Posted by Pamela Hoyle on 7/16/10 11:51pm
Msg #345327

Occupancy Afft x 2

I have a refi tomorrow....b/o is in NM, prpy in TX. BIG pkg (158 pp). Included, side by side in pkg are 2 separate and conflicting occupancy affts...one states that she occupies TX prpy, the other states she does not and it is investment. I have an email in to title and will try to call in a.m., but it is Saturday. She obviously does not occupy prpy. What would you do?

Reply by jba/fl on 7/17/10 12:10am
Msg #345328

I would have her sign the one that applies to her.

If she lives there, that is the one to get signed. If she does not, then she would sign the other one. She cannot sign both as that would be in direct conflict and a contradiction.

Sometimes it definately appears that the employee assembling the document package is just picking up one of every form in their office for inclusion. Since it is not your job to make a decision, you will have to point out that, "here are two forms, one says you live here, one says you do not. Which fits your situation."

Reply by CopperheadVA on 7/17/10 6:23am
Msg #345336

Re: I would have her sign the one that applies to her.

Agree with JBA. Also, this document usually requires a Jurat with an oath of truthfulness, so the signer cannot sign the one that doesn't apply without committing perjury.

Reply by C. Wayne Moore on 7/17/10 6:34am
Msg #345337

Check the 1003 Under Property Info and Purpose of Loan

There are three blocks: Primary Residence, Secondary Residence, and Investment. One of those should be checked.

Reply by Pamela Hoyle on 7/17/10 9:11am
Msg #345351

Re: Check the 1003 Under Property Info and Purpose of Loan

spoke with lender..."if the borrower has a problem signing as is.." (IF?) have them write in investment property and initial. We need to have BOTH signed. Well then, ok...

Reply by PAW on 7/17/10 9:22am
Msg #345354

Re: Check the 1003 Under Property Info and Purpose of Loan

What??? How can the owner sign both? If the property is NOO, they can't swear, under oath, that they occupy the property. Something is terribly wrong in Texas!

Reply by Pamela Hoyle on 7/17/10 9:54am
Msg #345358

Re: Check the 1003 Under Property Info and Purpose of Loan

They want the borrower to pen/ink in that it is investment prpy...but only IF they have a problem with signing it as is. This one already smells. And to top it off, it's one of the ones where "There are to be NO calls made to the borrowers in advance. the Closing Date and Time have already been confirmed with the borrowers by ABC...yada, yada, yada...If you are unable to locate the address, you must call US immediately..."

Reply by Linda Juenger on 7/17/10 10:33am
Msg #345362

Re: Check the 1003 Under Property Info and Purpose of Loan

I won't print or start my car unless I can confirm with borrowers first. Been there, done that and got burned.

Reply by jba/fl on 7/17/10 10:39am
Msg #345363

Same here, plus, must be in writing I will be paid in full. n/m