I see no one has actually really answered your question. This is so normal.
Okay, when you receive the cashier's check at the signing, you staple it to the HUD-1 Settlement Statement.
(The excuse about not carrying a stapler is moronic - my stapler has been with me for 5 years - it's a SwingLine, MODEL 99PL, and you can stand on it and not bother it).
Secondly, take the DUPLICATE of the Cashier's Check and advise the borrower(s) to keep it safely with their loan docs as there could be a loss by someone handling the package (to you and I that's some nincompoop at the title company).
Thirdly, write the CC check number onto your Confirmation Sheet so it will always be with you.
Do not meekly stand by and get whipped around by someone calling and telling you that the particular check is lost. Ask immediately for a SUPERVISOR. When he, she or it comes on the line, ask the Supervisor if there are "staple holes" on lthe left hand side of the HUD-1. They have to say yes (unless someone has done a dandy job of covering it up). Advise them you are extremely careful about NOT losing any checks of any kind and that someone HAD to have unstapled it.
You at this point, tell the Supervisor (he/she/it) needs to call the borrowers and advise them that they will need to take the duplicate to the bank and have that check cancelled AND reissued. Also remind them to email or fax to the borrowers, a return shipping bill to get the replacement check sent back, unless the bank wants to reimburse them for a wire transfer. Title will have to provide W/T instructions.
It's simple, but it takes time out of one's busy day. |
