Posted by peterole_MN on 2/19/05 8:52pm
Msg #21474

docs sent directly to borrower

Had a signing last. The docs were directly to the borrower. What a mess. The borrower and spouse had opened both sets of docs and got the them mixed up. I hate, I mean dislike it when the borrowere gets the docs. It was like going into the woods on the darkest night. Needless to say, it took a long time to get the job. The borrowers were very nice people and were very patient. Has anyone else had similar experiences?

Reply by Loretta Reed on 2/20/05 8:02am
Msg #21493

Re: docs sent directly to borrower...me too

I have had this happen to me. I don't like it. The borrowers get the docs, read them, play rummy with the originals and spill coffee on them. I try to discourage it whenever possible when the title company tell me they are sending them to the borrower. I tell them that the borrowers mix the copies up and sometimes even sign them before I get there.

Reply by sue on 2/20/05 9:49am
Msg #21508

I like when docs go to the borrower. I call them a day ahead of time, tell them to open the package when it arrives. I tell them there should be 2 distinct sets of papers. I tell them if one is marked 'copy' to look at that one and to put the other in the packet. I tell them if there is only one stack to start at the top and to go through page by page until they come to a division page marked borrower's copy.

I can think of 2 instances where I've had trouble - one elderly man had laid each individual piece of paper out in the dining room - table, buffet, every chair, was covered. We started at one spot and went around the room signing and initialing, me picking up each page as we went. The other time I was walking out the door and the woman (a teacher) said something about the 'unneeded documents'. I asked what she was talking about. She had removed some that didn't apply - one being about flood insurance and I dont remember what else. I made her get me the paperwork. I actually went back to her a second time because the exhusband had to sign.

I think most borrowers - do note that I said 'most' - can keep their copies separate. If not, I don't see what the big deal would be anyway - you should be able to whip through the pile and make 2 stacks of documents with only a very few needing any thought.

Reply by Gerry_VT on 2/20/05 12:33pm
Msg #21523

My own very limited experience, and what I have picked up from this board, suggest that most people who meet with a notary outside of an attorney's office are not represented by an attorney. These people are on their own as far as making sure the documents are correct and the terms are acceptable. That takes time. It seems inconsistent to me for a notary to maintain that he/she does not practice law and at the same time complain that the signer has ample time to look through the documents.

Of course their could be a mess. On the other hand the signer could go through all the back-and-forth corrections with a lender and have a perfect set of documents all ready to go, instead of a notary having to sit around while the notary has a phone conversation with a lender.

Reply by ERNA_CA on 2/20/05 12:51pm
Msg #21524

That is why the 3 day rescission is so important. A notary is not a loan officer but impartial withness to the signing. Borrowers have the option to take their copies to an attorney and 3 days to comunicate andy quiestions and concerns to the lender.