This Is What Happens When You Send An Economist To A Closing:

Sad, really.  There should be a department of redundancy department to oversee these things.

folks, its only going to get worse.

And everyone needs to save a paper copy of everything, because the servers can be corrupted, and you can loose all your cloud stored data...

There are 6 "annuity" disclosures in my loan application package for an FHA-insured Reverse Mortgage, that all say the same thing, but a little differently.  And those same disclosures are signed again, when the loan closes.

You've just noticed it? It's been going on for awhile & the push for going paperless is going nowhere fast. In this age of CYA, there will always be more & more of this paperwork.

It is annoying to say the least but it is a reality of the mortgage market now. I am constantly amazed that mortgages and closing documents are not electronic when almost everything else involved in real estate is.

I see this with disclosures all the time.  I also see agents/brokerages/assistants that cannot figure them out so just have you sign everything - even if it is not relevant or worse yet contrary to the contract.

Loan documents are coming across my desk that have 100 plus pages for the borrower to sign. It's ridiculous. 

I think attorneys have a lot to do with the disclosure inundation. And of course the litigious clients looking for the imaginary deep pocket of brokers and Realtors.

And the more layers and people involved the greater the chances that it will all get messed up! 

How can the economy and the country survive when we quit producing things and instead pay a myriad of people just to push paper - especially paper that doesn't need to be pushed? 

heyyyyy - what about all those people who get paid by the page to come up with those redundant forms, but still have to make the wording JUST different enuff to justify it.....they have families too....

Hi Dick, attorneys!  Even in states like ours where it is primarily title companies that do closings, the attorneys are always driving!

It's all about providing copies to TPA's with wet signatures. The robo administrative assistant was permanently retired, now everybody in the process wants a document with a wet signature, why? Perhaps to CYA.

Dick, I love it when you have to sign paperwork to say that you are who you are that you are not lying about it. All in the same sitting. Who thinks like that? It is ridiculous

Funny how our modern society has become so complicated... We have created all of those jobs togenerate tons of documents that hardly anyone understands... And to think that back in the 70's we thought that computer use would eliminate the need for paper!

Dick, like you, I am continually amazed by the quantity of closing paperwork. 

Classic....what a wonderfully affluent society we live in when we can afford to keep so many people gainfully employed on such completely wasteful and meaningless activity.  

Thanks for reminding us.  You wouldn't believe the snafu I just ran into.  (Does anyone even use that word anymore?!?)

I was at a closing yesterday and the buyer had to fill out a form that was really kind of pointless. We talked about the why and I think it boils down to something happening that someone got burnt from, speaking mainly about the lender, and to protect their butts this extra form has appeared at closing tables across America.