Posted by Jahari Davis on 3/23/06 6:39pm
Msg #108177

For the newbies...learning and understanding loan documents

Hey everyone. I found a page for a SS that has listed the various types of documents with an explanation of them. Using Dorothy/MI's posting #33325, in addition to this site it will help you get a better understanding of loan docs if you are new to signings, familiar with some but not all docs, or a seasoned pro but forgot a thing or two.

Check it out!
http://www.notariesink.com/types_of_documents.htm

On a side note, has anyone ever heard of JMT Document Services? Good? Bad? Ugly?

Hit me back.

Jahari

Reply by Beth/MD on 3/23/06 6:54pm
Msg #108187

JMT pays but pays on the lower side.

Reply by Jahari Davis on 3/23/06 6:59pm
Msg #108194

How low is low?

Reply by Beth/MD on 3/23/06 7:03pm
Msg #108197

Here in MD they offered me $65.

Reply by Jahari Davis on 3/23/06 7:09pm
Msg #108206

Yea, thats pretty low for a loan signing. The Title company I work with here in MI gives me 75 for a single loan and an additional $35 for the second if there is one. I can't help but wonder what JMT would offer me.

Reply by Dorothy_MI on 3/23/06 10:12pm
Msg #108241

$50 n/m

Reply by Ninna_La on 3/23/06 11:28pm
Msg #108255

They need to review some of their definitions/descriptions..... for example "Quit Claim Deed".... this is their description/definition:

QUITCLAIM DEED
Gives the title company and/or the lender the right to change/delete name/s to the names the borrowers have at the time of closing.

Reply by Lee/AR on 3/24/06 7:11am
Msg #108278

Non-Identity Affidavit is pretty lame, too, but you don't see these frequently.