Posted by COCO_CALI on 5/9/06 9:32am
Msg #118517

Right To Cancel

Good Morning All,
I have a Question maybe you can help me with.I have a Signing today and there are copies of the Right to Cancel in the lenders package with COPY stamped on them. But there are also copies in the borrowers package. Do I give them to the borrow if they say copy..

Reply by cmd_NH on 5/9/06 9:48am
Msg #118521

Each person on title receives two copies of the RTC. I always pull out one RTC for each person and make two copies of each and return the one I pulled back to the pile. I have each of the borrowers sign and date both copies and put them in the folder I supply for their copies (loan docs in right pocket of folder and signed RTC's in left pocket of the folder).

Then I have them sign all the copies in the lenders pile along with the rest of the docs and return that package back to lender/TC.

It's just easier for me to do it this way...they usually end up with extra copies but it's my way of making sure each borrower received two signed copies. And if they mess up, they can pull one of the other copies out of their package.

Reply by COCO_CALI on 5/9/06 9:53am
Msg #118524

Thanks.I was just concerned because the lender had COPY stamped on it

Reply by cmd_NH on 5/9/06 10:00am
Msg #118527

I've had lenders copies where the entire package is stamped "Borrowers copies". When I called on it, they told me just to have them sign, make sure the BO has a copy of everything and send it back.

I never pull anything out of the lenders copies. If I need extra copies of anything I just make them from the borrowers copies....that way the lender can't say something is missing (unless they misplace it after receiving it).

Reply by COCO_CALI on 5/9/06 10:08am
Msg #118537

Thanks