Posted by Al - CA on 11/16/04 2:50pm
Msg #11444
Request For Notice of Default - a Dumb Question?
This document appears to be a document for another entity to notarize - but I thought I'd better check. It doesn't look like the borrower(s) is/are supposed to sign this - it looks like the lender or somebody else signs it and then it gets notarized in their office.
Am I correct in thinking this?
It looks like this:
Request for Notice of Default
In accordance with Section 2924B Civil Code, request is hereby made that a copy of any notice of default and a copy of any notice of sale under the deed of trust (or mortgage) recorded in __________(county) in Book ___ page____records of ___________(county) executed by ___________(borrower's name) as trustor (or mortgagor) in which ________(lender) is named as beneficiary (or mortgagee and )_____________as trustee to be mailed to:
XYZ Lender
Lender's Address
Notice: A copy of any notice of default and of any notice of sale will be sent only to the address contained in this recorded request. If your address changes, a new request must be recorded.
Signature__________________________________
Notarial Certificate Wording Section follows
Thanks for any input on this.
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Reply by Becca/FL on 11/16/04 4:25pm
Msg #11453
Al - you are correct, this is not for you or the borrower to sign. This is used by the mortgagor if the borrower defaults on the loan. You will see this on DOT's and not on mortgages.
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Reply by Bob-Chicago on 11/16/04 5:59pm
Msg #11461
Not Necessarily
I just did an Illinois Mortgage (not trust deed) yesterday which required that bwr sign a "request for notice of default" incorporated into the document.
The request was directed to the holder of any mortgage senior to the instant mtg.
The new lender will send a copy of the new mtg to the holders of existing mtgs so that new lender is aware of a problem before it may be too late.
Due to privacy rules, they old lender will not communicate with the new lender w/o the bwr's pemission. This constitute permission.
Bottom line. You have to read the doc to see if the bwr needs to sign or if it is only for the new lender to sign.
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Reply by Jan Kohake on 11/17/04 11:00am
Msg #11501
Re: Not Necessarily
Tell me, are both notarizations to be filled in? I have had lenders contact me and say both notarizations are to be done. There is obviously one for the DOT and the other for the "default", which also is the page where the borrowers sign. The other is a loose certificate.
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Reply by Al - CA on 11/17/04 11:07am
Msg #11502
Re: Not Necessarily
Bob - Thanks for the response. Therein lies the problem - I read the document over several times and it is not clear to me. This was not incorporated into the DOT (as you mentioned yours was incorporated into the Mortgage in your case).
The wording of the document did not say anything about the borrower giving permission to any lender to communicate with another lender.
The document read exactly as I had typed in my post, with the exception of specific names - I ommitted those.
So - just by reading what I posted - can you tell if I should have had the borrower sign?
Thanks again.
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Reply by Bob-Chicago on 11/17/04 2:50pm
Msg #11526
Re: Not Necessarily-But here is is clear , Not for bwr
Just to clarify, the "request" on your docs is clearly for the lender, and should not be your problem. The venue typed for the lenders location, locks it up..
Another factor are the blanks for recording info. You can not have the bwr sign a docs with all of those blanks, and it would probably illegal for you to notarize under the law of (I think) any state. The lender would have to fill in that info before they sign and have the signers sig acknowledged.
I just wanted to make it clear, that the bwr MAY need to sign a "request " on certain mtgs and tds. You have to look at how it is written.
Also, to my mind , the only "dumb question" is the one that you don't ask just before you do something really dumb.
Good luck to you.
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Reply by Al - CA on 11/18/04 9:54am
Msg #11586
Re: Not Necessarily-But here is is clear , Not for bwr
Thanks, Bob. I appreciate the advice!
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Reply by Al - CA on 11/17/04 11:13am
Msg #11503
Thanks, Becca, that's what I was thinking until I read Bob's post after yours. One of the clues (which I should have mentioned before) is that while all of the other notarial certificates had been preprinted with the county I was actually performing the notarizations in - this one had been preprinted with the county where the mortgage company is located.
I forgot to mention that in my post - but I thought that might have been an indicator that it was not intended for my borrower to sign.
I guess I'll find out soon enough - if I hear from the client that I have to go back out to the borrower at no charge. LOL!
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