Posted by pan/nd on 1/8/10 3:38pm
Msg #317314

What would you do?

Chase loan

12...yup...12 RTC's in it.

Last time I had borrowers sign all 12.


This time...can get no one at Title.

Reply by pan/nd on 1/8/10 3:39pm
Msg #317315

to clarify...

there are two and only two borrowers...husband and wife

Reply by Val/NH on 1/8/10 3:46pm
Msg #317316

I have never had borrowers sign and rerturn more than one each. They always have extras in package so each borrower gets at least 2 copies.

Reply by JanetK_CA on 1/8/10 4:05pm
Msg #317321

I used to do the same thing, but this week - for the first time ever - I had a package with explicit instructions for us to return three signed copies of the RTC. (They both signed on the same page.) I found it very curious that they didn't instruct to have the borrowers sign their own copies, but rather implied that it didn't matter. (I had them sign them anyway.)

BTW, I recently met with another RE attorney who is handling cases where people are trying to get out of their loan by pursuing so-called irregularities with the RTC, presenting unsigned borrowers' copies. And this week, I signed another RE attorney who agreed with that. Maybe this is just a thing going on in CA courts (we do have more than our share of people in trouble with their mortgages - and apparently lots of RE attorneys... ), but I no longer leave ANY unsigned copies with the borrowers. I pull them out of the borrowers' copy in case we need replacements, then stuff whatever is left into my briefcase for the shredder.

With 12 copies in a package, these days, I think that would raise some questions for me, too, and I'd want to get a clarification from the lender. Do you have contact info for the LO?

Reply by John_NorCal on 1/8/10 4:23pm
Msg #317323

What I have always done with RTC's is to have borrowers sign all copies (never had 12 though) as if they were for the lender then surprising them by handing them their own signed copies for their files.

Reply by JanetK_CA on 1/8/10 5:01pm
Msg #317335

I think I may switch to follow your lead - at least in cases where there are enough copies included in the package for borrowers' copies. All too often, though, it's seemed like they don't have enough and I have to print extras. Now that I think about it, I'm not seeing that as often, though. I guess what I see most of the time is just enough between the two sets, i.e. three copies scanned in, so I'm pulling out the borrowers' copies to have enough for each of them to receive two.

Reply by Cari on 1/10/10 1:58pm
Msg #317450

WOW 12....I'd make them sign all 12 and I wouldn't be

surprised if TC/SS now make us have the BO sign their copies as well...could be a new thing happening this new year...very interesting....

Reply by Linda_H/FL on 1/10/10 5:28pm
Msg #317460

Re: WOW 12....I'd make them sign all 12 and I wouldn't be

"..I wouldn't be surprised if TC/SS now make us have the BO sign their copies as well"

I leave 2 *signed* copies per borrower anyway so no big deal for me - if company wants 3 back, 2 borrowers, they sign 7...just what I do.

Reply by Cari on 1/10/10 8:24pm
Msg #317467

Re: WOW 12....I'd make them sign all 12 and I wouldn't be

...I leave two signed RTC's as well, as this is the law, but in addition to those two, wouldn't be surprised if we have to make 'em sign ALL extra's.

Reply by JulieD/KS on 1/8/10 5:28pm
Msg #317340

There is one company I've doing signings for lately that require I have the borrowers sign 4 RTCs each. It's a bit of overkill, but I do it.

Reply by MW/VA on 1/8/10 4:02pm
Msg #317319

I've seen as many as 6 RTC's per borrower. I don't make the decisions. I have them sign as many copies as the lender requires. It may seem like over-kill, but the content of the docs is not up to me.
It is my job to facilitate the signing of anything in the package. I've seen as many as 6 TIL's, also.

Reply by LKT/CA on 1/8/10 5:21pm
Msg #317337

5 Star Post!!! MW/VA n/m

Reply by John Schenk on 1/8/10 7:39pm
Msg #317352

The More common thing for me..

is that they send me one (1) RTC for each, yet they acknowledge getting two (2) executed copies. I have to make more copies so I can give them 2 executed copies as the loan pacs come in with only 1 for each.

The RTCs usually state that they acknowledge getting 2 executed RTCs. My borrowers always get that. I normally send 1 RTC for each back in the packet.

JJ

Reply by NJDiva on 1/9/10 11:14am
Msg #317393

Amen-MW/VA

I agree about just doing what's included in the package and not trying to determine if it's right or whether to adjust. I've actually had 6 or more "Initial Tax Authorization" forms. It's been a couple of times that that's happened.

I have no idea why they would need so many but as MW said, I don't question (I think it's odd), I figure maybe they have a reason. Maybe there are certain areas where the county is incompetent (much like some of the entities we deal with) and the information keeps getting "lost"-within the county-(you know, like our invoices and stuff, i.e. W-9 ect.,) so they make sure to have extra copies?

Whatever, it is what it is, right?

Thanks for the topic. Glad I'm not the only one though.

Reply by Lee/AR on 1/8/10 5:22pm
Msg #317338

Ouch! If I couldn't reach them to determine exactly how many they really want returned, I think I'd assume (& we know what happens when you assume) 2 for each B & 2 to be returned. 12 is an awful lot unless they are planning on using the extras to wallpaper a small room. However, I have had one co. want 3 returned.

Reply by John Schenk on 1/8/10 7:49pm
Msg #317354

They have a copy machine. They can run as many of them as they want after we send back an original for each borrower. I'd consider 12 RTC's an error, unless they advised me otherwise.

JJ

Reply by pan/nd on 1/8/10 10:27pm
Msg #317361

Not an error, John.

the two loans tonight were both Chase...both had 12 rtc's

two different title companies.

A loan about a month ago was also a Chase...different title co still..and it had 12 rtc.s

Must be a thing with Chase.

Finally got ahold of a gal at one of the title companies. She flat out didn't have the foggiest.

Reply by PAW on 1/9/10 8:28am
Msg #317374

Depends on what software the lender is using to generate the doc package. Some RTC's have room for 4 signatures (i.e. 4 borrowers). Since each borrower gets 2 copies and the lender gets one, that's a total of 3 copies for each, times 4 borrowers, equals 12 copies.

I know it's overkill and a flaw with the software, but that's the way I've seen it work in the past with a LOS package that I was using before.

This isn't to say that's what is happening with Chase, but it may be.

Reply by SOCAL/CA on 1/9/10 6:19pm
Msg #317412

What's the big deal here? If the loan package have 12 RTCs, get them signed and send them back. It's not your decision to decide how many copies of any document to get signed.

Reply by LKT/CA on 1/9/10 7:37pm
Msg #317413

5 Star Post !!! SOCAL/CA n/m

Reply by Joan Bergstrom on 1/9/10 9:31pm
Msg #317416

Get them signed

I have had packages where there are repeat after repeat of certain documents and I just get them signed.
I have had packages where there are 4 HUD forms to sign and 8 Right to Cancel forms and 2 separate Deeds of Trust to sign. I just get them signed and send them back.

Reply by desktopfull on 1/9/10 11:29pm
Msg #317421

Re: Get them signed

I'm still trying to figure out when NSA's decided that they were the ones that could decide what was to be signed or not in the closing package. As far as I'm concerned if they send it in the package they sign it (except for the optional auto payment forms) no execptions.