Posted by notarybird on 12/13/06 12:20pm
Msg #165601

Riders to the mortgage

I guess I'm an idiot, but would someone please specify what the riders to the DOT or mortgage are? I have an NBS situation, and she signed the 1003, and the Adjustable Rate Note. WRONG, or so I'm told. The Title company keeps telling me to have her sign the rider(s). No one, despite several queries seems able to tell me WHAT THE TITLE ON THE RIDER(s) is! Please specify riders for me. I have to drive three hrs on my own dime to correct this error, and no one seems able to specify which of all those sheets is the rider. I don't want to go back again.

Reply by Roger_OH on 12/13/06 12:28pm
Msg #165607

In most common situations, the NBS needs to sign the RTC, TIL, Mortgage, any mortgage riders, and any other docs specified in your instructions. They DON'T sign the Note. Not all packages will have mortgage riders. When in doubt, call the TC or LO.

Reply by Les_CO on 12/13/06 12:29pm
Msg #165609

If you have an "adjustable rate note" you usually will have an adjustable 'rider' to the DOT and perhaps a prepayment penalty 'rider' also The NBS will need to sign the DOT also. (along with the truth in lending, the HUD and the right to cancel) Call the Title company and MAKE SURE befor you leave.

Reply by Sharon Taylor on 12/13/06 12:32pm
Msg #165611

Read the top paragraph of the Rider

Some Riders apply to the Note, others to the Deed of Trust. You will find a reference to the document(s) it applies to in the first paragraph of the Rider. If it says it's a Rider to the Deed of Trust or Mortgage, then it needs to be signed by the NBS if required in your state.

Reply by Susan Fischer on 12/13/06 12:33pm
Msg #165612

Why would a *non-borrowing* spouse sign the Application or the Note?

Riders to DOTs are titled 'Rider,' and usually follow the DOT in the stack.

Reply by Ndwa on 12/13/06 12:47pm
Msg #165620

Somewhere in the DOT (normally p. 2-3) list the name of documents blank check boxes that are to be attached as riders if applicable. Also, NBS need to sign "Itemization Amt Financed Disclosure" as it is part of the TIL.

Specific to Countrywide, NBS need to sign the "Document Correction & Fee Agreement" as well.

Reply by PAW on 12/13/06 2:23pm
Msg #165668

FYI - Not specific to CW. Some title companies, especially with purchases, will require the NOBS to sign any all **property** related documents, which may include survey affidavits, owner's affidavits, title affidavits, etc. in addition to the required "legals" and possibly the HUD too.

Reply by MelissaCT on 12/13/06 7:30pm
Msg #165770

Check the mortgage

the riders that are attached are usually checked off as being attached.

Susan, You said ecatly my first thoughts!! Why on earth would someone have the non-borrower sign the note?? Obviously this person has no clue what the note is or how to do the job of a signing agent.

Reply by closerchris on 12/13/06 12:43pm
Msg #165619

A rider to the mortgage deed is executed and recorded along with the mortgage (they "ride" the mortgage). They're used to acknowledge special terms to that specific loan program which are not addressed in the standard verbiage found in a mortgage. For example, typically a lender will attach a Planned Unit Development Rider to acknowledge that the subject property is located within a homeowner's association.

The second or third page of the mortgage deed will tell you which riders, by name, to have executed by the borrower and NBS.

Typical examples are a PUD Rider, Adjustable Rate Rider, 1-4 Assignment of Rents Rider. Each of these riders are titled as such.

Reply by Notaries Public - Morona (Ronni) on 12/13/06 1:03pm
Msg #165634

Thank you all. You guys are great!!

Reply by ReneeK_MI on 12/14/06 4:31am
Msg #165842

Mtg riders also sometimes ....

refer to the "Security Instrument", which of course is the mtg/DOT.

You can't ALWAYS count on the Riders being checked off on page 3 (or whatever page showing the Rider list), and you can't always count on them printing behind the mtg.