Posted by Scott on 8/1/09 12:36pm
Msg #298345

Simple questions

Hello,
I just did my first signing last night, I have a couple of questions I would like to ask.
A.) I was required to make to copies of the mortgage I had the client sign both copies. I left the second copy with the client, should this second copy be fedexed in? If so do I just leave them a copy of the resend option?

Reply by Cam/CA on 8/1/09 12:49pm
Msg #298346

As a rule you are required to make a copy of the whole package for the borrower. The borrower will only sign the lender's copy not their own. There are some companies that require you to make 2 copies of the Mortage/DOT for them, both copies need to be signed and returned with the package.

Reply by Shoshana Roller on 8/1/09 12:52pm
Msg #298347

You are also required to execute 2 copies of thes right to cancel for each borrower.

Reply by Shoshana Roller on 8/1/09 12:54pm
Msg #298348

Sorry, I meant to say:

You are required to leave two executed copies of the right to cancel for each person who is on title.

Reply by Doris_CO on 8/1/09 1:16pm
Msg #298349

Yes, as others have said, you need to retrieve the signed mortgage and FedEx it to whomever you sent the docs to. You should also have had three copies of the RTC form in the loan package for each borrower on the loan. Each borrower signs all three copies. You keep one copy for each borrower and leave the other two copies for each borrower with them. You should have also made an extra copy of the unsigned docs and given those to the borrower before you left that evening. Before you accept any more loan signing assignments, you need to learn more about what you are doing. Read message 33325 and all of the added comments attached to that message. Also, I recommend the TSR Professional Skills Training Guide which is sold here on NR.

Reply by CopperheadVA on 8/1/09 1:46pm
Msg #298350

Just to clarify on what Doris said, the RTC is to be signed by all persons who are on title to the property. All persons on title may or may not be "borrowers" on the loan.

For example, husband and wife own the property together. Only the husband is on the loan. Wife would sign RTC but not the Note. There should be a total of 4 copies of the RTC left with the signers (husband and wife receive two copies each).

As an owner of the property, wife would also sign the TIL and the DOT/Mortgage (plus any riders). Here in Virginia, wife would also sign all the docs from the title company as well, but that's the TC's call (usually the non-borrowing spouse's name is printed on all the title docs). There may also be a few other docs in the package that the lender wants the non-borrowing spouse to sign (such as Compliance Agreement) - if so, their name is usually pre-printed on those docs.

I agree with the others that if Scott was asked to make a second copy of the DOT/Mortgage and have it signed, then he was supposed to send that second copy back with all the other signed docs. The signers get one complete (unsigned) copy package, and we aways have to check to make sure the required number RTC's are in the copy package because the lenders do not always put enough copies in there.

Reply by A S Johnson on 8/1/09 1:56pm
Msg #298351

Scott, Where are you in TN?
If you are close to Memphis, you might get in touch with Kathy Postom, The Signing Registry.
It seems you should get some good intruruction in signing.

Reply by TulsaNotary on 8/1/09 3:05pm
Msg #298356

Scott, congratulations on your first job--we've all been there!

You did a bit too much work. Although you always print two complete sets of docs (one to have signed and notarized and sent back to the company that hired you--per their instructions, and the other to leave UNSIGNED with the borrowers).

If borrowers want to have their own copy signed, you can do it if you have time OR want to; but CHARGE THEM FOR IT. That always makes them change their mind. And, if they want you to notarize THEIR COPIES, remember that as a notary public you CHARGE to notarize forms. Whatever dollar-amount your state allows is what you charge the borrowers to notarize the few papers that need will have notarial language on them.

The advice about taking Signing Registry training is a good idea. The more you can learn the more pleasant the job is.

I wish you well!

Reply by PAW on 8/1/09 8:10pm
Msg #298376

Sid, Kathy's last name is Poston (with the letter N, not M) and she is nowhere near Memphis. She lives in Saltillo, MS, about 150 miles away.

But your suggestion about the Signing Registry Training Manual is an excellent one.