Posted by SLP_VA on 3/29/06 7:27pm
Msg #109548

Awkward Request from BWR

I called to confirm an appointment with borrower. The Mrs. confirmed and said it was a go.

She then caught me off guard with this question:

If my husband asks you what the interest rate of the loan is, would you have to tell him?

I stated, I would go to the particular document to show him what the interest rate was and if he had any questions on it, he would then have to contact the LO or TC.

She said she knew the interest rate was 6.25%, but he thinks it is 5.00% and would I have a problem telling him that if he asked? She said they would be signing really fast because they would be at work and he probably would not have time to read anyway. I advised her that if he specifically asked that question, I would have to show him the Note with the IR. I can't put myself in that situation under any circumstance.

Has anyone ever come across a situation like that? And if so, how did you handle it?

Reply by Erin C. Wall Signature Services on 3/29/06 7:45pm
Msg #109550

You can only point out where the answer is found and pray he is so old and lazy he does not read it, then you may proceed. Worst case scenario, they have a little tiff and then get back to business because they have been drug around so long they are desparate to close this thing.......but that's just me. You are not required to answer the ?, just point him in the right direction......

Reply by Erin C. Wall Signature Services on 3/29/06 7:49pm
Msg #109551

They're coming to take me away, HA HA, they're coming to take me away!

Reply by Jenny_CA on 3/29/06 8:47pm
Msg #109565

I had the borrower tell me ( not ask) not tell the spouse the loan was a 30yr term, apparently she thought it was15.

I made it clear that as a notary public I was there to point out facts and if they needed to work something out regarding the loan that was between them. There were no problems at the table and don't know if there were any after I left.

Reply by Erin C. Wall Signature Services on 3/29/06 8:56pm
Msg #109567

Always emphasize RTC. 3 copies per borrower....hellooooo.......great job.

Reply by Ninna_La on 3/29/06 10:42pm
Msg #109613

I've had this happen. A wife who was the borrower did not want the non-obligor spouse to know the interest rate. I pointed out to her that he will be privy to the til which does disclose the APR, and that I would be showing it to him at the signing. At the signing, I produced the documents the non-obligor husband was to sign, which included the til, at which point he wanted to know what the interest rate was. The wife and husband discussed it.... he was not happy with her decision, but they both signed.

I would never (and it's evident that you wouldn't either) be party to some else's deception.... and she should have never put you in that position to begin with.

Reply by Blueink_CA on 3/29/06 11:11pm
Msg #109617

Yes we are put in some ackward positions! I was instructed to meet Mr Bo at his workplace for a signing. In reviewing the pkg I noticed the non-obliger spouse was to sign some docs. When I called Mr Bo to confirm, I asked if his wife would be there. "No, why?"

Well we decided to meet at his home during his lunchbreak. I arrived before Mr Bo got home and Mrs Bo started the questions. They were pulling $60,000 of equity out of their home and Mrs Bo didn't have a clue. As soon as Mr Bo walked in, she went silent and the signing went along noneventfully. I remember wondering "what planet is SHE from?" If my husband tried to pull something like that, I would pity the poor SA who would be there to witness the crime!!

Reply by Mindy_WA on 3/30/06 12:36am
Msg #109624

I recently had a situation where Mr. Bwr met me at the door, he said, hey, I was wondering...I bought some rings for my wife for Christmas and I am paying off that loan with this one. Will that amount show in the docs? DUH! Well, he said that he didn't want her to see the loan amount for the "rings". I showed him where it was in the docs. He asked me to "skim" over those docs quickly...

When Mrs. Bwr came in, she quickly signed all the docs without reading. Very uneventful. I did however, notice that she was not wearing any rings, and certainly not $6,500.00 worth of them. Nor did she appear to be the type to wear THAT much jewelry. Hmmm?

I left feeling like he was such a JERK. Fortunately, for him, I didn't have to point out anything specific.