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Author: crackdclaw Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127807  
Subject: Re: question: down payment on my first home Date: 5/17/2013 10:15 AM
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Not Ray VT, yet do have an example of a title attorney impacting a sale.

It was 2004 or '05, during the rush of home sales. Worked with a buyer referred by a RE agent. Took the loan app, ran credit, and collected income & asset statements, (yes, full doc in a time of no doc loans). The buyer had excellent credit, high 700's, over 10 trade lines, dating 15 years back for a 35 year old man.

Buyer got to settlement 15 minutes early and was chatting with the settlement attorney before the closing. Five minutes into the actual closing the buyer called me from the table. The attorney told him he would be committing mortgage fraud if he signed the docs. The application listed him as a US citizen and he was a permanent resident alien.

Truthfully, I had never asked. The app was taken over the phone. His employment history, the seasoning of his credit, our discussion of college, I just checked the box for US citizen. We still closed that day, but I had to have new docs drawn.
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