Posted by terry/ca on 4/19/05 11:57pm
Msg #32777

dates on docs after date we signed

I went to a signing tonight where the date on the docs were 4/29 and we are signing with 4/19. I have only seen docs that have the same date as signed or pirior but not after. Is this the same as backdating? Can I do this legally? It was a friend so we held off until tomorrow. Also the had a payoff statement in pkg that the amt was away off and a jurat was at he bottom . The borrower was to swear that the info was true when it wasn't. I know payoff amts are not exact and they may include up to two more months interest than their statement shows but this amt was about 4 more months interest. How can I ask the borrower to swear to that if it's not the truth. I saw the statement and know they paid april pymt. It was a Wells Fargo loan. Thanks all for your help. This is a first chat I have ever entered But I did look through all of the info in the chat threads and didn'tsee anything specifically answering this.

Reply by Sylvia_FL on 4/20/05 12:11am
Msg #32778

As soon as I saw the subject line I knew it was going to be a Wells Fargo

This is a loan program that Wells Fargo has where they send the docs to the borrower and the borrower is responsible for finding and paying the notary.
Just don't worry about the dates on the docs, just make sure your notary certificate is filled out legally - for the date you are doing the signing. The docs won;t be effective until the date on them, but it is OK for us to notarize them for the current date.

And we do not have to go over the docs with the borrower, we are acting simply as notaries, we have to treat these as regular notarizations and not as signing agents.

Now - you can tell the signer that you can do the notarizations and go over the docs with her, but for that extra service you get paid your signing agent fee.
I have offered to do this with the borrowers before, but they always just want to pay the notary fee (it doesn't stop them trying to ask questions though, I just don't answer them)

Reply by terry/ca on 4/20/05 12:23am
Msg #32779

I am so grateful you answered Sylvia. I have been reading the postings lately and could see you are one of the best. I will now feel comfortable letting the docs go. Now, can I implore you or anyone for the answer to the 2nd question I asked regarding the payoff? As far as my pay goes this is a good friend and it is pro bono. Thank you so much for your help.

Reply by Sylvia_FL on 4/20/05 12:43am
Msg #32780

As far as the payoffs, all I can suggest is that your friend calls Wells Fargo and discusses it with them.

On your notarizations, make sure you date them for the actual date you are notarizing

Reply by terry/ca on 4/20/05 12:57am
Msg #32781

Thanks again, Sylvia, That is actually what I told my friend to do. I'm afraid they'll give my friend some mumbo jumbo and then it will be back on me to have my friend swear to an untruth since it is a jurat.The new loan amt too will be for more than the borrower needs and he'll be paying interest on the higher amt unless they change all the docs. It seems that may have been their intention in the 1st place.

Reply by Sherri_IN on 4/20/05 6:57am
Msg #32794

Have your friend look at the payoff statement for a date that says this payoff is good to _____

This will be the date that the interest was figured to. They may have done a 90 day payoff statement. Also was their old loan a FHA? if so they would have to pay a full month of interest no matter what day it was paid off. So if it was paid off May 2nd they would have to pay interest to May 31st.

Reply by Art_MD on 4/20/05 7:05am
Msg #32797

Re: this is for a friend - pro bono. If you do it as a friend at no cost, you may not be able to expense your mileage for tax purposes. If you charge a nominal fee - $1.00, your travel, which sounds like it's a couple of trips, plus mileage to drop off package etc. becomes business expenses.

Art

Reply by terry/ca on 4/20/05 11:38am
Msg #32868

Art, Thanks for the tip about $1 pro bono.
Sherri, This is not an FHA loan. Docs are at borrowers so I don't know about the 90 days written in but the amount of interest was over 4 months worth on top of their current statement. Borrower called and said Wells Fargo did overestimate and he will get a refund for the difference that he can apply to the principle if he wants. ( he doesn't seem to care that his pymt will be a little higher because of the higher loan amt) They also said since we're in CA . we dont have to notarize the jurat on the payoff stmt.
Thanks all of you-Sylvia,Sherri, Art, Dee. Your input is so appreciated.

Reply by Dee-FL on 4/20/05 7:08am
Msg #32800

Sylvia's full of knowledge

Sylvia is very knowledgeable when it comes to notary laws, dos and don'ts, etc. I always look for her response when I'm not sure of something. It's great to have this much respect on these types of boards. You've definitely made a name for yourself here...You go girl.