Posted by Yoli/CA on 11/11/10 10:56am
Msg #360780

Bank of America -

Discussion was brought up recently how BofA loans have slowed down. Well, maybe they've just been released.

In a matter of about 1/2 hour this morning (first call at 7:59 am), I received 2 calls from LSI. Both are BofA loans.

Here we go, folks ... hang on for the wild ride!!!

Reply by James Dawson on 11/11/10 11:08am
Msg #360782

I was just getting ready to post a question about TC being open today and signings occuring, shoot! Thought I'd have a vacation day.....like everyone else. LOL

Reply by Moneyman/TX on 11/11/10 2:07pm
Msg #360817

James, think we should charge holiday fees today? LOL

Just thought I'd ask <sheepish grin>

Reply by James Dawson on 11/11/10 2:18pm
Msg #360820

Re: James, think we should charge holiday fees today? LOL

i DID but I got the ol' "let me see if I can get approval from my supervisor..."

Reply by Moneyman/TX on 11/11/10 3:03pm
Msg #360824

Don't expect a call back today. Supervisor is off today.

It's a holiday for them.

Reply by nobhill on 11/11/10 1:36pm
Msg #360810

Let's roll!

Reply by bagger on 11/11/10 2:49pm
Msg #360822

Along the lines of BofA, I did a signing 2 nigths ago involing a trust.
The TYPED in signing lines were:

Jane Doe

John Doe

Jane Doe as trustee of the Jane Doe and John Doe revocable trust established xx/xx/xxx.

John Doe as trustee of the Jane Doe and John Doe revocable trust established xx/xx/xxx.

I had Jane and John sign EXACTLY as the printing!

TC called and said, I should have just had them sign Jane Doe and John DOE on BOTH lines, made me go back and re-sign 4 docs.

They paid me for the trip, but I sure think I was right here. Any other opinions?

Reply by Linda_H/FL on 11/11/10 2:54pm
Msg #360823

Two signatures each

Jane Doe
Jane Doe, Trustee

John Doe
John Doe, Trustee

The rest of the wording about the trust isn't usually really necessary in the signature - Trustee is usually sufficient so they sign in their representative capacity as well as individually.

But, hey - he who has the money - you got paid for it so you just do what you're told.

Ours is not to find the why's...ours is just to notarize...

Reply by JAM/CA on 11/11/10 3:39pm
Msg #360831

Re: Two signatures each

WFB wants no "Trustee" after signature, just sign twice. The wording is under the line. Each lender is different.

Reply by Jason Berger on 11/11/10 3:33pm
Msg #360830

I completely agree with you. Had this same issue at a closing recently; Jane Doe was supposed to be out of state bt wasn't, and the docs showed Jane Doe, John Doe her attorney in fact. Title knew, didn't change anything, and rejected the Affidavit of Title and other things, saying we should have caught it. While I'm not trying to pass the buck (Though this will sound that way) I'm a notary: I'm present to verify identities and witness signatures, not to make sure the TC has the docs correct..called the SS that hired me during and he said it was okay to have her sign with the extra verbiage...ugh, who knows

Reply by JanetK_CA on 11/11/10 5:24pm
Msg #360872

I've seen a bazillion different ways for lenders to handle the wording when trusts are involved - and very often get different answers, even with similar wording. However, it's been my experience that B of A is also among those who - at least these days - only want the borrower to sign their names each place a signature is required. I've very seldom been told to have them sign the entire name of the trust, and if there were one or two times I was asked to do that, it was by someone who don't think knew what they were doing, but couldn't reach someone who did.

Safest option? *Always* ask when a trust is involved, unless you've consistently received the same answer from all the same parties involved.

Reply by Alz on 11/11/10 7:24pm
Msg #360903

Because all Lenders/TC have

different policies and procedures when it come to these type of signing, I generally always ask, if instructions were not provided.