Posted by Kim_Cali on 7/26/05 12:47pm
Msg #54771

Reverse Mtg Nightmare

Ok, so I had a signing last night for a reverse....we start signing and borrower notices that the figures are incorrect from what they were quoted, the wrong age was used in one of the quotes to determine the amortization, their assets are listed incorrectly, the association is incorrect on the condo rider for the deed, the number of years in the residence is wrong....on and on. Almost every page had an error, including the payoffs which were all mismatched - wrong amounts with wrong lender.

The borrowers are getting more furious with each paper and there are at least 5 calls from the signing table....they are told to keep signing and all can be fixed. UNTIL we get to the rider....the borrowers wife is in real estate and knows for a fact that the deed will not record because the information is wrong ~ she knows this because she has sold properties in their association previously.

I inform the office that the borrowed has haulted signing, they also called on their call phone to advise the L.O. they will not sign until docs are redrawn. By this time everyone is the office is gone and I am instructed by the L.O. to return the docs FedEx. Mind you , this is after I was givien incorrect cell ohone number for the manager of the office who had gone home during this whole thing.

I get a message on my cell this morning to return to borrowers and continue to sign using yesterdays date. Correct me if Im wrong....BUT I refuse to backdate #1, the docs have been returned to the mtg company, journal entries have been voided. I have no confirmation for the second signing, which of course would mean that I would have to reprint the edocs again. Whats wrong with this picture and someone please tell me if Im out of line.

Help me out here....Im not returning without a confirmation for a new signing with correctly dated docs, as the reverse must be signed the day they are dated.

Reply by Teasa/NY on 7/26/05 1:10pm
Msg #54782

Not from CA but

It sounds like once the manager that could not be reached caught up with the situation he decided that you should go back. But that is not your problem. You followed the LO's instructions. I would simply say you followed LO's instructions, old docs are gone and you won't redo without new docs and confirm (make sure fee for old one is in the fee also). You sound upset and I don't blame you but it is not your problem and you did what you were told. You know, we put so much on our shoulders that shouldn't be there. The ball is in there court were it should be. Don't let them bully you.

Reply by Teasa/Ny on 7/26/05 1:12pm
Msg #54783

"Ball is in THEIR" not there.

Reply by Kim_Cali on 7/26/05 1:15pm
Msg #54784

Request to backdate

Thats what really bothers me....they want me to return and just continue signing using yesterday's date....ILLEGAL! What kills me is the person at the mtg office is a notary and has done signings....this is the same person asking me to backdate. Its just unreal!! Please dont mistake me for being that naive to just run right back out there another 40 miles 1 way and handle your mess Some people!

Reply by Also.... on 7/26/05 1:32pm
Msg #54791

Re: Request to backdate

How do they know the borrowers will continue to sign a shit can mess.

Reply by Kim_Cali on 7/26/05 1:38pm
Msg #54794

Re: Request to backdate

LMAO!!!! No kidding huh!! Just spoke with the L.O. who instructed me return the docs FedEx to him last night around 6PM. he tells me that since they were past the pickup time for Fed Ex he was hoping that I still had them and would continue to sign using yesterdays date. Now he says that the rates will change and this creates a bigger problem because I will not backdate.

After explaining the liability issue for performing an illegal signing he said he would have to talk to the manager and call me back. Hows that for bullying....Im not having it. For those of you who are new....NEVER BACKDATE NO MATTER WHAT THE CIRCUMSTANCES ARE ~ its your rear end if you do.

Reply by sheila in san jsoe ca on 7/26/05 3:07pm
Msg #54820

Re: Request to backdate, what would you do?

I am expecting a notary to come pick up a package from me today, for a company that wanted the loan back dated (to save the rate) as one of the B. was out of town when they first arranged for me to do signing ...I will be sure to get thei notaries info, but then what do I report him/her to the SOS? or wait til it records to see that it was backdated...has anyone ever taken steps to get a notary de-commissioned?

Reply by Kim_Cali on 7/26/05 6:49pm
Msg #54904

Re: Request to backdate

Here is the update....I called the Title Company and spoke with the lade I was to return the completed docs to had the signing been completed ~ she was appauled that I was asked to backdate, completely understood and told me to fax over my invoice.

No there's the difference between slime and someone with integrity. She asked that I completely document what transpired with the mtg company, so guess thats the end of their business relationship. Compromising just isnt worth it ever......do the right thing and in the end it all works out