Closing on Thursday

[Latnballer]

I'm closing on my house on Thursday. I hope the lender is ready.
What should I be looking for before signing all the papers.

[Copper]

I would prob look for the pen.

[Copper]

Oh and congrats, im just kinda jealous.

[Yani]

I would prob look for the pen.
lmao
Oh and congrats, im just kinda jealous.
x2. congrats meng!

[jose]

I'm closing on my house on Thursday. I hope the lender is ready.
What should I be looking for before signing all the papers.

what company are you closing with ???

[Eric@TCGMiami]

Look for

YIELD SPREAD PREMIUMS On page 2 of the Closing HUD...

(misc bullshit charges of them trying to scam you out of your money)

aka

YSP

[Latnballer]

lmao

x2. congrats meng!

Thanks!

what company are you closing with ???
You mean which Title/Escrow company?

Look for

YIELD SPREAD PREMIUMS On page 2 of the Closing HUD...

(misc bullshit charges of them trying to scam you out of your money)

aka

YSP

Thanks, I'll be on the lookout.

[Mafia_Insurance]

I would prob look for the pen.
i fucking LOLED Dr. Copper,

[Gil]

Look for

YIELD SPREAD PREMIUMS On page 2 of the Closing HUD...

(misc bullshit charges of them trying to scam you out of your money)

aka

YSP


i thought YSP was always paid on the back-end? at least it was when i was doing mortgages a couple years ago thats how it was?! the only points you'll see up-front on the HUD are loan origination fees, could be wrong..Boosthappy, chime in

[Latnballer]

i thought YSP was always paid on the back-end? at least it was when i was doing mortgages a couple years ago thats how it was?! the only points you'll see up-front on the HUD are loan origination fees, could be wrong..Boosthappy, chime in

:runbarf:
..hehe

Is a cashier's check traceable once it leaves your account, like when the title company cashes it, will I be able to pull an image of their endorsement?

[jose]

Thanks!


You mean which Title/Escrow company?



Thanks, I'll be on the lookout.

aka Which Company ???
..............i work for a very big one you know.....

[Dirtydsm]

:runbarf:
..hehe

Is a cashier's check traceable once it leaves your account, like when the title company cashes it, will I be able to pull an image of their endorsement?
Yes you can

[Latnballer]

Consumer Land Title Insurance Agency, Inc.

[RFFG]

OP, congrats!

But holy fkn lawl copper

:bowrofl:

[jose]

Consumer Land Title Insurance Agency, Inc.

ahhh.. I see CLITA..... lulzzzzzzz

[Eric@TCGMiami]

i thought YSP was always paid on the back-end? at least it was when i was doing mortgages a couple years ago thats how it was?! the only points you'll see up-front on the HUD are loan origination fees, could be wrong..Boosthappy, chime in

Back end = it goes on your mortgage....

Front end = you pay up front.



Regardless it's money you will have to pay one way or another.


Usually it's a bullshit fee that they put in place because it's anywhere from 2-4% of the actual Loan made as a comission that they are inducing.

[Latnballer]

My broker is making 1% alone.
Looks like him and the lender won't be ready for tomorrow. Fuuuuuuuu
We'll see what happens. We already got an extension once.

[Dirtydsm]

My broker is making 1% alone.
Looks like him and the lender won't be ready for tomorrow. Fuuuuuuuu
We'll see what happens. We already got an extension once.

tell them to stop eating crap you know how many times I would call my bank and my closing agent

PFFTTT I got them to close on time

[Latnballer]

Actually I delayed it the first time since I didn't have all the money for the closing.

[rick the ripper]

dope, finally one came through

[Latnballer]

Got a phone call from my realtor. Being pushed till next Wednesday due to my broker not being ready.

[rick the ripper]

Got a phone call from my realtor. Being pushed till next Wednesday due to my broker not being ready.

dun dun dun the latin baller curse strikes again

[danny]

Back end = it goes on your mortgage....

Front end = you pay up front.



Regardless it's money you will have to pay one way or another.


Usually it's a bullshit fee that they put in place because it's anywhere from 2-4% of the actual Loan made as a comission that they are inducing.

:pedo:

no homi

[Eric@TCGMiami]

Got a phone call from my realtor. Being pushed till next Wednesday due to my broker not being ready.

....



hmmmmmm



Sounds like a trap...


They're going to put you in a position stating


"oh we have to close it now or the contract will fall and you loose the house"

be ready for that bomb...

