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#2137412 - 07/10/17 06:32 PM Intro Letters

Almost embarrassed to ask this... and that's why I'm in the 'need to remain anonymous' section! We do everything via snail mail when it comes to mailing loan documents - yes, it actually works for us, given the size of this FI, its limited products, etc. If there's anyone out here in BOL land who still does this too, I'd like to see if they add any sort of cover letter when mailing the initial loan estimate, and if so, may I see an example?

We all know that most customers don't read anything that's sent. I already have a cover letter, but if someone has a simpler one that gets the point across, I'd like to take a look.


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#2137419 - 07/10/17 07:10 PM Re: Intro Letters Anonymous
ScoutLaRue Offline
Joined: Jul 2016
Posts: 73
oops guess I can't PM you if you are anon..we snail mail ours and we just state what is estimate, HUD counseling list,appraisal notice, etc and please return intent to proceed and counseling notice form with signatures to move forward and follow with the LO contact info. the LO typically tells the customer the paperwork is on the way so they know what to look for
Last edited by ScoutLaRue; 07/10/17 07:14 PM.
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#2137424 - 07/10/17 07:21 PM Re: Intro Letters Anonymous
Beachbum, CRCM Offline
Gold Star
Joined: Dec 2006
Posts: 482
Knee Deep in Regs
We follow the letter format and procedures as ScoutLaRue. Additionally, our LOs will reach out to the customer 5 days after the letter has been mailed to follow-up, answer questions, etc...
What we think, we become.

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#2137512 - 07/11/17 03:34 PM Re: Intro Letters Anonymous
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,832
Bloomington, IN
Thank you for choosing The Peoples State Bank for consideration of your financing needs.

We are providing, or have already provided you the following disclosures to help explain the terms of the proposed financing. If you have any questions after reviewing these disclosures please contact me and I will be glad to go over the details with you.

0 The Loan Estimate
0 Written List of Settlement Service Providers
0 Servicing Transfer Disclosure (see Servicing on page 3 of the Loan Estimate)
0 Notice of the Right to Receive Copy of Appraisal (see Appraisal on page 3 of the Loan Estimate)
0 The “Your Home Loan Toolkit” booklet
0 The Notice to Home Applicant / Credit Score Disclosure
0 Homeowner’s Counseling Notice
0 Notice to Borrower / Prospective Borrower (form HPU-01) as required by Indiana Code 24-5-23.5-8(a))
0 The Peoples State Bank’s Privacy Disclosure

If your proposed financing is an Adjustable Rate Mortgage (ARM) the following additional disclosures have been or are being provided:

0 The “Consumer Handbook on Adjustable Rate Mortgages (ARM)” booklet
0 Our In-house 1-1, 3-1 and 5-1 Adjustable Rate Mortgage Disclosures

If after reviewing these disclosures you wish to proceed with the loan request please return your check for $375.00 to cover the cost of the appraisal. If we do not receive your check within seven (7) business days (excluding Federal holidays and Sundays) from the date of this letter we will assume you have chosen not to proceed with the loan request and no further action will be taken.

We look forward to serving your financing needs.
The opinions expressed are mine and they are not to be taken as legal advice.

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