Posted by SDgirl on 5/7/05 5:11pm
Msg #36450

confused

I have been doing signings now for almost 2 years and I have never requested that a borrower provide me with a copy of their I.D. to return to the lender unless otherwise specified.

Recently I was too ill to complete a signing that I had already committed to so the title company asked me to find another notary to complete the signing. I did so and then had to review the docs myseld for accuracy. I though it was very interesting to see that the notary had provided copies of both borrowers id's with their signature on the copy. I thought that is was not necessary since there is a signature affidavit and a statement of information page.

Not only that, but the notary had the borrower initial the RTC dates on all copies. Is this correct?? I thought you were NOT supposed to initial the RTC. I have never been told otherwise. Can someone clarify? Now I am starting to doubt myself :<

Reply by Lalas_socal on 5/7/05 5:50pm
Msg #36454

Dont doubt yourself, only the borrowers initial RTC in case of a change of date, my lender sends notes with docs for notaries to NOT make changes to dates or documents, NOT to initial RTC and NOT to have borrowers initial every page(unless its requested), they must get it alot cuz they sure get hissy about it, cant blame them though, its got to be just as irritating to them when we dont do our job right as it is to us when they dont do their job (refering to previous post about borrower not knowing there was money due) HELLLLOOOOO !!!!
That is why I rarely work through signing companies, ever play that game telephone? the more people the message goes thru the worse it gets messed up (as with payment).
as far as copies of the ID's, only if requested from the lender(or escrow or title), and that happens sometimes. Hope this helps.

Reply by Roger/OH on 5/7/05 6:06pm
Msg #36457

All depends on your instructions. Many lenders DO require copies of IDs (sometimes 2 pieces for each borrower). Some lenders (DiTech, for example) also insist on having borrowers initial the RTC dates.

There's no one size fits all in this business, whether it's ID copies, letter/legal size paper, ink color, type of return envelope, etc, etc. Every company has its own requirements, so just pay close attention to the instructions in every package, especially if it's for a lender you haven't done before.

Reply by YvonneCa on 5/7/05 10:16pm
Msg #36481

Re: confused

Reply by Yvonne78 on 5/7/05 10:25pm
Msg #36482

I have closed over 1,000 easily and was trained to always have borrowers inital the rtc dates this proves that they are acknowledging the dates and leaves nothing to question. I have never had a lender or escrow send back the docs for that reason and do most of my closings thru escrow and title so I would know if they were sent back, always remember there is no such thing as over signing only under signing. I have also noticed that since the patriotic act was passed all lenders it least for the closings I have done requested a copy of the borrowers drivers license, when I call to confirm my appointments I always ask them to make sure they have there copies ready for the closing.

Reply by Nicole_NCali on 5/8/05 11:10am
Msg #36521

You are so correct about the Patriot Act

I have been closing one lenders loans for about 6 mos and another for about 2 mos. One of the loans that had to be redrawn due to figures was kicked back due to the forms needed with the Patriot Act form. I found this really interesting since this has never come up before. I now have special instructions from both of the lenders to attain copies of id/ssn card if none was provided with the original loan packet. I have also made it a practice to question the lender closely if a copy is needed. It does not necessarily appear w/in the packet sometimes.

Reply by kim on 5/9/05 5:45pm
Msg #36728

Interesting Yvonne, The title company I work with asks me to not only have the buyers initial the dates but also to underline midnight as well. Title companies are so much easier to work with, IMHO!