What's up with this latley .. You give them their standard Acord 90 day binder with all coverages spelled out and they say... We need to see the cost guide, or ... The binder is only for 90 days we need to see a year policy ( duh! You will when you finally close and it gets issued) ... Or ... The premium amount needs to specify for a year (Duh! That's what ANNUAL premium means) ... Or the best one so far.. We can't fund until you rewrite your HO5 binder and specify it covers wind and hail! Ugh! What's up with lenders these days?
Why Are Mortgage Co. So Demanding...
- Thread starter GXR2
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They're probably just ignorant. You'd think they'd know better, but some don't. Also, some are EXTREMELY picky because of the regulations... I used to be a mortgage banker so I can speak from personal experience on both sides of the coin.
Can understand why you're venting though. It can be a real PITA.
Can understand why you're venting though. It can be a real PITA.
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Yep- they have to have a. year of coverage on it in order to sell the loan now. I use 27 w/ year premium in the remarks... Actually I use the remarks also as the invoice w/ carriers name & mailing address so I don't have to screw w/ it.
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Is there a "like button" on this forum? As in I like the poster and agree with the problem!
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