Posted by TrayKy on 8/18/05 3:19pm
Msg #59954

Signing BRW's copy of RTC

This may sound simple but on the RTC it states that the borrowers should receive two signed copies of the RTC. A T/C said that this means the copies that the BRW's keep should be signed at the table and remain with them. Is this something everyone does? Just wanting to pole. Honestly, it has never been a common practice of mine. I understand the reasoning but just never had them do it. Whatcha think?

Reply by Sara-NV on 8/18/05 3:27pm
Msg #59958

Absolutely! If the dates on the RTC are not filled in, or not accurate, you as the notary signing agent complete/correct the dates and have the borrowers sign all copies of the RTC, leaving the borrowers' copies with them. That way, if the borrowers wish to cancel, their copies have their original signatures and correct dates.

Reply by Brian/CA on 8/18/05 3:28pm
Msg #59960

I have always had the borrower's sign all the copies at the table, if I am able to check the package and there are not enough RTC's I copy the extras needed. It was the practice of the lenders when I started to sign all the copies, now it is just a habit.

Reply by ivanafive on 8/18/05 3:29pm
Msg #59961

I always have the borrower(s) sign the specified # of RTC's. If you get e-docs, make sure you allow for sufficient copies to be given to borrower(s). If loan package/borrower copy has sufficient copies, use that, but have the borrowers complete/sign.
While it doesn't happen oftern (thank god!) things can and do go awry on a loan and the last thing you want to do is be the middle with lender/borrower pointing fingers at you.

hope this helps.

Reply by Anonymous on 8/18/05 3:42pm
Msg #59965

Do they sign their copies?

Reply by TLR_KY on 8/18/05 3:56pm
Msg #59973

Yes. They are to sign their copies too. I now have everyone sign all copies including the ones they keep. The reason I ask this is because I know that I didn't and started because I realized the reasoning but was wondering if others made this mistake.