Posted by Anonymous on 2/23/05 7:50pm
Msg #22062

Did I Screw This Up? Please Help!

I just had my first signing. After the signing was complete and I had left I noticed the borrower had scratched out and rewrote a date on the deed. By this time it was very late. Upon further review I realized he also wrote a 7 in a date where a 2 should be (his writing style was such that the two looked very similar). I contacted him and arranged to meet the next day and resign another copy of the deed and the document with the 7 for a 2.

After that meeting I sent the docs to the title company. So most of the docs signed one day and I reprinted and got signed the deed and another basic doc the next. Is the title company going to have a problem with that? At the time I believed this was the proper remedy. Their documents say that there are problems if the dates are bad or slashed (which is what I was trying to remedy), but I can't find anything that specifies all the dates must match.

On a related note, what happens if two people sign a doc on different days? Such as a case where the borrower is in one state, and the co-borrower in another?

Reply by BrendaTX on 2/23/05 9:35pm
Msg #22078

I don't know about the date on the deed of trust. My ***theory*** is the signature/date on the RTC and TIL **might** be sufficient to take care of the loan funding on time. BUT, I have never asked this question or had to think about it. BobbiCT or PaulFL will know, I'll betcha.

But, as far as two people signing a document on different days, I have had that occur a few times. If it has to be notarized separately, one of the notaies will have to add a certificate to cover the signer they witnessed.

Obviously, your certificate will indicate a different date than the notary's does in a different state.

In Texas, the notary's acknowledgment is what states the date the Deed of Trust was signed.

Reply by PAW_Fl on 2/23/05 10:17pm
Msg #22088

Preprinted document dates are almost meaningless in reality. The important date, the one that causes everything to come to fruition is the funding date. That's when the loan is in full force and effect, which then means the mortgage or DOT is applicable, since they are directly tied to the note which initiates the whole chain reaction.

So what sets the funding date? When the lender provides the funds and the settlement or escrow officer divvy up the cash. When can the lender provide the funds? Upon expiration of the RTC, if there is one, or immediately upon execution of the note, if no RTC is in effect, and the satisfaction of all other funding and closing stipulations and conditions, such as signed and executed documents including the mortgage/DOT, TIL, affidavits, etc.

Reply by ERNA_CA on 2/24/05 3:02am
Msg #22128

Never change anything on loan doc's without asking the lender or title co. If you are siging docs today and they have tomorrows date on them get concerned. But allways have borrower call lender before changing anything. Only thing i take upon my self to change is the dates on the Right To Cancel. Just my two cents