Posted by Calnotary on 9/25/13 3:53pm
Msg #485973

Today has been a funny day

First LO for my 2nd signing told me to call him when I get there and show the borrowers the NOTE and he will explain that document to the borrowers.

I called hims and presented the NOTE to the borrowers.

The LO starting by saying that look real close in that document and you will see your monthly plus the impounds for taxes and ins.

Borrowers kept looking in all 3 pages and they couldn't find what the LO was telling them. When they finished talking I showed them the TIL and they just said: Oh this doc was the one he was talking about!!

Reply by Lee/AR on 9/25/13 4:30pm
Msg #485984

LOL...and when said LO is out of a job, why, he'll just become an NSA because he already knows everything about that~~

Reply by Anita Edwards on 9/25/13 6:34pm
Msg #486000

I had an LO last week tell me the non borrowing spouse signs the note but not the mortgage. Sometimes it's so hard to be polite.

Reply by snowflake/PA on 9/25/13 6:36pm
Msg #486001

Had an attorney insist on the same thing. Mentioned that was not correct. He insisted NBS sign. Had to redraw. It was HIS own loan.

Reply by Pauline Evans on 9/25/13 8:38pm
Msg #486009

Wow! That's funny and clearly the LO knows little about his job. SMH!

Reply by 101livescan on 9/26/13 11:34am
Msg #486060

Some LO's are clueless

I had three refinances for one borrower at an escrow office. The LO shows up, and I'm thinking, I'm just going to be passing papers to M&M borrower.

Ok, Mr. B. is pretty edgy. Didn't like the process and is pretty sure he's getting screwed, very suspicious.

I honed in on the settlement statement and showed him his "settlement charges". They were all negative. The lender wasn't charging him a dime, even paid him to do the loans with them.

The LO was completely clueless, couldn't even defend himself. I smoothed those ruffled feathers. Turns out M&M borrower had just taken elderly mother into their home and they were completely stressed over that, which made everything an effort.

I was happy that I could be the catalyst in this. The EO was so busy, files coming out her ears, she came in and heard me speaking with the borrowers and winked, thank God you're doing this and I'm not. High maintenance, both LO and his client.

Some days are like that. Thankfully I also know many LOs who call their clients before the signing and give a complete rundown on costs, credits, etc.