Posted by CaSigner on 3/18/05 8:39pm
Msg #26363

Request for Notice of Default

Question: Does the borrower sign this sheet? It just says "signature" half way down the page yet it was in the section to be signed by borrowers.

Reply by John_NorCal on 3/18/05 9:32pm
Msg #26374

That is not usual. Purpose of a notice of default is for the holder of a second note to be notified in case the borrower defaults on their first loan. The holder of the second will be notified so that they can make the 1st payment whole, then foreclose on the second. I haven't heard of the borrowers signing that.

Reply by CaSigner on 3/18/05 10:27pm
Msg #26382

That's my problem. I didn't think the borrower(s) signed this so I just put it aside. It has room for notarization on the bottom but... It was also put in the "to be notarized and signed" section of the packet. I have to return the package tomorrow morning and I can't get a hold of the Loan processor or anyone else.

Reply by Northern CA signer on 3/18/05 11:19pm
Msg #26389

Your question caught my attention, as I had a similar situation tonight. Of my ten page Deed of Trust, page nine was the Notice of Default, without a signature line. However, it did have notarial wording denoting my signer, today's date, and a place for my seal. Since there was no need for a signature (that I could determine) I put it aside. Do I notarize this?

Page 10 was the normal Deed of Trust signature line for the signer, and my notarization.

Reply by CaSigner on 3/18/05 11:29pm
Msg #26394

This was a single page and not part of the Deed of Trust. Also the bottom portion to be notarized has preprinted "County of Orange", which is not my county. This page was in Section 1 which states that "items in this section must be signed and notarized and returned". Now I don't know what I should do with it.

Reply by Ninna Mantooth-Lopez on 3/19/05 3:48pm
Msg #26458

Sometimes, it's just a matter of reading the document to determine whether or not the borrower signs. Take a moment and read the document... you will see that the document is requesting a notice of default... but the request is not being made by the borrower.... it is being made by the junior lien holder, thus a representative of the junior lien holder will sign.

Reply by CaSigner on 3/19/05 5:14pm
Msg #26470

What happens if I had the borrowers sign and I notarized it and returned with the package. It was a late night friday signing with no loan officer in the office until Monday. I had to wing it. Can they throw the page away and print another blank copy if needed?

Reply by Luci_CA on 3/19/05 7:13pm
Msg #26477

FYI, *anyone* can sign a *request* for notice of default and often it is set up so that the borrower signs it. If the package is for a second deed of trust/equityline, it is not uncommon that a request for notice would be enclosed.

Reply by Ninna Mantooth-Lopez on 3/19/05 8:02pm
Msg #26482

Yes... you're right... anyone can sign one... BUT when you're dealing with helocs, it is the heloc lender that is requesting the notice of default... not the borrower. Why would the lender include in a heloc package a request for notice of default where the borrower is requesting the notice?? Besides... why would the borrower need to be notified... they'll know whether they're in default on the first or not. Now, there may be some requests for notice of default where the borrower signs indicating they are giving authorization for the heloc lender to receive notice... other than that... they don't sign.

Reply by Ninna Mantooth-Lopez on 3/19/05 8:03pm
Msg #26483

Don't worry... the lender will toss yours and reprint a new blank one for completion.

Reply by CaSigner on 3/19/05 8:59pm
Msg #26487

Thanks for the overwhelming response to my question. I had the borrower sign it, I notarized it and returned it. I figured I would rather have them toss it if they don't need it then have them call me Monday and ask me to "do it correctly". Thanks all