Posted by ruru_CA on 12/19/06 5:01pm
Msg #166750

non-owner

what does it mean when you are doing a signing for a non owner borrower?
thanks,
ruru

Reply by Kate/CA on 12/19/06 6:35pm
Msg #166766

Non owner is not on title. Example, two borothers can be the borrowers with property being owned by one as their sole and separate property.

Reply by Susan Fischer on 12/19/06 6:47pm
Msg #166770

Do you mean a non-borrowing spouse? n/m

Reply by ReneeK_MI on 12/20/06 4:59am
Msg #166858

or could you have meant "non/owner-occ?"

common jargon for loans on properties OTHER than primary residence is "non/owner-occ" (meaning, of course, "non/owner-occupied". If you weren't familiar with the term, you might HEAR it or interpret it as "non-owner borrower" instead. Title will usually mention "This is non/owner-occ" so you know there won't be any recission period.