Posted by Anonymous on 12/9/05 3:12pm
Msg #81499

Whose names goes in here?

Doing a RETS signing in a couple of hours (1st time for them) and in reviewing the docs I ran into one I have a question on and I hope someone can answer for me. I did a search but this was not addressed.

Correction agreement - limited power of attorney

Has the usual verbage but then it states:
Further, undersigned borrower(s) do hereby make, constitute and appoint____________ as representative of Closing Agent, to execute, acknowledge and deliver in my name any instruments that are subsequently lost, misplace or accidentally destroyed.

Whose name goes in the blank??

Thanks in advance for your help.

Reply by BrendaTx on 12/9/05 4:57pm
Msg #81525

I think they intend for it to be left blank to fill in later when it could be nede. However, I have a problem with that because of the nature of the document.

There is no harm in calling the title company. You should not feel dumb over this question. Hopefully they will say that one of the agents there should be in the blank. should ask it.

Input anyone else?

Reply by Anonymous on 12/9/05 5:24pm
Msg #81532

Re: Really Confused as to whose names goes in here?

I did call and they told me to put my name. She asked their attorney onsite and because I am the agent delivering the paperwork, it is my name. Now I am really confused. I sure don't want to do this wrong and then have problems after the signing.

Reply by CarolynCO on 12/9/05 5:26pm
Msg #81533

Re: Really Confused as to whose names goes in here?

I wouldn't put my name in the blank.

Reply by CaliNotary on 12/9/05 8:27pm
Msg #81567

Re: Really Confused as to whose names goes in here?

I wouldn't put my name in there either. I'd call the TC back and tell them that your name going in the blank isn't an option so they need a plan B.

Reply by CarolynCO on 12/10/05 3:28pm
Msg #81725

Re: Really Confused as to whose names goes in here?

I don't believe that some SAs understand that these are legal and binding /contracts documents. Why would anyone put their own name (other than for an acknowledgment or jurat) on Borrowers docs that neither know the other from Joe Blow?

I can't even think of what the particular doc is now, because I've only seen it one time and I refused to sign it. I spent close to 30 minutes in a phone conversation with TC going back and forth (before the signing) that I wasn't signing it. In essence, by signing it, the document was stating that * I * was responsible for dispensing the money to Borrowers after the closing. I was told that SAs sign it all the time, and I told them not *THIS* SA.

Finally, when they saw that I wasn't going to budge on my position, they told me to leave the doc blank and just ignore it. They would sign it when they received it back from me.

Reply by TitleGalCA on 12/9/05 10:58pm
Msg #81593

My understanding was this was always Escrow, although I suspect, by leaving blank, it allows lender to put themselves as POA and gives them a lot of latitude.