LOL......... of course, we do.
Just look at these files awaiting scanning in my office.
Granted, these files contain our title abstract and lien letters and file notes, but all other documents have been signed by the consumer - usually at the closing table.
The skinny files are cash transactions and include the very basic needed to convey real property.
The big fat files are mortgage files. Differences in the number of documents vary by program and lender. Amazing, huh?
OK, in case you didn't know, our federal government is trying to fix the problem. Have you seen the proposals submitted for consideration? If not, here are a few:
Federal Trade Commission
National Association of Mortgage Brokers
National Association of Independent Mortgage Bankers
Mortgage Bankers Association
Mortgage Bankers Association - HUD-1 proposal
National Association of Realtors
National Association of Realtors - 2
These links were provided by RESPAnews.com and they wrapped it up by saying...
"Clearly, there are a lot of issues in play on the mortgage disclosure reform front at this time, and it is unlikely that they will all be resolved soon. However, as RESPAnews was going to press with this story, the Senate Banking Committee was holding yet another hearing on ways to fix the problems of the mortgage industry, so we may yet see new recommendations surface from that."If you have a favorite disclosure or some ideas of your own, why not shoot a letter off to your legislators or HUD. I'm certain they would appreciate consumer feedback.
I am very interested in your opinions, so please feel free to comment here. It would be a good conversation, don't you think?