Posted by reba on 6/23/12 5:07am
Msg #424403

missing initial

Guidance appreciated. For a NY refi, all loan docs listed John Doe. The passport listed John Doe. Loan signing completed. The BO decides that he wants to be sure that the check is disbursed to a specific bank account, so lawyer tells us to include a voided check to show bank info. BO gives me a check that says John X. Doe. Of course he says, "I never use it" (his middle initial) Should I include John X. Doe on name affidavit as aka?Or is this an issue for which all the loan documents should have been changed w/ title co. Will this addition to the aka change the need for name requirement throughout the loan doc through lender/title?

Reply by VT_Syrup on 6/23/12 5:47am
Msg #424404

People are free to make contracts without their middle initial. If this is a refi, it's probably safer to have the name on the new documents match the name John took title as. If he took title as John Smith, that's great, because licenses seem to moving towards dropping middle names and/or initials so that may make it easier for him in the future. I don't know about the name affidavit.

Reply by MonicaFL on 6/23/12 6:45am
Msg #424406

Many times I get various names on the name affidavit. If there is a "name" that isn't listed but the borrower has at one time either used it or it is actually really part of his/her name, I always have them list it on the name affidavit. Then again, I get names on there that are NOT nor have they EVER been their name and I have them put one line thru it and write N/K/A (never known as) next to it. From what I understand (now, this may be wrong) but I have been told that they pull these names off of the credit report. Don't know if that is true or not. But, anyway, that's what I would and do do.

Reply by MW/VA on 6/23/12 7:54am
Msg #424411

IMO many notaries over-react to the variations in the borrower's name. Include it on the name/signature affidavit it that makes you more comfortable. In VA full names are on the D/L's, and I usually include those on the affidavit.
As a reminder, all you need to do as a notary is be satisfied that the person is who they say they are.
How they hold title to the property & the name appears on the loan docs is not up to us.

Reply by sigtogo/OR on 6/23/12 10:14am
Msg #424413

it is never a notaries call to add names to the affadavit

IMO you have done your job by completing the documents as presented. It is not your call to add anything. If you want to call SS, title, lender, whoever sent you the docs out of courtesy to inquire if a name should be added, go ahead but not necessary. Of course, if its a glaring mistakes, then I do call, such as the aka I had the other day with three name variations all run together on one line.
yes, name variations do come from the credit report and also title searches. all it takes is for a creditor to misspell when running credit and presto, you have a new name : )
have a great weekend!!

Reply by sigtogo/OR on 6/23/12 10:35am
Msg #424417

of course, it goes without saying, name variations may come

from the borrower completing 1003 as well : )

Reply by MW/VA on 6/23/12 2:07pm
Msg #424450

" it is never a notaries call to add names to the affadavit"

That's your opinion, right, since I've never seen a "rule" like that anywhere.
I've already stated what I do & have never had a single complaint about it.
I routinely add the name as it appears on the ID, as that covers me.

Reply by MistarellaFL on 6/23/12 2:36pm
Msg #424452

Same here, Marilyn n/m

Reply by Clem/CA on 6/23/12 3:51pm
Msg #424454

Re: " it is never a notaries call to add names to the affadavit"

By you adding a name to a doc you are helping create that doc... ummm sounds like, could be, perhaps is UPL. You might not get caught for it, but I would not do it. I'm funny that way. If the borrowers do it, well, that's another story....

Reply by sigtogo/OR on 6/23/12 4:26pm
Msg #424457

Marilyn: of course its my opinion-says just that in my post

but for the record, I never post others opinion without quoting : )
1. the "rule?" good question. Is there a rule somewhere that says a notary signing agent is given the responsibilty of filling out documents? I am always open to education.

As Clem said, and I quote "By you adding a name to a doc you are helping create that doc... ummm sounds like, could be, perhaps is UPL. You might not get caught for it, but I would not do it. I'm funny that way. If the borrowers do it, well, that's another story...." I agree.

2. I did not comment on your post and had no quibble with your handling of your docs. I was responding to the OP.

3. How does your adding the name as appears on the ID "cover" you? would you clarify please?
having a great day here in River City... hope you are too : ) Donna

Reply by sigtogo/OR on 6/23/12 4:29pm
Msg #424458

seriously? no comments on my spelling? you're slipping!! n/m

Reply by HisHughness on 6/23/12 11:01am
Msg #424419

Rule No. 1 of the Hugh Nations Closings Manual:

1. Never make things more complicated than necessary.

If a name is not listed on the signature/name affidavit, why would you complicate things by adding one? What you are having the borrower do is swear that he/she is known by that name -- and if there is another John Q. X. Doe out there listed on the sex offender registry with four warrants out and 14 unresolved debts?

The attention that lenders pay to that affidavit varies. Some will add every conceivable variation of the name plus any misspellings they have gleaned from credit reports, traffic citations, kindergarten report cards and restroom wall grafitti. Some, like Quicken, list ONLY the signing name, and ignore everything else, including maiden and previous married names.

My advice: Go with the Quicken approach. Keep life simple. That means, in other areas, if you are single stay that way. And if you are married, for heaven's sake stay <that> way.

Reply by MikeC/TX on 6/23/12 5:06pm
Msg #424462

I don't see why this is even an issue

The name on the checking account has nothing to do with the name on the docs - he's just telling them what account he wants the funds to go to. Theoretically, that could be in a completely different name altogether - if title or the lender has a problem with it, they'll work it out with the borrower.

It's neither your problem nor your responsibility to provide additional AKAs after the fact, so don't create extra work for yourself...