Posted by Mary Pierce/PA on 5/6/05 11:49am
Msg #36249

RTC

I am doing a signing tonight in PA. The title to the property is husband and wife however, the husband is the only one on the note. I know the wife has to sign the mortgage, TIL, etc. but does she also need to sign the RTC? I don't have one for her in the package.

Reply by Art_MD on 5/6/05 12:05pm
Msg #36252

Yes N/M

Reply by Mary Pierce/PA on 5/6/05 12:09pm
Msg #36255

Re: Yes N/M

I called the SS and she basically told me to sign as they are printed. So wife's name not on TIL and no RTC for her. I called the title co. and they instructed me to have the wife print her name on TIL, mortgage riders and RTC and then have her sign. Do these SS's really know what is going on?

Reply by Art_MD on 5/6/05 12:21pm
Msg #36256

Re: SS know what they are doing?

There are a few out there who do. Usually they are run by people who were SAs and a strong sense of duty.
A lot of the people you talk to are probably just schedulers (especially in off hours when the people who might know something have all gone home)

Title people usually (not always, but usually) are quite knowledgeable. They pay the bills, theirs is the final word as far as the docs go.

Art

Reply by Sylvia_FL on 5/6/05 12:28pm
Msg #36257

Re: SS know what they are doing?

Art is correct.

I sometimes wonder if some SS give the response just to sign as printed etc, because if it isn't correct they get to send the SA out again with another fee to the title company!

Reply by SarahBeth_CA on 5/6/05 12:31pm
Msg #36258

Re: SS know what they are doing?

yes there are a few who do know what they are doing like SylviaFl. And then there are those who don't. Last week I had to explain to a scheduler that I could not notarize my own statement, or any document that I prepared (they wanted me to fill out the info on the doc) because it is illegal in the state of CA. After going over this with her a couple of times I still don't think she understood why I couldn't do it, had to decline the job...

Reply by CA ESCROW on 5/6/05 4:50pm
Msg #36304

Re: SS know what they are doing?

I work in the Escrow/Title field for 4 years before becoming a SA.
Actually the SS says to sign as is, only because the Title Company tells them to do so.
Or they will get screamed at!!
The Title Company is not to advise the SA to have the wife print anything on the doc's or to
sign where her name is not printed.
The Lender will not accept the documents and it will cause it to be redrawn with the husband/wife's name on all the documents. Or the RTC and D/T or other documents will have to be redrawn(reprinted) by the Lender and sent again to the wife to sign corrected documents.
It will come back to the Borrowers having to sign again because the Lender did not print the documents correctly. So, everyone will get blamed. (Smile) Unfortunately!!

Reply by Joan-OH on 5/6/05 5:13pm
Msg #36314

Re: SS know what they are doing?

Things must be really different in CA because in Ohio, being a dower state, I am constantly instructed to add the wife to the Mort, RTC, TIL and in 1200 signings have NEVER had a redraw because of this. Maybe is just has to do with the lender you worked with.

Joan

Reply by CA ESCROW on 5/6/05 5:35pm
Msg #36322

Re: SS know what they are doing?

Many diffrent lenders and I work in Escrow.

Reply by Art_MD on 5/6/05 7:59pm
Msg #36343

Re: adding signature lines

Ca Escrow,

If the RTC, TIL and DOT don't have the spouse's name (or some combination of 1 or 2 of these docs), and the DOT is in both names there are a couple of things that can happen...

1. Have names signed only where typed.
2. Add the name of the spouse where necessary. Have her/him sign. To cover your trailing anotomy, call the tile company and state what you observed regarding the names missing. They can direct you to add the name. This keep you from UPL.

In case 1 the loan will not close.
In cas 2 the loan probably will close. You said/implied that it might not close. I'll give that in some rare case it might not.

The chances case 2 will close is many time the chance that case 1 will close ( 90+ to 0)

Also, I think the TC would realize they are working with a pro and and there may be a chance they will use you more in the future .

Art

Reply by Art_MD on 5/6/05 8:01pm
Msg #36344

Re: adding signature lines a PS


If the SS your doing the signing for has a partial payment fee, you also could be screwing yourself financially by not having the 2nd person on the DOT sign (AFTER your call to the TC..

Art