Posted by John_NorCal on 3/13/07 8:47pm
Msg #179770

Question on returning docs

Have many of you have been contacted by a borrower after a signing and been told not to send the docs back because they had an issue with the loan, etc.? If so how did you handle it? Had that happen to me once, it didn't really matter because I wasn't able to ship docs out until after the week end anyway, and by then they had their issue resolved. But what would you have done in any case?

Reply by TheBest/PA on 3/13/07 8:57pm
Msg #179772

We are to follow the instruction of the company that hired us. In that situation I would have to return the docs to the title company and inform the title company of the BO's request. In this state the BO has a three day right of recission so that gives them time to hash it out. My job is to witness the signatures. Does this seem right to you?

Reply by Roger_OH on 3/13/07 9:00pm
Msg #179774

After I leave the BO's home, the docs are as good as dropped. I would tell them, at that point, to discuss the issue with their LO, and if they don't like his response to use their RTC.

Reply by cntrlcalntry on 3/13/07 8:58pm
Msg #179773

I would send them in.. RTC..... n/m

Reply by CaliNotary on 3/13/07 9:01pm
Msg #179775

I'd tell them that I don't have the authority to do that, and remind them of the RTC period. If there is no RTC I'd leave that part out obviously. And for anyone not comfortable enough saying this to the borrower, there is always "sorry, I've already dropped the docs with Fed Ex".

If you got docs signed and didn't return them, you're pretty much guaranteeing that the company will never use you again. And I'm sure not going to screw up MY income because the borrower is second guessing a decision they made.

Reply by John_NorCal on 3/13/07 10:01pm
Msg #179788

Re: Question on returning docs - to the legal beagles

Sounds right to me. But just to play the devils advocate, when taking an assignment, have we taken on an agency agreement requiring us to act in the borrowers interest. Not speaking as a notary public but as a signing agent.

Reply by BarbaraL_CA on 3/13/07 10:11pm
Msg #179789

re: devil's advocate...

As previously mentioned, we have a contract with the agency - but I would think that to act in the borrower's interest is limited to them understanding the loan docs. Anything beyond that would constitute UPL (I would think)

Reply by Susan Fischer on 3/13/07 10:27pm
Msg #179793

Re: re: devil's advocate...maybe Carolyn B will chime in.

I consider docs dropped once I'm out the door. If RTC, then they need to use it. If not, they need to call their LO, then perhaps their lawyer. Any 'do-overs' are on them.

Cheers!
Susie

Reply by Larry/Ca on 3/13/07 10:50pm
Msg #179800

Would you refuse....

their request to cancel the signing if they caught you just before you drove off?

Reply by Susan Fischer on 3/13/07 10:57pm
Msg #179801

Yes. I am not the vehicle by which they rescind. But I

would be on the phone to the LO/SS/Anybody PDQ, and, if necessary, have another authority explain why I had to take the docs. We don't leave docs at a no-sign either.

Reply by Carolyn Bodley on 3/14/07 9:58am
Msg #179843

Re: how did I get involved in this?

During the signing, if they have problems with the docs, I tell them to contact their LO. If they choose not to sign, I take all copies, including BOs, with me -- leaving them nothing. To my knowledge, I've never had BOs immediately change their mind once docs were signed. I've had them tell me after they've signed, but still at the table, that they will probably take advantage of the 3-day RTC and want to make sure I'm going to get paid if they do cancel, but have never been contacted telling me to not send the docs -- and even if I was contacted, I would tell them that it was out of my hands and to contact their LO.

Reply by Susan Fischer on 3/14/07 4:08pm
Msg #179917

Re: how did I get involved in this? - You're not, really.

I only mentioned you because I thought you might want to chime in in response to John's post: "Sounds right to me. But just to play the devils advocate, when taking an assignment, have we taken on an agency agreement requiring us to act in the borrowers interest. Not speaking as a notary public but as a signing agent."

Because he brought up 'agency agreement,' I thought perhaps you might share your opinion, being an attorney.

There was an interesting discussion a while back dealing with the question of "agency" because the term Notary Signing Agent may imply that we are agents of the lender.

I certainly didn't mean to "involve" you, and apologize if I was minunderstood.

Cheers!
Susie

Reply by Carolyn Bodley on 3/14/07 4:32pm
Msg #179923

Re: Not now nor have I ever been an attorney ....

working with them for over 20 years has rubbed off on me in certain ways, but definitely no UPL or shingle hanging out

Reply by Carolyn Bodley on 3/14/07 4:39pm
Msg #179925

Re: Not now nor have I ever been an attorney ....

Now that I've said that, you are probably referring to the attorney in California (?) whose name is Carolyn but goes by something else right

Reply by Susan Fischer on 3/14/07 7:18pm
Msg #179957

Re: Not now nor have I ever been an attorney ....

Yes, Ma'am, I must be - please accept my apology. My old brain...I should have double checked.

Reply by JanetK_CA on 3/13/07 10:37pm
Msg #179795

Re: re: devil's advocate...

I would agree. And I think it's possible that the lender could take legal action against the NSA for NOT returning the docs. They are, after all, the lender's property, not ours or the borrowers'.

Reply by Susan Fischer on 3/13/07 10:45pm
Msg #179798

<nodding in agreement> n/m