How Can We Forget

How Can We Forget With attorneys television adds for asking if you’re the victim of fraud by predatory lenders.

With so many blaming their foreclosure on their lenders, conveniently forgetting they were foreclosed on because they stopped making their payments.

Claiming fraud!

Claiming they were never told they had to make a payment every month!

Claiming they were never told their extremely low payment was adjustable!

Claiming their option ARM’s negative payment can go on forever.

Claiming they were never told! How can we forget they blamed the lender?

How can we forget?

How can we advocate reducing personal contact with borrowers at the most important step of the lending process.

How can we forget all this and open our selves and our clients to possible misunderstanding by closing remotely?

How can we forget? We are being blamed wrongly!

How can we forget? That even with the best procedures buyers in default can and will blame us when they stop making their payments.

How can we forget? A mortgage is for 15 to 30 years.

I’m all for innovation. All for convenience. All for ignoration. All for greater service. I practice what I preach!

How can we reject innovation? How can we reject incredible convince? How can we reject progress? We can’t, but how can we forget our fiduciary duties to protect our clients from themselves? How can we forget to protect ourselves?

How can we advocating electronic signatures on mortgage documents?

Allot of people I respect don’t agree. Mortgage Industry Should Adopt The Use Of Electronic Signatures 

How can we compromise our fiduciary and our self-protection for speed and convenience?

There are ways to close inter-state and internationally. I’ve used them all many times they are convenient only when compared to the alternatives, but I’m not ready to routinely advocate my fiduciary or open myself to buying back the loan.

For the record I’m only opposed to electronic signatures on deeds and mortgage closing documents.

It’s hard enough to assure understanding and establish who’s signing face to face,  #7.

My long tern readers know I used the AP photo wire to do a remote closing in 1975, buying and closing our second home with an out of town seller in 5 hours after seeing it.

Danger, danger, danger!