topic Re: Closings in Mortgage Loans

Closings

Anonymous — Wed, 04 Jun 2008 15:24:13 GMT

Has anyone EVER closed when they were "supposed" to? I ask b/c our closing has now moved for the 4th time and I'm beyond annoyed. With our first purchase it was moved once (from Friday to Tuesday). I called the title company to find out why it was moved this time and the precloser told me..(GET THIS) that she hadn't sent the package to the seller for approval yet. I asked her why, she said she was waiting on information from my HOA. Ok fine...I call the HOA and ask have they been in touch with the title company and *kazam* NOPE not at all. I'm ready to strangle someone! <--j/k

Re: Closings

Anonymous — Wed, 04 Jun 2008 15:29:29 GMT

The only real reason for a loan not to close on time is if there was a sudden, unexpected change to the loan. Title issues, apparaisal issues, etc. Why a closer would not send the package beats me. I have been in the mortgage business for 16 years and have have not encountered that. It really goes to the originator. He/She should have covered all of the bases before the loan was orginated and submitted for processing. I would call the closers supervisor and find out what is going on.

Re: Closings

Anonymous — Wed, 04 Jun 2008 15:32:50 GMT

I already did.

Our loan is fine...and has had final approval for days now. It's not on our end. We're purchasing a bank owned property and the "seller" needs 5 days to review docs because they wont close a loan in escrow. THAT is like Japanese to me b/c I have no idea what that means, I just know that I find it odd that the person working on our closing isn't doing her job (for the most part) and has the nerve to take Friday and Monday off which only ticks me off more b/c she's had our file since May 15th!

Re: Closings

DallasLoanGuy — Wed, 04 Jun 2008 15:38:36 GMT

these bank reo deals can be a pain. the title company for these banks have guaranteed business and do not seem too interested in customer service.

if i never see another bank reo deal, i might just live a little longer....

Re: Closings

Anonymous — Wed, 04 Jun 2008 15:41:53 GMT

You and me both Dallas..you and me both. lol