Posted by Lisa/WI on 2/8/05 12:17pm
Msg #19766
BIC Question
I see there is a lot of debate on the borrowers ID form. I had a closing last Saturday, filled in all the info as requested and signed and dated at bottom. Did not impress seal. Signers did not touch this form. On some of the training material I had received it had said this form is always notarized. If anybody can lead me in the right direction for my state I would appreciate it.
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Reply by Art_MD on 2/8/05 12:21pm
Msg #19767
Don't know about WI. In MD we noterize signatures after an oath or affirmation. That all. If there is no notorial working and no signature ---> no notary stamp.
There should be something in your notary handbook.
Art
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Reply by Lisa/WI on 2/8/05 12:29pm
Msg #19769
The closest I got was: "For witnessing or attesting a signature" Which reads on the certificate"Signed or attested before me on (date) by (names)". Even though, wouldnt this still require them to sign the BIC?
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Reply by sue on 2/8/05 12:36pm
Msg #19772
your training material is wrong. they shouldn't make blanket statements such as 'this form is always notarized'. Sometimes they are notarized and if so they will/should have the proper language for you. Many of them just have borrowers signature, many just have your signature, many have both. Lender preference.
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Reply by Lisa/WI on 2/8/05 12:53pm
Msg #19775
According to the person who got me into this, on any and all of the loan packages, if they dont provide the wording for you, it doesnt get notarized. Its their fault if they didnt provide it, which I have taken with a grain of salt.
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Reply by fiKS on 2/8/05 12:52pm
Msg #19774
I am wondering if you have two different forms mixed up. The one that is usually notarized is the Signature Affidavit. There is another form where you indicate and verify information from the signer's ID. This form, the notary signs it as the person who verifies the identity of the signer.
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Reply by Art_MD on 2/8/05 12:57pm
Msg #19777
Some SS and Title companies have an ID form on which there is a space for signature(s) and also the proper wording for an Affirmation. This form I do notarize.
Art
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Reply by Lisa/WI on 2/8/05 1:00pm
Msg #19778
Re: BIC Question to fiKS
That one was done also. I notarized this one. The other form was the "Borrowers Identification Certificate" The directions to me had said this form must be acknowledged by the notary. Which is what I did by signing and dating. Correct?
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Reply by Art_MD on 2/8/05 1:01pm
Msg #19779
Re: BIC Question to fiKS - Correct !! n/m
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Reply by Lisa/WI on 2/8/05 1:04pm
Msg #19781
Re: BIC Question to fiKS - Correct !! n/m
OK. Time for a stupid question. I have been able to figuere out just about all abbreviations that you guys kick out. But what does the n/m mean. Does it mean NO MORE!!! (HA HA) Or what?
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Reply by DellaCa n/m = no message on 2/8/05 1:05pm
Msg #19782
Re: BIC Question to fiKS - Correct !! n/m
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Reply by Lisa/WI on 2/8/05 1:09pm
Msg #19783
Re: BIC Question to fiKS - Correct !! n/m
I figuered it out after I asked. Have a great rest of the day everyone!
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Reply by CarolynCO on 2/8/05 8:04pm
Msg #19840
**I see there is a lot of debate on the borrowers ID form. I had a closing last Saturday, filled in all the info as requested and signed and dated at bottom. Did not impress seal. Signers did not touch this form. On some of the training material I had received it had said this form is always notarized. **
You can't notarize your own signature, and in this scenario, that is exactly what you'd be doing.
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Reply by Terri - CA on 2/9/05 2:32am
Msg #19893
Ditto what CarolynCO said. If you signed the form, you cannot notarize it. If the borrower's sign the form, yes you can notarize it, but only if the proper notarial certificate verbiage is there for you.
In California, it is UPL (Unauthorized Practice of Law) for the Notary to determine whether a document is to be notarized and which notarization would be needed, i.e., Acknowledgment or Jurat. It's up to the signer or the document preparer to determine those two things.
Terri
Lancaster, CA
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