Posted by Barbara___IL on 3/24/09 11:58am
Msg #281955

Power of Attorney re-fi

I've never done a re-fi that used a POA before. It's a last minute signing which makes me wonder. They need the docs back tomorrow, because they say it has to be recorded tomorrow. Does anyone see any red lights? Thanks. B.

Reply by Yowheelz on 3/24/09 12:05pm
Msg #281957

It's probably a investment home or purchase that does not have a 3 day recission. They probably meant to say that it needed to fund the next day.

Reply by Barbara___IL on 3/24/09 12:17pm
Msg #281959

Thank you. I hope that's it. I am not sure how to handle the POA. Someone told me they don't even need to show me a certificate, but that doesn't make sense.

Reply by Lee/AR on 3/24/09 12:22pm
Msg #281960

The Lender has seen (possibly even drafted) the POA and is happy, so, no, you don't have to see it. Just be sure it's signed exactly as typed. A notary is not expected to 'upl interpret' whether or not said POA is 'legal'.

Reply by Barbara___IL on 3/24/09 12:33pm
Msg #281962

That sounds good to me, so whatever is typed under the document signature line is what she should sign. As long as I am sure, she is who she says she is, then, I'll be OK, right? Thanks so much. Barbara

Reply by CopperheadVA on 3/24/09 12:58pm
Msg #281966

When I've done POA signings, the wording is usually not typed on the signature lines. I always e-mail the TC asking exactly how they want it signed, as there are several different ways. I also ask for how they want it initialed.

Then I print it out, hi-lite it with a hi-lite pen and have it on the table as a reference for the borrower to use during the signing. This accomplishes two things:

1) You as the notary are not on the hook for doing it wrong

2) Gives the borrower a reference to use

When completing the notary block, my state of VA has me do the following:

Acknowledged - OR - Subscribed and sworn before me this ____ day of _____, 2009, by ___(name of signer)____ as attorney-in-fact on behalf of ___(name of principal)_____________.

If the POA is also signing for him/herself, I add ", and ___(name of signer)_____."

Reply by rengel/CA on 3/24/09 1:21pm
Msg #281968

For the newer notaries, when Copperhead states:
"Then I print it out, hi-lite it with a hi-lite pen and have it on the table as a reference for the borrower to use during the signing. "

this does not mean that the page being signed is hi-lited, it is a separate piece of paper with the instructions on it.

I've seen too many hi-lited loan docs recently and that just makes me twitch!

My .02

Reply by CopperheadVA on 3/24/09 1:24pm
Msg #281969

Ha-ha! You're right! Thanks for the clarification!

Reply by dickb/wi on 3/24/09 1:08pm
Msg #281967

i would think that you would....

have to have the jurats changed to acknowledgements un less you put the signers name on the doc being sworn to and not the borrowers name.....back to the old question...how can some one swear on behalf of some one else..........jmo

Reply by Barbara___IL on 3/24/09 2:12pm
Msg #281975

Thank you all for your help. It's great to know you're out there.

Reply by Pat/IL on 3/24/09 6:57pm
Msg #282015

Proper wording for Illinois

While the best answer is to contact the title company (through the ss, if necessary) for guidance, if no guidance is given, here is the most common wording used in Illinois:

[Signature, principal's name] by [signature of the attorney-in-fact], his/her Attorney-In-Fact

When initialing: [principal's initials] by [AIF's initials], AIF

Acknowledgement: ...personally appeared [name of attorney-in-fact], power of attorney for [name of principal]

Reply by Barbara___IL on 3/24/09 9:52pm
Msg #282025

Re: Proper wording for Illinois

Thanks very much!