Posted by Pierces Notary Services on 11/18/10 1:23pm
Msg #361822

Chase loan - 11 RTC's in package

I asked TC if I needed to have all 11 signed and she said yes. I asked her out of curiosity, why? This is her response:

"Chase sometimes sends that many and sometimes doesn't. We don't know why."

Reply by Robert Williams on 11/18/10 1:25pm
Msg #361823

In other words, she's never asked. ... and I thought four copies was a lot...

Reply by CopperheadVA on 11/18/10 1:29pm
Msg #361824

At least you got your Chase pkg - I'm still waiting for mine and appt is *supposed* to be in 30 minutes from now.... Not the first issue I've had with Chase lately...

Reply by Pierces Notary Services on 11/18/10 1:33pm
Msg #361825

Yep I received this package last night for a Friday closing. Doesn't happen too often.

Reply by Frank/NC on 11/18/10 1:48pm
Msg #361830

I think this started a couple of months ago. When I first received the package I called thinking that 12 RTC were a mistake. Whoever I spoke with told me the package went through 12 different departments when it came back and that each one required an original. I don't know whether or not that is true but I just get them signed and send it back.

Reply by Pierces Notary Services on 11/18/10 1:53pm
Msg #361833

That's what I will do. Don't want to hold up funding. Just seems very redundant. They have to sign all 11 plus the 5 in their package (both names on RTC) for a total of 16.

Reply by Linda_H/FL on 11/18/10 2:13pm
Msg #361842

On the last Chase one I did where that happened

I had them sign and date all 12, left 4 with them and returned 8...

Reply by parkerc/ME on 11/18/10 2:22pm
Msg #361847

I do the same..sign 12, leave 4, return 8 n/m

Reply by taxpro on 11/18/10 2:13pm
Msg #361843

I was told that the extras were there in case they made a mistake signing them. They said, give them 2 correctly signed copies, send one correctly signed copy for each borrower back to us. You can toss the rest. That's what I've always done, and have never heard a complaint.

Reply by Frank/NC on 11/18/10 2:21pm
Msg #361846

Then it just seems that no one at Chase has any actual information as to why they need them all signed. Oh well,I guess we all just keep doing whatever we have been as long as it all goes through and we get paid.

Reply by BestFlCloser on 11/18/10 2:42pm
Msg #361851

I did ask an LO about the amount of RTC's in the package. He told me just have the bo's sign 6 and dump the rest. I just return the rest unsigned. Been doing it for a couple of months and no problem at all.

Reply by pat/WA on 11/18/10 3:10pm
Msg #361855

I have all 12 signed and returned. Easier than arguing.
Anyone know what the $85 dollar tax service fee is for?

Reply by Linda_H/FL on 11/18/10 3:14pm
Msg #361856

If memory serves me correctly, the tax service fee is the fee the lender pays to an outside service to track the taxes on the property and handle the payment of the tax installments.

Reply by John/CT on 11/18/10 3:14pm
Msg #361857

RE: $85 dollar tax service fee

That's on one of the Affiliated Business Arrangement disclosures. Actual fee on HUD-1 is $45 for them to manage the borrower's tax escrow payments.

I was also told by First American Title, to return only one executed RTC for each borrower.

Reply by bagger on 11/18/10 3:29pm
Msg #361860

Some days, I feel like a copy boy!

Reply by Ali/IL on 11/18/10 3:33pm
Msg #361861

I don't print out all of those copies. I just leave the two for each. Of course I don't leave any unsigned ones with them.
The tax service fee I believe is for them checking what taxes are owed.

Reply by FLtee305 on 11/19/10 12:54pm
Msg #361977

Hello,

I wanted to know if Chase Mtg. uses loan signing agents? and if so, how would I go by registering with them to do signings?

Reply by CopperheadVA on 11/18/10 7:30pm
Msg #361886

Several people have said they don't return all the RTC copies in the package, others have said they toss some, etc. I learned a big lesson a few years ago. I did a Countrywide loan and it had 12 RTC's. The signers were older and were absolutely overwhelmed with the volume of paperwork. The RTC's were separated into two sets - six earlier in the package and six later in the package. I disregarded the second set of six RTC's because the people were so overwhelmed with the paperwork. I did not have them sign those because they had already signed six RTC's earlier in the package.

Well guess what? The two sets of RTC's in the package were slightly different from each other. One said "refinance with same lender" and the other said "refinance with different lender". The ones I disregarded because I thought they weren't needed - well, those were the ones that needed to be signed!

So now my standard protocol is to have every doc signed and returned. Absent specific instructions, it's not my call to make as far as how many copies get signed and returned. And I am not going to ask every single client how many they want signed. If it's in the package, it gets signed and returned. Just MHO - I always operate in CYA mode.

Reply by CopperheadVA on 11/18/10 7:33pm
Msg #361887

Oh and my Chase docs finally came in at 4 PM for my 3 PM closing today. Twelve RTC's were in the pkg - all got signed and returned.

Reply by Patsy Cabiness on 11/18/10 8:41pm
Msg #361893

And do you leave a total set of all docs signed by them since the RTCS read that they acknowledge that a total set was left with the borrowers?

This has often confused me as to how many RTCs are needed to be returned and how many should be left with the borrowers.

These days, I don't take a chance. I just reprint the whole pkg and leave with the borrower. You never know how many copies of what they want.

Anybody disagree with this?

Reply by CopperheadVA on 11/19/10 5:36am
Msg #361932

Patsy, I gave borrowers an exact duplicate set - they received 12 RTC's in their copy package.

Reply by LynnNC on 11/18/10 10:38pm
Msg #361909

I handle Chase loans for LSI and return one RTC signed by each borrower and shred the rest. Never had a problem.

Reply by Deborah Lewellen on 11/19/10 9:01am
Msg #361950

Re: Chase loan - 18 RTC's in package

I've had them where there was 18 in a pkg. absolutely stupid.
But 12 seems to be the norm.