Here is a checklist of important things that need to be done on a closing. By listing the items, it will make the closing a little easier and we’ll make less mistakes. Once I see that the closing documents are error free after the closing, then we will not need to meet at a mutual location; you will then be able to drop the signed documents without my review. Below is the list of things that are very important to remember. Also, please read the confirmation for further instructions.
If the below requirements are not met, then the loan will not fund, the Title Company will lose the transaction and we won‘t get paid!! If the documents are not as neat and correct as possible, then the company will not call us again. Then we will be out of business!! These are legal documents and we are representing the Title Company so we need to be as careful as we can for accuracy.
CONFIRM THE APPOINTMENT: When you accept the closing you need to call the borrowers to confirm the appointment. When you call to confirm the appointment, inform the borrowers that you need a copy of their ID‘s. Make sure they understand you need a "Copy" to send with the loan documents. Confirm the address for the signing because sometimes the signing address for the appointment is different than the address on your confirmation. It is also a good idea to exchange cell phone numbers and alternate phone numbers if they have not already been provided
PHOTO ID’S: "Always" get a photocopy of the borrowers "Valid" ID’s. If the borrowers forget and they do not have a copy machine, ask them to fax it to you. If you are going to meet with me before dropping the docs you can have them fax to me @ (210) 682.9585. There are some companies that require 2 ID's but I will let you know on your confirmation under the Special Instructions section if is required. Title Companies "Require" this, we cannot send docs without the copy.
BORROWERS ARE TO SIGN “EXACTLY” AS DOCUMENTS ARE TYPED -- No Exceptions Unless Their Name Is Spelled Incorrectly. VERY IMPORTANT! If the borrower's name is spelled incorrectly, put one line through the name and have them initial, then sign.
PRE-DATED DOCUMENTS: When the documents are already dated, please just leave them the way they are. The "Only Time" you are required to change a date is if the "Right To Cancel Dates" are incorrect. If the "Right to Cancel ' date needs to be changed, then the date of signing needs to changed as well as the NLT date at the bottom of the document. I have included a “Recession Calendar” for your reference. "Always Have The Borrowers / Signers Initial Any Changes "Unless" it is a change where you are putting your Notary Seal / Acknowledgement, then only you initial those changes!
INK COLOR: Some companies want us to use blue ink, some want black ink and some don’t care! We need to be sure that we use the correct ink color! Be sure to Follow / Read the instructions carefully! Highlight that are or make a note at the top of your confirmation if that helps you remember. The loan will not fund if this requirement is not met. I will let you know on the confirmation under the “Special Instructions” section. A good rule is if it is not mentioned, then use blue ink. Blue is safe!
