Posted by Anonymous on 12/24/05 2:09pm
Msg #84540

Request for notice of default

I am a new NSA. I came accross this document, "Request for notice of Default". I am not sure if I need to notarize it at this time or if this is for future use. There is a space for client signature and notarization. It is a heloc document that is part of an 80/10/10 loan. Thanks for your help and Happy Holidays.

Reply by Bjorn Stringham on 12/27/05 1:44am
Msg #84626

The Request for NOD is included in the docs by the lender and is actually for the benefit of their intended Investor. The Investor wants to be made aware of any filings of NOD's during the life of the loan, if the borrower defaults on the loan. The filing of the NOD can be at 30 days of default or greater.

This document often is included but is not to be notarized at the time of signing. I bet the space for client signature was not pre-filled with your borrowers name and was, in fact, blank.

Reply by Carmen Flores on 12/27/05 11:07am
Msg #84634

The client's name is typewritten on the form. The only concern I have is that it has a lot of blank spots.for when and where it got recorded and the page of the book which can only be filled up when this document gets recorded. Thank you for your response.