Posted by Anne_SoCA on 6/8/05 7:29pm
Msg #43362

CIP Question

Ok, I'll admit, I'm new....

I'm going on my second signing this month (this one's for a friend, thankfully). I've looked through the docs and everything looks good to me.

My question is, on the CIP form (Customer Identification form), there is space at the bottom for the signature of the "Closing/Settlement Agent". That's me, right?

Please be kind....

Reply by LisaWI on 6/8/05 7:33pm
Msg #43364

I think(and I could be wrong), the response your going to get is to cross that out and put "signing agent" there to make it legit. Because you are neither of those. How am I doing guys?? And gals!!

Reply by Kimberly Downs on 6/8/05 8:09pm
Msg #43371

Ok I have been doing this for a while and I am still getting conflicting reports on this. Some companies tell you to sign it as the settlement agent. I don't like to do this but I am a nj licensed title agent. So if you are licensed and you are doing a closing for a title company you are the settlement agent. If you are working for a third party (notary co., etc.) then I would question signing as the agent. Hope this helps...

Reply by Joanie on 6/8/05 8:43pm
Msg #43381

You did good.

Reply by ms on 6/9/05 12:30am
Msg #43424

HUD-1/Settlement Statement

I just did a closing for an Escrow & Settlement Co. and on the HUD there is always the place for the borrower(s) to sign....there was also a spot for the "Settlement Agent" to SIGN agreeing to the terms and fees outlined on the HUD, along with the PRINTED name of the Escrow & Settlement Co.

I did not sign it, since I was hired as an independent. Did I do the right thing or will I hear about this ??

T.I.A.

Reply by PAW_Fl on 6/9/05 7:06am
Msg #43438

Re: HUD-1/Settlement Statement

You are **NOT** the Settlement Agent. You DO NOT sign the HUD. The borrowers typically sign the HUD and then the Settlement Agent will sign it once the disbursements are completed.

Reply by Anne_SoCA on 6/9/05 9:20am
Msg #43451

Thanks for your responses!