Posted by rengel/CA on 6/25/09 10:18am
Msg #293533

Your Opinion...

You get to borrower's home, pull out the docs to start signing and you notice that 1/2 of the docs have the wrong address on them. Correct address is 123 Elm Tree Lane and docs show 123 Elm Lane.
You call and email escrow from the table with no response. What do you do?

Reply by Linda_H/FL on 6/25/09 10:27am
Msg #293535

My .02....after hours and no support?

Absent instructions to the contrary (where I'm told if any errors in the paperwork, abort the signing) I'd have them sign - the LTD POA should cover the typo of the wrong street address as should the address and mailing certification that I'm finding in more and more packages. Further, the legal description of the security instrument should cite the correct property. Get the loan signed and put a big note on top of docs in package letting them know the property address is wrong - if it needs to be re-signed it's on escrow and you've saved your signing fee. If you don't get it signed you jeopardize their rate, their doc expiration, etc., etc...

MHO

Reply by CF on 6/25/09 10:53am
Msg #293543

Re: My .02....after hours and no support?

Correct- initial- and move on with signing. I give about 5-10 minutes for a return phone call- and then proceed using my professional judgement. My wait time is dictated by my next appointment....if I am pressend for time I wait about 5 minutes....but never more than 15 minutes tops!

Reply by Linda Juenger on 6/25/09 11:10am
Msg #293549

Re: My .02....after hours and no support?

I've been told in the past that if the Mortgage/DOT address is correct, then it should be a go. That is what is recorded. This is what the Correction Agreement is for also.

Reply by Linda_H/FL on 6/25/09 11:16am
Msg #293551

Should add here...

on the title docs - since they're swearing to the truth of the statements, especially those that say "We are the owners of property located at _________" - I'd have borrowers correct the address and initial the change....

Reply by Richard Goodwin on 6/25/09 11:29am
Msg #293552

Re: Should add here...

I had a similar situation. I had the borrowers correct the address on every doc that I notarized and left the rest alone. Never heard back from title.

Reply by rengel/CA on 6/25/09 12:31pm
Msg #293564

Re: Should add here...

I appreciate your knowledge. The Note, DOT and attachement w/legal description all had wrong address on them. BO did not want to sign for a different address and another signing I did came back because the BO had changed the date on a couple of docs to the date of the signing and title didn't like that. (They changed the date before I realized and stopped them). It seems that each title or escrow company had different rules of whether or not you can correct something and initial or not.
My bad for not making sure I had an after hours contact #, but live and learn.
Thanks for your comments. : )

Reply by Linda_H/FL on 6/25/09 12:47pm
Msg #293568

Re: Should add here...

It's my understanding from my real estate paralegal days that although you can make necessary changes on any other document, you CANNOT alter the Note in any way, shape or form (well, there's ways of correcting it but you need access to the ability to make a new original....<G>... and altering the Note is usually a deal killer right there...

Reply by LKT/CA on 6/25/09 1:09pm
Msg #293572

One signing I had (9pm), half the docs including the DOT had the wife's names as Minnie Mouse Mouse, instead of Minnie Mouse.....I got all the docs signed AS IS without BO making corrections and with a note to the TC, especially on the DOT. Her signature was illegible anyway so it was no big deal. I didn't hear back from the TC and was paid as usual.