Posted by Underwood69 on 3/28/09 8:39am
Msg #282489

rtc til

when giving these docs to borrower, are they from the loan docs, or from borrower's packet?

Reply by Yowheelz on 3/28/09 8:55am
Msg #282492

Kinda new at this are you? RTC, one signed copy per borrower goes back to title company. Make sure there are two copies per borrower in the borrower's package - this is a federal law. If you have made a complete copy for the borrower, as you should have, there will be a TIL in there. The TIL in the signed package goes back to title company.

Reply by Underwood69 on 3/28/09 9:59am
Msg #282507

Yowheelz, please refer to PM I sent you.

Reply by PA_Notary_II on 3/28/09 9:16am
Msg #282498

UNBELIEVABLE !!

underwood69 is operating in my territory and hasn't got a clue. I had a TC call me to do a job they had referred to her and said she didn't know how to pull e-docs. If you have to come to Not Rot to get answers to such fundamental questions, you shouldn't be in this business. I certainly wouldn't want you handling the most important transaction of MY financial life. Either put away your seal and give it up or get an education.

Reply by Underwood69 on 3/28/09 9:51am
Msg #282506

Re: UNBELIEVABLE !!

Your comment was not appreciated!! Yes, I am fairly new at this but I certainly know how to pull E-docs and what to give the borrowers. I have had excellent ratings from the customers I have worked for and have many recalls. I can say that I've never told a TC that I could not pull e-docs. Your slam was very unprofessional and way out of line.

From the answers to my question, I see that I should have worded my question a little differently because they are not at all what I was asking.

I simply needed some clarification which I thought I could obtain from this forum but I will get clarification elsewhere.

Reply by LynnNC on 3/28/09 10:49am
Msg #282510

Re: UNBELIEVABLE !!

I believe that I understand your question. You make two copies of the documents, one for the borrower and one for the lender and both include the RTC and TIL.

I make sure that there are sufficient copies of the RTC copies in the lender package so that I can give each borrower two and have a signed copy for each borrower in the lender package. I don't give them another TIL, but, point out that they have one in their package.

I always take time to put certain documents in order in the borrower package and show them to the borrower before I begin the closing: HUD, Note, TIL, First Payment Letter, Initial Escrow Letter, DOT, Riders, Itemization of Amount Financed, RTC, Application, and Amortization Schedule. I point out out the key informaton on those documents and say the other documents are forms that are in every loan package. I then give them a chance to look at the key documents while I write down their driver's license information in my Notary Journal.

I find that this procedure makes the closing go more quickly because the borrowers know the key information about their loan before they begin signing and they are less likely to pay much attention to the remaining documents when they sign.

Reply by Gary Boehm on 3/28/09 11:40am
Msg #282516

rtc til

Like Lynn I always go through the package and bring certain forms to the top, the RTC being one of them. In fact, before I even print the docs I go through the files looking for the RTC. About one out of four packages there aren't enough of them in the file itself - I have even received packages with only ONE RTC. Then I note the "page number" and print enough copies of that page separately. Some packages have one form with one page for each borrower's name so I need to print three EACH (one for Title co, two for each borrower) or six RTC's total, some packages have both borrowers on one RTC so I just print three RTC's total. I always have them sign ALL the copies and then hand two of them BACK to them which they have signed saying "These are the two copies that you just signed to say that you received".
I never rely on the copies in the borrower's set, in fact if I know I have printed the ones like I described above I know I can skip printing that page when I print the borrower's copies. But just to be safe I also print an extra page which I give to them if they mess up their signature OR to keep for myself in my files. I also do that for the TIL and the HUD.

Reply by PAW on 3/28/09 11:49am
Msg #282518

>>> some packages have both borrowers on one RTC so I just print three RTC's total. <<<

In the case where there's one RTC with both borrower's name on it, you need to have FIVE (5) total: 1 to be returned and 2 for EACH borrower (total of 4 borrower's copies).

Reply by Gary Boehm on 3/28/09 12:29pm
Msg #282526

rtc til

Whops you're right that's what I do because I print six actually, I keep one signed copy for myself for myself in any case.

Reply by LynnNC on 3/28/09 1:31pm
Msg #282531

Why do you keep a copy of the RTC for yourself?

Reply by Claudine Osborne on 3/29/09 9:50pm
Msg #282619

Why do you keep copies?

Why do you keep any copies of docs for yourself?

Reply by MW/VA on 3/30/09 7:55am
Msg #282633

Re: Why do you keep copies?

Wouldn't keeping a copy of docs for yourself be a violation of GLBA?

Reply by PAW on 3/30/09 8:06am
Msg #282635

Re: Why do you keep copies?

No. The GLBA is about **protecting data**, not whether or not individuals are authorized to keep the data. For that, the Privacy Act comes into play. If a person or entity is authorized to keep and maintain personal identifiable information (in accordance with the Privacy Act) then that person or entity must maintain the information in a safe manner (in accordance with the GLBA).