Posted by MichiganAl on 2/13/07 11:02am
Msg #175476
Read your instructions
It should be the first thing you do, especially if it's a company you're not familiar with. Last week, I was called to get a couple of docs signed out of my usual area because two prior signing agents couldn't get the TIL and RTC right. It was a Countrywide loan, they're very particular about how you make date corrections on the RTC, but the instructions are there in three different places. The prior screw ups caused a Countrywide V.P. to get involved. Think these two notaries will ever get another call from this company? They probably don't even know they screwed up. Now I see someone else caused themselves trouble by not reading the instructions on a last minute signing. I know things can get crazy, I know it can get frantic sometimes. I've been guilty of it in the past. But like a professional athlete, we've got to know when to slow the game down in our heads. Take the two minutes to flip through your order confirmation and check on any requirements, then check the first few pages of the loan package for further directions. You'll save yourself a world of headaches.
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Reply by Dennis D Broadbooks on 2/13/07 11:32am
Msg #175482
Same Song...
...different lyrics. I just received an instruction page for an assignment this evening with a title company I haven't worked with in a while & scanned it for anything out of the ordinary. The first thing I noticed was they didn't list the address to have the package returned to & my initial reaction was to take it for granted it was the same as what I had in my database. To be sure I called the title company contact & gave them the address I had for my records. It turns out they've moved within the past year & I would've sent the package to the wrong address if I hadn’t asked.
Secondly, the instruction page specifically stated: "Please note...have borrower sign ALL pages of the 1003 even if there isn't a signature line." When I queried the title company contact about that requirement, he stated the intent (in spite of what it SAYS) was to only have the wife INITIAL at the bottom on the 1st 3 pages (these are married individuals, but only the wife was on the docs as the borrower) & then sign pages 4 & 5. I next asked whether they (the title company) found it necessary for both individuals to sign the infamous joint credit borrower signature lines at the top of the 1003. His response was that NEITHER were to sign on those lines of the 1003 as this is designed for borrowers who are applying for JOINT credit & the wife was the only one applying.
The bottom line...it pays to read instructions AND to ask questions.
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