Posted by aatatusko on 10/21/06 7:20am
Msg #154112
How many copies of DOT?
I tried searching this but couldn't find anything, so, my question is on a re-fi aren't two
copies of the DOT always required? I have one that is only asking for one copy, sorry
I'm new.
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Reply by PAW on 10/21/06 7:34am
Msg #154114
Title/settlement companies vary in the number of 'wet' signed DOT/mortgages are required. Most only require one, which gets recorded and returned. Once returned, the appropriate copies are made by the title/settlement company and "certified" by them.
Occasionally, you'll run into companies who want two or even three 'wet' security instruments. They submit one for recording, maintain one themselves, just in case there is a problem with the one sent to recording. Once the recorded one is returned, they make the appropriate copies and distribute as necessary.
When three copies of 'wet' security instruments are asked for, the distribution of those three is as follows: 1 for recording, 1 for title file (and replacement of recorded one if there is a problem), and 1 for the lender.
In my experience, I would guess that 99% of all my signings have only required one 'wet' security instrument.
('wet' means that an inked signature is affixed to the instrument, not a copy of a signature.)
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