Posted by Jersey_Boy on 12/20/05 8:36am
Msg #83576

Borrower has a check at Signing.

I do not take checks with me from the signing table. If and when the TC/SS/Lender wants me to pick-up a check from the signing table I always tell them:

I do not feel comfortable taking checks from the borrower at the time of signing. Please email the address you would like the check sent to and a FedEx or UPS account number. I am more than happy to prepare a FEDEX or UPS return envelope to leave with the borrower so that they may send the funds directly.

I have never had any complaints from the TC/SS/Lender doing it this way.

Maybe I'm a little too paranoid, I just hate the feeling of driving around with a check for Umpteen Thousand Dollars. I make it very clear to every borrower that I see that I am a Notary Public only. I am not a "CLOSER." In my eyes, closers handle funds... notaries do not.

What do you think? Am I only making my job more difficult? Any opinions are appreciated.

Reply by CarolynCO on 12/20/05 8:42am
Msg #83578

I've never had a problem collecting a check at the table and including it in the return package. First, it's not made out to me -- it's made out to lender, TC, etc. Also, if the amount is for umpteen thousands of dollars as you say, Borrowers were instructed to obtain certified funds.

If anything, you should be more concerned with driving around with Borrowers personal and confidential information more than their check. JMO.

Reply by Bonnie_CO on 12/20/05 8:46am
Msg #83581

I agree with Carolyn. The info in the loan docs could definately do more damage if it were to get into the wrong hands!

Reply by Beth/MD on 12/20/05 9:08am
Msg #83591

Every now and then you have to collect a check from the borrower. It's part of the business. If you're treating the return package (signed docs + check) with as much care and caution as the pre-signed package, what's the problem?

Reply by Deb_CO on 12/20/05 9:07am
Msg #83590

The check is usually made out to someone else--most often, Title. I've had these handed to me for many years, both personal and certified funds, and see no problem doing so--you're there to help get things done, and the proceeds are part of that. To ease my mind,(sometimes the funds are enormous amts) I copy or write down all the pertinent info of the check on my OC, so I have a record that I did have it at one time. I enclose it in an marked envelope, attach it to the HUD and send it all on its way--never a problem to date.

Reply by Mike_NJ on 12/20/05 9:12am
Msg #83596

No problems with checks, the largest one I've had was for 300K for a new purchase in Florida. I staple the check to a colored sheet of paper everytime.

Reply by Charm_AL on 12/20/05 9:21am
Msg #83603

I 've collected funds at the table, the only problem I had was one borrower wrote a personal check and I had to take her to the bank to get a certified one to finish the closing. I just clip them to the HUD.

Reply by PAW_Fl on 12/20/05 9:20am
Msg #83602

You are more than just a Notary Public. You are a Signing Agent and as such, if allowed by your state, you are acting under the direction of the title company, lender or escrow agent. Collecting a check, whether certified or not, made out to the title company or whomever (just not you), is a part of being a Signing Agent and offering good customer service.

I've never had any issues with picking up a check from the borrowers/owners and attaching it to the HUD at the table to be returned with the documents. For surety, I make a reduced copy of the HUD with the check stapled to it to show how it was included in the return package.

Reply by eXpedN_TX on 12/20/05 9:23am
Msg #83604

Good question Jersey_Boy, I understand your concern. I agree with the others that it is ok to take the check and put it in with the paperwork. I always email a note to co. that hired me saying that the check is in there. The borrowers have a paper trail for it, whether it be their personal check number or a cashiers check receipt, in case there is any question.

Reply by Jersey_Boy on 12/20/05 9:26am
Msg #83605

Well then I guess I am just making my job more difficult. Thanks everyone. I appreciate your opinions!

From now on, I'll just take the check.

Have a good holiday everyone!

Reply by eXpedN_TX on 12/20/05 9:33am
Msg #83608

You have a good Holiday too!!!

Reply by Tina_MA on 12/20/05 11:14am
Msg #83643

Years ago, a TC that I worked with extensively called me for a purchase signing the next day.

They were in a tizzy because the lender had not sent over final docs, and it was going on 5:00 pm. They were going to have to send me e-docs, but one cannot send e-checks.

So, they informed me that they would be overnighting me five checks, two of which would be signed, but blank. Once they received the docs and final approval of the HUD, they would tell me who to make the checks out to and their amounts.

Quite frankly, I was impressed that they trusted me with their blank signed checks. Once they sent me the info for the checks, I dusted off my old typewriter, filled in the checks, and then completed the signing.

I will admit that I felt a little thrill looking at the blank signed checks....it was half a of dream come true.....I've always wanted to receive a blank check from someone with deep pockets. Too bad I couldn't put my own name on them. :-(