Posted by supersigner on 11/23/11 9:37am
Msg #404792

Printing of docs

I always print a copy for the borrower. However, I just shredded about 100 pages of print that was not used due to cancellations or changes. I am thinking of using the the 2 day old docs to give to the borrower along with a new Right to Cancel. The other docs should be the same but I will check the HUD to make sure the numbers are right..Anyone have any comments of this?

Reply by Linda_H/FL on 11/23/11 9:54am
Msg #404795

One comment...no

New docs provided - borrower gets copy of new docs. You can't scrutinize every word of every line of every doc to make sure that the new ones are identical to the old ones.

Instead of using old, stale docs in an effort to save a few pennies, charge a print fee for cancellations that you've already printed - then you're even. Or don't print too far ahead of time.

JMO

Reply by 1Notary1 on 11/23/11 10:14am
Msg #404796

Just charge a print fee. Most companies will pay you a printing fee under the circumstances. If they won't pay it, for whatever reason, just print a new set and learn a lesson from it. Giving the borrower old documents is a no no. That would be negligent and not a very good practice for a notary. Not recommended.

Reply by Doris_CO on 11/23/11 10:32am
Msg #404797

Some NSA's ask for a shredder fee in addition to the print fee for the cancelled docs. (You should be shredding them anyway).

Reply by Susan Fischer on 11/23/11 10:44am
Msg #404798

Adding to the list of Why Nots: Old docs are nullified by

new docs.

New docs = the only valid docs.

Reply by ReneeK_MI on 11/23/11 2:39pm
Msg #404826

Um ... you're scaring me a little!

So many little bits of data flow - change ONE thing, and it can affect all sorts of things. Change the date, now you have a totally new maturity date/settlement date & effective date - new interest adjustment, new TIL. Escrows might change, that changes a couple other docs. If any of those other loans were actually cancelled - could be a new loan number, and that's usually on ALL lender docs. Not to mention that while you might 'know' of ONE change, that doesn't guarantee that the lender didn't change something else YOU don't know about.

If you ever THINK you know absolutely that it's "... just this change, not that ...", cover yourself ALWAYS and ASK for a written directive.

Reply by LKT/CA on 11/23/11 7:24pm
Msg #404857

Re: Um ... you're scaring me a little!

Hi Renee, since you have a background in Escrow/Title, you can probably answer this questions for me. I did a split signing where the borrowers' rate lock was expiring that day. After I signed the wife, I started notarizing and she went out to get the mail. She came in, opened a letter from the lender that extended the rate lock another week and with that was another GFE. She and hubby were leaving town so our signing day was the day they needed to sign, though she appreciated the rate lock extension.

With the rate lock extension, would there be some change in the prepaid interest and therefore the GFE would reflect that (if borrower's signed a day other than our signing day)? The borrower compare that GFE with the one they originally got and saw no changes in figures.

Is it just a standard requirement to send a GFE when the rate lock is extended whether or not there would be any changes of any kind? HAPPY THANKSGIVING and do you know if there's a place that makes holiday dessert biscuits (pumpkin pie) for dogs? TIA

Reply by ReneeK_MI on 11/24/11 7:23am
Msg #404899

=) Rate expiration date is on the GFE n/m