Today I had the pleasure of sitting in on a courtesy closing at a local title company. The courtesy closer was great!!
We were closing for:
Fidelity National Title
4540 FM 1960 West
Houston, TX 77069
Upon my arrival at the closing I discovered that the Final HUD-1 approved by me, my processor and my closing department had been altered. A $120 fee for the seller had been inserted at the last minute. The final HUD had been shared with the client before closing and she had a cashier's check in hand. A happy day for my single mother and First Time Home buyer turned sour. Right in the middle of the heated discussions the client came in to sign. Thinking that we had the issue handled we allowed her to sign everything but the HUD.
After several phone calls and emails back and forth by my processor back at the office and fudelity... you will not believe this..... The title company representative asked me for my phone number. What in the world would she need my phone number for you ask? Well, so she could.... and I quote: "Call me if there are any more last minute changes". <= You would have thought that I had pulled out a pistol.... the look on the faces of the closer, buyer's agent and buyer told me that I must have turned purple with rage as I tried to control my anger and maintain my composure.
In the end.... the seller being Fannie Mae.... we were told that the loan would not fund without this fee. So the client had to bend over and take it in the shorts. <= I guess the closing gift just got a little more expensive for me. Which I am fine with that.... I am just not fine with how my client was treated.
Let me tell you, I have seen some real turds in this business... but Fidelity National Title in Houston, TX is absolutely the worst experience ever!!!!!!!
Now if you think that is bad enough.... this is the very same title company who told us for 3 WEEKS that the "survey was on the way"..... do you know how much money it costs to extend the lock on a loan for that long?
As you can guess.... we are ALL going to file complaints with everybody we can think of in this business. But I have a feeling that they will be punished plenty when I hit 'publish' on this keyboard. Because that $120 fee will cost them more in revenue down the road if I have anything to do with it......!!!
What would you do?
What should I have done?
In my short career at PrimeLending.... this was the toughest loan I did. And it wasn't because of the borrower..... I never would have imagined that the Title Company could wreck a deal so bad!!
"Your Dallas Mortgage Consultant"
I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!! Subscribe to My Blog and stay informed about current lending changes!!