Posted by MonicaFL on 2/27/06 11:40am
Msg #100224

Backdating Docs

Well, Twice this week I was asked to backdate documents. I went out on a closing and the borrower refused to sign after speaking with the LO about the settlement charges. I called the SS and told them the situation. They said okay, we will pay you anyway. Then, the next day I get a call from the SS stating that the loan was now going to close and the customer wanted me to do the closing. I said okay - then the kicker - well, these documents are date sensative and need to be backdated. I told her no way. She even offered to "pay more" if I would do it. Told her that there wasn't enough money in the world to pay me to do something that was illegal. Told her if she wanted to find someone dumb enough to do it then by all means go for it. She said okay and goodbye. That company was Nationwide Signing and they have a four star rating on the notrot list! go figure. The other one was a Loan Officer who hounded and hounded me about getting the closing done. I told him three times that I couldn't do a closing if I didn't have the docs. 11:00 p.m. came around and the SS called and said they couldn't get ahold of anyone at the title company to get the docs so the closing would just have to take place tomorrow. Fine. Tomorrow the LO calls and wants to pay me "more" to backdate the docs. I told him NO WAY!!!!! I called the SS (NotaryOne) and they were absolutely shocked that #1, the loan officer would be calling me and #2 that he would offer me "more" to backdate. I guess they (NotaryOne) took care of the situation because I did try to give the LO a courtesy call when I had actually completed to closing but his voice mail was "full" - hummmmmm. Is he just not answering his calls or is he just not there anymore? The people at NotaryOne were extremely professional and gracious and very kind. Just had to get this off of my chest!!!!!!!

Reply by Charm_AL on 2/27/06 11:44am
Msg #100225

While I and everyone here will agree that backdating is a no-no, it may wind up hurting your business in the long run by name dropping. Just my 2 centavos

Reply by Art_MD on 2/27/06 12:40pm
Msg #100268

Has anyone else done this...

Told borrowers that the docs were date sensative and if they didn't sign, then the paperwork would have to be redrawn once they got all the kinks worked out. They didn't want to delay receipt of the $$$.
So, the borrowers signed, AND KEPT THE SIGNED DOCS. They worked out the problem (closing costs - not rates or anything.). Went back, with new TIL and hud. Had them sign, took entire package and sent it off.

Reply by AngelinaAZ on 2/27/06 12:58pm
Msg #100276

Did you go back another day with a new TIL?

Reply by Art_MD on 3/1/06 11:30am
Msg #100962

Went back the next day with the new TIL and settlement statement. As all the docs were signed and stamped, and the TIL and HUD 1 didn't need notarization, there was no backdating involved and the loan was not delayed (unless recinded and I wouldn't know about that.)
Got paid for both trips.

Art

Reply by Eric Sosa on 2/27/06 5:46pm
Msg #100384

Name dropping was not needed a but thank you for sharring your experience with the rest of us. We are the gatekeepers.... ... Good to know u know its a no-no. and I won't do that either.///so don't ask./// Business will not suffer if you do the right thing. In the long run you'll be a happier camper.