Posted by Anonymous on 8/3/05 11:16pm
Msg #56823

Has anyone seen this?


Lender: "Your Payin Too Much" Mortgage Co.


(State) Closing Contract

Borrower(s): John a Doe Jane B Doe

Property Address: 123 XYZ St. Anytown USA

Loan NUmber: 1234567890

I, Notary Name of Company you represent hereby state
that I have not given any opinion to John A Doe and Jane B Doe
on the affects of the closing documents and that by law I cannot give an expressed opinion on the closing documents.

_____Notary signs__________8/3/05_______
Date

I/We acknowledge state that the statement made above by the Closing Agent is true.



______John A Doe_________8/3/05_______ ____Jane B Doe_______8/3/05_____
Applicant Date Applicant Date



_____________________________________ ______________________________
Applicant Date Applicant Date






I was told BY the Mortgage Co that as the agent physically closing the loan (even though I am not a "closer" marking up a HUD) that I am to sign this since the "closer" (at the title company) should and is always referred to as the SETTLEMENT AGENT. SO, this is in reference to me...the notary doing the closing.

How's that? Has anyone else seen this? This is the first I have come across this and I have been told that these are used more and more. Mind you I have done closings for this lender before and have not seen one of these before.

Any input????

I'm not saying the state or lender name. JUST asking if this is something new since I have done this for 5+ years

TIA

Reply by Pete/NY on 8/3/05 11:52pm
Msg #56831

Anon, I have been adding a Notary Disclosure document similar to this to all the packages I have witnessed over the last 4 years. Never had a problem.

Reply by Lee/AR on 8/3/05 11:54pm
Msg #56832

Nope. But it looks like a pretty good CYA to me. If they rescind for whatever reason, at least the lender can't go yowling to anyone that "it's all that big-mouth Notary's fault....don't ever use him/her again!" Also might contribute to--- uh---'more informative'--LO's. They can't blame the notary any more.

Reply by Anonymous on 8/4/05 8:20am
Msg #56856

BUT this isn't a form I made...it's


from the lender. It was in their package. I didn't have anything to do with making it up. AND, when I asked a banker about the form (since I thought maybe it was a new one?) They said that there are new forms like that or that banks/lenders are using for themselves even when they are quoting people rates, etc to disclose to the borrowers that THEY gave no legal advice in regard to taxes, etc.

SO, what I'm saying is...THIS form was already IN the loan package and I had never seen one of these in 5+ yrs. Thus why I thought maybe it was a new thing now.

Reply by Brian/CA on 8/4/05 8:26am
Msg #56857

Re: BUT this isn't a form I made...it's

I cross thru closing or settlement and change it to Signing (Agent) and initial and have borrower's initial if they signing it also. Never had it come back to me.

Reply by TinaG_CA on 8/4/05 10:34am
Msg #56890

Re: BUT this isn't a form I made...it's

I've seen similar forms. One time I had a form that the borrowers acknowledge that I did present the docs and that I gave them plenty of time to read them. They sign and date as did I. I always cross out the closing agent and put signing agent.

Reply by Mary on 8/4/05 10:38am
Msg #56891

Re: BUT this isn't a form I made...it's

I have never had to sign the HUD, because that is for the settlement agent and also the small print on the HUD says that this statement is true and accurate. So if you the notary sign and something is wrong, they are going to come after you. If I was you don't sign.,.....

Reply by Charm_AL on 8/4/05 10:39am
Msg #56892

Re: BUT this isn't a form I made...it's

True, we don't sign the HUD because we didn't prepare it

Reply by Shannon/Va on 8/4/05 1:27pm
Msg #56925

Re: BUT this isn't a form I made...it's

The person that signs the HUD isn't always who prepared it either. I do sub contract work for some local attorneys and I prepare the HUDs for their closings but their office has to sign them BECAUSE they are the parties who handle the disbursements/money. The escrow agent signs the HUD.