Posted by Jeanie-fl on 5/9/05 9:12pm
Msg #36777
back dated docs
I received a set of docs tonight. 31 pages are dated 3/25/05, The back dated docs are W-9, 4506, credit score, sig. authorization, Fair Lending, etc. None of these docs need to be notarized. The instructions say to have the BR's sign without striking or changing the March date.
The rest of the docs are to be dated with tomorrow's date.
What's the reason for the two date's?
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Reply by BrendaTx on 5/9/05 9:34pm
Msg #36782
A guess only...some lenders perhaps require these things to match the supposed application date?
Back in the old days...some/all of these things would have been gathered up front by the Loan Originator prior to handing the file to the processor...and, the Disclosures had to go out to the borrower ahead. I am only guessing!
(Interestingly enough, in Texas (maybe all states...don't know) in certain situations you have to fill out/receive some docs twelve days or more before the loan docs are signed.)
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Reply by Victoria/FL on 5/9/05 9:41pm
Msg #36785
Agree with Brenda..
Back in the "old" days (early/mid-90's) I was a loan originator and remember that certain documents must be provided to the customer within 3 days of application (such as GFE, TIL, ARM disclosure, Anti-coercion). Many times the loan officer does not make it within the 3 days, and therefore provide at closing to have backdated. It's not right, but it does happen. If the lender gets audited without these documents dated correctly, they may get fined.
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Reply by BrendaTx on 5/9/05 9:53pm
Msg #36789
Victoria...
When dinosaurs still roamed the earth, I was a loan processor. I used an IBM Executive II and a telephone. Finally, I got a new, pretty green IBM Selectric with more than one of those little font balls.
I typed the 1003 with a typewriter!
I have also serviced the loans, paid the insurance and taxes.
I also figured escrow amounts with a very "complicated" system wherein I utilized addition and long division. ([Annual Insurance Premium+ 'Total' Annual Ad Valorem Taxes] / 12).
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Reply by Melody on 5/9/05 11:37pm
Msg #36816
I remember IBM Selectrics with the little balls
They cost $1,000 in the late 70s.
The big news was that you could change the font by replacing the little balls and changing the font size lever.
Mama Mia! That was about a million spam emails ago.
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Reply by PAW_Fl on 5/10/05 8:28am
Msg #36867
Re: I remember IBM Selectrics with the little balls
I too remember the "greatest invention" of the day. The typewriter with the "bouncing golf ball". 
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Reply by Art_MD on 5/10/05 10:00am
Msg #36882
Re: Remington manual ....N/M
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Reply by Victoria/FL on 5/10/05 9:51am
Msg #36880
Thankfully, I do not remember this. :) n/m
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Reply by Becca/FL on 5/9/05 9:44pm
Msg #36786
Many Brokers need to have certain docs (GFE, 1003, FL broker disclosures, etc.) dated for the application date. Brokers are required to have these docs in their file for compliance reasons. There is nothing wrong with this.
You only need to worry about the notarial cert. NEVER put a date other than the date that you are notarizing the signatures.
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Reply by Ka Konees CA on 5/10/05 11:49am
Msg #36909
Dont remember
little balls...
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