Posted by Rachel/ORWA on 9/22/07 12:25pm
Msg #212591

A small vent: Multiple copies in package.

I have a signing today in which there are 5 copies of the Consent for Release of Information to Soc. Sec. Admin. and 5 copies of the Addendum to Loan Application (disclosures), all for one borrower. I suppose it would be UPL determine if some are "extras," so I guess he will be completing all of them.

On the other hand, there's only 1 copy of the RTC. Arrrgh.

Reply by Ernest__CT on 9/22/07 12:28pm
Msg #212592

Yes, it would be UPL.

A pet peeve is that some companies put only one copy of the Right to Cancel in edocs and expect the Notary Signing Agent to find that one page among 110 others, then print multiple copies of the RTC. (Yes! I do it!) grumble, grumble....

Reply by LC/AZ on 9/22/07 1:41pm
Msg #212601

Re: Yes, it would be UPL.

I had a signing yesterday, where, the docs were sent to the Borrowers. There was only 1 RTC in the Loan packet. As we all know, each Borrower gets 2 signed and executed copies. Thank God they had a copy machine. Although, I didn't have to print e-docs, I, still, hate it, when, docs go to the Borrower/s. I like to review everything in advance. Makes for alot less stress.

Reply by CopperheadVA on 9/23/07 7:32am
Msg #212661

Re: Yes, it would be UPL.

PAW has told us that there is no requirement for the borrower's copies to be executed (according to Reg Z or whatever it is called). Sometimes the lender includes specific instructions that the borrower is to sign their copies of the RTC.

Reply by sue_pa on 9/23/07 8:20am
Msg #212662

interesting

UPL to determine that these are extras and not to be signed but not UPL to add copies of a document (RTC)

Reply by LC/AZ on 9/23/07 9:00am
Msg #212666

Re: interesting

Well, right before the actual RTC, there was another document which stated:

IMPORTANT

Instructions for completing the Notice of Right to Cancel Disclosure

Closing/Signing agent must initial the boxes indicating the following items were reviewed with
the borrower(s) and confirm that the borrower(s) were provided with complete copies.

There were several boxes to be initialed by me, but this one, in particular, is the one I submit to you, as to why, I felt I needed to make copies for the borrowers:

Provide each consumer, who has an ownership interest in the dwelling to be encumbered (subject property) with two copies of the completed Notice of Right to Cancel.

At the bottom of the form, it, also, states: An incomplete or incorrect "Notice of Right to Cancel" disclosure WILL cause delays in the funding of the loan and may result in a 5 pt. performance penalty, which may affect your continued eligibility as a service provider of...........

Also, on the actual RTC, at the bottom, where they sign, it states: On the date listed above, I/We, the undersigned, each received Two (2) completed copies of the notice of the Right to Cancel, in the form prescribed by law, advising Me/Us of My/Our right to cancel this transaction.

So, since there weren't enough copies in the packet for the borrowers, whose responsibility was it to provide them? What say ye?

Reply by LC/AZ on 9/23/07 11:47am
Msg #212671

Wanted to add..........

"Provided with complete copies"

Wanted to add that "Complete" to me means the blanks (Signature lines) are filled in. As someone stated, this may be a Lender requirement, and not Reg Z law, but I was acting on the instructions for completing the Notice of Right to Cancel Disclosure.

Reply by CaliNotary on 9/23/07 9:24pm
Msg #212727

Re: interesting

"So, since there weren't enough copies in the packet for the borrowers, whose responsibility was it to provide them? What say ye?"

It's not our responsibility, it's the lender's responsibility. We don't prepare the docs, we can't be held responsible for their contents. There's certainly nothing wrong with us making the extra copies, but if it's out of your control, it's out of your control. Nothing worth getting stressed out about.

Reply by BrendaTx on 9/23/07 9:35pm
Msg #212730

Re: interesting - totally agree about that, Cali

**It's not our responsibility, it's the lender's responsibility. We don't prepare the docs, we can't be held responsible for their contents. There's certainly nothing wrong with us making the extra copies, but if it's out of your control, it's out of your control. Nothing worth getting stressed out about.**

The financial health of all concerned in the transaction cannot be dependent on the lowest link in the chain. I don't understand why people try to take on so much responsibility for things. It's good to be conscientious, but...there's enough stress in my world without me grabbing for someone else's. (Is "else's" the correct way to write that? I can't think. I'm beat. I have been cleaning house since Friday evening...it was just time to bite the bullet and get that "spring" cleaning done. LOL.)

Reply by LC/AZ on 9/24/07 8:33am
Msg #212752

Cali & Brenda

So, Cali & Brenda, are you saying when the Lender has not provided enough copies of the RTC, it's not our concern, even though, in this particular case, I was to initial a box that stated: I, Closing/Signing Agent, provided the Borrowers, each, with 2 copies? I have been thinking about this, and wondering, if the Borrrowers had not had a Printer/Copier, what would I had done? Run to Kinkos and make copies for them? And, I answered myself, and said, "NO WAY!" Not unless I was compensated for the extra work. But, I have to tell you that just about everytime I receive e-mailed docs, there are never enough RTCs supplied for the Borrower/s. I, always, have to print extras. Are you guys saying you don't do this? I do value your opinions, as you, two, provoke me to much thought!

Reply by LC/AZ on 9/24/07 9:56am
Msg #212765

Re: Cali & Brenda

Okay, I reread your posts. I guess you meant, since, Docs were mailed to the Borrowers, I would not be responsible for providing the copies for them. It was up to the Lender to do that, and as you said, out of my control. So, just don't initial the box stating that Closing Agent/Signing Agent gave the Borrowers, each, 2 copies?