Join  |  Login  |   Cart    

Notary Rotary
Just PoliticsLeisure
Welcome to the Notary Talk General Discussion Forum. Before posting, please read the

Re: Universal Document Express
Posted by Joan-OH of ? on 5/12/05 2:46pm Msg #37360
1. Lots of documents, 120+ pages when you finally get all the title docs.

2. Most of the time the loan is a 2 fixed/28 adjustable. At least half that time, the borrower has only been told it was fixed without anyone telling them it starts adjusting after 2 years. When the loan officer is called, they are told "OH don't worry about it. We'll refinance in 2 years and waive all the fees". Of course there's a 3 year prepayment penalty and when it comes down to it, there is NOTHING in writing saying the fees will be waived on a refinance or that prepayment will not apply. I have never seen one where the fees have been waived.

3. The LAST one I did - the borrower worked in the lending industry and was from out of town. He told me he didn't feel comfortable signing documents when he hadn't seen the GFE yet. - Yes, the GFE (Good Faith Estimate) is supposed to be sent out within 3 days of application.

After the last one, I decided the liability risk was not worth it. When the borrowers go belly up and a lawyer gets a hold of it, they aren't even going to know who the signing service is, but MY name is on the Mortgage. Any smart lawyer would throw out a wide net, including me.

4. The docs are relatively easy, just a lot of them. If you've done a half dozen of these, you can do them in your sleep.

PrevNextReturn to General Discussion    Post a Public Reply to this MessageSend Author a Private Message

Messages in this Thread
 Universal Document Express - AngelNJ on 5/12/05 5:54am
 Re: Universal Document Express - NotaryPa on 5/12/05 7:06am
 Re: Universal Document Express - PETER LUSBY on 5/12/05 9:01am
 Re: Universal Document Express - NotaryPA on 5/12/05 9:24am
 Ameriquest - PETER LUSBY on 5/12/05 9:27am
 Re: Universal Document Express - Sylvia_FL on 5/12/05 11:47am
 Re: Universal Document Express - SarahBeth_CA on 5/12/05 12:17pm
 Re: Universal Document Express - Sylvia_FL on 5/12/05 8:30pm
 Re: Universal Document Express - Mary Ellen on 5/12/05 7:54am
 Re: Universal Document Express - Chantillyn on 5/12/05 9:55am
 Re: Universal Document Express - CaliNotary on 5/12/05 10:50am
 Re: Universal Document Express - SarahBeth_CA on 5/12/05 12:19pm
 I ditto SarahBeth////Re: Universal Document Express - AD on 5/12/05 1:22pm
 Re: Universal Document Express - Joan-OH on 5/12/05 2:46pm
 Re: Universal Document Express - SarahBeth_CA on 5/12/05 2:51pm
 Re: Universal Document Express - CaliNotary on 5/12/05 5:49pm

Find a Notary   Notary Supplies   Terms   Privacy Statement   Help/FAQ   About   Contact Us   Archive  
Notary Rotary™ is a trademark of Notary Rotary. Copyright © 2002-2024, Notary Rotary, Inc.  All rights reserved.
500 New York Ave, Des Moines, IA 50313.