Loandepot asking me to sign new note

I got a letter from loandepot asking me to sign a replacement mortgage note - from their compliance dept. Anything I need to be wary off with this request or is it just a compliance thing? Appreciate thoughts.

A brief from their email to me:
Requesting your help in signing a new mortgage note as the original was shipped to our warehouse bank and they have misplaced the document  and have asked to have a new note signed

This is not an uncommon request. Borrowers (with any company - not just LD....) at the closing of a purchase or a refinance sign a catch all letter saying that you will help cure any defects in the application and closing documents. It has to be done per a borrowers prior consent and agreement to do so.

In your closing package you'll have a copy of your Note. Once you get the replacement Note, just compare the verbiage side by side. They should be identical. If they are not, I'd get a written explanation why the Note vary copy to copy. If any changes are minor, sign and move on. I'd be surprised that there might be any changes in your note. Let readers know if there are and how this was resolved.

My .02c

I wouldn't sign it unless it was identical to the original.  Otherwise, I would ask for them to pay for your lawyer and accountant to review the documents.  (why would I pay to cure their fault?)

freedomcm said:

I wouldn't sign it unless it was identical to the original.  Otherwise, I would ask for them to pay for your lawyer and accountant to review the documents.  (why would I pay to cure their fault?)

Click to expand...

Because you signed that you would cure minor issues post-signing. You are obligated to.

Thank you all for you comments!! Loandepot has sent me the original, so I will make sure to review they are identical before I sign the new note. Thank again for the inputs!