Please see our post on lender subordinations. Bank of America subordination checklist has changed a bit, so it is updated today.
November Refi closing schedule:
Last signing day is Tuesday,November 24th, for fundings on Nov. 30th. Borrower’s sign no later than November 24th for rescission period. Thanksgiving day does not count for rescission period nor does Sunday.
Saturday Night Live humorous video, but also quite the statement.
Here are some recent “zingers.”
Borrowers signed on the line next to the one provided. (resulted in a re-sign)
Provide proof that the borrowers are not married.
Slight variance in borrower signature from others. (resulted in a re-sign)
Borrower to sign all doc’s in presence of a Notary (even those docs not requiring a Notary acknowledgment)
(Singe Borrower) Please amend [...]
A brief tutorial on how to get detailed tax information including tax payment history by searching the County online records website (Snohomish County is shown, but principle applies to MOST Counties that have online records. Click the title of the this post for the video.
Below is a screenshot of where the interest rate is located on the Settlement Statement (HUD-1 Form). It can easily be missed and many people are unaware that it is on this form.
Thanks Laura & Troy! It makes all the hard work of the escrow business worth the long hours, days and weekends.
-Legacy Escrow Staff
How to appeal your property taxes
In Snohomish County you must send in the petition to the Board of Equalization within 60 days of receiving your tax valuation change notice in the mail -OR- by July 1st, 2009, whichever occurs LATER. Check the county you live in to verify if this is similar to your county [...]
Legacy Escrow continually adds value by providing subordination services as part of our complete escrow closing service. This time saving task saves loan processors precious time, a real value in assisting loan officers in creating smooth transactions and closing on-time!
Subordination Checklist from various lenders:
This is a brief list of some of the more common lenders [...]
Once your transaction has been funded by your lender and the transaction is recorded at the county, your transaction is closed and we will disburse your proceeds via mail, wire transfer (your bank may charge you), or you can pick up your check at our office. When you sign your documents with escrow, [...]