Posted by snoopdogMs on 7/10/08 9:13pm
Msg #254832

Certification of Confirmation

I close RMs for a particular TC that requests that the borrowers sign but not date this document. The TC does not make it mandatory but suggests that they sign. By doing this, the doc. does not have to be sent back for the signature and I suppose that the TC will then date for the borrower after the Rescission has passed. Comments?

Reply by GA/Atty on 7/10/08 9:25pm
Msg #254834

Sounds like the *Election not to Rescind*.........

Taylor Bean & Whitaker include it in all their loan packages I think.

Many title companies want it signed at closing (and post dated to the disbursement date) and returned with the package.

If borrowers are ok with it after I explain that to them, I have no problem with it. If they are not, I tell them where to send it on the disbursement date.

Reply by Linda_H/FL on 7/10/08 9:44pm
Msg #254837

I've had these in my last three refi's

except my signers were to sign and fax the form back the morning after the rescission period expired....yes, it's their confirmation to the title company that they, in fact, did not rescind the loan. Guess the lender wants to avoid the old "But I sent it in!!" excuse...