Posted by Mung/CA on 1/29/07 11:36pm
Msg #173234

Survey. need input..........

How many of you have the borrowers initial EACH page of the DOT whether there are lines for initials or not? I personally do this. I had a call from a client today telling me that isn't necessary unless there are initials lines because that's considered "altering the docs." Your opinions.................TIA!

Reply by jojo_MN on 1/29/07 11:57pm
Msg #173235

I used to have them initial each page also. Most lenders say that as long as you have them iniitial within the borders of the document, it is okay; however, I had two companies tell me that they do not want them intialled unless there are lines for them or I will have my fee reduced. I no longer have them initial unless there are lines.

Reply by christiSocal on 1/30/07 12:03am
Msg #173236

I only have them initial the DOT if it asks for it. BTW your carne asada is FANTASTIC!!! Thanks...

Reply by Joan Bergstrom on 1/30/07 12:36am
Msg #173237

Its called over signing!

Don't do it: have the borrower(s) sign, date, initial, only where they are required to.

Reply by Tess/ME on 1/30/07 9:38am
Msg #173276

Re: Its called over signing!

I had a "new" signing service that I did a closing for a few weeks ago that sent instructions which read "be sure to have borrower initial every page that does not require a signature". Now, not one page had an initial space at the bottom. So, how would you have handled this one?
I know......call the SS that hired you and ask them to explain themselves, right?

Reply by christiSocal on 1/30/07 1:56pm
Msg #173315

If they ask for it, I just do it.

The signings I've had that ask for this have never had inital lines at the bottom. Just a weird querk of some companies...

Reply by christiSocal on 1/30/07 1:56pm
Msg #173316

If they ask for it, I just do it.

The signings I've had that ask for this have never had inital lines at the bottom. Just a weird querk of some companies...

Reply by Susan Fischer on 1/30/07 12:51am
Msg #173238

When borrowers initial each page I present, it is a

protection for the borrowers that confirms each page in the File (think Contract) that I return was physically acknowledged as available to read, and presumably read and agreed to. The Three Day Right of Rescission allows the consumer to actually examine the documents they signed, where applicable.

Personally, every page ever presented to me, in any such transaction, either contains my initial or I presume it wasn't among the documents presented, and I cannot attest that it was part of the deal, and neither can the presenter.

Therefore, I have borrower(s) initial every page I present, because it is the only way I have to be honest about what I actually presented and passed through the borrowers' hands.

I have never had a 'call back' regarding initials on presented documents in over four years.

Cheers!
Susie

Reply by Joan Bergstrom on 1/30/07 1:17am
Msg #173239

No, you probably haven't had a call back

Here is the way it works in our loan signing industry: If you forget to get a signature, stamp/etc on a document that must be notarized you are required to go back to the borrower and get the document notarized because we (notary( made a mistake.

The documents that don't get signed correctly (and don't get notarized) the lender/title company sends them to the borrower(s) via FedEx/etc with a returned envelope to send the documents back.

Don't ever assume because no one has called you back that you got a loan signed incorrectly.

What probably happened is the company "won't call you again" and you will never understand why?

This initializing every page is the worst advice any loan signer could follow!! I guess the next worst advise would be to "highlight all initials/dates/signatures of borrower(s).

This is also a great way to not get rehired

Reply by Susan Fischer on 1/30/07 10:45am
Msg #173287

Joan: Maybe things have changed over the years. I learned

this practice from my own purchases/sales/refis at the table at title companies, and use the explanation given me, which made sense.

Of course, if instructions say otherwise, I follow instructions, and, of course, would never "highlight."

I enjoy a large book of business, with many repeat clients and borrowers alike, but appreciate your point of view.

Cheers!
Susie

Reply by christiSocal on 1/30/07 1:20am
Msg #173240

Re: When borrowers initial each page I present, it is a

I've only had a couple companies ask for that. Oddly it's only companies that also ask for blue ink. I understand why you have the borrower inital all, but I have had instructions NOT to do that and since I don't like to do extra work .(ok, call me lazy) I only do what I'm told. Of course thats assuming it's legal!

Reply by ZeeCA on 1/30/07 1:32am
Msg #173241

It can also make you look like an over eager newbie JMO n/m

Reply by Mung/CA on 1/30/07 1:51am
Msg #173243

Interesting responses. I've done 327 signings to date and..

this is the first time somebody mentioned this to me. Back in 2005 when I first received my commission this is how I was trained. I will not be doing that for now on (unless of course it's asked for). What a waste of time! Thank you everybody for your responses!

Reply by kate_nortca on 1/30/07 9:13am
Msg #173272

Re: Interesting responses. I've done 327 signings to date a

Have to say the same that there is no need. I'm not sure why you would unless specifically told to do so. I don't think it is a good use of our time either and I have been warned before by loan officers and signing services to have the borrower sign ONLY where indicated. I'm even wary of post-it notes telling me to sign where the documents don't seem to indicate the borrower should.

Reply by Mung/CA on 1/30/07 1:53am
Msg #173244

Glad U enjoyed it Christi. Now you're making me hungry. n/m

Reply by ewing2surf on 1/30/07 3:19am
Msg #173247

Re: Glad U enjoyed it Christi. Now you're making me hungry.

Altering Docs... sounds good.  I used to read posts by someone who EMBOSSED each page.  I haven't seen any postings from her lately, her hand must be in a permanent cast by now.

Initialing every page, highlighting, signing the borrowers copy, embossing every page, crushing out your cigarette before knocking on the borrowers door, wearing a business suit with a red power tie, forcing the borrower to sign a disclaimer before you will start the signing, choosing a dirty white jacket-jeans-a low cut blouse and sneakers as the wardrobe of choice, 1 hour late an no phone call. dating every page for the signer, completing the acknowledgment and the jurat before the borrower signs the document, explaining the right to cancel first... anyone think of any more?

Reply by Ndwa on 1/30/07 1:19pm
Msg #173310

Good one Joe... n/m

Reply by Joan Bergstrom on 1/31/07 12:07am
Msg #173365

Great Response

Joe
It really brought back all the nonsense that loan signers have thought the correct way to sign loan documents over the years.

You have helped so many new loan signers over the years!
Thanks
Joan