Posted by CarolynCO on 9/15/05 4:22pm Msg #65458
Bancserv/Fidelity/Citibank question
I've never come across this before, and I can call Fidelity but thought I'd run it through here first. On page 4 of the Funding Transmittal page of Citibanks Closing Instructions, it breaks down "all lien (L) payoff checks secured by this property will be sent by the Title Company via overnight mail directly to the creditor" and "all other required (R) payoff checks will be sent from the Title Company and made payable to the borrower and the creditor. The Borrower will be responsible for mailing the checks to the appropriate creditor."
Then there is a highlighed box:
"TO BE COMPLETED BY SIGNER/NOTARY:
________________________________________ (Printed name of person taking acknowledgment)
There is no acknowledgement wording on here. Has anyone seen this before? I'm not notarizing anything and there is no place on the page for Borrower to sign. Thanks.
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Reply by CarolynCO on 9/15/05 4:24pm Msg #65459
Re: oops -- there are TWO signature lines
"TO BE COMPLETED BY SIGNER/NOTARY"
___________________________________ (Printed name of person taking acknowledgment)
Thanks.
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Reply by CarolynCO on 9/15/05 5:24pm Msg #65472
Re: Got an answer
I called Fidelity and was told that *I* was the one CitiBank required to sign the document. I said "no, that I was not responsible for the loan, or for paying off the amounts shown." She told me that when other notaries question the form, they are told just to sign it and they do. I said I wasn't signing it and I wasn't personally acknowledging anything on the form. She told me if I could wait, she would call CitiBank. After about five minutes she came back with authorization that I didn't have to sign the document.
If you come across this particular CitiBank form, be cautious and question why you, as a notary, are responsible for the only signature on the page.
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Reply by BrendaTX on 9/15/05 6:20pm Msg #65492
Re: Got an answer
**She told me that when other notaries question the form, they are told just to sign it and they do. **
More social engineering for notaries...
Translation the above means:
Everyone else does it, so you must be completely stupid and weird for not doing it...no, shut up and do it so I can get back to my girlfriend's phone call..
And, they thought our CarolynCO would flinch??? LOL.
That's rich! *Now* who is stupid?
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Reply by TitleGalCA on 9/15/05 7:04pm Msg #65509
Re: Got an answer
Amazing...that no one's ever questioned this. Don't people read? and the answer from Fidelity (I'm assuming TC) are you kidding me - instructing SA's to just 'sign' it?
That's their job...paying off the loan, sending out checks....clearly a settlement agent needs to sign it.
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Reply by CarolynCO on 9/15/05 7:50pm Msg #65521
Re: Got an answer
Apparently people have questioned it because she knew exactly what I was talking about. She told me that the ones who have questioned it have been told that CitiBank just wants them to sign it -- and that's the end of their questioning, and they sign it.
But I made it perfectly clear that I wasn't signing it -- I was not acknowledging that the TC would pay *some* of the payoffs, nor was I acknowledging that the checks the TC sent to the Borrower would be used by the Borrower to pay off debts.
The Borrower doesn't even have to sign this flippin page -- just the Notary -- but not THIS Notary !!
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Reply by Giselle_CA on 9/15/05 5:52pm Msg #65482
Carolyn,
Is this for the settlement agent?
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Reply by CarolynCO on 9/15/05 6:33pm Msg #65498
Re: not for settlement agent
Nope. They told me it is for the Notary to sign at the signing. The way I see it is that the Notary is more or less guaranteeing that the payoffs will be made by the Borrower who receives the check(s).
To me, any Notary who has or will in the future sign such a document is purely S-T-U-P-I-D and better question it.
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Reply by CarolynCO on 9/15/05 6:57pm Msg #65506
Re: not for settlement agent
Also, make sure that you have a conversation such as I did, to document all names and titles of the people you spoke with.
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Reply by Giselle_CA on 9/15/05 8:33pm Msg #65541
Re: not for settlement agent
That is the reason I said it is for the Settlement Agent. I have never signed that since It is not me making sure the parties receives their checks.
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Reply by CarolynCO on 9/15/05 9:54pm Msg #65590
Re: TC told me CitiBank will probably change the document
so it doesn't specifically say NSA and instead will say Settlement Agent after I carried on with them about it.
What I don't understand is with the notaries who do question it and call and when told to sign it, they just go ahead and do so. She told me that I'm the first one who has pitched a fit and refused to sign.
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Reply by PAW_Fl on 9/15/05 10:43pm Msg #65608
Re: TC told me CitiBank will probably change the document
Trust me, you're not the first and only. This battle has been going on with Citi for a number of years. The thing that gets me, is that it says, "Printed name of person taking acknowledgment" and "Signature of person taking acknowledgment". ?? Taking what acknowledgment?? In these equity loan packages there is only one acknowledgment that needs to be taken, and that is on the mortgage/DOT. (Even though there are acknowledgment certificates on a couple of affidavits which must be changed by FL statute.)
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Reply by TitleGalCA on 9/15/05 7:06pm Msg #65510
the "settlement agent" is escrow, not NSA N/M
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