Posted by Charm_AL on 12/20/04 5:40pm
Msg #14199

Recording Check

Good evening folks...
I did a few signings at the local HFC office and tomorrow morning I am traveling to a customer's home to do my first "At Home Signing". Within my doc pasket was a check made out to Jackson Co Probate from Citicorp.
Unfamiliar with this...Am I supposed to file this check or give it to the borrowers? I tried looking it up in past posts but couldn't find any question similiar...TIA

Reply by Holly/NC on 12/20/04 6:10pm
Msg #14204

I would send that back with the package. Chances are, it's going to a title company, who will coordinate the recording of the document. When in doubt, though, call whomever assigned you the signing.

Reply by WanderWomn on 12/21/04 2:56pm
Msg #14259

Re: Recording Check - Check Disbursement

Regarding "Check Disbursement:" We NEVER DELIVER FUNDS to borrowers, but may collect them. Anyone dispute this?

Reply by Art_MD on 12/21/04 2:58pm
Msg #14260

Re: Recording Check - Check Disbursement

Agree.

The 3 day right to cancel has a lot to do with that.

Reply by PAW Notary Services on 12/21/04 4:03pm
Msg #14261

Re: Recording Check - Check Disbursement

>>> We NEVER DELIVER FUNDS to borrowers <<<

Never say NEVER. While this may be true for 99.9% of the refi's you do, it certainly is not a NEVER situation. I have done "mail away" purchases where I've handed the borrowers checks at the end of the closing. Of course these are "wet" closings and RTC is not involved.

But, in general, I will say that MOST of the time, the types of signings that MOST agents will be doing, are refi's or seconds with an RTC and thus "dry".