Posted by EagleEye/NJ on 4/11/08 8:59am
Msg #243193

I am NOT the Settlement Agent!

Why do mortgage companies continually think that as signing agents we SHOULD be signing documents meant for a signature by the SETTLEMENT agent. I did not prepare the HUD nor any other documents. I did not prepare any documents in accordance WITH the closing instructions nor did I have anything to do with the figures that are on the Hud. I am not going to sign anywhere it says Settlement Agent! Am I wrong???

Reply by Art_MD on 4/11/08 9:03am
Msg #243194

You are correct !!!!! n/m

Reply by Sharon Taylor on 4/11/08 9:06am
Msg #243197

You are right

Well, they do not think we should, usually. On documents that I know I need to sign, but the signature line has "Settlement Agent" printed under it, I just line through the "Settlement Agent" and print "Notary Public" instead. This might be on an ID Affidavit, for example.

Reply by Dianna Hanson on 4/11/08 9:42am
Msg #243200

Re: I am NOT the Settlement Agent!-CORRECT!

CALL and ASK! Talk to the company that you accepted the assignment from or the "HELP" or "CALL .... if any Questions" number listed in your signing conformation from them. It is usually in the "Special Instruction Section" of your job order. In most cases the 'Closing Transmittal Instructions" are for the "Settlement Closing Agent" in the mortgage or title office to sign off as the loan is processed and disbursed. Never assume that "Settlement Agent" is the Notary Signing Agent.

Reply by Julie/MI on 4/11/08 10:11am
Msg #243204

If you are a recent notary whom now gets signatures on closing documents, than it is you whom must adapt and realize that most loans were closed by the settlement agent not a mobile notary and not get all upset.

I've been in the business since 1983, and don't get all worked up over this stuff, nor should you.

Reply by SReis on 4/11/08 10:50am
Msg #243212

Maybe you should Julie...

I think the orig poster was referring to some co.'s that require us to sign as the settlement agent. I have had many of these requests and always tell them that is not my role. Its not that big of a deal BUT it is something to be concerned about because new notaries who do not understand their role & are signing as "Signing Agents" per ss/tc/lender insistence may be opening up themselves for liability on something they had nothing to do with.

Reply by Dennis_IN on 4/11/08 11:25am
Msg #243217

Re: Maybe you should Julie...

It is "that big of a deal," when you sign as settlement agent you are accepting responsibility for the correctness of the docs. I never sign the HUD as the settlement agent. No matter how much a RE agent whines that they must have it signed to "get the deal booked" in their office. I tell them to contact title. JMHO

Reply by SReis on 4/11/08 11:41am
Msg #243218

Exactly my point Dennis

My "no big deal" comment was more in reference to the fact that if you are a seasoned SA its probably no big deal to you because you would probably know enough not to sign; hence Julie's comment.

However, as I stated, if you DO sign you are opening yourself up to liability.

Reply by claudine osborne on 4/12/08 11:00pm
Msg #243304

Re: Exactly my point Dennis

I would never sign anything that is stating I prepared this or attest the the correctness of this document etc. I do not want to own up to something that is not my responsibility!

Reply by SueW/Tn on 4/13/08 2:53am
Msg #243307

Re: Maybe you should Julie...

I understand what you're saying BUT as an attorney in MA perhaps the LO EXPECTS you to take on more responsibility than a "point and sign" SA. After all, you CAN practice law with your license. Right?

Reply by SReis on 4/13/08 11:10am
Msg #243314

Not the point SUE

Why would I attest to the correctness of a document that I did not prepare. It makes NO difference whether I am an atty or not. Anyone would be a fool to say, Yes this is correct & yes I disbursed funds as you stated when they did not do anyone of the above nor have any knowledge as to the legit of the documents. And, of course, I can practice law but this has nothing to do with that. Maybe you should read the thread over again.

Reply by MichiganAl on 4/13/08 12:01pm
Msg #243322

About three years ago, I lost a big client because of this

I used to do 8 - 10 signings a week for this title company. At first they had a line on the HUD with my name printed for me to sign just as a signing agent/closer. No other wording. I didn't have a problem with it. Then they changed HUDs and wanted me to start signing as settlement agent with the wording that said "I prepared the HUD and swear to its accuracy." No freaking way. Why would I open myself up to that kind of liability? A lawsuit waiting to happen in my opinion. They were p.o.'d. They said the lender wouldn't accept the docs unless the person who handled the closing signed the HUD saying they prepared it. What a load of bull. So of course, they stopped using me and found some idiot who was willing to do it. Hmm, I wonder what the view from their jail cell looks like?