Posted by Anonymous on 11/16/05 1:32pm
Msg #76967

Correction made by borrower

Help! If borrower dates a document incorrectly (wrong date)...then lines through it and writes out new date (with initials next to correction), does the co-borrower need to initial borrower's change as well?

Reply by SDgirl_CA on 11/16/05 1:33pm
Msg #76968

NO, one set of initials is OK

Reply by Anonymous on 11/16/05 1:37pm
Msg #76972

That's what I thought too! However, Countrywide is telling me that co-borrower must initial too. Never heard of that! Thank you for your help!

Reply by Art_MD on 11/16/05 1:41pm
Msg #76973

Remember the golden rule....He who has the gold, makes the rules.
If they request it, OK, BUT, that is their discretion and the fact you didn't have both initial it, is not an error on your part.

Art

Reply by Anonymous on 11/16/05 1:43pm
Msg #76975

Thank you!

Reply by Joan_OH on 11/16/05 1:56pm
Msg #76980

If both names are on the doc, then I always have them both initial. If it is a Sig. AFF or a W9, with just one borrowers name, then I just have that borrower initial.

I do believe Countrywide gives instructions on how they want corrections made and if I remember correctly, they want both borrowers to initial.

Joan-OH

Reply by Art_MD on 11/16/05 1:36pm
Msg #76971

In my opinion no..

Logic:

If the information changed is relative to both the signers, i.e. date on RTC which they bath are signing, then both must initial.
If information changed is relative to only one signer, only he initials.
Think about if the person forgets to put in a middle initial. If he crosses it out and resigns with the MI, why would the co-borrower initial??

BUT, this is logical. Migh have nothing to do with reality.

Art

Reply by Jenny_CA on 11/16/05 1:46pm
Msg #76976

Besides those are instructions to you, that is what they request. As long as they are not telling you how to fill out your certificate like CaliNotary mentioned in another thread .

Many times the companies resell the loans and this "detail" is part of helping to make sure everything is satisfied ( nothing overlooked)for the new buyer.

Reply by PAW_Fl on 11/16/05 2:24pm
Msg #77003

The logic depends on who signs the document. From my lender daze, if there are TWO signers, then ANY and ALL changes made to that document must be acknowledged by ALL signers, regardless of what is being changed. (Not counting the notary certificate, only the document itself.)

This prevents one signer from altering the document without the knowledge of the other signer.

If it is an affidavit in which both borrower and co-borrower sign the document and one borrower errors in entering the date, then both signers need to acknowledge the correction. This is covered in Signing Documents 201, taught in the second semester at the School of Hard Knox.