Posted by BarbaraL_CA on 5/24/11 10:23pm
Msg #384236

CA Per Diem Interest Disclosure

8 yrs of signings and I have NEVER seen one of these quite this way - usually there is an Option-1 or Option-2 box to check for 1-day interest (or more) and the borrower signs.

However, this one just has the amount of interest per day, the borrower signs and underneath it says: "CERITFICATION - I certify (or declare) under penalty of perjury under the laws of the State of California that the foregoing is true and correct."

_________________________________________
Authorized Agent of Lender - - Date



Who is the "Authorized Agent of Lender" ? Is that suppose to be the notary?

Reply by LKT/CA on 5/24/11 10:38pm
Msg #384238

A CA notary would not calculate per diem interest (or anything else) on loan docs. We have the loan docs for only one reason - to get them signed and signatures notarized where appropriate.
Someone who works at or with the lender should sign that but not the Notary. MHO.

Reply by BarbaraL_CA on 5/24/11 10:50pm
Msg #384239

Thanks - that what I think also - never worked for this Title Co. before

Reply by elliott/tx on 5/25/11 2:30pm
Msg #384288

"authorized agent" is definately not the notary.....there must be someone at the lender's office that signs these. not for you, don't worry :-)