Townsgate closing services

Hi all just checking… what is the Pennymac Assumption? Is it as big as a Pennymac loan pkg? which is pretty big at about180pgs x2! They offered $100. I countered at $150. an hour later they sent it back out again $110. Again, I countered at $150. its for 6:30 pm tonite! What say you?

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Assumptions are buyer and seller usually and a sizeable packet

Oh well, sounds like a Refi, and a large pak. I wasn’t assigned, & I’ll assumed they were a lower bidder & that the lucky notary who under bid me can see the need to counter low bids…know you worth notaries! And remember you still extending the SS credit to owe you for 15, 30, or 45 days or more depending on the company. Have a good weekend y’all and enjoy Father’s Day, with him whoever in whatever capacity he is to you, if he’s a dad!!!

Townsgate is the same as Mortgage Connect. Their offers are now half of what they used to be. We have been discussing this on another thread regarding lowball offers.
Assumption packages can be very large since the only thing that stays the same are the terms. Some people claim it is only 15 pages but I’ve never had an assumption that is less than 100 pp. A lot of the extraneous docs will be title-related since the Mortgage Connect companies have a zillions of notarizations that many other title companies consolidate into one document.


While it “can” be a round-table closing, most of my assumptions don’t involve a property sale and are for a couple getting divorced. Prior terms were so good, the person keeping the house doesn’t want to refinance.


@slcaldwell201 So true, PLUS - in the current tumultuous business environment the company one is awaiting payment from could become insolvent and then that business entity could CHOOSE not to pay for the professional services already successfully provided.

This is an IMPORTANT CONSIDERATION to keep in mind as a business owner extending credit.


FYI: The thread referenced above by @richlandmobilenotary can be accessed here: