Posted by Becky on 6/7/05 7:46am
Msg #42890

4506 & 4506T

In some lender's package, there is a lengthy explaination to the borrower why these IRS docs should not be dated. But most of the time there isn't one. When there isn't any instruction not to date these forms in the package, I do ask borrowers to sign, date, and fill in their phone number and I've never been told I did it wrong. However, since these docs are for the same purpose for all lenders, I'm curious what other notaries do - date the forms or not?

Reply by BrendaTX on 6/7/05 8:21am
Msg #42893

Becky,

What I have found is that no matter what the directions, if a person is signing a document, they have the right to read the instructions and make a decision on the date. Either way it's ever been done has never caused me a re-sign.

I perceive that it's not within my duties to "make" them sign a date or not to date it. 99% of the time, things go as they "should" go and the docs are done just as they should be.

I have done mobile home refis where the bwr was told NOT to date the RTC in lender instructions. I did not offer an opinion, or suggest what should be done. I showed the RTC to the bwr which states "date of receipt" and then shown them the written lender instructions and allowed them to make a decision.

Some do not agree with my practice of *not* insisting that the RTC be dated correctly, but it's not my loan, my lender, and it's not my bwr/client...if the bwr sees the RTC instructions combined with the lender instructions, they make the decsion. I perceive my part in this is

- a discrete, dependable and trustworthy courier who will not steal information or be too curious about the loan terms to the point I develop an opinion

- acting as a notary public

- I am there to facilitate; and to fulfill a signature collection and witness the same

- to give a short description (the title/point out a few important facts in each) of the docs

- know the right phone numbers to call with questions when my ability to point out the facts within the documents fail to answer bwr questions

- to ID the bwr and provide proof of ID back with the package as required

- to tell them how to sign their names correctly for the best possible outcome of the loan funding/security instrument filing

- to see that every document execution and initialing detail is completed at the table to the best of my ability

- to remotely oversee that the documents are signed as the lender/title company request without coercion or persuasion. I present facts (ie, "here's the RTC, here's the lender's instructions).

- to confirm the signing of the documents has taken place

- to return the documents in a timely matter

I have watched closings take place on purchases, refis, home improvements and cash outs by an escrow officer. Aside from the document return, this has been pretty much the way it is.

HOWEVER, I would be surprised to witness a signature collection/signing take place in a title company where a lender had instructed the closing agent to not date/incorrectly date documents. But...maybe I am just gullible.