PLEASE READ THIS AND MAKE SURE YOU ARE FOLLOWING THESE INSTRUCTIONS

THE LANDMAN SHOULD HAVE EXPLAINED THE PROCESS DURING YOUR SIGNING BUT

>>>> PLEASE <<<<

MAKE SURE YOU ARE FOLLOWING THE CORRECT PROCESS SO THAT YOU ARE NOT GOING TO BE DELAYED IN YOUR PAYMENT.

I want to REMIND everyone especially those that have already signed to make sure you make a copy of your draft for safe keeping and submit your draft to YOUR PERSONAL BANK OR CREDI UNION. Your Bank will then submit the Draft to the Frost Bank. Frost Bank will then tell Caffey to start your title research which THEN starts the 30 day clock and NOT before. If you do not submit your draft your paperwork is not being processed and you will be delayed. ***AGAIN The 30 business day “clock” ONLY starts after the Caffey Group has been NOTIFIED by the Frost Bank that it has received your Draft. Do not forget to submit it.

PLEASE NOTE

Each Bank or Credit Union handles the Drafts differently and takes a different amount of time. We will try and publish how long we have been told by other either homeowners or by the Financial Institutions it will take.

For Example:

Chase Bank: When you deposit your Draft they mail, yes mail(USPS) your Draft to their processing center in Houston. From there it is processed and then mailed, yes mailed, to their other processing center in San Antonio, which then notifies the Caffey group. This process can take up to twelve(12) business days. Although Chase takes longer upfront to get back to the Caffey Group, when the Caffey Group authorizes the release of the funds, they are very quick, usually one(1) day to finish the transaction.

Others Financial Institutions are quicker on the front end processing but take longer on the back end.

YOU MUST understand that the Caffey Group will only work on a Homeowners Title research when it receives notification from the Financial Institutions. The time it takes to be notified is NOT in their control but is a function of YOUR BANK OR CREDIT UNION.

The Caffey Group will meet their 30 business day committment to you. They will be responsible for everything in THEIR control. External Banks and Credit Unions are NOT in their control. PLEASE UNDERSTAND THIS.  

I might suggest that when you deposit your Draft you ask your Bank or Credit Union how their Drafts work, how long they take and how you can check the status while they are processing them.

HERE ARE THE TOP TWO(2) REASONS FOR A DELAYED PAYMENT:

1)  A HOMEOWNER WAITS OR FORGETS TO SUBMIT THE DRAFT

2)  THE BANK OR CREDIT UNION TAKES LONGER TO PROCESS THE DRAFT

I will provide more information about how the “”Draft” works, why they are used and what it means to you. I will update the “FAQ’s” document as quickly as possible.