Posted by CVSigner on 9/27/05 9:52am
Msg #67536

Two sigs instead of one

Has anyone had both parties start initialing the documents only to find out after a few pages that only one of the borrowers initials were actually needed. Will it get rejected if both parties signed/initialed when only one was called for?

Reply by B__CA on 9/27/05 10:19am
Msg #67553

Are they both named on the form? If so, they both can initial.

Reply by NorCalDar on 9/27/05 10:19am
Msg #67554

This is a good example of why a SA should look as the signature page to see how the borrower(s) is/are listed (or in this case who the borrower is). Most people want to use first and last initial by habit so it is a good idea to look at the signature page to see if they will need to initial first, middle, last or just first last.

Reply by CVSigner on 9/27/05 10:25am
Msg #67555

It has nothing to do with how they initialed their name but that both parties initialed the pages when only one was names on the sinature page.

Reply by Art_MD on 9/27/05 11:11am
Msg #67569

Sounds like a DOT. I don't think anything will come of it. As long as only the named person signed the sig page. But, if there were 2 people signing, couldn't be a DOT since only reason spouse would sign any docs is if on DOT.

What was document?

Reply by CVSigner on 9/27/05 11:44am
Msg #67581

documents

The DOT is fine, but the first sets of papers were the closing instructions and Note with many initial lines at the bottom. I had both the borrowers initial these 5 pages before I got to the meat of the loan and noticed that only she was the borrower. He was also named on the DOT and some other docs in which I had him sign but he was not on the first bits of pages. I was just wondering if they will care if he initialed some docs as well.

Reply by Art_MD on 9/27/05 12:34pm
Msg #67597

Re: documents

I don't think you'll have any problem. Instructions are junk docs and don't affect the loan. As long as the borrower alone signed the note, I don't think they will even look at the initials.

Art

Reply by NorCalDar on 9/27/05 1:13pm
Msg #67618

Re: documents

I can’t believe this thread. It doesn’t matter??? Why not let the kids and neighbors join in the fun and put their initials on it too? Heck, while you’re at it, why not doodle on the Escrow papers while the borrower reads the Note? “I don’t think anyone will notice…”

Here’s an idea. Once you realize you made a mistake by allowing the person who was not supposed to sign the document place his/her initials on the other pages, switch with the borrower’s copies and GET IT RIGHT.

Sorry to be such a grouch but c’mon…

Reply by CarolynCO on 9/27/05 3:59pm
Msg #67646

Re: I agree with NorCalDar

If you realized during the signing that a mistake was made, why didn't you simply switch with the Borrower(s) copy? I mean it's not like you *didn't know* until you you were packing them up to be shipped back.

Reply by CVSigner on 9/27/05 5:11pm
Msg #67659

Ahhhh, must be nice to be practically perfect in every way!

Reply by Cris_AR on 9/27/05 5:21pm
Msg #67661

Re: Ahhhh, must be nice to be practically perfect in every way!

I would not know but I am working towards it! Do not spaz over it, not the end of the world and you have learned from it, we all make mistakes.

Reply by SignerCA on 9/27/05 6:03pm
Msg #67670

Indeed!

Reply by Art_MD on 9/28/05 7:36am
Msg #67729

Re: documents

The question wasn't what to do, it was if it would be rejected.
I had to assume that the signing was completed since the question was posed here on the site.
What would you have done if the borrowers copies were not available for a switch? Several lenders have "original" printed on every page of their set of docs, and "copy" on the borrowers copies. Several lenders stamp every page of the borrowers set with the word "copy" in big blue letters Would you switch then?

Art

Reply by NorCalDar on 9/28/05 1:40am
Msg #67720

*It has nothing to do with how they initialed their name but that both parties initialed the pages when only one was names on the sinature page.*

I'm not trying to bust your chops here. What I am trying to point out is that if a SA blindly has the borrower initial without checking to see how they are listed on the signature page, there is a potential for under initialing. It is an issue for some TC. For example, a borrower initials the first two pages of the Note "J.D." and the 3rd page of the Note lists "John Frank Doe" then Mr. Doe has undersigned the initials. The SA should have had Mr. Doe initial "J.F.D."