What banks are offering virtual closings?

Hey everyone, I’ve seen the governor’s order on virtual notary and seen reports of RE closings going virtual.

We were just about to close on a HELOC and US Bank is refusing to do virtual simply because “they are not set up for it.”

So who is doing virtual closings right now? We aren’t concerned about starting over right now for various reasons.

greenworks

in General Discussion 5 years and 2 months ago

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greenworks | 5 years and 2 months ago

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Agreed on all points.

I’m assuming given the situation and the product they’re not dying without us but thankfully we’re not dying for the HELOC either. However even if the market tanked by 30 percent or more we’d still be ahead of the game equity-wise, even with the HELOC.

yudashasom | 5 years and 2 months ago

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Maybe give it a few days. It’ll probably work itself out. Lots of banks are pulling out of deals, so that might be where this is headed – especially with that type of product – but who knows though

greenworks | 5 years and 2 months ago

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Thanks – After an initial couple of no’s directly from the bank, I got in touch with the Escrow assistant, who then referred it back to the bank, who said no again.

I emailed the manager of employee I was working with at the bank this am telling them we would probably go elsewhere if they did not allow.

It’s absurd. I totally agree it’s the same process. This would be at least my 6th real estate transaction whether purchase, refi, or HELOC and I just don’t understand.

yudashasom | 5 years and 2 months ago

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Are you in touch directly with their attorney?

I’d keep pushing – banks are doing it. And it isn’t a matter of being set up for it or not, it’s exactly the same process.