Jerry H.
closings
I was asked several times to provide documents I had already provided. I recently did a purchase transaction where I contacted the closing department advising them of the closing deadline, their response was," it's in line". Closing purchase transactions should take priority over refinance transactions because of the closing deadlines imposed on purchase transactions by the Purchase Contract. Closing instructions should be provided to the title agent at least 24 business hours prior to the closing date and time to allow time for the borrower to wire funds to close.
Response from Smartfi Home Loans, LLCSep 5, 2025
Thank you for taking the time to share your feedback. We understand how important timely communication and meeting closing dates are—especially with purchase transactions. In this case, the loan came into closing the morning of Friday, 8/22/25, with a scheduled closing date of Tuesday, 8/26/25. Our team completed HUD review and sent closing documents on Monday, 8/25/25. Please note that HECM rate updates occur Monday afternoons and must be in place before final balancing can occur. Although we generally avoid Tuesday closings for this reason, we made the exception here to ensure the purchase transaction closed on time. Although the team succeeded in meeting the tight timeline we clearly didn’t communicate as well as we strive to. Your feedback has helped make sure we’re more transparent going forward.