Posted by Terri - CA on July 10, 2008, 9:19 am, in reply to "Re: IREP"
209.221.205.86
I'm in CA and I've closed loans for them in the office and in the borrower's homes. No restrictions as far as I knew about the closing location.
Terri
Lancaster, CA
--Previous Message--
: Corrine, This signing-in-the-home was
: special to California and I think a
: few other states. It was part of a
: settlement due to HFC and Beneficial's
: problems with LO's pressuring the
: borrowers to sign loans they didn't
: understand. The feeling was that
: borrowers would feel more comfortable
: in their own homes instead of an
: office situation. The problem was
: that by following the rules that IREP
: held, we couldn't meet at outside
: locations like McDonalds.
:
: --Previous Message--
: I just re-read your email. Are you
: talking about the new materials for
: conforming loans? HFC and Bene are
: now going to be offering regular
: loans. They want you to review the
: new material on their website and sign
: that you have reviewed it. We have
: always been referred to as ILC's.
:
: Wendy - IREP loans are always signed
: at the branch, with a few exceptions,
: like immobility of the client. At
: least in CO, there was a requirement
: at one time that IREP loans were NOT
: to be signed in the borrower's home.
: This was before the ILC program. I
: don't ever remember a requirement that
: they sign ONLY IN THE HOME.
:
: --Previous Message--
: I received e-mail training manual for
: Independent Loan Closers which they
: have asked to have signed confirming
: that we have reviewed the material.
: Any thoughts on this. My problem is
: being called an independent loan
: closer
:
: Pat
:
:
:
:
:
Terri
Lancaster, CA
CA Notary Exam Instructor
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