Posted by Ceci, CA on 9/10/04 8:19pm
Msg #7695

DOT

I encountered a situation recently where the borrower stated that the address typed on the DOT is not the address they wanted. They wanted the address to be changed and the loan officer told the borrower it cannot be changed. Is this true?

If the name or address is misspelled on the DOT, can the borrower cross it out and make correction and initial next to the changes made? Thank you for your feedback in advance.

Reply by Liz/MD on 9/10/04 9:19pm
Msg #7700

Usually via the title search all is found. I have been to refi's or home equities and have had the owners arguing with me in regards names on the title.
As to the DOT in my country no strikes at all allowed. Sorry.

Reply by Jon on 9/11/04 3:46am
Msg #7712

The address on the DOT is usually the legal address as recorded with county. In many areas the mailing address will be different. For example, the city Los Angeles covers a lot of territory. In order for the post office to make the mail easier to distribute, they will change the city from Los Angeles to Reseda. Now the people use Reseda as their address, but the DOT will read Los Angeles. Reseda is within the city limits of Los Angeles and not an incorporated city. The interesting thing is sometimes the older houses will be recorded as Los Angeles and the newer houses will be recorded as Reseda. I have done houses that are across the street and had different city names. Many times the borrowers will tell me that the DOT is wrong, I tell them to talk to the LO if they have questions as I do not have anything to do with the title report.

Reply by Jan Kohake on 9/11/04 10:23am
Msg #7723

Never change or correct on DOT. I usually just put a sticky note on the first page of the DOT indicating the concern of the borrowers and this will usually satisfy them.

Reply by Ceci on 9/11/04 11:44am
Msg #7727

Thank you!!