Posted by Marian_in_CA on 7/12/12 12:58pm
Msg #426520

Saw this elsehwere...

I'm not entirely sure what to think... saw this posted on another location and thought I'd share.

"My signer said - I do not want to initial every page of the loan documents because that would mean I agree to those pages and I do not have the time to read them thoroughly. I will just sign those pages that need to be signed.??? I insisted, and told them that the reason I have them initial each page that is not signed is to show that the borrower saw them and that I did not forget to put that page in the set. I explained that my E & O insurance would have a problem if I could not prove that the borrower saw all the pages.

they huffed and they puffed and then they initialed every page. I would have stopped that signing if they did not initial, but in telling them that - the signing took over 3 hours because they read every page."

Am I reading this right? Is this notary saying that she always has her borrowers initial every single page of a loan package, no matter what, because her E&O insurance would have a problem with it?

Reply by JPH13/MO on 7/12/12 1:02pm
Msg #426522

Wow, glad she didn't do MY refi n/m

Reply by jba/fl on 7/12/12 2:43pm
Msg #426530

My LO would have heard about this right away. WTH?! n/m

Reply by Marian_in_CA on 7/12/12 4:03pm
Msg #426535

Re: My LO would have heard about this right away. WTH?!

I know, right? Let's just say that this was posted on forum for an organization that we all uhm... know and love.

I'm sure you're shocked.

Reply by bfnotary on 7/12/12 4:29pm
Msg #426539

Re: My LO would have heard about this right away. WTH?!

That is crazy and very time consuming. lol. And a very mis understood notary maybe?

Reply by MW/VA on 7/12/12 6:35pm
Msg #426565

I've seen instructions from some companies that they

want every page initialled that isn't signed. I've never done it. It must be their QC for the "point & sign" notaries that only pull out signature pages & skip the rest of the docs. IMO it is a stupid way to assure that the job is being done.
I routinely have them initial the HUD, Note, DOT, 1003.

Reply by bfnotary on 7/12/12 6:43pm
Msg #426569

Re: I've seen instructions from some companies that they

Those are good ones to have them initial anyways. BUt by the way it sounds that notary has them do it on all pages all the time because of her e & o insurance. Or am i reading that wrong?

I as well have had a few where they were in the instructions, so I did it. But No way am I doing that on every signing lol. That would just take up a lot of unnecessary time. And someone please correct me if I am wrong but regular e&o insurance only covers notarial acts? correct? And signing agent insurance covers the execution of complete signing? right?

So having them initial every page wouldn't effect anything where e & o is covered anyways?

Reply by jba/fl on 7/12/12 7:22pm
Msg #426573

Re: I've seen instructions from some companies that they

No, that is how I read it also.

If in instructions, then fine. But I have seldom seen instructions to that effect, except in XYZ' s training, saying that it should be done so that you could prove the BO's saw the page. Nonsense.

As to insurances - yes, correct. right.

Initialing would not - just spends time you could spend @ home w/own family, etc.

I think I covered it...should have just said, "right on all counts." LOL

Reply by MW/VA on 7/13/12 9:09am
Msg #426633

Is that actually in XYZ's training? OMG!!!!! n/m

Reply by Marian_in_CA on 7/13/12 9:23am
Msg #426636

Re: Is that actually in XYZ's training? OMG!!!!!

Well, it was posted in an XYZ forum on LinkedIN.... but I don't recall that being part of their training.

I think it's more an issue of the notary not understanding what E&O covers.

Reply by JanetK_CA on 7/13/12 4:25am
Msg #426621

O.M.G.! Unbelievable - and scary! n/m

Reply by VT_Syrup on 7/13/12 9:12am
Msg #426634

A problem we all have using these kind of forums to ask about notary questions is it isn't practical to copy the documents (with personal information changed or obliterated) someplace where the other forum members can see it. Here we have a case of 100+ pages of loan documents and at least 1 page of instructions to the notary being summarized in 149 words. It's a lot of work to accurately summarize a complicated situation in a hundred or so words in a way that everyone interprets the situation the same way. Unless I found out otherwise, I would suppose the poster in "another location" was a competent signing agent, who meant that the signer objected to initialing pages that has something like "Initials ____" at the bottom of the page.

Reply by Marian_in_CA on 7/13/12 9:22am
Msg #426635

It was posted on the XYZ forum on LinkedIn... posted in response to an editor's request for stories about illegal/crazy requests.

Reply by JanetK_CA on 7/13/12 8:51pm
Msg #426772

"I would suppose the poster in "another location" was a competent signing agent"

One would like to think... however, it occurred to me that this might be at the root of the problem. If the notary was NOT a competent signing agent, they might have completely misunderstood the instructions - and then tried to quickly summarize what they didn't understand properly to begin with.

This is like the old "telephone" game - and one of the reasons why I'm often sounding like a broken record [I'm going to have to find a new analogy for this... ] for people to be careful about what they read on this and other forums. A great deal of misinformation - or what I would consider just plain bad advice - gets posted, imo.