Posted by DD/OR on 4/13/07 8:52pm
Msg #185127

Is Title company wrong?

What do you think? I just completed a signing. The Title co overnighted docs to me. The RTC had a note attached to it that said for me to have the borrower NOT put in the dates and initial in the side bar. Also to initial to the left of the cancellation box in the side bar. I thought this strange if not illegal. Any thoughts on this?

Reply by JanetLA on 4/13/07 8:57pm
Msg #185129

yep

I know a particular company that tries to do this on each and every signing. In the case specific to this company that I am speaking of: They are allowing time in case they need to change any of the docs. They want to fill in the dates later as applicable. Nothing doing. I always date it on the date that they are signing and tell them that I refuse to leave it blank. They argue, and say other notaries do it all the time. Good for them. Not me. Have a great weekend all. I am off to the French Quarter Festival. Great music, better food and the best folks around.

Reply by Mary L. Yerkes on 4/13/07 9:00pm
Msg #185132

I wouldn't do it. The regs state that the RTC must be fully completed and that the borrowers must receive two fully completed copies. Maybe the title company has had too many notary put in the wrong dates and they want to do it themselves but that wouldn't be ethical. If you have the borrower initial the correct dates and sign and date the confirmation section you should have no worries.

Reply by Larry/Ca on 4/14/07 1:34am
Msg #185177

This is a strange request....

from Title. If they wanted to monkey with the RTC, why would they ask the notary to assist with this. Notaries will most likely balk at this. Having said that, it is not clear that it is illegal as this is not a notarized document, not all RTC's state that the signers are receiving two COMPLETED copies of this document and they may ask to have borrowers place their initials anywhere and everwhere on the all docs. This disclosure and all the docs are theirs and their business, not ours. They dictate how they want the documents executed. If they approve the borrowers writing "This Sucks" on the Note and changing all the figures to whatever they want this is none of our business.

I would be interested in reading others arguements on honoring Titles request here as I cannot think of a position that refuses the request that is not UPL.

Reply by ReneeK_MI on 4/14/07 4:44am
Msg #185179

Re: This is a strange request....

I'm with you on this, Larry. I can't figure out what they're intending - but can't figure out anything they can do with it that's illegal, nor do I find any valid reason to refuse to provide the borrower with the doc and their instructions.

If you have a mtg, a Note, a TIL, and all the other items signed/dated - the only thing that could be done DIFFERENTLY with the RTC and still have a loan that'll fly is if the recission is extended. Can't be SHORTENED - you've got the mtg, Note and other stuff clearly showing the transaction date.

Could it be - they're having so many of these that are getting dated incorrectly at the table that they're using this as a problem-solving measure? I don't know, but it is odd.

Reply by Becca_FL on 4/14/07 9:47am
Msg #185194

Re: This is a strange request....

I'm with Larry and Renee on this one too. It's not up to us to decide how the document is to be executed. The doc is not notarized and Reg. Z doesn't require the signing of the RTC. I have no idea why the TC would request this, but I think Renee has a good theory.

Reply by JanetLA on 4/14/07 10:17am
Msg #185199

What does it say where they sign?

If the bottom portion of the document states that they have received two COMPLETED copies of the RTC therein lies one potential problem. If it does not, there is another possible problem. If they are initialing a blank portion of the form, they can later contest the contents, saying that they were not given proper notice of the time frame that they were allowed to cancel the loan. There are many other reasons that this should not happen...

Reply by DD/OR on 4/14/07 11:44am
Msg #185213

Re: What does it say where they sign?

I'm inclined to agree with you, Janet. They signed in the usual place, at the bottom of the page. I just wish I had made a copy of the page and her (Title's) note to protect myself. I don't think it's legal. But as a notary, I don't have any control or responsibility over the loan docs. Only the notarized pages. But they could come back later and say that I neglected to put in the dates. Darn, I wish I had made a copy.