Posted by Cris_AR on 8/17/05 4:50pm
Msg #59720

Help, 4 copies??

I have a new client, there are 4 copies or mortgage, I do not have borrower sign all right? It is my understanding that only one is legal? TIA

Reply by BLE on 8/17/05 5:02pm
Msg #59725

I've done a few where the borrower is required to sign 4 HUDs.

Reply by Cris_AR on 8/17/05 5:19pm
Msg #59729

I guess I will have them sign 2 and check back later, Thanks a bunch!

Reply by MaggieMae_CA on 8/17/05 5:32pm
Msg #59734

Certified True Copies

When I lived/worked (law office, real estate attorneys) in NJ we would have the borrowers sign an original and three copies. Original was sent for recording, one copy remained in our files and two went back to the lender.

Yes, it was 1,000 years ago and things have changed.

The 3 copies were certified by the attorney as being true copies of the mortgage. The loan signings I've done for FL properties usually have 2 to 3 mortgages/deeds of trust and the closing instructions state to send back the original and x number of Certified True Copies. I send everything back signed and the in house legal certifies the copies. In CA we are not permitted to certify mortgages/deeds of trust.

Just trying to show you that yes, sometimes they do want more than the original signed by the borrowers. There should be something noted in the closing instructions about it.

Reply by PAW_Fl on 8/17/05 6:24pm
Msg #59747

Re: Certified True Copies

AFS (Advanced Financial services) also requires 4 copies of the mortgage to be signed.

1 is the recording original
1 for the correspondent lender (AFS)
1 for the servicing lender (TBD)
1 for the borrower

Reply by CaliNotary on 8/18/05 12:04am
Msg #59823

I don't get it. If you're under the impression that only one is legal, why would you have the borrower sign 2 copies and not all 4? I can see having them do only one, I can see having them do all 4, but 2???

Reply by MelissaM/FL on 8/17/05 6:12pm
Msg #59743

I would have the borrower sign all 4 copies of the Mortgage. However, when there are multiple copies of a Note I will usually call and ask about that.

Reply by Nd_WA on 8/17/05 6:27pm
Msg #59748

Is this a Wells Fargo loan? I've done a couple and yes, all 4 copies are to be signed.

Reply by Brian/CA on 8/17/05 11:56pm
Msg #59819

If it is in the lenders package and they want you to sign all four, that is what you do. Better to do them all, and they don't need them, than not and they do. Chase use to have 3 DOT in every HELOC.