Posted by oldhippie_IL on 8/21/05 8:41am
Msg #60536

Bad Signing

Went to a signing yesterday that didn't take place. It started out as a nightmare. SS stated they would fax over confirmation. Never happened. Docs should show up by 10 next day.(Saturday) Didn't happen. Signing was soppose to take place at 12. Here comes UPS, it's 12. Docs are here. I couldn't even call borrower, no confirmation. Saturday, no one at SS. The dates on the loan where for the day before, which I didn't like. Figures are wrong. Explain to borrower RTC. There aren't any! Borrower calls lender. They say they don't have RTC! Anyone ever here of that? Well, no closing. Smart man.

Reply by Hampton/CA on 8/21/05 8:50am
Msg #60537

Was it a second home or investment property? If so, there's no RTC. As for the rest of it, that's the nature of the business.

Reply by oldhippie_IL on 8/21/05 11:17am
Msg #60562

Yes, he was buying his mother's condo. Figures were wrong. Names were spelled wrong address's were wrong. He just wanted everything fixed before he signed anything. I guess his son is in the loan business, that is how he knew about the RTC. So now what, I can't even get ahold of my SS, the phone keeps ringing when I try to call them, and no machine. I thought at least I would leave a message and let them know what is going on. Even though I didn't get a confirmation.

Reply by LawrenceOK on 8/21/05 1:04pm
Msg #60580

It might be the beast of the business Hampton, but it should not be. It's just another sign that some companies cant pull their head out of their A**'*s

Reply by Peg on 8/21/05 12:21pm
Msg #60573

just had one yesterday with no RTC, lender explained that because it was an INVESTMENT property they forfit the RTC go figure. She did not sign :( but i get paid anyway!!!

Reply by Sylvia_FL on 8/21/05 12:54pm
Msg #60577

Yes, the law only provides for an RTC on the borrowers primary residence, so if it is an investment property or vacation home there is no RTC - although some lenders will give one, but they are not required to do so.

And if it is a streamline refi, then there isn't usually an RTC in there.

Reply by oldhippie_IL on 8/21/05 1:49pm
Msg #60586

OK, got another question. When I have to notarize, it has different state, different county, I do not work in that state or county. Then what?

Reply by MB_AZ on 8/21/05 2:48pm
Msg #60597

So far, the SS have just told me to mark out wrong state and county and put in correct info. I've had to do this quite frequently so now I automatically make the changes without asking the SS or TC.

Reply by oldhippie_IL on 8/21/05 3:13pm
Msg #60605

This has just been such a nightmare, I'm going to let the lender and borrower handle it.

Reply by Peg on 8/21/05 3:53pm
Msg #60610

In the State of FLorida its required to have the Correct State/county writting in the wording. So when it is incorrect, I cross it out Inishall the change and put the proper information in there. If its so messy or small a space that I cant accomplish it, i use a serperate attachment for the notarial act. cross out the old one and inishall it.

Now those who may want to disagree go ahead, maybe there are better/other ways to handle it. but to my knowledge, in florida we can only noterize docs for our state. So the wording must reflect that.

Good luck ---- Peg

Reply by Sylvia_FL on 8/21/05 3:54pm
Msg #60611

If you are talking about the venue on the notary certificate, you are responsible for making sure the venue is correct. You need to line through the wrong state and county and insert the correct one. The lender nor the borrower can alter the notary certificate. You alone are responsible for the information you are signing your name to.

Reply by CaliNotary on 8/21/05 7:58pm
Msg #60641

"OK, got another question. When I have to notarize, it has different state, different county, I do not work in that state or county. Then what?"

You're kidding, right? If you don't know the answer to this question you definitely should NOT be doing loan signings. This is basic basic notary stuff.

Reply by Anon on 8/21/05 8:07pm
Msg #60644

The RTC does not apply to all loans. If he was refinancing a non-owner occupied property, there is no RTC, for example.