Skip to content
BOL Conferences
Thread Options
#1908801 - 03/26/14 05:31 PM Mailing Paid out Documents to Borrower
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
Does your bank mail the loan documents back to the borrower when a loan pays out or do you just mail a paid out/thank you letter? Thanks in advance.
_________________________
Just working here until I get my letter from Hogwarts.

Return to Top
Lending Compliance
#1908840 - 03/26/14 06:26 PM Re: Mailing Paid out Documents to Borrower HRH Okie Banker
lvannor Offline
New Poster
Joined: Feb 2014
Posts: 7
We have been investigating the same thing. I know that I only received a letter from a major regional mortgage company when I paid off my house. They sent out a separate letter when the mortgage was released - but no copies. I checked with my former employer - the largest OK owned bank. They send out a letter and a copy of the note stamped paid for both consumer and commercial notes.

Return to Top
#1908855 - 03/26/14 06:51 PM Re: Mailing Paid out Documents to Borrower HRH Okie Banker
Cowboys Fan Offline
Power Poster
Joined: Dec 2002
Posts: 4,615
SC
We only send a thank you letter and the original note stamped paid in full.
_________________________

Return to Top
#1908920 - 03/26/14 08:22 PM Re: Mailing Paid out Documents to Borrower Cowboys Fan
tuma Offline
Gold Star
Joined: Feb 2003
Posts: 368
Here & There
Similar discussion was in the Ky forum HERE .

Return to Top
#1908944 - 03/26/14 09:05 PM Re: Mailing Paid out Documents to Borrower HRH Okie Banker
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
Thanks Tuma. I would like to get more answers about what others are doing. I will, of course, get a written attorney's opinion about whether or not that will be compliant with Oklahoma, but I right now I wanted to see what other loan ops departments are doing now.
_________________________
Just working here until I get my letter from Hogwarts.

Return to Top

Moderator:  Andy_Z