Posted by Art_MD on 3/29/11 2:31pm
Msg #377816

venting...


Got a call re: signing saying that I failed to have the borrower initial the 1st page of the w-9 and the signature page of the DOT. Want me to make a trip to get borrowrs to initialed.

Both these pages are signature pages!!!!!!!

Reply by Shoshana/AZ on 3/29/11 2:34pm
Msg #377817

Not unusual for that to happen! I have seen initials required on those pages many times. If there's a line or if it's in the instructions you must comply.

Reply by ikando on 3/29/11 3:19pm
Msg #377829

I've asked if they couldn't be mailed rather than my making a second trip for something that is not a critical doc. Don't know about the DOT, but it does seem to be overkill for both signature and initials. It seems to me that if they signed it, they've at least seen the doc, which is why I suppose they want the initials.

Reply by S Peterson on 3/29/11 4:57pm
Msg #377849

Re: venting...it's gotta be a Chase loan

They are getting really strict on this. I am now seeing extra "instruction pages" on this because of a high number of misses and errors. My latest instructions now say that Chase will not fund the loan if any initials are missed. This was discussed a day or two ago. It is the reason I check every single page for initial lines, if it's there, it gets initialed. Borrowers think it's redunant and I agree, but if they want their loan to fund, initial it.

Reply by NJDiva on 3/29/11 7:12pm
Msg #377884

Re: venting...it's gotta be a Chase loan

It's not overkill if the financial institution wants it that way. It's really not up to us to decide what's overkill. I'm assuming that any instruction they have in place is there for SOME reason. SOMETHING had to happen for them to insist it be initialed. I don't really care why.

In fact, I don't take any chances. If even one page of a particular document gets initialed, i.e. the W-9, 1003, DOT, Note, etc., etc., ALL the pages of that doc get initialed whether there is an initial line, signature or even nothing at all. I say I like to keep it consistent.

Now I don't do that for the whole package, just for doc's that have at least one initial in their individual document.

MHO

Reply by ArtG/KS on 3/30/11 9:19am
Msg #377949

Re: venting...it's gotta be a Chase loan

Oh it feels like ten years ago. I had a CHase signing recently whereby the title company asked for every page of the entire package be initialed. Apparently they are having problems on certain docs, but decided to make borrower initial every page of the stack.

I could only shake my head at that. The same lender Chase sent another signing by way of a different title company, and I did not have the same instruction. Amazing. But this day and age in this business directions are directions if want to stay in this.