Posted by Sara_NV on 9/13/05 12:38pm
Msg #64956

Borrower Agreement & Certification

I learned something new today, from my own mistake. I'm passing this along as an FYI. I was just "dinged" by a SS and had my fee reduced for not having the non-borrowing spouse sign the document titled "Borrower Agreement & Certification." I skipped it because the wife was NOT a borrower, but now after reading the form, I think I understand why she should have signed it.

Just thought I'd pass this along so other don't make the same mistake. Every day's a school day!

Reply by MelissaCT on 9/13/05 12:45pm
Msg #64958

If wife's name wasn't listed on form under signature line, I wouldn't ahve had her sign either. Although CT isn't a state that has non-borrower spouse requirements.

Reply by Sara_NV on 9/13/05 12:49pm
Msg #64959

Her name was not printed below the line, but neither was the husband's.

Reply by B on 9/13/05 2:16pm
Msg #64971

If they have a list of documents for the non-obs to sign, fine. If the non-obs name is on the documents, fine. But it is ludicrous to expect you to read each document to determine if the non-obs should sign. That gets into UPL. I think they should pay you the full amount.

Reply by Lee_AR on 9/13/05 2:45pm
Msg #64974

B's post is absolutely on target

People, we HAVE to stop taking this crap. It's NOT our job to determine who's to sign what. It's their job... and they are paid very well to do it. We're not.

Reply by Bonnie_FL on 9/13/05 6:18pm
Msg #65001

Re: B's post is absolutely on target

I agree 100%. They tell us we are NOT allowed to give legal advice, yet they do rely on us to determine if the BO does or does NOT sign when all the names are left off of a doc that merely states it is for the BO, no mention of the nonborring spouse! I would have done the same based on the name of the doc, just had the BO sign. They are totally unfair. Why should we have to determine who is supposed to sign. I do realize we have to have some knowledge of what we are explaining and an understanding of the doc or we shouldn't be out there in the first place. But I think you should fight for your full pay in this case. Good luck.

Reply by Roger_OH on 9/13/05 9:40pm
Msg #65036

A different view...

If you live in a dower/homestead state, and you see that the borrower is married, an NSA should KNOW that at a MINIMUM the non-obligor has to sign the RTC, TIL, Mortgage, and sometimes HUD, even if their names aren't on the signature line. I would onfirm the borrower's intention to have the spouse as a co-borrower or a non-obligor. If the latter, certainly call and advise the SS that the name may not be there; but YOU SHOULD KNOW the loan cannot proceed without the non-borrower's signature on at least the security docs. This is the difference between being "just a notary" and an NSA. Most companies will tell you to just write the spouse's name under the necessary lines. If you just ignore it and do nothing,
everything is redrawn and the borrower's term's may be jeopardized.

Go the extra mile - have them sign the security docs and save the signing, instead of just ignoring what you know needs to be on there. It's not UPL - it's common sense for an NSA.

Reply by Sara_NV on 9/13/05 10:56pm
Msg #65044

Yes, absolutely...

I agree Roger and I am thoroughly knowledgeable about the requirements in my state. I would EXPECT to have the non-obligor sign RTC, DOT, TIL, sign. affadavit, but this "borrower's affadavit" is NOT a standard form in most loan packages I have experienced.

Reply by Nancy4_FLA on 9/14/05 12:05am
Msg #65054

Re: A different view...

I agree with Roger, I live in a Homestead state and the TC's and SS expect us to know what does the non borrowering spouse must sign. Some TC send docs with the non borrowing spouses name pre-printed and some do not.

I had a loan a month ago that was a girlfriend selling her house to her boyfriend (she was not on the loan at all, came off the deed, gave him a large gift of equity and they both were still going to be living in this house together, strange but I know better than to ask) The TC prepared it as a refi and had his name on the Survey Affidavit and Affidavit of no liens, I had them both sign because he could not attest to the survey or the information on the other affadavit . Since the TC had his name I had him sign but I also had her sign. I could reach anyone for direction because it was late (docs were late) and everyone left for the evening.
It was fine and no complaints from the TC. Sometimes we do need to think out of the box when dealing with loan docs and that only comes with experience working as an SA.