Posted by ikando on 9/9/10 1:02pm
Msg #352006

2 copies of Mortgage to be signed?

I've just received instructions from a second company that is requiring 2 copies of the mortgage be signed. I'm confused because it's my understanding that the mortgage/deed is what is filed in the abstract. What could be the need for a second signed copy?

Thanks for your insight.

Reply by bagger on 9/9/10 1:08pm
Msg #352007

Sometimes I feel that we are treated as nothing more than copy boys.
O, there's the bagger, makin copies!

Reply by Yoli/CA on 9/9/10 1:09pm
Msg #352008

Is it a reverse mortgage?

Reply by ikando on 9/9/10 1:12pm
Msg #352013

No. Standard refi.

Reply by Ilene C. Seidel on 9/9/10 4:16pm
Msg #352059

Every once in a while I have a company requiring two copies. I tell the borrower one is for recording the other for mtg co's records.

Reply by HARRY_PA on 9/9/10 1:09pm
Msg #352009

Because they want it. Ours is not to reason why. You can d it or pass.

Harry

Reply by James Dawson on 9/9/10 1:12pm
Msg #352011

my last two signings had two copies od the Deed and Note....I thought my printing was going crazy.

Reply by Riley/FL on 9/9/10 1:23pm
Msg #352016

Probably in case they spill their coffee on one.

Reply by GA/Atty on 9/9/10 1:32pm
Msg #352018

It's in case one original gets lost on the way to recording.

Every now and then one gets lost in transit or sometimes misfiled after it arrives at the courthouse.


No harm in having a second mortgage signed.

In the case of a note, however, a second copy should always be marked as such.

Reply by bagger on 9/9/10 1:44pm
Msg #352019

Re: It's in case one original gets lost on the way to recording.

Again, that just furthers my argument that we are looked on as nothing more than copy boys/girls.
Why have I had signings with 12 RTC's?

Reply by GA/Atty on 9/9/10 1:59pm
Msg #352020

Because the software that the lenders use to generate their

loan packages usually prints more RTC's than are needed. This is so that 2 RTC's can be left for each borrower.
Some programs print 1 per borrower, some print 3 per borrower, others just print a truckload (like 12).

Of course it is never necessary to have more than 1 RTC signed per borrower to return to the title company.

Reply by MW/VA on 9/9/10 4:02pm
Msg #352052

I have several companies that require 2 copies of the DOT

signed. IMO it's a kind of insurance. I also do some work for another tc, 2 copies of DOT always, and one goes to their abstractor for recording & the other in their file.
There's one company that gets 2 copies of the Note signed, the 2nd one is clearly marked "Certified Copy".
None of this is unusual or cause for concern. We follow the instructions we're given.