I had a few more exchanges with the builder’s lender and title company today and wanted to report a couple things of interest.  Title called today to set my appointment for signing the loan docs.  The appointment is on Monday just after the walk-through of the house where we develop the punchlist of final things that need to be corrected.  I’ve always been fascinated by the fact that they make you sign off on the loan before the house is actually complete.  One time the builder took 3 more months to finish the punch list after we closed.  And the lender had the nerve to come after me because we hadn’t moved into our primary yet.  Anyone want to live in a house where the construction trades start working on it at 5:00 am and they keep coming unannounced for 3 months?

So we sign docs on Monday and the loan officer submitted initial papers to the lender this afternoon.  That gives everyone 3 business days to do the loan.  I’ve seen no good faith estimate and have no idea if the type of program I’ve asked for is what they’re lining up for me.  I hope my loan officer took meticulous notes because it’s looking like we have one chance to get it right.

Title was sure to let me know that if funds are needed at close I need to bring a cashier’s check.  However, she could not guarantee that I would get to see the HUD-1 prior to close, in order to see how many funds I need to bring.  I already know I won’t need to bring any money, but if I did how would I?  She was following her phone script and that question threw her off. 

In any case I told her that I would be needing the HUD-1 prior to close in order to review it for errors, and considering we’ll be doing the walk-through just before the closing appt, I won’t have access to email that comes in the 11th hour.  They either need to get it to me Friday or I’ll have to reschedule the close so I have time to review it.  I have yet to review any HUD-1 created in this Arizona frenzy that didn’t have errors.  The last time I needed an error corrected it took over a week to re-draw docs.  If I don’t close by the 29th I lose the $75k incentive + closing costs.

Title also volunteered the information that they are closing out their fiscal year and are super swamped.  That’s why she doesn’t think the HUD-1 will be created before the appointment.  It may actually be created during the appointment.  And, all of the escrow agents are booked so they are bringing in temporary signers to do the closings.  I’ve had it happen before when I ask a question during closing and the signer throws up her hands saying “This isn’t my file, I don’t know anything about it.  Sign here.”