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100% agree with Linda on this.
Posted by  JanetK_CA of CA on 11/24/19 5:05pm Msg #612798
I also make sure that every borrower has *two* SIGNED copies of the RTC. If they decide to cancel, how many borrowers do you think will know how to properly fill in the transaction date and deadline to cancel date (if they're not prefilled) or to be sure to sign the acknowledgment of receipt with the correct date? Very few, I'll bet.

Also, true or not, an attorney told me years ago (after the 'mortgage meltdown') that she used those unsigned RTC forms as a tool to get clients out of bad loans, based on the statute quoted above by Linda. So while I generally print an extra form for each person, in case of error, I don't leave any blank RTC forms with clients.

As for how many forms of ID are required, as I recall, the lender is responsible under the Patriot Act to prove that the borrower has been properly identified, but it doesn't define what that means. So it's up to the lender to decide what method to use and how many forms of ID are requested.
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Messages in this Thread
 Questions for all the ex Escrow / ex Title folks out there. - Mills Mobile Notary Service on 11/22/19 2:36pm
 For a second ID I always use Social Security number. n/m - Colonel/IA on 11/22/19 2:39pm
 Reg Z mandates that each party in interest be given - Linda_H/FL on 11/22/19 2:46pm
 Re: Reg Z mandates that each party in interest be given - NK_UT on 11/22/19 3:18pm
 Re: Reg Z mandates that each party in interest be given - Anne McBride on 11/22/19 4:48pm
 Two copies if by paper, one copy if by electronic delivery - Linda_H/FL on 11/22/19 7:02pm
 And this is just me....but.... - Linda_H/FL on 11/22/19 7:05pm
 Re: And this is just me....but.... - NK_UT on 11/22/19 10:06pm
 100% agree with Linda on this. -  JanetK_CA on 11/24/19 5:05pm
 Am surprised you've not seen 6 most of the time. - Lee/AR on 11/22/19 3:17pm
 the companies I work for... - Connie Thingstad on 11/22/19 3:35pm
 What forms are acceptable is up to the lender. n/m -  JanetK_CA on 11/24/19 5:11pm
 I get all the RTC's in the pkg. signed. I print a copy of -  MW/VA on 11/22/19 6:50pm
 VA and Conventional loans have different requirements - Luckydog on 11/22/19 7:04pm
 Re: In response to a few RTC comments - NK_UT on 11/22/19 10:11pm
 Re: In response to a few RTC comments -  Doris_CO on 11/23/19 12:42am
 Re: In response to a few RTC comments - Lee/AR on 11/23/19 6:10am
 As do I - same as Doris and Lee - Linda_H/FL on 11/23/19 7:44am
 Thanks for the follow-up! n/m - NK_UT on 11/23/19 9:02am
 Re: Thanks for the follow-up! - Luckydog on 11/23/19 10:54am
 Re: Questions for all the ex Escrow / ex Title folks out there. -  Ellen The Notary on 11/24/19 8:15pm



 
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