National Titlenet held our loan money

Silverdale, Washington 5 comments

We used Profolio Home Mortgage on our refinance because they had the best rate. The broker seemed nice enough.

We filled out all the ridiculous paperwork in black ink with the notary on Thursday evening, including all the information on the National Titlenet form (and a voided check) to have the money transferred to our bank account. However, we were called by them AFTER the bank was already closed on Tuesday evening (3 business days after the paperwork was signed) to inform us that we had the incorrect bank routing # on the paperwork.

That is ridiculous! If National Titlenet already knows that the bank routing # on the check may NOT be the proper bank routing # for a wire transfer, why weren't we informed of this on Thursday while the bank was still open, so that we could call them? It does no good at 8 PM when the notary is there.

Even if we were informed of this on Friday, we could have called the bank and gotten the correct routing #, but no one told us this. When I think about it, that doesn't do us any good because National Titlenet wanted a new form filled out anyway, and they probably wouldn't have accepted a fax, so we would have had to pay for overnight delivery of the new paperwork, which would have delayed the wire transfer yet another day.

I bet this is just a scam to withhold loan money so that someone can make money on what is legally ours, not theirs.

Comments

Anonymous
#158602

Tara McNaughton has in fact been working for a company assiociated with NTN. She is a very close friend of Michael Hoopper one of NTNs owners.

Anonymous
#113679

after reading through the comments, i can see why the borrower was upset.however, after being in escrow for 10 years, i can assure you that title companies have no interest in "holding" clients' money.

i, as i'm sure others do, want to get you your money as soon as possible.it's hard to do so without a proper routing number though.....it usually states on the paperwork that you need to call your bank to make sure that the routing number is for incoming transfers, NOT just your checking account.

Anonymous
#106627

Tara McNaughton does not and has never worked for any company related to National TitleNet.

And if I were you, I would delete this post about your experience.For one, it shows that you are not competent enough to match your routing numbers up correctly and two that you are not competent enough to pick up the phone to call and get the proper information.

It also shows that you have no appreciation of the wire service that costs the company money to do, yet it did not cost you a dime...most companies mail a live check after three business days therefore not reaching you until the 5th or 6th day, or later.I think that folks like you have a lot of time on their hands...enough time to get the correct info rather than not and blaming your mistake on others.

Anonymous
#80032

Tara McNaughton works for a company associated with NTN...take what she says with a grain of salt.

Anonymous
Butuan, Butuan, Philippines #27679

Curious...you mentioned refinance. Were you not aware that your loan refinance cannot be funded prior to three days after the signing of your loan documents? It is called a 3 day right of rescission, one of the loan documents that you were required to sign at closing...

So, it seems to me that National TitleNet was acting within its time frame to help you with the correction of the information in which YOU provided to them to wire funds directly to your account...all a luxury within itself though it seems.

For future reference, knowlege is KEY!

Oh, and I did call National TitleNet directly, they do and will accept a faxed or e-mailed authorization to wire funds to your account...all under the assumption that the information you provide will be correct! (rest assured funding after the 3rd day!)

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