Posted by Joe Greeson on 2/10/07 6:41pm
Msg #175149

Answer to California recission question

I notarized for a california refinance last night. When it came to the recission, the date was wrong. I actually had the broker of the company tell me not to change the date, that it didn't matter. I am just wondering if this is true, or if the documents will be rejected because the recission date is only one day after the signing date. Any help would be appreciated. Thank you!

Reply by Sylvia_FL on 2/10/07 6:42pm
Msg #175151

Shouldn't be a problem as the RTC clearly states they have the three days, and they would have dated their signatures.

Reply by Joe Greeson on 2/10/07 7:34pm
Msg #175157

Thank you for your input sylvia

Reply by GF_CA on 2/10/07 9:45pm
Msg #175168

If the borrower signed yesterday, the recission date should be 02/13/07

Reply by Joe Greeson on 2/10/07 11:57pm
Msg #175179

Thank you for your reply. I knew the recission date would be the 13th, however the broker didn't want me to change it. I just hope it doesn't get rejected by the lender.

Reply by GF_CA on 2/11/07 12:37am
Msg #175182

You did what the broker told you to do, isn't your fault if the lender reject it. Like Sylvia told you, the borrower dated their signatures.

Reply by jojo_MN on 2/11/07 1:19am
Msg #175184

The broker isn't the entity that hired you. I've run across quite a few brokers that don't know the laws. As an NSA, you should know the correct way to calculate the rescission period. IMHO

Reply by Ernest__CT on 2/11/07 7:08am
Msg #175190

I'm with jojo_MN.

A broker does not tell a Notary Signing Agent what to do, especially not when it comes to dating documents. You should have dated the Right To Cancel correctly, then added a note (out of the borrower's and broker's sight!) saying what the broker requested.

YOU are responsible for doing The Right Thing. Don't be bullied by a know-it-all.

Reply by Joe Greeson on 2/11/07 1:34pm
Msg #175227

yes