Posted by CaSigner on 3/23/05 11:22pm
Msg #27377

RTC no date

I am doing a HELOC tomorrow and I noticed late tonght that there is no date on the RTC. I will call to verify tomorrow but what happens if this was a late night signing on a Friday night. What date should I use? Three days from... Ilooked for information on this but couldn't find much. Thanks

Reply by Ninna Mantooth-Lopez on 3/24/05 12:06am
Msg #27381

I'm confused... is your signing tomorrow (Thursday)... or Friday? In either case, the first date would be the date of the signing. If the signing is Thursday 3/24... then the end date would be 3/28... if Friday (3/25)... then end date would be 3/29.

Reply by Ted_MI on 3/24/05 6:54am
Msg #27397

Re: Ninna - don't agree totally

Ninna,

I agree with you as to the end dates for both 3/24 and 3/25. However, as I understand it the first date is not the date of the signing; that is not counted. It is the first day after the signing (unless that happens to be a Sunday or a federal holiday).

Reply by PAW_Fl on 3/24/05 8:03am
Msg #27404

Re: Ninna - don't agree totally

Ted,

I'm pretty sure Ninna meant the first date to be the date that is entered as item (1) at the top of the RTC where it says "the date of the transaction" or "the opening date of your account". This is typically the date of signing.

The RTC begins on the day following the latest of the three events listed.

Reply by Ninna Mantooth-Lopez on 3/24/05 9:18am
Msg #27417

precisely, Paul... thx!... (n/m)

Reply by Ted_MI on 3/24/05 7:38pm
Msg #27525

Re: Think you are right

Paul,

I construed it taking the statement literally - she said one counts the day of the signing as the first date. Now admittedly she did come up with the right results (which I did acknowledge).

Reply by PAW_Fl on 3/24/05 10:48pm
Msg #27567

Re: Think you are right

She didn't say anything about counting. She stated "the first date would be the date of the signing. ... then end date would be 3/29" which is absolutely correct. So, taking the statement literally, to determine the end date, you start _counting the day after_ the first date.

I think we are all in agreement. It is just semantics.

Reply by Dogmonger,Ca on 3/24/05 12:19am
Msg #27382

You need a recission calender

Follow the link and print one and put in your briefcase. Look at the day signing, and it will give you the recission date.


http://members.boardhost.com/gomobilenotary/msg/archive/154457.html

Reply by CaSigner on 3/24/05 8:27am
Msg #27413

Re: You need a recission calender

My signing is for Friday evening at 6:30 p.m. I will call this morning to verify but.. If this happens again on a Friday night I want to get it right. So Saturday will be my first day (26), no Sunday, Monday (28), Tuesday (29). So midnight on Tuesday, the 29th, right?

Reply by Cheryl_NV on 3/24/05 8:32am
Msg #27414

Re: You need a recission calender

Go to the NNA site you can download their recission calendar free, this is the best thing you can do.

Reply by CaSigner on 3/24/05 8:36am
Msg #27415

Re: You need a recission calender

Got it, thanks. I was having a duh! moment. But if there is no date entered can I enter it and then have the borrower initial?

Reply by Dave_CA on 3/24/05 9:24am
Msg #27418

Re: You need a recission calender

If there are no dates it is your responsibility to enter both.
You would only need to have the dates initialed if they were changed.

Reply by CaSigner on 3/24/05 9:50am
Msg #27421

Thank you

Reply by Ernest_CT on 3/24/05 11:30am
Msg #27440

Yes, but ...

... if the docs come through with a PLACE for initials, then the entity that drew up the docs wants the borrower's initials. Some places do! One firm uses what looks like it was rubber stamped; a circle with "Init." and a line for the initials.

Yes, it is definitely your responsibility to be certain that the dates are correct. Never trust.