Posted by Marian_in_CA on 4/15/11 6:12pm
Msg #380005

Initialing Page 3 of the W9

This just cracks me up... I've had quite a few loan packages as of late wherein I'm instructed to have the borrowers initial page 3 of the W9. In fact, it is tucked in as an afterthought in another instruction. Specifically:

"IF THE 4506T IS INCLUDED IN THE LOAN PACKAGE, IT MUST BE FAXED BACK WITH
THE CRITICAL DOCS. Page 3 must be initialed as well as page 3 of the W-9."


Is this just a quality control check or something? I can't see any reasonable purpose for this.

Of course, this doesn't include the fact that the 4506T (request for tax transcript) is only two pages, not three.

Reply by Linda_H/FL on 4/15/11 6:26pm
Msg #380007

I think the initialing on page 3 is a result of the

document generator that's used - I used to see this a lot with some document programs but not at all in others.

MHO

Reply by MW/VA on 4/15/11 7:46pm
Msg #380012

I've seen a lot of extra initialling lately--silly, really,

but we follow instructions & do what they ask.

Reply by pan/nd on 4/15/11 10:59pm
Msg #380034

I couldn't take it any longer and after seeing this in a couple of loan pkgs...I called

Title. The gal there was not aware that there are only 2 pages to the 4506-T and

sighed...and said to ignore it as well as the "initialing page 3 of the W-9"

So I did.

Have done many since...ignored it...and nobody has said anything.

This is the same company that asks for a certain page to be faxed back to them

and the 800 number they give is no good.

I finally figured out...by accident, that it's no good because it should be 888 and not the

800 they give.

Ah well...they pay me timely and pay my fee..so why should I quibble about "trivial" matters?

Reply by Marian_in_CA on 4/16/11 7:15am
Msg #380037

Thanks. Yeah... I've been using it as a comic relief moment in the signings. Even the borrowers get a laugh out of it.

I put up with it (and their 60+ page faxbacks for BofA loans, ugh) because it's fairly minor, and this company never argues with my fee, they me me, and well, for the work -- and always on time.

The faxbacks aren't an issue for me anymore, either. I picked up a Fujitsu Scansnap, high speed scanner. I pop everything on there and it scans it all in for me to a PDF file, which I then send to my efax service by email. Simple and little hassle.

Reply by CopperheadVA on 4/16/11 7:31am
Msg #380038

I have found conflicting instructions with a national title company that many of us work for. Had one on Thursday - an instruction page came withe the docs that said I must fax back certain pages after the closing. It gave a fax number, but then gave another fax number if it was a non-owner occ property. So I emailed the person who sent me the docs and said I would need a fee adj for the faxbacks - he emailed back that this loan will not fund until the 19th so no faxbacks are needed. Alrighty then.

The same instructions said to email a certain email address with the closing confirmation, but that email immediately bounced back as a permanent failure.

This same company has the borrower sign a Patriot Act form that says a copy of ID is required, but in reality they do not require a copy and only require that the ID is listed on the ID form they provide. Found that out after I could not obtain a copy from a borrower and I called title company. They said the form was outdated.

Reply by Yowheelz on 4/18/11 8:58am
Msg #380207

Punish the Notary

Instruction: Because some notaries are missing the initial line on the last page of the note (which incidently has a signature line) we are now requiring that ALL pages of the package be initialed.

We all suffer for the errors of a few.