Posted by EileenMO on 10/6/11 6:16pm
Msg #399827
Loan app
I am doing a loan app tomorrow night for a VA loan. Anything to look out for? Haven't done one in a while, and never done a VA. Do I have the borrowers fill in all the blanks on each page that does not have info in them? Thanks.
|
Reply by MW/VA on 10/6/11 8:25pm
Msg #399842
I hope you're getting a decent fee for that. Those VA RESPA's can be almost as many pages as a full signing & take almost as long, even though there are no actual notarizations. I've also found that many of them don't go through & I don't end up with the signings as promised. Good luck.
|
Reply by Jessica Ward on 10/6/11 8:28pm
Msg #399845
Agreed, they take a long time. One thing to look out for
The "VA Addendum" to the loan application (1003). There's two attachments to that. I forget the name of them just now, but one has a signature halfway down the page and another at the bottom of the page. Impossibly small print usually. People usually miss the signature in the middle.
On the next attachment to the loan app, there's a box in the middle of the second page for signature.
There's usually a "nearest living relative" page that has to be filled out. If they didn't include it, it will be in the final closing package.
|
Reply by MW/VA on 10/6/11 8:34pm
Msg #399847
Good point, Jessica. Apparently, a lot of notaries miss
those 2 places that have to be signed on p. 2 of the VA Addendum application. I do a lot of VA/FHA, so it's SOP for me.
|
Reply by Jessica Ward on 10/6/11 8:41pm
Msg #399849
Two part applications are the worst
We're near a couple of big bases here. Several times now I've received docs from another notary to go and finish the app with the other half of the couple, only to find the other notary missed those.
I see a lot of VA/FHA too, when I first started, they made me nervous (and blew my paper/toner budget out of the water) but now I'm used to it--and I typically enjoy working with military and former military clients (not a lot of crazy cat-houses--my biggest pet peeve).
I've never had a VA loan or app in hand and walked into a house with 10+ cats. <Grin>
|
