Posted by JanetK_CA on 10/31/11 3:02am
Msg #402230

Here's a new one for me...

I've got a package where on page 4 of a letter-sized 1003 (the page where the LO signs) in the boxes where the borrowers are supposed to sign, their names are typed in, using a font that looks sort of like a signature (but no date). At first I thought it was a sample page (I'm seeing more and more of those these days, sadly), but that was the only one of that page. I've seen instructions from some companies admonishing the notary to make sure that the borrowers sign inside the boxes on these, but as sent, there is no room for anything. (There's also a very tiny time and date stamp under the faux signature.)

I'll be checking with my client in the morning, but has anyone ever seen this before? I just find it very strange! (And FWIW, these are docs generated using DocMagic.)

Reply by Notarysigner on 10/31/11 7:50am
Msg #402232

Morning JanetK yes I have seen that as well, in my case I just let it be.

Reply by GWest on 10/31/11 8:09am
Msg #402236

My guess is that it was originally signed electronically, using DocuSign or some other program. They may now want a wet signature.

Reply by Yoli/CA on 10/31/11 3:25pm
Msg #402289

Had a signing at bank branch with LO and realtor present. I was pleasantly surprised when realtor provided completed Statement of Information. It was, however, digitally signed. No problem. Just had borrowers wet-sign next to digital -- this form had sufficient space for signatures.

In your case, I think I would have them sign just above the e-signs.

(Let us know what your client says)

Reply by JanetK_CA on 10/31/11 6:55pm
Msg #402316

We made an extra copy of that page and returned one as is and they signed a second one just above the signature line. I found out that they did their application, and what I presume were preliminary disclosures, online with some electronic signatures. In fact, they mentioned that they were surprised to see so many hard copy pages to sign after going through all that. (And the Mrs mentioned that she ended up printing out 60 pages after doing the online portion - done prior to my visit. She didn't sound too happy about that.) We'll just let the lender choose what they want.