I usually keep phones off at the table, but I let a borrower call the LO to confirm vesting once, and it actually saved the package and a late-night redraw, kinda. My guardrails are simple: only lender or title, only for names, money, or vesting, and I set a three minute timer before we park it. Earlier this year I skipped that fast reference, they signed as joint tenants instead of community property, and it turned into a redraw, a second trip, and a fee dispute. Do you allow a short verification call, or stick to strict no-phone and risk circling back later? anyone else?
Same here — I keep phones facedown, but I’ll allow a quick speaker call to the LO for vesting/rate/cash-to-close if something doesn’t match the CD. It’s saved me a couple redraws and defused borrower anxiety. Do you cap it at a few minutes and note who you spoke with?
I keep a pre-verified LO/title contact sheet in the folder and, if we call, it’s speaker-only and I log the start/end time and the exact answer in my notes — it’s saved a vesting mix-up more than once. Do you document those calls anywhere (journal or order notes) or just keep it informal?
Yes - quick LO/title calls can save a redraw if it’s strictly about vesting, money, or rate and then you move on. I keep a pre-verified contact list from title, require speaker with all signers listening, flip a three‑minute timer, and note the start/stop plus the exact answer in my journal so the file is covered later.
Yes - quick, speaker-on calls to LO/title strictly for vesting, funds, or rate can absolutely save a redraw if you cap them at three minutes and keep moving. I use a pre-verified contact sheet, log start/stop and the exact answer in my notes, and if no answer I tab the doc to revisit and fire a quick recap email to title right after.