Posted by Regal/NC on 12/2/09 6:38pm
Msg #312861

Copy 4 each signer

Have any of you folks ever get instructions requiring a copy of the documents for each signer??

Reply by John/CT on 12/2/09 6:45pm
Msg #312862

Only RTC and TIL n/m

Reply by Richard Ingram on 12/2/09 7:05pm
Msg #312866

Re: Only RTC and TIL

I have many times. Usually involves a divorce or some other dispute.

Reply by Linda_H/FL on 12/2/09 7:14pm
Msg #312868

Yep...just do it and charge accordingly (standard fee is for two printed copies) - additional fee for printing two additional packages in addition to consideration for time at the table.

JMO

Reply by Tess on 12/2/09 7:15pm
Msg #312869

Re: Yes, and they agreed to the extra print fee.

The borrowers thought it strange, and mentioned that they did not want or need the 2nd copy, but that was my instructions, so I left them with the borrowers.

Reply by Jim/AL on 12/2/09 8:10pm
Msg #312877

Yes, one company requires this strange request, Linda I

think you misunderstood, not a purchase (1 buyer & 1 seller set-1 signed set) but on a regular refi. I always check with borrowers and ask do they want two sets, usually answer is no and just print as usual.

Just beware if you do not get their permission their is a doc in the package that they sign that states that each borrower recd. a set of docs.

This is strange and insane...why does a married couple need two sets...tree killers, lol.

Reply by Linda_H/FL on 12/2/09 8:16pm
Msg #312879

Re: Yes, one company requires this strange request, Linda I

No Jim- I knew it was a regular refi - I misunderstood number of copies - thought it was 4 printed sets - but still, original and one for each signer - assuming husband and wife - 3 packages printed = extra $$...

Reply by Jim/AL on 12/2/09 8:48pm
Msg #312881

Extra money, ha,ha. If you knew who this SS is you would

know extra $$ never offered.

Reply by Regal/NC on 12/2/09 9:00pm
Msg #312883

Jim/AL: UR correct abt the doc that states they rec'd a copy

each. My borrowers signed but only wanted one copy.

Reply by bfd110_IN on 12/2/09 9:52pm
Msg #312891

I called the title that required this

I was told that they require this because of RESPA. She said that RESPA states that each borrower should have a copy provided to them. I said is that overkill with married couples and she told me that is what their policy is. Of course she had to put me on hold and ask someone about this.

Reply by Jim/AL on 12/2/09 10:16pm
Msg #312897

RESPA may require GFE for each, but I do not believe that

every other company out there is breaking RESPA laws, IMO this bunch does not have a clue.

Reply by PAW on 12/3/09 8:10am
Msg #312918

Re: RESPA may require GFE for each, but I do not believe that

Title 12, which includes RESPA and TILA, states that disclosures must be provided to each person with an interest in the transaction. This doesn't mean that each borrower must receive a copy of all the disclosures, except in the case of the notice of rescission, which each person needs to receive two copies of the disclosure.

Reply by MW/VA on 12/3/09 8:45am
Msg #312923

Re: RESPA may require GFE for each, but I do not believe that

Another OMG! With the new regs, all the licensing requirements, etc., I am encountering more people than ever that have no clue!