Posted by JenCA on 9/13/07 1:42am
Msg #210701

HELP!!!! Missing Note from Package...

Ok, so I am doing a World Savings Loan tomorrow, and I am utterly confused... it is a first deed trust... should there be a Note? I have been searching the entire forum to hopefully find some answers but I have yet to, and I am searching this document high and low and do not see one. TIA for any and all help.

Reply by christiSocal on 9/13/07 2:27am
Msg #210702

I'd call hiring party in the morning and ask.

Reply by JenCA on 9/13/07 2:35am
Msg #210705

Thanx Christi...

glad to see I'm not the only one awake!!!

Reply by christiSocal on 9/13/07 2:36am
Msg #210706

Glad you found it

I keep telling myself to start going to bed earlier, but I'm a night owl. Just can't help it...

Reply by JenCA on 9/13/07 2:27am
Msg #210703

FOUND IT!!!!!

After going through it about 10 times... It says Fixed Rate Mortgage Note instead of just Note!!! Sheesh... goodnight All!!!

Reply by JohnnyB on 9/13/07 8:19am
Msg #210716

Should there be a note? Oh my God!!!

Reply by CJ on 9/13/07 10:12am
Msg #210729

Should everyone rip her apart too for being "clueless"? n/m

Reply by firegirl on 9/13/07 10:33am
Msg #210733

at least she knew what a note is....

and that there 'should be' one, even though it was called something other than just a 'note'. Asking questions is how you learn. And she did try to search for the information first.

Jen--if you get a HELOC (home equity line of credit) the note is usually called something like 'home equity line agreement and disclosure' also there will not usually be a TIL (truth in lending). If you close on an investment property there will not be RTC's.

Just telling you these things so if you see them in the future you don't panic...

good luck.

Reply by Kathy/ID on 9/13/07 10:36am
Msg #210734

Re: at least she knew what a note is....

This is good information to know. Thanks for sharing it

Reply by Becca_FL on 9/13/07 12:06pm
Msg #210751

Re: at least she knew what a note is....

I'm astounded that there are "professional," "certifed" NSAs and "Real Estate professionals" that do not already know this about a HELOC.

"This is good information to know. Thanks for sharing it"

If you're just learning this information this late in the game, there are more out there flying by the seat of their pants then I thought. Talk about elementary. No wonder so many SSs get away with paying low fees...just look at the mentality of the so called professionals they are dealing with. Unreal.

Reply by Kathy/ID on 9/13/07 1:28pm
Msg #210765

Re: at least she knew what a note is....\Becca

I have seen the document in question so I do know that the document was named that I was only saying thank you. I know I am a fairly new signing agent but I was a Realtor for 1.5 years. I am familiar with most loan packages.

Reply by Becca_FL on 9/13/07 1:58pm
Msg #210782

Re: at least she knew what a note is....\Becca

The most dangerous new SAs that I've met have been realitters. I had one call me yesterday and ask if she was to attach an ack. to the Note.

In my experience, realitters new in the SA game have just enough knowledge to make them dangerous and don't know and won't admit when they don't know what the heck they are doing. They are, after all, "Real Estate professionals" and seem to think that being a realitter makes them an expert on closing loans when, in reality, the only reason the majority of realitters even show up to a closing is to pick up their check.

I think a local developer said it best when he said "Every housewife in the county thinks she can make it big in Real Estate without doing much work." The man that said this had a wife in Real Estate and he said this 2 1/2 years ago when the market was way up. Now it seems every realitter housewife thinks she can make it big being an NSA. Hopefully this trend will die out too.

Reply by JenCA on 9/13/07 2:00pm
Msg #210783

Realtors... sorry it was it was irking me! lol :-) n/m

Reply by Becca_FL on 9/13/07 2:04pm
Msg #210785

No JenCA...it's realitters to give them the respect

they truly deserve in this arena.

Reply by JenCA on 9/13/07 2:12pm
Msg #210788

Re: No JenCA...it's realitters to give them the respect

oh I get it... once again, please forgive me, I just dont think I can handle sarcasm this morning!!!! ****Standing in a corner breathing**** Don't mind me just having an anxiety attack!!!! :-)

Reply by Charles_Ca on 9/13/07 2:56pm
Msg #210808

The term is REALTORs and not all real estate agents are

REALTORS, the term is to be used only for those who are members fo the National Associatin of REALTORS, your State Association of REALTORS and the local Board of REALTORS. REALTORS have a code of ethics real estate agents don't; ehy only have a license. There are many levels of REALTORS and real estate agents with as many levels of intelligence as there are people. Now it seems that each area of business seems bent on denigrating the other and I strongly object to it. So if y'all keep on referring to relitters I may just have to do a notary!

