Comment from Anonymous
Anonymous AnonymousOtherBusiness
Summary: The commenter, representing a title company, describes difficulties in obtaining accurate and timely figures from lenders prior to real estate closings. They highlight how incomplete data from lenders causes delays and communication gaps for real estate agents and their clients.
I fin that some lenders are issuing a CD simply to meet the three-day deadline, even when the figures are incomplete or subject to change. Additionally, lenders frequently do not respond to requests for the figures needed to balance the file for an upcoming closing.
This makes it very difficult for title companies to provide accurate numbers. Because real estate agents rely on us to give them these figures for their clients, the lack of timely communication from lenders three days prior to closing is causing significant delays and communication gaps.