Posted by Elizabeth Holtman on 7/18/09 11:57am
Msg #296383

How Many Signatures on the NOTE?

Last week I did a closing for a Refi. The borrowers signed the note above their printed names, initialed the previous two pages on a lower corner and I notarized it.

Today I received a call from the Borrower telling me that the signing company called them to say the NOTE had not been signed correctly. (No one from the signing company called me.)

The Borrower was told that he and his wife were to have signed all the lines on the NOTE even though their names were not printed below the lines.

I've not encountered this before now. There were not instructions regarding the NOTE and in past jobs, the Borrower/s sign above the printed names.

So what's the story? I checked my books and there is no information on this situation. Am I to have the signers sign every blank line on every sheet of paper in the future?

Any insight will be appreciated.

Thanks.

Reply by MistarellaFL on 7/18/09 12:00pm
Msg #296387

Was there a notary block on the NOTE?

Or did you just stamp it?

Reply by MistarellaFL on 7/19/09 10:06am
Msg #296482

Re: Was there a notary block on the NOTE?

I asked this because of the number of loan clean-up calls I get.
There are many notaries who don't understand the job...and will stamp and sign every single
page of a loan package.
Read Les' comment below...

Reply by firegirl on 7/18/09 12:00pm
Msg #296389

They don't know what they're talking about. It wouldn't be the first time. Those extra lines are for extra borrowers, if applicable. I have gotten calls before about not having the agent's certificate filled out on DOT before. I would ask to speak to a supervisor who knows.

Reply by Jim/AL on 7/18/09 12:05pm
Msg #296392

Never heard of or seen a Note that needed more than one

signature per borrower or one that required notarization, but did not interpret a Nortarial act in the original post. Sounds like lack of knowledge SS/TC.

Reply by Jim/AL on 7/18/09 12:09pm
Msg #296393

Misread, I guess it did say "I notarized", never yet have I

seen a Note that required acknowledgement, but I guess anything is possible.

Reply by PAW on 7/18/09 12:13pm
Msg #296396

Re: Misread, I guess it did say "I notarized", never yet have I

Some Notes in Virginia have a notary statement on it. But it usually doesn't conform to other state statutes because it's not an acknowledgment nor a jurat but a statement that the Note is secured by a certain Mortgage.

Reply by Jim/AL on 7/18/09 12:29pm
Msg #296407

Paul, if it does not conform do you use loose ack.? n/m

Reply by PAW on 7/18/09 12:32pm
Msg #296409

No. I was directed NOT to notarize the Note.

The title company said they would attest that the Note belongs to the Mortgage.

Reply by sue_pa on 7/19/09 7:27am
Msg #296470

Re: Misread, I guess it did say "I notarized", never yet have I

I used to see this when I did Navy Federals. I would refuse to notarize because it certainly wans't my job to make the determination that the Note and Mortgage were tied together. Because I did these for a vendor management company whose employees brains were NEVER allowed to function even close to the edge, let alone outside the box, we had problems because they wanted it notarized every time.

All that said, I'm guessing the original poster and the person she spoke with weren't "sending/receiving" properly.

Reply by BrendaTx on 7/18/09 4:01pm
Msg #296442

For the record, I prepare Notes regularly which require

an acknowledgment. It's not necessary but in commercial loans it it common for whatever reasoning...they like 'em on there. If you see an ack on a note do not assume it doesn't belong there.

Reply by Linda_H/FL on 7/19/09 9:50am
Msg #296479

Re: Misread, I guess it did say "I notarized", ...Jim

I have - had one once - line drawn across lower half of last page with the words "this space for acknowledgment"...that's the only one I've even seen...

Reply by PAW on 7/18/09 12:04pm
Msg #296391

Every note that I've seen only required the signer to sign where their names appeared and initial where it says to initial. Never sign "all the lines" on the Note. (Usually, there only enough lines for one signature of each obligor.)

??? " The borrowers signed the note above their printed names, initialed the previous two pages on a lower corner and I notarized it." ???

You notarized the Note? Was this a VA (as in Virginia) property?

Reply by Elizabeth Holtman on 7/18/09 12:48pm
Msg #296416

Whoops, my error in explaining. No, I didn't notarize the note.

I had them initial the first two pages and sign the third above their printed names. I do remember the extra lines with no print under them. There were no special instructions to have the Borrowers sign each line.

Thanks for clarifying my mistake, Paul.

Since the signing company didn't notify me, I'm wondering if they are trying to create a situation where I won't be paid my full fee. What do you think?

EHoltman

Reply by PAW on 7/18/09 12:58pm
Msg #296420

>>> Since the signing company didn't notify me, I'm wondering if they are trying to create a situation where I won't be paid my full fee. What do you think? <<<

No, I don't think they (the TC) is trying to create something. I think it may be that the person who explained the situation to you didn't do a good job causing a disconnect in your understanding. As you can see from the other replies as well, no one else has ever heard of signing a Note more that once, no matter how many lines or on the signature page.

Reply by MW/VA on 7/18/09 12:30pm
Msg #296408

What a ridiculous request. The borrowers only sign one time each. Who do they have working at these companies these day????

Reply by MichiganAl on 7/18/09 4:31pm
Msg #296444

Only time I've seen it done...

is if the home was in a trust. I've seen the borrower sign twice, once as an individual, once as a trustee. Otherwise, I echo what everyone else is saying. It's a load of bull.

Reply by JanetK_CA on 7/18/09 7:01pm
Msg #296451

Re: Only time I've seen it done...

My thought, as well. However, as you know, that would have been obvious, because they would have been signing multiple times on the DOT/Mortgage as well. And those capacities would likely have been typed under the lines. (If they weren't, why should the notary automatically assume another signature anyway? )

It was probably a request from someone new at the other end - or like someone else said, major miscommunication.