Reply by pan/nd on 9/13/07 10:20am
Msg #210730

Don't be too quick to jump!

Of course, there's a note.

But I just did one the other day where the note and TIL were combined into one doc.

And its title contained neither "Note" nor Truth in Lending.

Took me 3 times through to figure it out.

Good thing I can read when I have to.

Reply by JenCA on 9/13/07 1:31pm
Msg #210768

Ok... Yall have pissed me off!!!!!

First and foremeost let me start by saying this... I truly respect all of the information that is given and taken from this forum... BEFORE asking quesions I ALWAYS search for the information. Now as far as me asking should there be a note... I second guessed myself because it wasn't in the "standard" wording that I usually see it in. I am nowhere near a veteran, and have never claimed to know it all, but what in the world is wrong with asking a question and if you guys had seen "I FOUND THE ANSWER ON MY OWN!!!!!"

But you "VETERANS" are so quick to jump down somoenes throat for asking a simple question... maybe information was skimmed over, maybe they had a brain fart... damn... I'm sure you ask questions too, or second guess yourself at times!!!! Just sometimes put the shoe on the other foot before being so quick to yell "Newbie", or "How dare they come on here asking questions" or "They should have known" and all that other mess!!!

I'm sorry for ranting, but I have had a hell of a morning, and to see this just really set me off...because I never ask for or expect handouts I always try on my own, but there is nothing wrong with asking for assistance if you cant find something.

Once again, sorry if this comes off unprofessional, but at this moment I felt it needed to be expressed!

Reply by Linda_H/FL on 9/13/07 1:46pm
Msg #210774

Re: Ok... Yall have pissed me off!!!!!

I believe the post you're referring to was addressed to Kathy/ID, not you, who gave the impression that she'd just learned new info regarding the appearance of a Note in a HELOC...everyone else seemed very impressed with your at least realizing something MAY be missing and researching it...and finding it on your own...

Kathy, I'm sorry but I have to say that IMO 1.5 years doesn't teach you "most loan packages" - it may have taught you what you needed to list and sell properties, but learn most loan packages? I doubt it...if so, then you should have known about the HELOC note..you basically admitted that information was new to you and that's what was what initiated the responses - and rightfully so.

JMHO

Reply by Kathy/ID on 9/13/07 1:53pm
Msg #210777

Re: Ok... Yall have pissed me off!!!!!

This is the last I am going to say on this subject. As I have already mentioned I am fairly new to being a signing agent. I understand where you can say being a Realtor does not teach you much about the loan packages but I did ask a lot of questions and did learn a lot about the packages. Since I have also had a HELOC before (personally) I did know that the note was not the "standard". I have never asked for something without searching for it first. I may be new but, I do my research on my own before asking any questions.
I was simply saying thank you to the poster, That was all.

Reply by Charles_Ca on 9/13/07 3:09pm
Msg #210814

Re: Ok... Yall have pissed me off!!!!! Actually Kathy, being

a real estate agent (REALTORS are members of the NAR, and State and local Boards, perhpas you are) in many states teaches more about loans than many notaries ever learn but it does not teach specific documentation. In California (I don't know about your State) Real Estate Lending is a mandatory class for the salesmans license. If you have additional designations (I am a GRI and now a Master's candidate) ones knowledge of the lending procedure goes much deeper. However just as many real estate agents don't know every document in the state mandated forms, judging from some of the questions here neither do notaries. I know and admire some of the notaries who post here because of the depth of their knowledge but their level of knowledge is not mandatory to become a notary nor to become a NSA. My experience with notaries has been that many only know enough to really screw up a deal. It really bothers me when members of a community band together to denigrate others in a chain of process that is necessary for all to be successful.

Reply by JenCA on 9/13/07 1:56pm
Msg #210779

Re: Ok... Yall have pissed me off!!!!!

It was actually in response to JohnnyB and CJ... and maybe they were being a bit sarcastic, but again my reply was just a reaction from the horrible morning that I have had, then to get on here and be called "clueless" upset me because I know I am far from it...

Thanks Linda for the response, I promise I a a nice smart girl... I really am!!!! :-)