't need to print 2 copies of the Amortization Schedules. Yeeesshhh--those can be 16 pages too. It's a waste of time, paper, toner, etc.
BTW, ForrmerEO, the closing instructions are really for the tc's and not for us. The borrower doesn't need to see those either.

Reply by Marian_in_CA on 1/31/13 6:16pm
Msg #453332

Re: I don't print "closing instructions" anymore for BofA or

Where it gets annoying is when you get a package where, within all the closing instructions, you have various random places where the borrowers are asked to initial or sign... now *that's* a headache.

Had one of those this weekend. The husband was just shaking his head. He picked one up and said, "WHy the *&$^ do I have to initial this? It says NOTHING. Literally...nothing!"

He was right... it was almost entirely blank except for a header with their names on it and a it said, literally, "LAST PAGE OF ESCROW INSTRUCTIONS" -- that's it, with borrower initial lines at the bottom, right below space for the EO's signature.

It was as 200+ page package and it was a FHA Streamline. Heh... not. The wife just said to me, "Girl, you do not get paid enough to deal with this."

She's so right!

Reply by Gary Boehm on 1/31/13 10:39pm
Msg #453384

Re: I don't print "closing instructions" anymore for BofA or

Interesting that you mention the Amortization Schedule - UNLESS it requires a signature on the last page I only print one copy and hand it to the borrowers. I haven't sent a copy back to Title in almost two years now and never a complaint. Also, anything that says Master Instructions or Closing Instructions, etc. I print a set to go back with the package but not for the borrowers set. Saves me (and the trees) about a ream of paper a month!

Reply by ikando on 2/1/13 8:06am
Msg #453396

Re: I don't print "closing instructions" anymore for BofA or

Gary, your comment about closing instructions reminded me of something I've wondered about. Aren't the closing instructions for title? And doesn't title send the docs to us? Why, if that's true, do we need to print instructions for their own employees? What do I not know?