Posted by Markita_MI on 9/29/05 8:51pm
Msg #68047

What happens when...

you have a power of attorney and the AIF signs in the reverse... backwards; for example, sally doe, attorney in fact for john doe. Maybe it has just been a long day and I am loosing it....but as I look over the documents now for the fifth time since I completed the closing after 7pm--I think I am having a melt down. The coborrower got confused over the directions of how to sign.... I know it should be john doe by sally doe, attorney in fact. What do you guys think? Am I ok or am I loosing it? TIA

Markita-MI

Reply by PAW_Fl on 9/29/05 10:01pm
Msg #68062

It doesn't make any difference what we think. The correct format for signing with a POA is completely up to the lender and/or title company. If they accept it being "backwards," then it's okay. If not, they will ask to have it redone.

BTW, what did your signing instructions state was the proper format? If one way was specified and the signer did it the wrong way, you may have to redo the signing on your dime. If no instructions on how the signer is to sign was given, then a resign should be billable.

Reply by Markita_MI on 9/30/05 6:27am
Msg #68092

Thanks Paw!

There were no instructions regarding a POA as neither the title company or lender seemed to have had a clue about it. I was hired by the title company and called them immediately to let them know about the POA. I actually got the owner on the line and was advised by him to sign the docs exactly how the POA states. However, the POA does not state "this is how all docs should be signed". It only states as you know, who is being appointed AIF.

Nevertheless, my borrower who was a sweetie, could not seem to grasp the directions I continued to give her throughout the signing. She was elderly and seemed confused when advised about the need to sign john doe by sally joe, AIF. After about the 10th explanation, I just let her sign her way....in the reverse. I hope the title company will accept it.

If not, as you said since there were no explicit instructions or even knowledge of POA if I have to go back out to resign, my time is billable. Thanks again PAW.

Markita-MI

Reply by PAW_Fl on 9/30/05 7:23am
Msg #68097

Re: Thanks Paw!

Whenever I have a "POA" signing, I pull out an example page and place it on the table for the signer to use. If I have the time beforehand, I will alter the examples to show the actual names of the signer (attorney-in-fact) and the principal, including how to initial the required pages. Saves time and explanation.

Reply by LisaWI on 9/30/05 7:37am
Msg #68099

Re: Thanks Paw!

Thats what I am going to do. I havent done a POA yet, but if and when I do, I am going to print out exactly how they should sign, being directed by Title or Lender of course, on a separate piece of paper in nice big bold letters. For both the sigs and initials. Putting something physical in front of the signers I believe, will eliminate alot of could be mistakes.

Reply by Becca_FL on 9/30/05 7:59am
Msg #68100

Re: Thanks Paw!

I always give POA/AIF signers a visual aide to follow. If you take two minutes to print the wording for them to follow, you may save yourself a trip back & a headache.

Reply by Markita_MI on 9/30/05 8:56am
Msg #68110

Just heard from title company..

it seems the office manager was out on a signing and the owner did not have anyone to ask about the POA. As I thought, the lender will not fund on this deal as they had no prior knowledge of POA signing nor had the lender approved it that way.

The lender is requesting a copy of POA papers--which I no longer have. Since, I have already shipped the documents, the lender will probably have to redraw docs and I will be sent out again for the second time on this deal.

Thanks so much for that great idea. For future references on POA, I am going to print up POA signatures pages and initial pages to help borrowers sign correctly and quickly.

I love this site! Thanks to all the experts sharing knowledge, notary signing service throughout the country continues to get better and better. Truly, this is one big way to give our profession the respect and prestige it deserves. I appreciate you all.

Markita-MI

Reply by CarolynCO on 9/30/05 9:12am
Msg #68116

Re: Just heard from title company..

So the signing confirmation nor any of the signing instructions in the doc package said anything about the signing being a POA?

Reply by Becca_FL on 9/30/05 9:17am
Msg #68118

Re: Just heard from title company..

I hope you sent the original POA and not a copy. Title will need to record the original POA to record w/ the Mtg/DOT, a copy can not record.

Reply by Markita_MI on 9/30/05 9:27am
Msg #68120

Re: Just heard from title company..

Nope the signing instructions page for the notary was first and typed in big bold,16-18 font letters in my package(recvd it next day mail).

Looks like I will be going back out to do this one because the lender never approved POA or knew anything about it.

Reply by Bonnie_FL on 9/30/05 10:42am
Msg #68131

POA

I too go with a visual aide but had a purchase in June with POA, 4 signers, 3rd one signing for the 4th. Title company told me ahead of time to collect original POA to send w/package and I printed out my wording.

Got to closing and loan package already had instructions on wording for POA which of course I had to use. However, it was quite lengthy and half way through the package the 3rd signer wanted to give up, got mad at having to sign so many docs the way the lender instructed, they wanted a break, etc., etc., by the time they were done wiht the giant lenders package, it was a whopping 3 hours later.

The lender wanted him to sign of course with his name on his spot as John William Doe. Then again using the POA lender terms he had to sign these exact words (I kept a copy of the instructions) in the 4th signers spot "John William Doe signing as himself and John William Doe signing as having the power of attorney to sign for Jane Nancy Doe".

The instructions were quite clear, I checked with the tile comapny just to make sure that's how they wanted it done before we began signing. Have to admit, never saw a sentence so long for a POA. The poor man had arthritis by the time we were done and gave me dirty looks throughout the signing (I actually showed him a few times the instructions which were left in clear view right in front of him during the entire signing) and the first signer was mad as heck since he just quickly signed his name, passed it onto his wife who signed and literally shoved it in front of the 3rd signer while she kept saying "why didn't Jane show up for this, could have made life simpler". And, the 3rd signer doing the POA wrote very very slowly to make sure he did it correctly while the other 2 kept saying "hurry up".

Such fun!