Another sign [for me] that the refinance business is geting back on track, is the unmistakeable hurry-up-and-wait for loan documents being produced by lenders at the end of the month. Both Escrow personnel and Notary Signing Agents receive documents late, after anticipating them all day and just in the nick of time. These time-sensitive refinance documents must be signed allowing for a three-day right-to-cancel and one additional day for funding and recording of the deal at the end of the month. On the last two or three business days approaching this final window, escrow officers and notaries alike are bombarded with "must-sign-today" requests from lenders and mortgage brokers all wanting their deal to be inked immediately if not sooner.
Funny, how I used to complain about this process and bemoan the last minute crunch. Today, I'm just so happy it is here that I've forgotten to be angry that brokers don't get hot behind their deals sometime earlier in the month. Today I vow never to gripe again at the end-of-month crunch and merely accept with grateful, open arms all the work I can possibly squeeze into these few days.
If I forget...please just smack me!
"A Quick Note"