450,000 borrowers at risk....

Discussion in 'Economy' started by AmericasBrave58, Jan 23, 2010.

  1. AmericasBrave58
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    AmericasBrave58 Retired USN Nurse(Vietnam

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  2. Oddball
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    Oddball BANNED Supporting Member

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    Looks like the latest housing price bubble is about to pop.....Like some of us didn't see that coming.
     
  3. goldcatt
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    goldcatt Catch me if you can! Supporting Member

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    All I can say is, I work with a lot of these big lenders. We send in documentation all the time.

    Every document is sent directly to the assigned closer va e-mail, read receipt requested and followed by a phone call verifying it was received. We then follow up with a fax and another phone call verifying the fax was received.

    The next day we get a call that the bank still needs the documentation. We go through it all again. The next day often it happens again. And this is not to modify a contract, but to get a loan to close so everyone including the bank can get paid.

    And they wonder why there's a backlog and a documentation problem!
     
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  4. RodISHI
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    RodISHI Gold Member

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    Reading the articles it looks more like inept banking services to me. Banks are the ones not properly taking care of documentation. Must be that "Standard Banking Practices" are back at work employing substandard peeps to get the job done or are they just "guestimaters" and "guessing" they do not need to do proper paperwork while these people are trying to keep their homes?
     
  5. dilloduck
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    dilloduck Diamond Member

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    Do you get hot and sweaty after doing that for a whole day ? :tongue:
     
  6. goldcatt
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    goldcatt Catch me if you can! Supporting Member

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    It's all the screaming and yelling at the incomptent boob on the other end of the phone that does it, I think. :redface:
     
  7. dilloduck
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    dilloduck Diamond Member

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    As big lender, I'm offended by that unfair portrayal of my secretarial staff
     
  8. goldcatt
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    goldcatt Catch me if you can! Supporting Member

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    I know all about your "secretarial staff". :eusa_hand:
     
  9. dilloduck
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    dilloduck Diamond Member

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    Gay men need jobs too ya know.
     
  10. goldcatt
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    goldcatt Catch me if you can! Supporting Member

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    I guess the midgets were the only ones you could catch when you chase them around the desk.
     

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