Posted by Misty_CA on 3/18/05 10:20am
Msg #26250
Please Help !! Subordination agreement
I did a search on this, and had all but one of my questions answered.. I read in a previous thread that I should not notarize this,... however, they have a sticky saying "notarize", with no notorial wording. also there is another signature on the form signed as "designated signer" it says "All signatures must be acklowledged"... I dont know who this other person is... Can some one help me out on this one?? I can attach an all purpose acknowledment for the one who signed in front of me, but thats about it... Please help !! TIA 
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Reply by Alabama on 3/18/05 10:25am
Msg #26252
I haven't read a subordination agreement in a while but it is not something the borrower has to sign. It is an agreement with the lenders to subordinate the current mortgage.
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Reply by Misty_CA on 3/18/05 10:26am
Msg #26253
This one has a spot with the borrowers name on it to sign,and they want me to notarize
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Reply by Alabama on 3/18/05 10:32am
Msg #26255
I would call the title company or the lender and ask them what they want you to do, so it is done correctly and you'll be done with it.
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Reply by LawrenceOK on 3/18/05 10:34am
Msg #26257
Good Advise!! Call the Lender.
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Reply by Misty_CA on 3/18/05 10:37am
Msg #26258
Yes that was my next action, I just like to sound knowledable before I call them, thank you for your advise
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Reply by american notary on 3/18/05 2:53pm
Msg #26317
Never feel like you can not call the lender, you will be very dumb if you don't
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Reply by Jon on 3/18/05 10:39am
Msg #26259
Misty,
Some subordination agreements need the borrowers signature, some don't. If the document says that all signatures need to be acknowledged, attach an ack for the borrower(s) who appear before you. The other person that needs to sign is not your concern.
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Reply by Misty_CA on 3/18/05 10:42am
Msg #26262
Yes that is what I have done so far, I was just confused by the other person that has already signed it, I have no idea who this person is... and wanted to make sure I needed to notarize it, yes they asked me to, but with no notorial wording, I was just confused, I am pretty new ( as most can now see) and dont want to screw this up . Thanks
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Reply by Jon on 3/18/05 11:09am
Msg #26271
The told you they needed an ack when it said "all signatures need to be acknowledged". Since Ca has specific wording for an ack, that shouldn't be a problem. The person who already signed it is probably the officer for the company whose loan is being subordinated, although I have never seen one that was signed without the ack. Put a note on your ack that there was another signature on the doc, listing the name if you can make it out.
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Reply by Misty_CA on 3/18/05 11:22am
Msg #26275
DUH to me !! I need another cup of Java... "all sig need to be ack" Should have clued me in, huh... good thing it is Friday
Yes I can make the name out.. and good idea, on the all purpose it asks for signers other than above mentioned.
Again thank you all for your help !!
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Reply by Jayme in PA on 3/18/05 12:02pm
Msg #26287
Here in PA, while working in the real estate department of a law firm, I have prepared subordination agreements for the appropriate lender who needed to surbodinate a lien due to a new loan. I would prepare it and send it to the lender and they would sign and notarize. The lender would send it back to us to record. We would record along with the mortgage, etc. I would efinitely check with the title company to make sure nothing was missed in the chain of events (i.e. lender's missing notarization) prior to you receiving the package.
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Reply by Misty_CA on 3/18/05 12:08pm
Msg #26289
Yes it was through a signing company so I faxed it to them and asked them to look into to make sure all is good.... Thanks
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