Posted by Riley/FL on 1/11/10 2:41pm
Msg #317576

BofA Loan Mods

This was discussed recently but I am still a bit confused. I have done two of these recently and have one today. I asked the NREIS contacts about the signing of the signature page and some say that if you attach a loose ack, you don't need to sign the sig page, some say do both. What bothers me is some say that in some states, notaries can just sign, date and stamp on the sig page. Are there really states that allow this? As for me, I will not sign the sig page no matter what. Doesn't signing this page make me appear to be a party to the Loan Mod? Since I get conflicting answers from Title, I would like some opinions from some of you who have done these.

Reply by MW/VA on 1/11/10 3:06pm
Msg #317579

As a notary, you are notarizing a signature, not a document.

Reply by Cari on 1/11/10 3:45pm
Msg #317593

yup agree with Marilyn.... n/m

Reply by Lee/AR on 1/11/10 4:25pm
Msg #317605

Is there Acknowledgement/Cert. language right on the Signature Page? If so, what's the problem. Ah, gee, I wish I'd get a Mod so I know what they look like.

Reply by JanetK_CA on 1/11/10 4:32pm
Msg #317608

I just picked up my first of those this morning ('cause it's only 1 mile away), so I know what you're talking about (finally). I looked at their instruction page and said (Whaa....!%&#!!!)

Basically (for those of you who haven't seen this), they have a line that they want signed by the notary, although you can't tell. There is no notary verbiage and nothing that says "notary", just an extra signature line that says
"By ____________"
"Date___________" Then below, someone wrote in "Notary Stamp"

The top of the page says "Example for completion of notary acknowledgment page". I would have ignored this otherwise, except for having the borrower(s) sign it. Personally, I think it may be intended as a signature line for the lender 'cause there's a line above it with MERS (spelled out) typed underneath. What I plan to do is just add a CA all-purpose acknowledgment and leave that line alone.

To me, it would have made a whole lot more sense if they'd just said to notarize this document with an acknowledgment. Simple, end of story. Oh well... we can dream, can't we?

Reply by Riley/FL on 1/11/10 5:17pm
Msg #317617

Yes, Janet, that is exactly what I'm talking about. The one's BofA sends to the borrower but doesn't include instructions to get them notarized. So they sign them, send them back and a week later a notary appears at their door. I ask about it because from what they tell me, some notaries are signing and stamping the sig page. I going to assume there are alot of these in the pipeline, I'll do them all day long if I can get the TC to get the fact that we don't just sign and stamp.

Reply by Cam/CA on 1/11/10 6:21pm
Msg #317634

The ones I've had included loose CA acknowledgements, I could have stamped them with my Ack stamp as there was room and not filled in the loose certificates I supose.

Reply by desktopfull on 1/11/10 9:04pm
Msg #317667

I guess they didn't send you the preclose instructions.

The preclose package has a page with their instructions. Here is what the page says:

Example of completion of notary acknowledgment page.

The Lender and I have executed this Agreement.

Leave Blank the line for MERS, Borrower signs top line on right, then dates and if there is a co-borrower they sign and date below the borrower, where it says By: they want Notary name and then the date and below that they are asking for your seal.

Since this would not be legal for a notary in Florida and they are stating on the heading of this instruction page "Example of completion of notary acknowledgment page," they are clearly requesting an acknowledgement. I fill out a proper Florida acknowledgement form and attach it to the page.

I like these mod closings usually 8 to 12 pages, overnighted to borrower, never more than 4 miles from my home, in and out in 10 minutes or less and no fax backs.

Reply by Art_MD on 1/11/10 7:37pm
Msg #317650

In MD you can sign as an official wittness.
No notorial wording needed.
Sign, date, stamp


Art

Reply by Linda_H/FL on 1/11/10 7:43pm
Msg #317651

We can't do that here...

We can witness - no stamp....or we can notarize, with stamp....but if there's no notarization, there's no stamp.

Reply by Jodith/WA on 1/11/10 9:56pm
Msg #317681

Re: We can't do that here...

I think that's how it works in WA, too. At least, there's no info in the law or the associated Rules that says we are allowed to witness without an acknowledgment. If I'm stamping something, it gets the required notarial acknowledgment language.

Personally, I'd probably write the language in, sign it and stamp it below the borrowers signature.

Reply by JanetK_CA on 1/11/10 10:08pm
Msg #317684

Like in FL, in CA, no stamp allowed without notarial wording - and it needs to be on the same page.

Looks like the one I have in the morning is the same situation someone else mentioned. The borrower already returned the documents 'cause someone told him it didn't need notarizing. Sounds like a few somebodies need to get a clue - and get their acts together on this. The scheduler who called me on this had no idea what was going on with the documents. He was unsuccessfully trying to make some sense out of the very confusing instructions. So I guess I have to print a new set of originals after all. Would be nice if someone had sent them to me! At least I have the time difference working in my favor here..

Don't you love this business??!!

Reply by Art_MD on 1/12/10 5:24pm
Msg #317780

Maryland notary as official witness

How does a notary public act as an official witness?
If a document presented for notarization does not contain a notarial certificate reflecting the taking of an oath or acknowledgment, a notary may witness the signing of the document in the notary's official capacity as follows:
a. Obtain satisfactory proof of the identity of the person signing the document;
b. Observe the signing of the document;
c. Date, sign and apply the notary's seal or stamp to the document;
d. Indicate the date on which the notary's commission expires; and
e. Record the notarization in the notary's register of official acts.

Reply by JanetK_CA on 1/15/10 4:16pm
Msg #318176

Re: Maryland notary as official witness

"How does a notary public act as an official witness?"

I suppose you mean "a *Maryland* notary public"...? What you stated would not be sufficient in CA. No seal is allowed to be used on anything without the appropriate notarial verbiage. Period.