Posted by Patricia Casey on 2/11/07 9:52am
Msg #175201

Notarizing doc that isn't true?

CA Loan Closing in Colorado still...
I have a 2nd home rider (I'm doing a 1st & 2nd refi) that I don't actually notarize but it incorporates itself into the Deed of Trust that I do notarize. 2nd home rider says home is 2nd home only no rental or timeshare. Borrower is telling me property is a rental (I got into it this deep trying to verify if missing Right to Cancel was needed).

Should I proceed? I don't like the idea of a document I'm notarizing having something incorporated into it that I know is not correct.

Reply by Les_CO on 2/11/07 10:33am
Msg #175202

Maybe you didn't hear correctly? Perhaps it's a second home that they may rent someday? I really wouldn't get into these peoples business. They are signing a second home rider (of their own free will) If they say it's so in writing, then it's so. The verbal banter between you is heresay. Don't cause these people to lose their loan. If they signed the DOT go ahead and notarize it. If you feel VERY strongly about it call the LO and tell him what you think. He works for the lender, let him handle it, or put a note in the package (I wouldn't) noting what you "think". Remember..... this is just chat board advise.

Reply by Lee/AR on 2/11/07 10:43am
Msg #175206

Have to agree with Les. Notarize; don't analyze. You are notarizing signatures; not documents. The signer is responsible for the validity of the contents.

Reply by Sherri_mo on 2/11/07 10:43am
Msg #175207

I think you are getting involved way over what your position is. This rider is not notarized and your notarization on the deed of trust is not affected by it. Also you do not notarize content only signatures, the content of the document is strictly between the borrower and his lender. Sometimes I know it is tempting to read into something, circumstances that are not our place to get involved in, and this appears to be one of those circumstances. If the borrower wants to sign it as is then so be it.
PLease don't insert your opinion to the point that it could jeopardize the borrowers loan.
Just my opinion.
Good Luck.

Reply by PL on 2/11/07 10:41am
Msg #175205

Are you notarizing or scrutinizing?

I believe you are inserting yourself into this person's loan way too much. Have you and he met Colorado's standard for doing the notarization? If so, complete your job and be done with it. If you start raising the issue of whether it's rented or not and he disagrees with you and says, "I have no idea what she is referring to". There will be little guess on who is on the losing end of this exchange. My thought is close the loan wish them good luck and move on to the next one. Which is exactly what I'd say to you also.

Reply by Leon_CO on 2/11/07 10:58am
Msg #175209

I don't like the idea of a document I'm notarizing having something incorporated into it that I know is not correct.

We don't worry if the contents of the document are true or not. That's the borrower's concern. That's why they take the oath. Not us.

Repeat after me: I'm "just a notary."

Good luck.

Reply by ewing2surf on 2/11/07 12:04pm
Msg #175219

Repeat after me: I'm "just a notary." n/m

Reply by Les_CO on 2/11/07 11:01am
Msg #175211

Re: Notarizing doc that isn't true?/another thought

Pat, the lender has had these folks information for months. They have signed loan apps, SS numbers, tax returns, appraisals etc. They are in the lending business. They are “big boys.” They have legal council, and they don’t need your protection. The LAST place you want to be is in court swearing to what you thought you “heard” in the twenty minutes you spent at the closing table. Just do your job as a notary, and everything will be fine.

Reply by Keys_Notary on 2/11/07 11:15pm
Msg #175306

Pat, they wouldn't have the rtc on the 2nd home if the loan is structured as investment. That was determined back when they applied for the loan, the borrower knows its an investment loan as well.
For future reference, Usually when a loan states the property will be rented it is because they are relying on the income from the rents to satisfy the debt to loan ratio and it may or may not have a rtc depending on the way the loan is structured.
Again like others have stated, don't scrutinize the loan. You were engaged to witness/notarize signatures and provide a brief explanation of documents. Never ever digest them for them.