While it is true that the "lender's document package" is sent to escrow with a single file, many times there are other documents that the loan originator sends to escrow separately that gets added to the signing package. This is true for both mortgage brokers and bank loan officer origination.
There are multiple functions that go on within lenders. Most often the docs are drawn in a doc department that has no physical connection to the office where the loan originator works and often the LO will send the additional paperwork to the EO, including the original GFE, HUD-1, copies of tax returns for a live wet signature, letters of explanation and the like that the doc department does not even know exists.
I spent 20 years as a mortgage broker and my partner spent 20 years in escrow. I think we know the process and paper flow. |
