Posted by Blueink_CA on 12/8/06 5:55pm
Msg #164882

Who signs Identity Affidavit (CW) Revisited

On page 5 of the Closing Instructions it lists Definitions: As used in these Closing Instructions, the term:

h. "Settlement Agent" means the Signing Agent or any other person or entity directly or indirectly responsible for handling matters associated with Signing, Funding, Disbursing or Recording.

When I questioned who signs as Settlement Agent on this form, I was told the Signing Agent is to sign and I was referred to this page of the instructions.

I thought this was interesting.

Reply by Jason on 12/8/06 6:51pm
Msg #164888

What I do. Never a prob w/ tc

I cannot notarize a form I complete.

I have brwrs fill out the form and sign.

I adjust certificate wording so I am notarizing brwrs sigs.

This also goes for TCs + SSs that want me to notarize a form saying the brwrs will have to pay me if they use the rtc. I cross thru that crap.

I can't notarize a form in which I have a financial interst.

Reply by notarybycony on 12/8/06 8:43pm
Msg #164908

Re: What I do. Never a prob w/ tc

I done one these pass few days and did the same as Jason. I didn't think it was too much of a problem.

Reply by Lisa Prestegard on 12/9/06 12:08am
Msg #164985

Directly below the words "IDENTITY AFFIDAVIT", in parentheses, it says (to be completed by Borrower)
Page one of the Identity affidavit says, in bold letters "Witness the hand and the seal of the undersigned". The Borrower completes and signs THAT page. On page two, at the top, there is Notary verbiage which allows YOU to complete the Notarial certificate attesting to the fact that you witnessed the signature of John Doe, Borrower. No where does it state that you are witnessing or attesting to the signature of the Settlement Agent. That section is to be LEFT ALONE.

I am not a CW employee, but have done my fair share of CW/FSL loans over the past two years (250+) and have seen and/or heard of every conceivable mistake from my dear friends in the Compliance Department. I've even made a few myself. Therefore, I am confident as to how this form should be completed.

As an aside, anyone attending our Florida NSA Network meeting tomorrow in Sebring will have the opportunity to hear me go on ad nauseum with regard to CW/FSL packages as I explain how to meet their stringent compliance each and every time.

Reply by PAW on 12/9/06 7:27am
Msg #165018

Just finished two last night. The ID Affidavit is exactly as you (Lisa) explain. Borrowers complete page one and sign it. Notary notarizes the signature on page one. Don't complete the Settlement Agent section which is directly below the notary certificate. No problem.

Reply by MonicaFL on 12/9/06 9:39am
Msg #165028

Lisa, I always identify the document on the line just ABOVE where the settlement agent statement appears. I put "Type of doc: Identity Affidavit" - no one has ever challenged that statement. And, I do this to CMA. Don't want that notarized document to be used with anything else except for the explicit purpose for which it is intended.

Reply by Larry/Ca on 12/9/06 12:24am
Msg #164993

This is interesting Blueink as.....

Lisa, a CW prefered closer, stated with certainty that this doc was for others to sign. Was the info you got to sign from the CW LO or from SS or someone. I wish I had a countrywide infront of me to look at.

Larry

Reply by Lisa Prestegard on 12/9/06 12:36am
Msg #165000

Re: This is interesting Blueink as.....

Larry, I will email it to you

Reply by Blueink_CA on 12/9/06 5:26pm
Msg #165064

Larry, getting back to you

I received this info from the TC involved. When I first saw this form, I did not sign the Settlement Agent part Then I started receiving instructions to sign this (post it notes, bright colored cover sheets with a 72 pt font, instructing me to sign).

Reply by Blueink_CA on 12/9/06 5:30pm
Msg #165065

Re: Larry, getting back to you

Sorry, posted too soon. I have also received pkgs that have " Settlement Agent" crossed out and "signing agent" handwritten in. I think this is just another one of those subjects that there's no absolute answer. Perhaps it has to do with who the package is returned to. I don't know.

Reply by PAW on 12/9/06 7:25pm
Msg #165069

CW Identify Affidavit

http://www.pawnotary.com/documents/CWIDAff.pdf