Posted by Anonymous on 8/31/05 1:39pm
Msg #62918
need help with a 1st and 2nd
I have a 1st and 2nd signing this evening and i have all of the pages printed. Looking over them, though, a lot of the pages dont have places to initial. ie; the uniform settlement, and the mortgage. any help is appreciated. also, the closing agent is not me, correct?
| Reply by Art_MD on 8/31/05 1:46pm
Msg #62921
It depends on the lender and title company as to what gets initials. It half and half as to initialing each page of mortage/dot. Half have a space, half don't. BUT, read instructions carfully. Sometimes the instructions say "borrower to initial each page of DOT and note", but there is not an initial line. In this case, initial in botton right corner.
You are not the closing agent. Take some time and read the pages where the closing agent signs. You will see that you didn't do the items on the page - dispursements, checking title papers, etc.
Good luck. Keep packages seperate. Look at the HUD for the first. See if there are funds from the 2nd being used for the 1st. Make sure you understand the relationship between the 1st and the 2nd.
Art
PS what state?
| Reply by Renee Starkey on 8/31/05 1:47pm
Msg #62923
thank you for you response, i am in ohio.
| Reply by Renee_OH on 8/31/05 1:48pm
Msg #62924
ooops, signed that one with my name n/m
| Reply by Art_MD on 8/31/05 1:56pm
Msg #62927
Re: need help with a 1st and 2nd more help
If you haven't done a piggyback before, I suggest that you do the following:
1. Put huds on top of each package.
2. Do 1st. If you must refer to 2nd because there is $$ from 2nd going to 1st, do so. With hud on top, you can easily do so.
3. Finish 1st, pack it away.
4. Do 2nd.
You don't want to mix up any docs.
Art
| Reply by Renee_OH on 8/31/05 2:08pm
Msg #62929
Re: need help with a 1st and 2nd more help
Thank you again for the help. So on the docs if it does not have an initial line, its not required, right?
| Reply by lindetteh on 8/31/05 2:16pm
Msg #62936
Re: need help with a 1st and 2nd more help
I Usually have the borrower initial every page they do not have to sign this way they have seen every piece of paper in the package Ive been in the buisness for 4 years never had a problem
| Reply by MistarellaFL on 8/31/05 3:57pm
Msg #62983
Check your closing instructions and signing instructions 1st
Sometimes, Renee, there may not be a place to intial, but is required. If it is required, it will be listed on the signing instructions or the closing instructions. Been there done that, sometimes it is a lender or TC requirement. I don't know why they would send the docs w/o a place to initial when they want them to, but they do, occassionally.
|
|
