Posted by CarolynCO on 6/9/05 11:58am
Msg #43489

POA Question

I've executed several POAs for my attorneys, however, today I'm doing my first POA signing. I don't have a question as to John Doe attorney in fact for Susan Doe where sigs are involved. However, after yesterday I'm afraid to even mention initials, but what is the correct way that a POA initials required docs? Thanks. I'm leaving in an hour.

Reply by SarahBeth_CA on 6/9/05 12:09pm
Msg #43495

I would think it would be J.D. AIF S.D.

Although I would like some opinions on this.

Reply by Dave_CA on 6/9/05 12:11pm
Msg #43496

SD by JD, AIF

Reply by CarolynCO on 6/9/05 12:15pm
Msg #43498

Thanks Dave. So it's not just initials and I would be AIF.

Reply by CarolynCO on 6/9/05 12:14pm
Msg #43497

Re: Never mind, I think

What I meant to say was, would it just be SD by JD *without* writing attorney in fact?

Reply by CarolynCO on 6/9/05 12:16pm
Msg #43499

Re: I replied above before Dave's answer

Reply by Dave_CA on 6/9/05 12:17pm
Msg #43500

I think you need the ",AIF"... N/M

Reply by SarahBeth_CA on 6/9/05 12:19pm
Msg #43501

Re: I think you need the ",AIF"... N/M

Thanks Dave, I haven't had to deal with this particular situation. After I posted and read your post I went back to my SA manual and it didn't cover how to have them initial.

Reply by ERNA_CA on 6/9/05 12:32pm
Msg #43506

Re: I think you need the ",AIF"... N/M Sarah

I handle all my sons business as he is over seas, with power of attorney. It is a pain to sign and int. Hope he doesn't refinance his house before he comes back home. And if he dose it better not be a Ameriquiest lol.

Reply by ERNA_CA on 6/9/05 12:20pm
Msg #43502

Re: I think you need the ",AIF"... N/M

If signing as attorney in fact need to int same way.
Opps I mentioned int. hope that doesn't create a monster .

Reply by Sam I am on 6/9/05 1:29pm
Msg #43531

Re: Another POA Question

When doing a loan signing as an NSA, are you warned 1st by whoever hired you that the signing will involve a POA?

I was at a signing on Saturday and the hubby was running late. The wife said she had a POA in the safe and asked if we could use that for her to sign on his behalf. I opted to just start without him on the non-legals; and luckily he showed up before we got to the securities and was able to catch up on the forms without wasting too much extra time.

Do you think it would have caused a problem if we had used the POA? Do you need to include a copy of the POA with the loan docs?

Reply by ERNA_CA on 6/9/05 3:33pm
Msg #43580

Re: Another POA Question

Yes the POA would have to accompany the loan papers and be submitted when DOT is recored.
That is the original POT when it involves a DOT. But many times the lender and title will only except a POA they supply, so you were lucky you waited for hubby.
Information provided from personal experience, not from a handbook, take it as such.

Reply by SarahBeth_CA on 6/9/05 6:07pm
Msg #43626

Re: Another POA Question

The POA would have to accompany the loan papers? Would a certified copy of a POA suffice? I haven't dealt with POA's other than my training but it seems to me that the AIF must have the POA in thier records in case it is needed for something else. Am I correct?

Reply by ERNA_CA on 6/9/05 7:33pm
Msg #43642

Re: Another POA Question....Sarah

I will ask my daughter. I used the original , it can not be just a copy but I don't know if it can be a certified copy. I will let you know.

Reply by PAW_Fl on 6/9/05 8:45pm
Msg #43668

Re: Another POA Question

Typically, lenders want the **original** POA prior to closing. So the borrowers would need to send in the original POA to the lender, then the lender can decide to approve or disapprove the loan based on their practices and the contents of the POA.

Very rarely have I seen lenders accept a POA at closing unless they had a copy before hand and just need the original as a stipulation for funding.

Reply by CarolynCO on 6/9/05 9:53pm
Msg #43687

Re: Another POA Question

That's exactly what happened in my case. Wife is visiting parents out-of-state. She signed POA on Tuesday. When I accepted today's signing on Tuesday or Wednesday, SS told me she was signing that day -- I assumed she was signing docs and they would be notarized, then husband would sign today and I would notarize for him. When I received docs, the cover letter stated it was a POA. I called TC and they told me they had original POA in their file because they had to have it in advance of document preparation.

Reply by SamIam_CA on 6/9/05 10:04pm
Msg #43693

Re: Another POA Question - thanx Paw! n/m

Reply by PAW_Fl on 6/9/05 3:26pm
Msg #43579

The **correct** way is whichever way the lender/title want it. I have been directed to use (where the principal is ABC and the attorney-in-fact is XYZ):

ABC by XYZ, AIF
XYZ for ABC, AIF
ABC by XYZ

Most common one is the top one: ABC by XYZ, AIF

Reply by BrendaTX on 6/9/05 8:49pm
Msg #43669

Re: POA Question - another keeper, folks n/m

Reply by CarolynCO on 6/9/05 9:55pm
Msg #43688

Re: Thanks Paw. That's what I did. n/m