Posted by tmg/Tx on 5/5/09 8:16am
Msg #287287

Two Deeds

Has anyone ever been asked to notarize two deeds for a Lender? I had a closing yesterday that requested two deeds with the legal description attached. I've never been asked for two deeds before, and now I'm wondering if I was supposed to...

Reply by Bonnie T Gray on 5/5/09 8:23am
Msg #287288

I do signings for one company that always wants two deeds signed & notarized and I do that. The only thing I'm aware of here in Missouri is that they should only sign one Note.

Reply by Teresa/FL on 5/5/09 8:24am
Msg #287289

Some companies want two originals of the DOT/MTG so they can retain one in their files just in case the one they send in to be recorded does not get recorded. If that happens, they can send in the file copy (which is an original) and not have to go to the trouble and expense of sending a notary out to have it notarized again.

Reply by MW/VA on 5/5/09 8:35am
Msg #287290

Yes, it's fairly common to sign 2 DOT's. Another company has 2 Notes & 2 DOT's signed, with the 2nd Note clearly marked "certified copy".

Reply by tmg/Tx on 5/5/09 8:42am
Msg #287291

Okay, thanks, I feel much better.

Reply by A S Johnson on 5/5/09 8:58am
Msg #287292

Just a 2nd note.
If this was a Reverse Mortgage, then it is normanl to have 2 DOT/Security Insterment and 2 Notes. One is for the lender and one is for Fanie Mae/Freddie Mac (in case the lender goes under and the government agencies that back these do not get the lender's copy.
And yes, I've seen 2 DOT/Notes in regular packages.
I am a Notary, it is NOT mine to question why. I just watch the doc(s) signed and notarize where needed.

Reply by OR on 5/5/09 11:31am
Msg #287298

Re: Yes two deed and 2 notes are...

Yes two deed and 2 notes are always in a Reverse Mortgage. Hope that helps

Reply by ReneeK_MI on 5/5/09 1:31pm
Msg #287309

Always on r/m ONLY if gov't insured =) n/m

Reply by BrendaTx on 5/5/09 12:44pm
Msg #287304

Re: Two Deeds - I agree, Sid. n/m

Reply by PAW on 5/5/09 2:04pm
Msg #287317

Re: Two Deeds - Clarification on RM's

>>> One is for the lender and one is for Fanie Mae/Freddie Mac (in case the lender goes under and the government agencies that back these do not get the lender's copy. <<<

The first note is always in favor of the lender.

The second note is in favor of the Secretary of HUD.

As others have said, this is only true in government backed/insured RM products. Bank (and private investor) funded RM's typically only have one Note/Security Instrument.

Reply by Jim/AL on 5/5/09 12:26pm
Msg #287302

A couple companies require 3 DOT/Mortgage..pita n/m

Reply by doglover/CA on 5/5/09 2:34pm
Msg #287321

Re: A couple companies require 3 DOT/Mortgage..pita

That sounds like the Chase loan packages I have worked with lately. They have 3 DOT and 2 Notes.

Reply by John Schenk on 5/5/09 9:03pm
Msg #287366

Don't know of any limit to them in Texas. I'm just notarizing their sigs. I don't really care what they sign. LOL

JJ