Posted by Sasha-CA on 5/12/05 3:01pm
Msg #37363

Why do they include so many RTC forms

in the loan file?? There are usually 2 copies, then the borrower also has 2 in their copies. Do you have the borrowers sign both copies to send back to the lender?

Reply by Kiso on 5/12/05 3:24pm
Msg #37367

The lender doesnt need so many, but if they provide 2 in the docs and 2 in the borrowers copies, then just have the borrowers sign and initial the ones in the first set and send those back to the lender, whatever is left in the borrowers copies make sure they know where to sign if they decide to CANCEL and leave those with them to keep.....some lenders provide like 8 in each set, I'd just have them sign/initial all of them in the appropriate spots and send them back to the lender and leave the other 8 copies with the borrower.

Reply by Anon on 5/12/05 5:51pm
Msg #37385

Any instructions that I have ever had says to have the borrower sign and initial 3 RTC forms. They keep 2 and I send one back with the package.

Reply by Dave_CA on 5/12/05 6:10pm
Msg #37389

I believe that each person with an interest in the property is to receive 2 copies of the RTC and then you return the number of signed copies per your instructions.

Reply by Barry on 5/12/05 7:01pm
Msg #37399

Always have the borrowers' sign all the originals regardless of the number. It is better to have too much than too little. Each borrower is supposed to receive to copies-two borrowers=four copies.

Reply by Nancy in Florida on 5/12/05 9:58pm
Msg #37433

That is correct, every owner of the property must get two copies each for their records as long as it is their primary residence. The lenders need to get back two signed by each owner as proof two were given to each owner.

Whenever I get extras I just have them sign all of them and make sure they get their required two each. Sometimes lender will put all owners on one RTC but that is really incorrect as the all must get their own two copies. I usually print more and give out what is really needed but if all the names are on one I will have them sign it that way as long as they get the correct number of copies.