Posted by Neil L. Kleeger on 9/8/06 8:36pm
Msg #144632
over or under signatures
If a set of loan docs say Jane Doe, and the client signs Jane B. Doe, is this legal?
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Reply by Brad_CA on 9/8/06 8:41pm
Msg #144633
They need to sign as the loan docs state. Jane Doe.
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Reply by Caralyn Lindsey on 9/8/06 8:42pm
Msg #144634
I was told that the BO has to sign EXACTLY the same way the name is printed on the loan. You make want to contact the lender and ask them if they will accept it.
Hope this helps!
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Reply by Gary_CA on 9/8/06 8:48pm
Msg #144636
Re: over or under signatures n/m
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Reply by Gary_CA on 9/8/06 8:56pm
Msg #144638
Legality vs. Migraines
Legality has to do with the signature vs. the id. "Less but not more" If the ID says "John Jacob Jingle Jymer Smith" you can notarize a signature "J.J.J.J. Smith" but if it says "John J.J.J. Smith" you can not notarize "John Jacob Smith" as the ID does not prove the dude's Jacob.
But your question was about the name on the loan docs. I suppose it would be legal, with the right ID to notarize that signature with the initial. It wouldn't be an improper notarization
BUT your gonna need A WHOLE BOTTLE of EXCEDRIN. It's very likely they'll catch it, and very likely they'll reject it.
Could be a legal issue too... perhaps.
Don't play Russian Roulette... have 'em sign it the way they see it.
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Reply by Diga2Lin/FL on 9/8/06 9:28pm
Msg #144645
Re: over or under...did you pass the test??.. n/m
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Reply by Becca_FL on 9/8/06 9:35pm
Msg #144649
Re: over or under...did you pass the test??..
I fell for it. Good call Dig.
Please do email me if you are interested in networking.
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Reply by Becca_FL on 9/8/06 9:32pm
Msg #144648
I'll take the over every time.
With that said, you should always instruct borrower(s) to sign as typed. However, it is usually not a problem if the brws over-endorse. The problem occures when the brw under-endorses.
I am not an attorney, this is not legal advice.
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Reply by TitleGalCA on 9/8/06 10:06pm
Msg #144653
Re: over or under signatures - Legal?
***"Is this legal?"***
Is this a question on the bar exam? It sure sounds like it to me. If it's not, then your answer is: You can't answer because you're not an attorney.
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