Posted by Anonymous on 3/9/06 11:47pm
Msg #103770

Signature

Ok, I'm confused. On my closing instructions during a loan doc signing. It said, borrower's must sign exactly as printed, even if this is not their usual signature. Therefore, I always instruct them to do that. I sometimes get a refusal, but when I show them the closing instructions, they do it. I had to do a signing for a redraw today, the bwr signed earlier. She said the notary told her to sign her usual signature. So, she put up a fuss until I showed her the closing instructions. But, I've heard other bwr's say that before, which is correct?

Reply by Mary_in_VA on 3/9/06 11:57pm
Msg #103771

I generally advise the borrower of the closing instructions and that, if they use their normal signature, the lender may reject the documents and require that the loan be reclosed. Then, it's the borrower's choice. If they still use their normal signature, I write a note to the title company or SS to cover myself. My personal opinion is that the correct procedure is for borrower to sign their normal signature: I can notarize someone's mark, so why would their "signature" be insufficient to a lender if I've notarized it? And you should see MY signature!

Reply by AngelinaAZ on 3/10/06 12:25am
Msg #103773

One of the first things I do is check the ID and check the vesting. I say to them... OK Mr. Brown, they have you listed here as Robert P. Brown so please sign the documents that way and when you initial.. initial RPB. They say OK... and if the signature looks like scribbles... hey... who am I to criticize? If that is how they sign Robert P. Brown then that is how they sign it. I witnessed it and we are good to go. I've never had any complaints or docs kicked back to me. I do tell them at the beginning that they have a lot to sign and they need to be as consistent as possible. (I do auditing and one of the things we look for is continuity in the documents. If the scribble looks the same from the beginning to the end... that's OK.. if it is a different scribble every time... this presents a problem.) Just FFT.

Reply by calipat on 3/10/06 2:03am
Msg #103776

I always tell them to sign the way they sign any legal documents. I tell them it has to be consistant. I would say at least 99% of the BO sign exactly as their ID. I have had legible and illegible signatures, but if that is their normal signature then that is how it should be signed. If it is illegeble then I attach a note saying that is their signature and I have never had any problems.
I just had one on Monday where the BO told me that when they refinanced last year the notary made them sign legible and she said they both had the hardest time doing it and took 2 hours to do. Too much concntration. She even said if she saw those docs she would think that it was not her signature.