[Latnballer]

They already said ok as long as I paid the association fees for this month. Coldwell banker is using a negotiator to make sure I don't get screwed. Additionally, the concession is on the contract that everything is void if don't get a loan....so its in their benefit to give me time. Shit if I lose the contract I would lose out on my ernest money.

[rick the ripper]

They already said ok as long as I paid the association fees for this month. Coldwell banker is using a negotiator to make sure I don't get screwed. Additionally, the concession is on the contract that everything is void if don't get a loan....so its in their benefit to give me time. Shit if I lose the contract I would lose out on my ernest money.

I hope it works out for you I know youve been going through hell and back just to get a freaking house. its miami I tell you every one in every type of business is shady.

[Boosthappy]

Got a phone call from my realtor. Being pushed till next Wednesday due to my broker not being ready.


Sorry at home dying this week with fever, give me a call anytime with your HUD questions...

P.S. your broker if a fucking idiot

[Boosthappy]

i thought YSP was always paid on the back-end? at least it was when i was doing mortgages a couple years ago thats how it was?! the only points you'll see up-front on the HUD are loan origination fees, could be wrong..Boosthappy, chime in

Mortgage companies have to disclose it, Mortgage lenders dont.

[Latnballer]

Sorry at home dying this week with fever, give me a call anytime with your HUD questions...

P.S. your broker if a fucking idiot

Yeah the broker is pissing me off because he keeps asking me to send the conditions the. Processor is asking for and I keep telling him I already did. Now he wants me to call the processor my self to make sure everything is ok. Umm isn't that what he's getting a percentage for...to deal with it.

[Boosthappy]

Yeah the broker is pissing me off because he keeps asking me to send the conditions the. Processor is asking for and I keep telling him I already did. Now he wants me to call the processor my self to make sure everything is ok. Umm isn't that what he's getting a percentage for...to deal with it.


Actually the sad part is that the person doing the most work on the loan, especially on a FHA deal is the processor which unfortunately is the person getting paid the least...

I would not be surprised if they are using outside processors.... but anyways if you want to close be nice your processor call her kiss her ass and get them everything they need...If possible try to do everything via e-mail so you can keep records of everything...(But dont call so much you piss them off, they can be cunts)

[Eric@TCGMiami]

Actually the sad part is that the person doing the most work on the loan, especially on a FHA deal is the processor which unfortunately is the person getting paid the least...

I would not be surprised if they are using outside processors.... but anyways if you want to close be nice your processor call her kiss her ass and get them everything they need...If possible try to do everything via e-mail so you can keep records of everything...(But dont call so much you piss them off, they can be cunts)

Some processors make a decent cut...

[Boosthappy]

Some processors make a decent cut...

Trust me , no they don't... On average they get a 30-40k salary and $200 a file.

The loan officer will always be in the thousands, and honestly its hard to find a good LO, so they get paid for taking an app, collecting docs and a appraisal check... Still the reason why being in the mortgage industry does not suck the average person would be happy with 3 files a month and live ok.

Also on a side note FHA loans have always been cash cows, right now the back end of those loans is butter.... 5.5% is paying on average almost 2 points... plus what they will charge upfront....

[Eric@TCGMiami]

Trust me , no they don't... On average they get a 30-40k salary and $200 a file.

The loan officer will always be in the thousands, and honestly its hard to find a good LO, so they get paid for taking an app, collecting docs and a appraisal check... Still the reason why being in the mortgage industry does not suck the average person would be happy with 3 files a month and live ok.

Also on a side note FHA loans have always been cash cows, right now the back end of those loans is butter.... 5.5% is paying on average almost 2 points... plus what they will charge upfront....

Well the company i serviced paid their processors 1k per week + 200 per file closed....

[Latnballer]

Well...after starting my search for a home to purchase in January, I have finally closed on the house this past monday.
I ended up firing my broker, went with a local one that had the approval package ready in 15 days as they promised. Only problem was the sellers investors (shortsale property) had closed the file. I was pissed. They got them to reopen the file and a couple of weeks later...it was approved.
Owner bought it at $275,000 when it was brand new in 06. Bank let it go for $125,000.
House is in excellent condition. It was move in ready except for the downstairs that I wanted to repaint. I'm moved in, finally got Comcast to come out and set up my internet/telephone service. Excited for sure...miss being in Kendall but don't miss the traffic. I do love taking Old Cutler Rd to work....very relaxing.

[Trdcorolla]

congrats dude, Home buying is a pain