Posted by Anonymous on 6/6/04 4:05pm
Msg #2779

Do I have to give borrowers copies?

First edoc transaction. Fee is cheap by signing company. Sent me edocs. I printed one copy. They give no instructions. Do I have to give the borrower a copy or will they get a copy back after I fedex them back to the signing company's title firm?

Thanks you in advance.

Reply by ca sa on 6/6/04 5:51pm
Msg #2780

Re: Do I have to give borrowers copies? Yep.

Yes, they expect you to print a second copy for the borrowers. The fee they quoted you covers everything: signing, eDocs, borrowers' copy set, etc.

Reply by Sylvia/FL on 6/7/04 8:04am
Msg #2792

Re: Do I have to give borrowers copies? Yep.

Yes, borrowers need a copy of all the documents - and make sure you have 2 copies of the RTC for each person on the title, and a copy of the TIL for each person.

I had one company that would only pay $25 for edocs, and my edoc fee is $45. So they told me to have the borrower get the copies from the lender. In that case I still made the required copies of the RTC and TIL, also made a copy of the HUD. The rest they had to get from the lender.

Reply by JYHoward on 6/7/04 8:54am
Msg #2793

Re: Do I have to give borrowers copies? Yep.

Newbie reading...can you identify what RTC and TIL stand for? So far I have yet to have to print edocs or get docs fedex to me for loan signing. The borrower always has the paperwork when I get there. I've only done one loan signing and I'm still learning what I'm looking at when I'm there.

Reply by Sylvia/FL on 6/7/04 9:06am
Msg #2794

Re: Do I have to give borrowers copies? Yep.

RTC =Right to Cancel - each person on title receives two completed copies of the RTC

TIL = Truth In Lending disclosure - each person receives one copy each.

Reply by JYHoward on 6/7/04 10:42am
Msg #2800

Re: Do I have to give borrowers copies? Yep.

Thanks for the identifying the acronyms. I'll have to right those down for future reference.