Very common for me when multiple signers signing on different dates and a "final" funding date.
Purchase Borrower Wife signs 8/7, Husband signs 8/9, funds released on 8/10 (title bring down and recording date; title clear, good to fund).
Unlike the standard unchangeable government approved form text (typical mortgage loan documents): Difference for me is the legal documents are drafted with, for example, "as of August 10, 2018" or "effective as of August 10, 2018" as the date. Each signature has a "date signed" line next to it and, of course, the individual notarization block dates match the date signed of the person whose signature was notarized.
Most I've seen, 8 signers in 7 different states, took weeks to get everything signed, so the text read "as of ______________, 2018." The as of date was completed using the last date the document was signed.
Hope this was helpful to all in understanding why "signed" and "effective" dates may be different. Also, seen a few where the effective date was prior to the date signed (all agreed to the deal and wanted transaction and figures to be effective as of a certain date, but couldn't get everything signed and together on that date; funds held in escrow) - notarization date is always the date the signed appeared before notary. Sophisticated lenders, title companies and participants understand this. |
