Posted by Alan Murray on 2/9/11 10:40pm
Msg #372105

Fax back Legals

I was asked to fax back the "Legals" when I ask what the "legals" were I was to I'm not a Notary. Can someone tell me what the legals are?

Reply by JulieD/KS on 2/9/11 10:50pm
Msg #372106

The Hud, the note, the mortgage, the truth-in-lending, the RTC and possibly the affidavits.

Reply by OR on 2/9/11 10:53pm
Msg #372108

What Julie just said. HUD NOTE DOT TIL RTC and Riders to DOT. Some times signature aka's. and 4506T

Reply by Ilene C. Seidel on 2/10/11 6:19am
Msg #372115

They weren't very fair to you yes the legals are the HUD, Till, Mtg and Riders, RTC etc but each title company have their own list what they want faxed and should have provided you with "their" list.

Reply by Linda_H/FL on 2/10/11 7:45am
Msg #372120

Re: Fax back Legals...agree with other posters

but would add that it may differ from one company to the next, so when I'm told that I ask them to please e-mail me a list of exactly what they want faxed back - I then use that as my "checklist" and fax the list back with their docs - you then also have it in writing that you did what you were told...

MHO

Reply by Kay/IL on 2/10/11 8:24am
Msg #372123

Good Response Linda Because

If you work or have worked in any real estate profession (law, sales, etc.), "legals" can also mean the legal description to the property.

Reply by Alan Murray on 2/10/11 9:52am
Msg #372139

Re: Fax back Legals...agree with other posters

Thanks for all the responses. I will make sure I just send those listed. It's better than faxing the entire package of 100 pages or more.
Alan

Reply by Scott/NJ on 2/10/11 10:10am
Msg #372146

Re: Fax back Legals...agree with other posters

If you ask, sometimes they really only want the first and last pages of the mortgage, not the whole thing. (Same with the note, but that's usually only 3 or 4 pages to begin with...)

They can't really do anything with the faxed signatures/documents; and the 3 day recission period has to occur in which time they will have the originals; so for what purpose do they want these faxes?

Reply by PartikgirlNJ on 2/10/11 11:42am
Msg #372168

Re: Fax back Legals...agree with other posters

If it is a purchase or second home with no recission period then they use the fax backs to start the funding procees. Also it has been my experience that the "legals" also contain any forms signed by the non-borrowing spouse.

Reply by Jodith/WA on 2/10/11 1:10pm
Msg #372185

As the others said, when faxbacks are requested, I ask for a list and if they need the whole form or just the signature page.

And then I tell them my charge for faxbacks. It's amazing how many suddenly don't need faxbacks when I tell them I charge to do them.

Reply by jaxson on 2/10/11 3:54pm
Msg #372234

Every company that I work with that requests fax backs always let me scan and email the docs back to them. Why do you all still fax everything?

Reply by Linda_H/FL on 2/10/11 3:56pm
Msg #372236

Re: Fax back Legals....well, me personally

I haven't figured out the scanner yet - I scanned something to my computer a year ago - still haven't found it...

They get same-day dropoff or faxing - that's it..

Reply by jaxson on 2/10/11 3:59pm
Msg #372239

Re: Fax back Legals....well, me personally

Get a canon MX340. It makes scanning docs so easy. It automatically downloads the program on your computer. You open one folder, put the docs in the feeder, and hit scan. Save and it's done. I have a laser for printing but this is a great machine for copies and scans.

Reply by Jodith/WA on 2/10/11 4:14pm
Msg #372244

Re: Fax back Legals....well, me personally

If they will accept it by e-mail, I send it that way. Otherwise I e-mail it to my ringcentral account to be faxed.

Either way, though, I have to go back home, scan and send docs, and then go back out to drop the docs. It means extra mileage, therefore they get an extra fee.