Reply by Ernest__CT on 11/1/06 11:55am
Msg #156634
There should be no differences between two, three, or more signers. Just ID each one as if he / she were the only one. be sure to have each signer sign over the correct printed name! Sounds silly, but ....
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Reply by Ernest__CT on 11/1/06 12:14pm
Msg #156640
You're welcome!
Some things sound too silly to say, but not saying them is even sillier!
The most signers I've had personally on one refi is five. Yes, as in 5, F I V E. Identifying them all was interesting and there were some questions that I've heard innumerable times (no, you can't be winesses for each other).
It is especially important to keep the signers signing in the right places so that checking the docs (both for you and those who come after you) is easiest. Watch out for J. Random Borrower and J. Random Borrower, Jr. Or maybe John R. Borrower and J. Random Borrower. Having the signers sign over their printed names is often the key to sanity (yours, not theirs).
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Reply by Pamela on 11/1/06 12:57pm
Msg #156653
Bill, Re: Three Signers
If possible, I would contact each signer (via telephone) to verify
appointment date, time and location (as well as I.D.).
Reason:
I've had signings with multiple borrowers/signers, which had to be
rescheduled, because although one borrower/signer knew the date,
time and/or location, the others did not.
For example, one appointment was with three borrowers: a mother,
adult-daughter and daughter's boyfriend, living in different homes.
Working various shifts. They kept getting the days, times and locations
confused. This one had to rescheduled twice.
Also, depending on the "type" of loan, you may (or may not) need to make an
additional copy of the loan packet for this third person as well (Including two
copies of the RTC for him or her to keep). Meaning, that, there may be three
signers, but only one or two borrowers. Verify this with the company.
[Note: When it comes to making copies, if the signing is with a husband and wife
for example, (living in the same household), I print only one copy of the
loan documents. However, if there are additional borrowers (i.e Aunt, Uncle etc. . .),
I print out an additional set for them too.]
Pam
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