Posted by Ali/IL on 1/22/10 2:17pm
Msg #319058
split signing
I have the second part of it. I was told by title that my borrower has to sign with the same date that the spouse has signed already. Doesn't the right to cancel have to be changed to reflect the second borrowers date? Also, what if the rtc has both signature on same page?
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Reply by Philip Johnson on 1/22/10 2:34pm
Msg #319061
Going to look kinda odd when your notarizations
reflect a different date then the borrower's.
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Reply by Linda_H/FL on 1/22/10 2:36pm
Msg #319062
So they want you to backdate?
And if the RTC has both signatures on the same page, they both sign where indicated but the later date prevails - read the opening paragraphs of the RTC - it's the later of 3 events that commences the rescission period - the date of the transaction, the date they receive their TIL or the date they receive their Notice of RTC.
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Reply by Alz on 1/22/10 3:27pm
Msg #319065
Dual-signings....I've have
completed a host of these type of signing engagements laterly and continue to use the date the the BO appears before me. It has never been a problem.
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Reply by MW/VA on 1/22/10 3:44pm
Msg #319069
I've done many of these. Don't backdate. You can only perform your side of the signing as of actual date your borrower is signing. Some companies arrange is so that borrowers in different locations still sign on the same date (two sets of docs). I don't know what they might run into when recording if the dates are different, but that's not my problem.
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Reply by Ali/IL on 1/22/10 4:58pm
Msg #319081
There was no rtc as it is a second home. Second borrower signed today which is the day of funding.
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Reply by PAW on 1/22/10 7:56pm
Msg #319158
??? No RTC???
You said in your original post, "Doesn't the right to cancel have to be changed to reflect the second borrowers date? Also, what if the rtc has both signature on same page?" So now you're saying there is no RTC because it's a second home. When are you doing the signing? The lender certainly won't fund without all parties signatures so if the 2nd party (your signing) is signing today, it can fund today. What's the problem?
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