Posted by Rhonda Skansi on 7/29/10 7:23pm
Msg #346888

re-sign

Today was the first time in 4 1/2 years that I was asked to go re-sign a loan because the borrower signed WITH his middle initial and the documents just had his first and last name. It was his natural signature and what matched his DL. I thought it was odd that the original signing was on Friday the 23rd and should have funded yesterday. Why did it take so long for them to make it an issue? Also, the check that I collected from him (short to close) was apparently misplaced somewhere....and not by me.....however, they would have liked to have thought it was my fault...I got the feeling. Anyway, got it re-signed..collected another check..dropped docs.. any thoughts by anyone?

Reply by janCA on 7/29/10 7:32pm
Msg #346891

I always have the borrower sign with whatever is listed on the docs as long as there is a match on his ID. Many times, you can't even tell what's in the signature, it looks like a scribble, and all lenders are different, you just happen to get one that is picky.

Reply by Cari on 7/30/10 11:26am
Msg #346998

..thought more was good...never had this issue happen to me. n/m

Reply by Linda_H/FL on 8/1/10 9:27am
Msg #347213

More on the ID than what's on the docs..yes...

More signature than on the docs...maybe not so good...

The A/K/A Affidavit will pull all the names together but I can see the necessity of the docs being signed exactly as the name is printed...there's a reason...Jane Doe owns property...she signs Jane M. Doe...Jane M. Doe does not own property - Jane Doe does...there may well be a Jane M. Doe down the street - this person has NO interest in the property...they are two separate and distinct people ....

Reply by Michelle/AL on 7/29/10 7:46pm
Msg #346894

Rhonda, are you wondering about whether or not you

should charge another fee? Or were you simply trying to find out if this sort of thing has happened to others? I haven't had to re-sign a borrower due to this type of signature discrepancy. Earlier this week I caught the wife signing documents with her middle initial when the docs showed none. I apologized to her because although I clearly explained to the husband to sign his name as typed on the forms, I failed to say the same words to the wife. She was at the signing table but she was the non-borrowing spouse so she didn't have to sign until later. I was able to swap out clean copies from their set.

It is frustrating as heck to have an error like this prevent a successful closing.

Reply by Rhonda Skansi on 7/29/10 8:51pm
Msg #346905

Re: Rhonda, are you wondering about whether or not you

No....I definitely wasn't expecting a fee or charging for the second trip. I was really curious about why it took so long to be an issue. They got the signed docs back on Monday and called me today...

Reply by GOLDGIRL/CA on 7/29/10 11:32pm
Msg #346927

This is very disturbing news that "oversigning" is now a problem - and even worse that you were somehow allegedly to blame and thus didn't get paid for the re-sign. I know that's not why you posted - who knows why it took them so long? - but to me the huge issue is why the re-sign - and the whole check thing sounds totally fishy ....

Reply by JanetK_CA on 7/29/10 11:36pm
Msg #346929

Just goes to show that over-signing is NOT always better than undersigning - it can be just as bad, as evidenced by this example. I try to shoot for no more, no less.

Reply by GOLDGIRL/CA on 7/30/10 12:03am
Msg #346930

Well - I never thought tnat oversigning was "better" - just that it was always acceptable, whereas undersigning was never acceptable. However, I'm with you JanetK - no more no more. (Get it? My new motto: "No more no more.") Cos no way do I ever want to do a re-sign over this inane issue. Yikes! Actually I'm beginning to wonder if the re-sign was just an excuse to cover up the "lost check" fiasco.... the loan didn't fund, the check was lost, we need loan re-signed, how can we get out of paying the notary, oh, let's use the MI excuse!

Reply by Rhonda Skansi on 7/30/10 12:37am
Msg #346933

Goldgirl/Ca

This is what I was wondering if somebody else would think....besides me. Exactly what you posted about the check thing. I do admit that about 85% of my signings are signatures that are illegible...any maybe I've been slack...other than checking ID and making sure sigs match. This is definitely a wake-up call to make sure "sign as typed" will be adhered to. I've done a ton of signings for this particular company and I'm sure that this isn't the only time that somebody has oversigned...just the first time that it was an issue. I'm waiting to see when I get paid if I get deducted $25 for the mistake...

Reply by Rhonda Skansi on 7/30/10 1:25am
Msg #346934

also....

they wanted the borrower to sign with the original date of the 23rd....and they said I could change my date on the notarized docs for today's date...only 2 docs needed notarization...and the DOT notary page is on a separate page of its own....that makes me wonder, too.. easy to switch...maybe i'm being paranoid...i dunno. It just bothers me that I didn't have a successful signing....It's been a very long time.

Reply by ReneeK_MI on 7/30/10 4:09am
Msg #346941

I dunno, two 'issues' on one file? What are the odds ...

Just doesn't make sense to me, I'd bet more money on the signature issue being a ruse (to get you to do it w/out pay), and that something happened with the pkg - unless, maybe, Provident on a bad hair day? Still ...the odds just don't add up for me to buy this, and that's before you add in the other factor of why it took them so long to do the re-sign.

FWIW, I've never ever heard of anyone taking issue with an over-signature, particularly one that matches the D/L signature.

Reply by Ocean Pacific Notary Services, Inc. on 7/30/10 9:10am
Msg #346968

Re: I dunno, two 'issues' on one file? What are the odds ...

just had a loan not fund and borrowers lost their rate lock because notary had borrower over sign their name on every signature line. Signaure line showed no middle initial, but borrower signed middle initial on every line. It does not matter there is a Signature AKA in the docs. It is the lender's requirement and it was our requirement clearly stated with instructions to sign.

Not all lenders allow oversigning and borrowers need to sign EXACTLY as signature line shows. That is the signing agent's job, make sure borrower signs each page correctly. You already verified their ID - so you know there are one in the same person, just have them sign the way signature shows.

Every lender has funding requirements, and signatures are a big issue so better keep it exactly the way signature line reads and not add to or take away from. Keeps everyone happy

Reply by CopperheadVA on 7/30/10 11:05am
Msg #346996

Re: I dunno, two 'issues' on one file? What are the odds ...

I instruct the borrowers to sign as typed and I even go over it with them on the first signature, pointing out if there is an initial or not in each typed name. Most cooperate without issue. With that said, some borrowers argue about it and the notary has to make a judgment call as to how far to press the issue - I've had some people get pretty upset about it. Their signature is their signature - there's only so much a notary can do sometimes.

Reply by GOLDGIRL/CA on 7/30/10 12:35pm
Msg #347012

Re: I dunno, two 'issues' on one file? What are the odds ...

<<just had a loan not fund and borrowers lost their rate lock because notary had borrower over sign their name on every signature line>>

Yikes! Still, seems unlikely the notary "had" the borrower sign this way - more likely that it was the way the borrower normally signed, and up until now, at least, oversigning has been OK. On the other hand, notaries are always pressing borrowers to sign their names in ways they don't want to in order to conform with the docs. In any case, valuable lesson learned. Score another one for NR!

Reply by Rhonda Skansi on 7/30/10 1:24pm
Msg #347026

Re: I dunno, two 'issues' on one file? What are the odds ...

Yep....bottom line...lesson learned. From now on sign as typed with or without initial....I, too, will never ask a borrower to change his signature from his/her illegible one to one that can be read.. a sig is a sig.