Posted by TamaraCA on 4/16/13 10:11pm
Msg #465990

Who signs the Loan Submission Summary?

I could not find a former forum discussion on this topic. I have a signing in the AM and need to know who signs this form? The loan docs have every name of who needs to sign what except on this form. Please Advise... I even looked in my training course material and this doc is not listed.

Thanks in advance!

Reply by TamaraCA on 4/16/13 10:39pm
Msg #465991

Hello, Is anyone out there? n/m

Reply by Doris_CO on 4/16/13 10:44pm
Msg #465992

Tamara, I'm not familiar with the title of the form. Can you give a brief description of the form and maybe that will help others answer your question.

Reply by docs1954CA on 4/16/13 10:46pm
Msg #465994

Message Deleted

This message has been deleted by a forum moderator.

Reason: Author Request - Special Exception

Reply by TamaraCA on 4/16/13 11:08pm
Msg #465996

Re: I would think that would be the Sett. agent signing that 1.

The form says at top:
'The loan information section is required to be fully completed. Missing information will result in Loan Suspension.'
It looks like some kind of suplimental form from WF since it is a loan brokered by another mortgage firm. It has Loan information which is not filled out completely. Only the borrowers name is listed there. 30 year fixed is checked off. And at the bottom it 'affirms that all answers and info are true and correct and that the lender can 'rely' on the information.

At bottom it says:
Contact Name:
Email Address:
Signature: ... Date:

I assumed the same that the title officer or Loan officer would sign this. But, just incase I want to make sure the borrower does not need to sign it.

Reply by TamaraCA on 4/16/13 11:13pm
Msg #465998

Ooh... I forgot one more thing.

On the bottom it says "I hereby authorize XX(lender), at its discretion, to verify the information with any other sources."

That is the line that makes me think the borrower needs to sign??

Reply by docs2go/ca on 4/16/13 11:16pm
Msg #466002

Re: Ooh... I forgot one more thing.

If it's a Lender Doc, I'd call the Lender in the morning and verify.

Reply by JanetK_CA on 4/17/13 4:02am
Msg #466011

Re: Ooh... I forgot one more thing.

You more or less have a 50/50 chance of being right, regardless of what you do - unless you ask the party that hired you. You can't go wrong following their directions.

Reply by jba/fl on 4/17/13 6:25am
Msg #466018

A CYA method would be to have a second copy of this

and have the BO sign, attaching a sticky note saying you didn't know if. Then also send a blank form, the second copy, and they will choose the one they want.

Of course, if you were contacted in time, do as suggested.

Reply by Moneyman/TX on 4/16/13 11:30pm
Msg #466004

I agree with docs, NOT one for you, as the NSA, to sign. n/m

Reply by BrotherOwner on 4/17/13 5:10pm
Msg #466103

Funny you should ask the question. I just completed a signing with the same doc in it, and I had the same question. Passed it the 1st time through at the table but did have BWR sign it because of stmt. on 2nd page by signature which only says " Contact Name". I plan on using the CYA method. It is ambiguous.

Reply by TamaraCA on 4/17/13 6:12pm
Msg #466110

Well, I'm glad I am not the only one that was stumped...

Thanks for all the advice! The signing went great early today. The Realtor said I was the best notary she had ever worked with and hugged me when I left. (Many thanks to my banking career and to all of you in this wonderful forum on NR!!)

I called and asked the signing agency that hired me and he was also stumped by the LSS form. So, I brought two forms and had the borrower sign one just to be safe. I also sent a blank copy with a sticky note explaining. We even called the lender at the signing and they didn't even know who was supposed to sign the form... So, I will make it a point to find out if I can and let you all know.

Reply by ReneeK_MI on 4/18/13 6:15am
Msg #466173

I read the form (isn't Google amazing?) ...

... and I'm ready to place my bet that it is the originating broker signs. It looks like a fairly standard loan submission form - each wholesale lender has their own version. It's a 'cover letter' that is used when a broker submits a loan to a wholesaler, and usually has a checklist with it of items included in the submission. Since I love to bet when all I stand to lose is face & not dollars - I'll bet it came with the broker docs, and was sent to the table by a processor who didn't know what it was - but saw it wasn't signed.