Please add sections to this wiki with useful information about the process, so that people don't have to ask the same questions over and over, or scan the whole thread for answers!
Notary and closing
Here is what you can expect or ask for from my experience:
1. New pen for signing wiped thoroughly
2. Pen stays with you after signing
3. Only material they will touch would be your ID
4. ID would be wiped and returned back
5. Can expect gloves to be worn
6. Signing can happen in your front yard or in your garage
7. If you have a Costco table then you can sit on either sides to maintain distancing
8. Masks might be recommended given new guidelines
9. Plus discuss with the notary!!
expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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expiredGreenworld123 posted Dec 08, 2019 02:27 PM
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i applied with LoanCabin yesterday but no call back from Samantha yet. today their site is quoting 2.375 but with points.
Now, I do have to give them demerits for not disclosing their underwriting fee until I got the LE. So it isn't all rosy. And I concur with shahhere that unless they are providing you a LE or a complete fee breakdown, saying "X rate & Y lender credits" generally leaves the impression that there are no longer fees/origination charges.
But getting an LE from them isn't hard.
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Now, I do have to give them demerits for not disclosing their underwriting fee until I got the LE. So it isn't all rosy. And I concur with shahhere that unless they are providing you a LE or a complete fee breakdown, saying "X rate & Y lender credits" generally leaves the impression that there are no longer fees/origination charges.
But getting an LE from them isn't hard.
And I'm all too familiar with lenders who have a separate disclosures team, like WM does. Such lenders rarely give you a LE right away. It is typically 48-72 business hours so that the loan officer doesn't "waste" their time on the "compliance" paperwork vs. working the deal. If you want the loan officer to send you one immediately, then you will have to make it worth it to them - which means a full app as you are likely more committed. If you don't want to do that, it is NOT that you won't get an LE, but it will be done by the disclosures team and thus, not the same day.
And I'm all too familiar with lenders who have a separate disclosures team, like WM does. Such lenders rarely give you a LE right away. It is typically 48-72 business hours so that the loan officer doesn't "waste" their time on the "compliance" paperwork vs. working the deal. If you want the loan officer to send you one immediately, then you will have to make it worth it to them - which means a full app as you are likely more committed. If you don't want to do that, it is NOT that you won't get an LE, but it will be done by the disclosures team and thus, not the same day.
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If you want a good rate, than give them good information to help them make a good decision. It is a small effort of your part to get them to perform on their side.
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