I think I heard the DUMBEST thing come from a bank negotiator yesterday. I submitted a listing agreement that was electronically signed with DotLoop. Negotiator rejected it saying that she needed "wet signatures". I decided to question it.
Me "Why would an electronic signature not be allowed? "
Negotiator "Sir, our company does not allow Robosigning"
Me " Can you explain, I do not understand"
Negotiator "I am surprised that you did not hear about the recent robosigning fiasco, it was all over the news. That is why we don't allow electronic signatures"
Me (TO myself) You are an idiot!
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Seriously, if you have done any short sales, you should know that no one accepts electronic signatures. What are you complaining about. This is something you should know.
Sorry, but I just closed one Thursday with BofA and buyer, seller, and both agents used docusign electronic signatures.
Sharon. That's not true. I have recently closed short sales with BofA, Wells Fargo and Suntrust using electronic signatures.
Jeff, I had this happen, too. It was the particular investor who wouldn't take the electronic signature.
It is "interesting" for sure.
A negotiator I chatted with recently explained they are comparing the (wet) signatures on the Listing Agreement, Purchase Agreement, etc. to the original "wet" 1003 and, in many cases, are finding the signatures to be different. This is one of the methods being used to detect mortgage fraud.
It makes sense to me!
Are the Negotiator's now handwriting experts?
Hey Thom, Thanks for this response. As I am sure we all know the potential for fraud is high in short sales.
Others, I agree with the apparent lack of IQ can be high with negotiators.
OMG Jeff. These negotiators seriously never seem to shock me. I'm just disgusted recently with the lack of education on their part.
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