Posted by Randy Crawford on 5/11/13 2:33pm
Msg #469672

Question about "Borrower's Instructions"

Hello, I wanted to confirm how to guide the borrower through the "Borrower's instructions" - in other words, what do I say? It looks like this is instructions technically from the borrower to the escrow officer and the borrower needs to stipulate how they want to recieve money coming to them . . . wife funds vs pick up check, etc.

Does this look right? "on this form, you are being asked to stipulate how you would like to receive funds coming to you . .." (while pointing out the section that gives them their options)?

There is also a section that says the borrower can obtain evidence of hazard insurance from the insurance company. If the field is blank, do I ask the borrower to insert the insurance company information?

Reply by GOLDGIRL/CA on 5/11/13 2:56pm
Msg #469675

Re: Question about "Borrower's Instructions" n/m

Reply by sueharke on 5/11/13 10:39pm
Msg #469699

I tell the BO to ask the LO to explain the form.

Reply by Clem/CA on 5/11/13 10:55pm
Msg #469704

You are not a guide . You are collector of signatures. I say fill in My address and have them make the check out to me, My friends call me "Cash", but that never works! Umm maybe Read the form and fill in the blanks to the best of your ability would be OK? Call your Loan officer sounds good. Sometimes the words Previously submitted escape from my mouth,about the insurance form, but just under my breath, as I am Not an attorney, but also I know I would not be at a signing if the insurance Info was not in the hands of the bearers of paper work already. Beware of the man in the Monkey suit!