Posted by Bob_Chicago on 11/6/12 8:58am
Msg #442338

Just when you think that you have seen it all...

Had a signing recently with a non-borrowing spouse. Ok, no biggie.
NBS name was on standard NBS dox in small, type and different font. Not unusual.
When I get to NOTE , NBS's name was there also.
They understood , but NBS signed to note also, with no hassle.
NBS ws not on 1003, W-9, 4506 etc, etc.
Hey, our's not to reason why...
Must have been a boo-boo by someone, but would not be surprised if it funds with no problem.

Reply by Linda Juenger on 11/6/12 9:13am
Msg #442341

Did you question this with hiring party? I would have tried to see if this is really was correct and what they wanted. JMO If I couldn't reach anyone, then they sign where their name is typed. You're right "our's not to reason why"

Reply by MW/VA on 11/6/12 10:05am
Msg #442349

I would have called immediately. The NBS doesn't

sign the Note. They're not a NBS anymore! ;-)

Reply by VT_Syrup on 11/6/12 10:27am
Msg #442356

The word "seal" near the borrower's signature matters

With an ordinary contract, if the borrower doesn't get any consideration, that is, money from the loan, they are not bound even if they sign. But if the contract bears the private seal of the signer, they are bound even if they don't get anything. That is what the word "seal" means near the signers signature.

However, this is highly state dependent. Some states have done away with private seals, or they don't operate as they traditionally did under common law.

Reply by Linda_H/FL on 11/6/12 10:41am
Msg #442357

Good grief - how about just plain english?

A non-borrower or non-borrowing spouse doesn't sign the note...period.

IMO the note should have been revised removing the non-borrower - not signing the original one gives it the appearance of an incomplete signing (at first blush). The note will have to be resigned without non-borrower signature. It's fairly obvious, at least to me, that since the type on the note is different it was added as an afterthought - and added incorrectly.

JMO

Reply by CentralNY on 11/6/12 11:12am
Msg #442363

Bob, I see a lot of errors lately

in all shapes and sizes. someone didn't know what they are doing and no quality control.

Reply by ikando on 11/6/12 11:54am
Msg #442366

Re: Bob, I see a lot of errors lately

I recently had a closing with NBS, but she was on the deed/mortgage. Her name not present on the usual docs. Called LO who said, "the bank prepared docs, and they should be right, but I'll check". He called back and told me to have her sign the docs that spouses usually sign. Good thing I knew which ones he meant.

Reply by sigtogo/OR on 11/6/12 1:23pm
Msg #442371

I would not make this call to execute docs that lender did

not specifically state they wanted NBS to sign. I'm glad you know which ones but my experience has been that the docs often have some variation from lender to lender, TC to TC, and I don't feel it is my place to make that determination-no matter what I know. We are not hired nor paid to make that kind of a decision. IMHO

Reply by parkerc/ME on 11/6/12 1:47pm
Msg #442377

Re: I would not make this call to execute docs that lender did

I agree with Donna. Not your call to have spousal docs signed if they are not already set up for that. I'm not in a spousal state, so really NBS's are not required to sign anything. Just depends on the lender. I get some that are prepared for NBS signatures...some that aren't. If sig lines aren't there, I'm not having NBS sign anything. I QC my own work and the only QC I do for title or lender is to ensure I have all the critical docs (and as was mentioned in another post, that NBS is not on the Note). I do only what is required to correctly perform my job.

Reply by sigtogo/OR on 11/6/12 1:19pm
Msg #442370

exactly Linda! non-borrowing spouse doesn't sign the note n/m

Reply by JanetK_CA on 11/7/12 1:58am
Msg #442464

Re: exactly Linda! non-borrowing spouse doesn't sign the note

And yet, I've seen a situation where one did - and for what appeared to be a valid reason. The property was in a trust, and while the wife wasn't a borrower, she *was* a trustee, so at least for that particular lender, they wanted her to sign as trustee only. The husband signed both as borrower and as trustee. I don't recall the exact verbiage, but the signature line did include some reference to the fact that she wasn't signing as a borrower, but as trustee only.

I should probably add that the norm would be for the NBS to NOT sign. The example I just gave is the only time I've seen anything like that in all the thousands of signings I've completed. (But not nearly as many thousands as Bob has, though... )

Reply by BrendaTx on 11/6/12 1:26pm
Msg #442372

Bob has done like 8 million signings...

what do you think he should have done differently?

Reply by sigtogo/OR on 11/6/12 1:56pm
Msg #442379

8 million, wowzer! I would do as he did if I could not reach

anyone to say otherwise.

Reply by BrendaTx on 11/6/12 2:02pm
Msg #442380

Or, some really high #.

I was curious what others would do in his shoes.

The key word (to me) that he used was "fund". They can fix a lot of issues with documents after the documents are signed. Plus, the note does not have to be notarized. The borrowers can sign it and mail it in.

While we all know that an NBS doesn't sign the note, but my personal opinion is that isn't our job to decide. If I could call title, I would, or let them know post-signing.

Bob, if you know later how it turned out, let us know!

Reply by MW/VA on 11/6/12 2:35pm
Msg #442389

Yes, he's the grand poobah of notaries, that's for

sure. I don't know how he does those #s.
I wouldn't have had the NBS sign the Note, and would have made sure to call someone about it. I do believe it is our call to make when we know a blatant error has been made.

Reply by Bob_Chicago on 11/6/12 3:42pm
Msg #442404

Thank you, Brenda, but it has only be about six

and a half million.
Tried to call, but was too late.
It is a universal truth that an extra signature,(especially if name is printed on dox) will not
cause a non-funding. A missing signature on a critical doc, such as the note, will in all cases
mess up loan funding.
She was actually referred to as a "non applicant". Her name was not on 1003.
An extra sig is much better chance of funding than a no-sign.
Obviously a boo-boo in doc prep, but probably not a fatal boo-boo

Reply by Bob_Chicago on 11/6/12 3:44pm
Msg #442405

BTW, spoke to title today and they said "I done good. " n/m

Reply by BrendaTx on 11/6/12 4:06pm
Msg #442407

Love you and sue/pa for all your advise over the years. n/m

Reply by BrendaTx on 11/6/12 4:06pm
Msg #442408

ADVICE!!! I MEAN ADVICE!!! n/m

Reply by MW/VA on 11/7/12 8:01am
Msg #442484

Thanks, that's good advice. n/m

Reply by 101livescan on 11/6/12 1:51pm
Msg #442378

They are working just as fast as they can with high error rate. I received a Providant loan yesterday with a duplication of documents in the package. I know these front and back and can do in my sleep, so I definitely knew this was a screw up, and separated them out. You know, Picky Providant with zero tolerance for errors!