Posted by KEZE on 7/23/04 8:38pm
Msg #4889

wrong spelling of name

What do you you do if the lender and or title company misspell the borrowers name?

Reply by Sylvia/FL on 7/23/04 8:49pm
Msg #4890

Call the company and ask them how they want you to handle it - but the name affidavit is not to correct name spellings if they suggest you use that. That is ony for names they have been known by, not for mis-spellings.

Reply by Negretes Notary Service on 7/23/04 9:25pm
Msg #4891

Is not the error & ommissions document for that Sylvia ?

Reply by Sylvia_FL on 7/25/04 9:42am
Msg #4934

That would be the obvious solution to use the errors and omission doc to correct the names, but then, whenever have these companies used the obvious solution.
I had one signing where the wife's name was wrong on all the documents - they had transposed two if the letters in her name. So, call the company to see how they want it handled. They said to have her line through the incorrect spelling, correct it and have both borrowers initial the corrections. This was one of those huge packages.
Did the signing, sent the docs back. A few days later I get a call from the borrower, we had missed some of the mis-spellings (where the names were at the top of the doc), and lender had returned the docs to them for them to correct the ones we missed. No problem, except that the lender had told them they had to use the same pen as they used to sign the docs!!! So, borrower wanted me to drive out there and take the pen they used to sign the docs! Luckily they were only about 5 minutes away from me!

Reply by chars4d on 7/23/04 9:43pm
Msg #4892

I had the unfortunate circumstance of having that happen recently. Luckily, I was at the Borrower's place of business and new docs were faxed immediately. New docs should be issued. I don't believe the the E&O form would cover the misspelling on a Mortgage and Note. I'd be more comfortable with new docs, as I'm sure the Borrower would also.

Reply by Tammy Jurgens on 7/23/04 10:32pm
Msg #4894

Call the lender. I've had some that had no problem with having the borrower line out the misspelled name and writing their name in the correct way (initialing the changes of course) and others who wanted me to return with redrawn docs. Always check with the lender on their policies -- they all have different ones.

Reply by KEZE on 7/24/04 9:36am
Msg #4905

I called both the vendor and the lender but both were closed already for the weekend. 123Notary recommends having the borrower initial every place in the loan documents where the name is misspelled (which was on EVERY page!). This way the title company or lendor can fillin the proper spelling. I included a letter in the package infomring them of this. I also called and left messages with both companies and will also call first thing Monday morning.

Hopefully it all works out!

Reply by redonthehead on 7/24/04 3:10pm
Msg #4913

Many lenders will have you have the borrower sign his/her name in its correct form and then a modification agreement for the right spelling of the name will have to be signed by the borrower and then notarized. Most lenders do not want ANY changes to be made on their docs except to the "Right to Cancel" dates, which have to be the day of signing and the rescission date.

Reply by Glena on 7/24/04 7:28pm
Msg #4923

Did one this week. To correct it contact the lender/Title company. Depending upon their response, you might need to cross out the wrong name/spelling, have the borrower initial the changes and have them sign using the correct name, but only after getting the authorization from the Title company or the lender. Make sure you note who authorized the changes made, why the changes were made, and send it along with the documents in the package.

Reply by derf4me on 7/25/04 2:22pm
Msg #4936

I had this happen on two different occassions, and it is a true pain in the butt. The first time, I was not sure how to handle the situation (I was very new). I had also read that some title companies do not want you to alter their docs at all. It was after hours (figures!), and I didn't know what to do, so we left our phone messages (title co. & ss), wrote a note, and proceeded with the signing the best we could.

The title company later griped me out for not making the changes, but I do not like to assume. They sent me back to make changes/get initials. When I got the docs back, I found out they would have had to send me back anyway, because they need to add a grant deed (the misspelling was from their original deed).

A couple of weeks ago, I went to another signing with a misspelled name. It was during business hours, thank God, and the title company advised me to have the borrower correct each place his name appeared. WHAT A PAIN IN THE BUTT. It was a 100+ page packet, and his name appeared at least twice on each page (at the top and at the signature line). The signing took forever.

It drives me nuts when the companies don't check their facts before drawing docs. What a waste of time...correcting their 200+ errors.

Oh well...that's my gripe for the day. Thanks for listening. :-)

Reply by CA_Notary on 7/26/04 1:22pm
Msg #4982

It should also be said that if you get sent back out to make additional corrections due to this type of mistake, make sure you're charging the title company or SS appropriately. If it's your own screw up fix it for free, but if it's their screw up make sure you get paid!

Reply by derf4me on 7/26/04 11:22pm
Msg #5018

They didn't want to, but they paid me for a second trip. They were LOOKING for something I did wrong, so I would have to go out for free. The fact of the matter was...they screwed up. It happens.