Posted by calif/jack on 11/30/08 7:24pm
Msg #270774

right to cancel

received docs with a requiement for the notary to sign as a witness any comments?

Reply by CASS on 11/30/08 7:55pm
Msg #270775

Must be an out of state lender. As a rule, Calif does not require witness signatures since as the notary "you are automatically the witness".

Reply by John_NorCal on 11/30/08 8:45pm
Msg #270777

Not a problem for you. You can witness anything in the package. I haven't had many lenders ask for a witness to the RTC but as long as there is no conflict I don't have a problem acting as a witness for anything in a loan package.

Reply by Maureen_nh on 11/30/08 10:23pm
Msg #270787

NEVER seen that one before.
Sounds like a major CYA, but I would have no problem witnessing it.
I think to CMA, I would make sure that the borrowers two copies each are filled out also, (no blanks left behind)

Reply by MW/VA on 12/1/08 7:58am
Msg #270798

This sounds like a pretty good idea. Is is part of the new RESPA requirements?
Since we are witnessing them sign it, I would see no problem in signing as "witness".

Reply by PAW on 12/1/08 8:19am
Msg #270800

Sign as a witness, not as a notary

Since most (if not all) states do not authorize notaries to act as witnesses unless specific certificates are included, witnessing non-notarized documents should be no problem for the "signing agent". I would have no problem witnessing the signing of the RTC and signing my name as a witness and signing agent, but I would not sign as a notary nor would I stamp the RTC with my seal.

Reply by JanetLA on 12/1/08 9:47am
Msg #270811

In Louisiana we have no certificate so

we can notarize the RTC without any specific requirement. I do know of course that we are probably the exception to the rule. Thanks to PAW for interesting information. I like to read what others are requiring.

Reply by Gary_CA on 12/1/08 11:57am
Msg #270822

I probably shouldn't even think this, much less say it...

This is not legal advice to lenders... and I really don't need another task at a loan signing...

...but your question made me go hmmm...

We all notarize things in some packages that are much much less important than the RTC. And the RTC has that added peculiarity of the date being so critical. There are lawyers running around now doing "forensic reviews" of your loan package to see if the bank made any boo boos 6 years ago. (I kid you not)

Seems like a permanent public record of who signed an RTC and when they signed it would be useful.

Hmmmm....

Reply by PAW on 12/1/08 12:05pm
Msg #270824

Signature not required

Reg Z says that the disclosures need only be provided to the borrowers. It's the lenders who have decided they need proof of receipt. Of course, without physical proof, it may be a bone of contention as to whether or not the stipulations of Reg Z have been met by either party.

I agree, that some type of permanent record could be helpful. Maybe as an attachment to the Mortgage/DOT.