Posted by GWest on 6/4/08 3:42pm
Msg #249996

Make sure to read Lenders Closing Instructions

FYI - Just received a closing today and noted on the Specific Closing Instructions for Amerisave Mortgage Corporation the following instruction: "If there is a witness line on any document in our closing packages, Amerisave will require a witness to sign regardless what their State requirements"

I verified with the TC and they stated that was correct. California does not have witness requirements for the Deed of Trust but this lender requires it, since there is a signature line on the form for a witness.

Reply by Lee/AR on 6/4/08 4:04pm
Msg #249997

Next question: Can the Notary also be the Witness? n/m

Reply by GWest on 6/4/08 4:06pm
Msg #249998

Re: Next question: Can the Notary also be the Witness?

Yes, per the TC I can be the witness.

Reply by LC/AZ on 6/4/08 5:07pm
Msg #250004

Re: Next question: Can the Notary also be the Witness?

Not in Arizona; I called the S.O.S on this one.

Reply by John_NorCal on 6/4/08 6:06pm
Msg #250011

Re: Next question: Can the Notary also be the Witness?

If you can be the witness per the TC, and the lender wants a witness regardless of state requirements, it seems to me that the lender would want someone other than the notary to witness. Kind of smells like a problem in the making, maybe you'll get an extra trip (paid for of course) to make the lender happy out of this
.

Reply by MikeC/NY on 6/4/08 7:37pm
Msg #250026

Re: Next question: Can the Notary also be the Witness?

NY mortgages generally have at least a couple of witness signature lines, even though no witness is required here. I have no idea why that is, other than the fact that this is NY and we sometimes do things for absolutely no reason... Having a witness sign or not has no effect on recording here, as far as I know.

Of those states that do require a witness, most seem to accept the notary as one of them so I don't think it would be a problem for a notary in a non-witness state to sign. My question is whether the lender needs a witness for every witness line; I've seen some mortgages here that have four signature lines and four witness lines. Would I really need to drag in four witnesses for this lender?

Reply by Pat/IL on 6/5/08 12:35am
Msg #250055

One Size Fits All

These are just standard Fannie/Freddie forms that try to encompass all states' requirements. If a lender wants to make use of the lines in a non-witness state, I suppose they either: enjoy having the extra verification, or; don't mind having the borrowers drag in witnesses for every loan so they (the lenders) don't have to keep track of each states' recording laws.

Or maybe they have a good reason.

Reply by MikeC/NY on 6/5/08 5:06pm
Msg #250179

Re: One Size Fits All

"Or maybe they have a good reason."

I would love to know what the good reason would be - common sense tells us that a mortgage to be recorded in a state that doesn't require witnesses doesn't need to be signed by witnesses....

Of course, that assumes that the lender is using common sense...

Reply by JanetK_CA on 6/8/08 11:54pm
Msg #250485

Re: Next question: Can the Notary also be the Witness?

"Of those states that do require a witness, most seem to accept the notary as one of them so I don't think it would be a problem for a notary in a non-witness state to sign."

That's been my experience. I can think of two lenders who want some documents witnessed by the notary (here in CA) . Where there are two borrowers, they just want us to sign on the witness line for each signature, i.e. sign twice. Again, this is just for CA, which is not a witness state.

Reply by titleme2nc on 6/5/08 11:39am
Msg #250128

When Lenders want a witness, they should also be willing to pay for them upfront if they come with you or they need to inform the Borrowers that they need to get their own witnesses to be at closing.