Posted by MariaIECA on 3/30/11 9:01pm
Msg #378059

Borrower over signed?

I received an email stating that I did not have the borrower sign correctly and therefore my acknowledgement was incorrect also. Borrower's signature line read: Jane D. Doe. Borrower signed Jane Dee Doe. Acknowledgement read Jane D. Doe. From my experience and from what I have been told, it is ok to have borrower over sign, but never to under sign.

Has anyone had this happen to them? TIA :-)

Reply by GOLDGIRL/CA on 3/30/11 10:03pm
Msg #378064

Sorry

<<From my experience and from what I have been told, it is ok to have borrower over sign, but never to under sign.>>

Not any more, apparently. When they say they want the borrower to sign exactly the way their name is printed on the docs, they mean it. I've heard too many times about docs being bounced because of oversigning.

I used to do what you did .... let them oversign, but ack their signature the way their name was printed on the docs of preprinted on any acks. No more .... Do you have to do a whole re-sign or a new ack?

Reply by kcslaw/MA on 3/30/11 10:20pm
Msg #378065

Re: Sorry

I know I'm so thankful when the borrower has a signature like mine - no one is EVER going to be able to decipher what it says (or doesn't say!)...

Reply by MariaIECA on 3/31/11 12:15am
Msg #378069

Re: Sorry

Well, I tried "fixing" the problem when I received the email, but I couldn't get anyone to take my call. The borrower called me today and said that they sent him the signature page for the DOT and the Rider. He wanted to know why he had to resign if he already signed it. I told him to call the Title Company directly since no one would give me the time of day. I apologized and told him that I was more than willing to have this taken care of on Monday, but unfortunately the Title Company wanted to take care of it themselves. I exaplained to him that the over signing has NEVER been a problem in the 9+ years I have been notarizing loan documents. I'm guessing they are going to use the same acknowledgement and just want them to resign the 2 docs. It just makes me feel awful that I may have held up the funding of this transaction. This has never happened to me. :-( Thanks for your responses.

Reply by janCA on 3/31/11 9:49am
Msg #378089

New deed should have been signed.

See, the problem with this is, the borrower has signed a NEW deed on a new date, but the lender is using the acknowledgment from the date of your signing. This deed should have been resigned in front of a notary and a new acknowledgment attached. Always, always have docs signed with the name that is typewritten on them unless you have contacted title/lender to let them know the discrepancy. JMHO

Reply by GOLDGIRL/CA on 3/31/11 12:15pm
Msg #378110

Don't feel bad

I don't think you should beat yourself up over this. Like you, I've been in this biz for years and up until now oversigning has always been acceptable. But many things that were acceptable in the past aren't any longer. It was through reading on NR recently that I learned not to let anybody oversign. In fact, Gina, owner of Ocean Pacific, posted that she had to send a notary back to re-sign over this exact issue. So read and learn, y'all! This is what makes MR great.

As far as your taking the heat over holding up funding, that was the lender's decision.
As far as what the TC is doing - having the borrower re-sign the Dot and Rider through the mail - that has to be totally illegal. I'd like to think that this is the first time in history that a Deed of Trust has been signed and recorded without any input from a notary but sadly it probably happens all the time. It's funny how the lender and TC are going all bonkers over a minor signature issue but are throwing out the law completely when it comes to rest of it!

Reply by ReneeK_MI on 3/31/11 1:14pm
Msg #378126

Expect to see more and more of this *stuff*

Gone are the days when you could actually have a professional discussion about such snags with anyone. There is no more allowance for common sense, or even actual statutes or the applications of them. Now, it is an arbitrary world simply because it's FAR easier to 'niche train' someone to do one thing, do it one way, forego any in-depth or logical explanations (thereby preventing any real understanding of WHAT they are doing), and pay them minimum wage to do it.

This holds true with recording clerks as well. Far easier for title agents to become this arbitrary about "front, back, & cert of the mtg must match" than to end up debating the validity of (or lack of validity for) a clerk's rejection to record.

Most surely this isn't specific to the lending/title industries, either, but I've seen this phenomenon happening over the past 10 years or so.

Reply by MariaIECA on 3/31/11 3:12pm
Msg #378154

Re: Thanks everyone...I feel a little better now.. :-)

I was thinking the same thing. How are borrowers going to sign the DOT again without a Notary being involved? Go figure. You're damned if you do and damned if you don't. Thanks again for everyone's input. Wishing you all the best... Maria