Posted by laura padilla on 12/13/06 1:41pm
Msg #165646

notice of right to cancel

where can i get a copy of "notice of right to cancel"?

Reply by CaliNotary on 12/13/06 1:48pm
Msg #165652

Why on earth would you need this?

If it applies it will be included in the docs. If it's not in the docs you better not even THINK of giving a copy to the borrower.

Reply by John_NorCal on 12/13/06 2:17pm
Msg #165664

Re: Why on earth would you need this?

Only situation I can think of is like one where there is a split signing. Docs came in with the wife's signature but not an extra rtc for the husband. What I did was to make a copy of the RTC and had the husband sign the copy in blue ink then left him with 2 copies of that.

Reply by cassiewi on 12/13/06 2:35pm
Msg #165676

Or

What about not enough in an O/N package that went to the borrowers. I haven't done it, but is that something that is allowed?

Reply by CaliNotary on 12/13/06 2:40pm
Msg #165678

Re: Or

In those cases you should make copies of the RTC that came with the docs, not add one of your own.

Arbitrarily adding new docs to the loan package is equivalent to putting a post it note on the top of the package that says PLEASE SUE ME FOR UPL.

Reply by cassiewi on 12/13/06 2:56pm
Msg #165683

Re: Or

I respect your opinion Cali and understand what you're saying, but if they are O/N to borrower, you don't see the package before you get to the BOs house. What do you do when that happens? If there are 3 in package, and not 5? (1 to go to TC, 4 for borrowers)

Reply by CaliNotary on 12/13/06 3:04pm
Msg #165687

Re: Or

You can ask the borrower if they can copy it. Or tell them to make a copies after the signing. It's the lender's responsibility to make sure the legal requirements of the loan package are met, not yours. If anyone were to get busted it would be them, not you.

And no, if a borrower only has 2 copies of the RTC in their possession instead of 4, I'm not going to feel sorry for them. They still have what they need to cancel the loan, that's good enough for me.

Reply by cassiewi on 12/13/06 3:09pm
Msg #165691

Re: Or

True enough. O/N to BOs doesn't happen often, but it's something I've wondered about. I usually make a note if there aren't enough there and leave them with what came with the package. Points taken and thanks. I really don't want to be sued for UPL.

Reply by MistarellaFL on 12/13/06 1:51pm
Msg #165653

blank nortc in pdf format

http://www.addiemac.org/pdf/NotRiteCanc.pdf

Reply by Nancy Korb on 12/13/06 1:54pm
Msg #165657

Re: blank nortc in pdf format

Some borrowers don't have a right of recission, especially if it's a second home. If it's not in the package, don't give them one.

Reply by AngelinaAZ on 12/13/06 3:42pm
Msg #165707

Can you imagine...

... if someone added it to an investment property, 2nd home or purchase?

I'd love to see what happened with this one... and why she thought she needed it.

Reply by Gary_CA on 12/13/06 3:52pm
Msg #165710

don't need that much imagination...

What if she just transposes two numbers in the zipcode of the bank's address and the post office routes it through Timbucktoo... and the loan funds before it gets there.

If it's something I never want to use... I want to be able to swear I don't even have one.

Yeppers, bad idea.

Reply by AngelinaAZ on 12/13/06 4:09pm
Msg #165719

Re: don't need that much imagination...

I've been catching up on NR in the last few days and I'm shocked at the newbie questions. Am I the only one that wants to know where the he!! these people are coming from? What I want to know is who's 'teaching' them these wonderful ways of business?

My advice to them... Get your freaking money back from that class 'cause you're gonna need it for the attorney.

Reply by MistarellaFL on 12/13/06 4:19pm
Msg #165725

LOL Angelina

What's worse than the newbie questions is the responding newbies.
It's like the blind leading the blind.
And even worse, when someone who is helpful and experienced like Titlegal
is giving advice, they all want to argue and dispute it with her.

Reply by rengel/CA on 12/13/06 4:36pm
Msg #165729

Re: LOL Angelina

<<<What's worse than the newbie questions is the responding newbies.>>>
<<<It's like the blind leading the blind.>>>
<<<And even worse, when someone who is helpful and experienced like Titlegal>>>
<<<is giving advice, they all want to argue and dispute it with her.>>>

Don't you love it when they come in, ask a question and then never return??? What's with that?

Reply by AngelinaAZ on 12/13/06 5:47pm
Msg #165741

Isn't there a Forest Gump saying that sums it up?

Something about STUPID????

I'm training a few new processors at work. One of them is really smart and I think she's got potential to accelerate quickly within the ranks EXCEPT that she's got an attitude about learning and other people telling her she's got it wrong. She constantly blames and argues if she makes a mistake. At the last manager's meeting we finally decided that although she IS smart... she's NOT smart enough to realize that she doesn't KNOW everything. So we gave the best position to another girl who isn't quite as bright... but who has a good attitude and is willing to learn. der....

Reply by MelissaCT on 12/14/06 8:40am
Msg #165861

Good point,

see Msg #164058 -- makes me rethink my opinion on this subject.