Posted by A Newbie on 8/16/05 2:57am
Msg #59327

same signing; same borrower; 2 DIFFERENT companies!!!!!

I keep getting jobs to do signings for borrowers that I have ALREADY done a signing for a few days PRIOR to being asked to do the SAME TYPE of signing -- but for a DIFFERENT title/mortage co.

In this case, SHOULD I TELL the last SS that the borrower has ALREADY done one for SOMEBODY ELSE just a few days ago?

Should I ask the borrower, "What's up with this?"

I feel as tho I am doing something WRONG! Am I?

Reply by BLE on 8/16/05 6:32am
Msg #59332

I've done a few like this. Usually it was just the borrower obtaining a 2nd or a Heloc with a different lender. A couple I did were for borrowers who had to carry an 80/20 split due to credit.

Reply by Sylvia_FL on 8/16/05 7:08am
Msg #59336

I did one a few months ago where the borrowers refused to sign. It was for a title company I do a lot of work for, and got paid on my invoice (trip fee and edoc printing)
About a week later I was contacted by another title company to do a signing. I accepted. When I got the confirmation it was for the same borrowers. They had shopped around and got a better deal.

I have had this happen a few times.
We do not need to inform anyone that this borrower had signed papers with another company only days before. That is their business, not ours. They may have signed documents, then used their RTC and then shopped around for a better deal.

Reply by Brian/CA on 8/16/05 9:19am
Msg #59350

Becareful you don't turn down a job. I am in a remote area, I had this same thing last week. It was a redraw. House appraised for alot more and they had to redo the docs. I have had quite a few of those lately. Different signing company each time. Take the call and verify with the borrower first if this is a resign. Then tell the signing company if need be.

Reply by Renee_MI on 8/17/05 5:35am
Msg #59572

IF I personally did two first lien mortgage signings for the same borrower for the same property, and days apart, I know that I would have a level of discomfort that would be sufficient for me to make a judgement call. Having experienced this scenario, and knowing that fraud is real and does exist and can cause others a lot of hardship - my own conscience would not allow me to risk being an inadvertant party.

There's a lot of 'IF's to SATISFY beyond a reasonable doubt, but for two first liens to be signed within days of each other - they'd have had to have been processed simultaneously, with both being unaware of the other.

However, THIS is one reason among a thousand why I could not imagine stepping into the shoes of an NSA - and out on the front line, so to speak - without adequate knowledge and experience to draw upon.