Posted by GF_CA on 6/16/07 4:59pm
Msg #195511

I received a package today from another notary

(was a split signing) fedex delivered late so I decide no to open it and go to my appointment. In the package there was not copy for the borrower. Do I suppose make a copy for him? I left a RTC form. well... I guess the SS can email

Reply by NCLisa on 6/16/07 7:09pm
Msg #195526

In a split signing, as far as I'm concerned, only one party gets a copy of the docs. It is the first party that signs.

If you feel your borrower gets a copy, then it is up to you to make the copy. Why would you expect the first notary to make a copy for their borrower and yours?

Reply by Linda_H/FL on 6/16/07 8:08pm
Msg #195540

Re: Respectfully disagree

"In a split signing, as far as I'm concerned, only one party gets a copy of the docs. It is the first party that signs. "

I believe all parties with an interest in the property are supposed to get a copy of the legals (RTC x2, TIL, HUD, Itemization, Mortgage/DOT, Riders, Note if applicable, etc). Copies of at least those documents should have been provided to both parties, and yes GF you should have provided adequate copies to your signer IMHO

Reply by Ernest__CT on 6/16/07 8:37pm
Msg #195541

I'm with Linda_H/FL n/m

Reply by GF_CA on 6/16/07 8:54pm
Msg #195543

Re: I'm with Linda_H/FL

Well...like I said before, TC will email to borrower. I never done a split signing where the docs were sent to me by another notary, and, the agreement with SS was without printing fee. Thanks for your response

Reply by Linda_H/FL on 6/16/07 9:05pm
Msg #195544

Re: Then someone dropped the ball -

you should have been advised what you were supposed to do - and by not delivering certain disclosures at the time of signing may have put the loan in violation of Regulation Z:

" (3) The consumer may exercise the right to rescind until midnight of the third business day following consummation, delivery of the notice required by paragraph (b) of this section, or delivery of all material disclosures,48 whichever occurs last. If the required notice or material disclosures are not delivered, the right to rescind shall expire 3 years after consummation, upon transfer of all of the consumer's interest in the property, or upon sale of the property, whichever occurs first. In the case of certain administrative proceedings, the rescission period shall be extended in accordance with section 125(f) of the Act.

48 The term ``material disclosures'' means the required disclosures of the annual percentage rate, the finance charge, the amount financed, the total payments, the payment schedule, and the disclosures and limitations referred to in Sec. 226.32 (c) and (d).

If it comes to down to it the borrowers could, feasibly, cancel the loan within the first 3 years instead of 3 days, all because someone didn't ensure the proper procedure was followed. MHO

Reply by Linda_H/FL on 6/16/07 9:06pm
Msg #195546

Re: Then someone dropped the ball -

P.S. and I don't believe e-mail after the fact qualifies as "delivery" of the notices - though I'm probably wrong on that point and fall on my proverbial sword to those who know better.

Reply by NCLisa on 6/16/07 9:41pm
Msg #195549

Re: Then someone dropped the ball -

(c) Timing of disclosure--(1) Disclosures for certain closed-end home mortgages. The creditor shall furnish the disclosures required by Sec. 226.32 at least three business days prior to consummation of a mortgage transaction covered by Sec. 226.32.

Consumation is the day the loan docs are signed.

Now how often does the above happen?

Reply by Linda_H/FL on 6/16/07 9:47pm
Msg #195550

Re: Then someone dropped the ball -

Is the consummation the end of the 3-day RTC?

Reply by NCLisa on 6/18/07 8:59am
Msg #195617

Consumation is the date of signing. n/m

Reply by NCLisa on 6/16/07 9:05pm
Msg #195545

Re: Respectfully disagree

I do not, and will never provide copies of partially executed documents. If I am the second notary, either the lender needs to provide "blank" copies for me, or the TC needs to send the 2nd borrower fully executed copies after the closing.

Reply by Linda_H/FL on 6/16/07 9:07pm
Msg #195547

Re: Respectfully disagree

Why is there a difference between providing "partially executed copies" and unexecuted copies, which we provide all the time.

Reply by KimK/pa on 6/16/07 10:29pm
Msg #195555

Split Signing question

When you are the second notary, is it pretty much the standard that the 2nd borrowers copies are not included in the package?

I had a split signing where the docs were delivered to the 2nd borrower's home, with no copies. Yes I made copies for them. Just wondering if this is usually the case.

Reply by Stamper_WI on 6/17/07 8:51am
Msg #195568

First for me on this

I had a signing with a TN husband at the military base here. His wife is in TN. I was told to make copies of only the RTC, TIL, HUD and other primary doc's. The remaining title doc's, e&O etc were not copied. I also did some loose acknowledgements with the WI language on them.
He told me she was signing the same day.

Reply by Stamper_WI on 6/17/07 8:52am
Msg #195569

Re: First for me on this

It was like a non borrowing spouse set of documents he got copies of. Dowager Doc's

Reply by snoopdogMs on 6/17/07 4:12pm
Msg #195585

If second notary

To Kim K/pa. If you were the second notary and the docs were sent to your borrower, how did you make a copy for them? Just curious.

Reply by KimK/pa on 6/17/07 7:19pm
Msg #195588

Re: If second notary

I went home and copied them. I was very close to home, so it was not a problem. That is why I am asking, I dont want to run into this again and be farther away from home. I should have called back wanting more for a print fee, but I didnt. Lesson learned.

Reply by Dorothy_MI on 6/17/07 9:03am
Msg #195570

If I am the first notary

I ask my signer, do you want the copies or do you want me to forward them to the second signer? Of course I always make sure there are copies of the RTC to go to second signer.

Reply by CopperheadVA on 6/17/07 8:57pm
Msg #195596

Re: If I am the first notary

I was the first notary in a signing last week. I signed the husband. Unbelievably, when I asked the gal at the TC if she wanted me to print some extra copies of RTC for when the wife signed later, she told me no, not necessary because wife would just sign the same RTC! I tried to tell her that my understanding was that wife would have to sign her own RTC with new dates (initialed upon date change of course), but she insisted that was not the case. Whatever. I provided extra copies of RTC anyway and since the package was going back to TC before sending to the 2nd notary, I let them worry about providing extra copies of any other docs for wife.