Posted by ken/ca on 7/15/05 11:41pm
Msg #52623

When using a POA for a loan signing when 1 party cant be....

present, how do we know that the signature on the POA is really the absent parties signature?

Reply by Sylvia_FL on 7/15/05 11:55pm
Msg #52626

Well, the POA would have been notarized, so as long as the notary followed notary law on ID, then it should be fine

Before a loan signing is done with a POA, the lender will have verified the POA.
And it is not our job to check the POA, we don't even have to see it - unless the lender has requested it be sent to them with the return package.

Reply by Pete/NY on 7/16/05 12:06am
Msg #52631

Sylvia is right. I've done quite a few, several which were followups to a first notary who messed up the docs.

Reply by ken/ca on 7/16/05 12:06am
Msg #52632

So what you are saying Sylvia is it would have all been...

checked out and approved by the lender prior to the signing taking place, so it is not really of concern to the Notary, excpet to get the okay to use it, right? Do lenders often allow POA.s? This is the first time I have come across this and went with it but now that I think about it, I bet this isnt usually done, right? Always, thanks for your hlep Sylvia.

Reply by Sylvia_FL on 7/16/05 12:15am
Msg #52634

Re: So what you are saying Sylvia is it would have all been...

If the lender - in this case NFRES - had approved the POA, there should have been something in your instructions indicating there was a POA. If there was nothing about the POA then you should contact NFRES to let them know you spoke to the borrower and he indicated he was signing with a POA for his wife. If it is OK, they will let you know.

I don't see too many POA signings.