Got a buyer’s package with two closing disclosures and different numbers on each. And the buyer has to wire cash to close. So I ask “Should one of the Closing Disclosures be excluded since they don’t match and buyer has to send cash to close?”
We’ll check into and get back to you.
Oh - okay. You do that. And while you’re at it increase my fee since I caught that for you.
The week got loaded up I am happy to say. But I am pretty sure there is only one CD required.
Guess I’ll find out. Hopefully before I show up at the signer’s tomorrow.
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I had a closing last week that had 4 cd’s in the package. They all appeared to be the same. Not sure why they wanted 4 signed copies, but that isn’t really my concern. I had them sign all 4 and sent them back.
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When they are identical I have them sign them all as well. When they are different you can’t very well describe them as the final numbers now can you?
I expect I will see one removed.
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There should be a date and time that the CD was printed if you look at the details probably on the first page. You can also have the signer pull up their CD from the disclosure period of 72 hours prior to the signing. from the lenders portal,
I’ve seen them put previous CDs and kind of like previous applications once they’re updated then it just becomes a copy in the file.
I believe it’s page two will tell you at the bottom what the disclosed fees were on the CD and then the now current fees that caused the CD to be redisclosed.
Although I can’t guess or describe to the signers why there are multiple, I can point to those numbers on the document to alert signer , showing them most likely why they were reprinted I have them sign all of them.
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Coincidentally, I had a complex package last week that, among other things, had 8 CDs included in the set. The signers did not know why there were multiple CDs and they elected not to call the lender or title to find out why. They just decided to sign them all. I decided not to involve myself with choosing which CDs to sign so I let them go ahead and sign them all and let title/escrow/lender work it out.
My general position on matters such as this is when no conclusion or decision can be reached and no title/lender/escrow makes a decision, I call the signing service and apprise them of the situation and take their direction. I never get involved with guessing or trying to interpret any printed matter or hearsay that will only get me in trouble later.
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Turns out the buyer knew the numbers had changed, signed them both and had cash to close that matched the 1st CD. Guess it was fine. Bought a place in AZ sight unseen based on a relative’s assurance it was the bomb.
Well all rightee then.
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