Signing last night and halfway through came to the Employment Verification document. This is one the borrower signs confirming that their employment hasn't changed since they started the process, that they are still working for the same employer. Borrower signs no problem, then states "Oh wait. I started a new job Monday. I guess I'll call my contact tomorrow morning and talk with them." WHAT? I got on the phone and called the title company. After title posed a couple of questions to the borrower (same company?-no different; same field?-yes; same job title?- yes) I was told to stop the signing because they would need to verify employment. OK, I get it. I think the borrower understood too, but at the same time didn't.
So now will there need to be an extension on the rate lock which is no biggie I'm told. But the real frustration for the borrower is she has to contact her financial institution to see if the mortgage payment due this Friday that she cancelled-per title because the paperwork was being signed-can be reversed and the payment made. And she feels that there will be more "hoops to jump through". All because the borrower got a job that is closer to home making about $1.50 more an hour. And apparently the job is a "transfer" type of situation between divisions and she had the opportunity to wait until after paperwork signed to transfer but didn't because she wanted the extra pay and shorter commute.
Oh well, I don't think in the end the borrower saw it quite the same way but I know I did the right thing by contacting title. |
