Posted by Ernest__CT on 8/2/07 8:44pm
Msg #203663

Huh? *Three* copies of whole package???

And you want *two* of them *signed* and returned?!r

134 pages (so far), with the HUD and title docs still to come.

I sent email to the signing service asking them to check with their client to make sure they really need two signed copies. There's no way I'm printing three complete copies and having the borrowers sign two complete copies for the single-refi-with-edocs price.

What would you do?

Reply by cassiewi on 8/2/07 8:48pm
Msg #203667

I agree. Ask to make sure they really need that and if so, ask for more money. This is all my opinion though, I wouldn't take the time for regular pricing.

Reply by Becca_FL on 8/2/07 8:53pm
Msg #203668

Two entire loan packages signed? Crazy! I would charge what I do for a 1st & 2nd with two edoc fees.

Reply by Margaret_FL on 8/2/07 9:00pm
Msg #203670

I had one Reverse Mortgage ask for 2 signed but they tld me not to print the borrowers copies as the title company sends them a copy of the signed documents. Then the next time I got another signing, they only said to print 1 set of documents to be signed. I called to make sure and she said they changed their policy. She said that was too much signing. I said Duh?. I agree, they are elderly and the man had a terrible time signing that much paperwork but he was so sweet.

Reply by Linda_H/FL on 8/2/07 9:10pm
Msg #203674

Re: Don't you, by law, HAVE to leave copies of certain

documents with the borrowers when you leave (RTC, TIL, etc.)? How can they tell you not to bother?

Also, with regard to the original post - I'd charge an extra print fee for the extra set of originals and an extra fee for the additional time it takes. Many times when there are duplicates I find the borrowers wanting to "check and make sure they're the same" which can run into extra time....yes it will go faster but not necessarily as quick as you'd expect.

JMHO

Reply by PAW on 8/2/07 9:45pm
Msg #203681

The borrowers must receive copies, but ...

... you are not required to provide them. The lender/title company bears the responsibility that certain disclosures be provided (TIL, RTC, etc.), but nothing says that the signing agent must provide those copies. As stated in Reg Z:

The consumer may exercise the right to rescind until midnight of the third business day following the occurrence described in paragraph (a)(1) of this section that gave rise to the right of rescission, delivery of the notice required by paragraph (b) of this section, or delivery of all material disclosures, whichever occurs last. If the required notice and material disclosures are not delivered, the right to rescind shall expire 3 years after the occurrence giving rise to the right of rescission, or upon transfer of all of the consumer's interest in the property, or upon sale of the property, whichever occurs first.
... ... ... ... ...
(b) Notice of right to rescind. In any transaction or occurrence subject to rescission, a creditor shall deliver two copies of the notice of the right to rescind to each consumer entitled to rescind (one copy to each if the notice is delivered by electronic communication as provided in Sec. 226.36(b)). The notice shall identify the transaction or occurrence and clearly and conspicuously disclose the following:
(1) The retention or acquisition of a security interest in the consumer's principal dwelling.
(2) The consumer's right to rescind, as described in paragraph (a)(1) of this section.
(3) How to exercise the right to rescind, with a form for that purpose, designating the address of the creditor's place of business.
(4) The effects of rescission, as described in paragraph (d) of this section.
(5) The date the rescission period expires.


Reg Z further states:

Reply by CaliNotary on 8/3/07 3:37am
Msg #203706

"Then the next time I got another signing, they only said to print 1 set of documents to be signed. I called to make sure and she said they changed their policy."

I always print a borrower's copy, even if i'm told not to. My edoc fee is based on 2 copies and I like to know that the borrower has a copy to review during the RTC period in case someone "forgets" to send the borrower's copy until the 3 days have passed.

Reply by BrendaTx on 8/3/07 5:14am
Msg #203709

**I always print a borrower's copy, even if i'm told not to.**

Me too, for all the same reasons.

Reply by Kate/CA on 8/2/07 9:13pm
Msg #203675

I've done several of those, they paid good! n/m

Reply by SharonH/OH on 8/3/07 6:47am
Msg #203714

Isn't there somethng about the Note SHOULD NOT be signed twice? Don't know whether it's a legality or title preference, but I know I've seen that in instructions.

Reply by MelissaCT on 8/3/07 8:34am
Msg #203740

Re: Technically, in CT a lender cannot require

multiple copies of the note to be signed as a condition of funding. HOWEVER, if requested by the hiring entity, we still must print what is requested & present to borrower for signatures. It is not up to us to determine that borrower doesn't need to sign all. IF BORROWER refuses to sign multiple copies, I believe they would be well within their right to do so.

Kevin/CT and I discussed this issue a few days ago.

Ernest, for what it's worth, I've seen requests for multiple copies of HUD, note & deed, but not the entire package. Of course, it could also be because CT notaries cannot certify copies?? Just my thoughts here...

Reply by Gerry_VT on 8/3/07 9:48am
Msg #203767

Re: Technically, in CT a lender cannot require

A note is a negotiable instrument. In principle, placing an original signature on two notes is like placing an orignial signature on two checks. Perhaps there are systems in place to keep this from coming back and biting the borrower, but isn't it better for the borrower to do it right in the first place, rather than trusting to backup systems that he/she hopes exist?

Reply by Les_CO on 8/3/07 8:35am
Msg #203742

I've had this from a couple of companies. I believe it's because they don't want to bother making a copy for the lender and stamping it "certified copy". One company (Settlement Corp) does this all the time. The last one I had from them was a 1st and 2nd, WAMU (huge package) supposed to be overnight. turned out to be rush edocs. 526 pages! When I called and asked for six cents a page We had words. There is no point in my taking a job that I loose money on, so I said get someone else. I guess I won't be working for them again.

Reply by LJ on 8/3/07 12:51pm
Msg #203807

I have had pkgs where there are 2 Notes. One is marked "Certified Copy" on it. This is legal.