Posted by Gary_CA on 7/16/07 3:44pm
Msg #200106

Grrrr.... a new garbage doc....

Did a signing last week... was still licking my wounds from a boo-boo a couple weeks ago, so I checked, double checked and rechecked again the docs.

A Okay. Off it goes. Wedensday.

Get a call today, I didn't stamp something.

You've GOT to be kidding me, my butt, they put something in... so I called the escrow officer. She confirms... and admits that she fine tooth combed the package and missed it too, but it's real...

Borrower Acknowledgement... that yada yada this is a neg am loan and they realize it and it has a pre-pay and is variable... and their last loan was about the same...

I've seen these lately but Notarized???? Give me a friggin' break.... it's on the TIL, it's on the note, it's on the DOT (complete with my stamp).

If the problem is "my loan officer told me.... so I just signed the 400 pages and the 30 that were notarized." How on God's green earth is notarizing 31 gonna solve it????


I know, I know.... Ours is not to reason why.... rode the 600....


Grrrrrrr.

Reply by MikeC/NY on 7/16/07 7:53pm
Msg #200190

Did it have a notarial block, or were you just supposed to grok that this was a document that had to be notarized? If the escrow officer missed it also, it couldn't have been that obvious.

Reply by Gary_CA on 7/16/07 10:57pm
Msg #200215

I must admit

Yep it had a notorial block... I think both the EO and yours truly were so used to seeing this doc without that we never looked below the signature line.

You know the deal... when you're almost out of gas you see gas stations you never saw before.

It was there, big as life, it just didn't fit into the scheme we have for loan docs.

Happy ending... the lender... not the broker, the folks with the money... are closeby so I hand delivered the correction to the underwriter. He tells me I'm not the first to miss it.

All's well that ends well.

I still believe though that as a general matter of principle we'd be better served by shorter, clearer docs. The "I didn't know what I was signing" argument is not solved by signing a separate sheet for every possible misunderstanding, it's solved by making a contract short, sweet and clear. If a loan package were 10 pages and a purchase contract 2 it'd be awful hard to tell the judge "I just signed what they told me to sign, who can understand all that????"