Posted by CalGal on 8/31/12 1:09pm
Msg #432653
R T C
Has anyone had any problems with changing the incorrect transaction date for B of A? Word of warning...READ YOU INSTRUCTIONS! The protocol for incorrect dates on the RTC has always been to change to correct dates and have borrowers initial change. B of A instructions are DO NOT CHANGE DATES. Makes no sense to me, but I will abide by their instructions!
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Reply by Linda_H/FL on 8/31/12 1:26pm
Msg #432656
I don't change dates without consulting hiring party/TC
Not sure what "protocol" you're following but the rescission dates are not always black and white...so I don't touch unless told to.
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Reply by OR on 8/31/12 4:06pm
Msg #432670
I have never had a proublem with changing the RTC date. In this case I would call the hiring party and ask.
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Reply by Clem/CA on 8/31/12 7:15pm
Msg #432686
If you read them, most have an or this date or that date clause and changing them is not really needed to be valid.
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Reply by jba/fl on 8/31/12 8:09pm
Msg #432693
" changing them is not really needed to be valid."
OMG - don't count on that. ROFL
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Reply by DaveCA/CA on 8/31/12 9:04pm
Msg #432703
Don't change B of A RTC dates
If you do, there may be a redraw fee and you will probably have to pay for it. Just have them sign and date at the bottom. Of course, give borrowers their copies too. It says on the document that the 3 days starts from the last of three events. I believe the last event is the date they are signing. Good luck.
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Reply by CalGal on 9/1/12 5:12pm
Msg #432769
Re: Don't change B of A RTC dates
That you Dave!
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Reply by CalGal on 9/1/12 5:44pm
Msg #432779
Re: Don't change B of A RTC dates
Thank you Dave!
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Reply by Pro Mobile Notary on 9/1/12 5:55pm
Msg #432780
I actually took one of B of A's instruction sheets to our attorney to ask if we would be in violation of RESPA rules if we did not plug in the appropriate dates. Our attorney's response was rapid and certain:
"...keep a copy of their written instructions telling you to not change the dates in case there is any push back or issues surfacing later."
I think that advice remains sound.
If you get the B of A signing from a service ask them and make note of the date, time and person that gave you the answer that is they way of doing it. If the assignment comes to you from an escrow officer ask them and memorialize the response on paper or in a digital file, but you should not try to remember who told you what when you are dealing with issues that could have legal implications in your direction. It is always best to be safe rather than sorry.
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