Posted by COpink on 2/28/13 10:16am
Msg #458412

BO not listening to me when I say...

Sign your name exactly as it appears on the typed line below. Had a guy signing his shorthand and caught him early on. We had to re=sign a few documents but I missed one. GRRR!!

Second closing yesterday I again say sign exactly as your name appears on the line below and she signs all the documents with her middle initial (which was not included). Which I didn't notice until I got home. GRRR!!!

I repeatedly said it at both closings too. What do you do in this case? I faxed it in and have not heard anything back yet. What usually happens? Do companies stop calling you? Both were LSI.

Borrowers - 2 Me - 0

Reply by Shan/CA on 2/28/13 10:19am
Msg #458413

You must PAY ATTENTION. Be prepared to swap out the BO copies and have them resign. As far as what happens, I'm not sure, but slow down! You don't want your fee reduced, and you don't want to lose the client. Good luck!

Reply by COpink on 2/28/13 10:24am
Msg #458416

I do go slow for this very reason. I can't tell you how many times I've switched out my copies with the BO copies. I'm super conscious when I am at closings and try not to talk to the BO just so I can pay close attention. Because I am afraid of losing my good clients. *sigh*

Reply by Gregory/CA on 2/28/13 10:35am
Msg #458421

I tell people that lenders want the documents to be signed as their name is typed. I always get the response, 'that is now how I sign my name'. I acknowledge their statement and reiterate the request of the lender and explain that it is the lenders policy. I then inform them, I am not here to force you to sign a certain way; however, if you sign differently, then the loan may or may not fund. The choice is yours.

If they have an unreadable signature, I ask them, does this signature represent the entire name as typed on the document. Once they say yes, then I am good to go.

I am not sure about LSI's policy, but as of this date, I haven't had anything come back regarding the signature.

Reply by COpink on 2/28/13 10:57am
Msg #458428

Thanks Gregory. I called the borrower to get a re-sign since it is vastly different from the other documents but haven't gotten hold of them yet.

Reply by Carol Graff on 2/28/13 11:03am
Msg #458430

I had an irate borrower last week say to me "I'm not going to let a notary tell me how to sign my name." Fortunately, it was the same lender refi--so I told him it might be rejected--but he did what he wanted to do and I have not gotten it back. Had another one that same week that refused to sign the proper way. Would it kill these LO to ask then how they wanted to be vested???? GRRR!

Reply by COpink on 2/28/13 11:10am
Msg #458435

Wow. Agreed though Carol! I spoke with the borrower and he refused to let me come fix the one document. He said and I quote "I'm not a perfect person. It's not who I am. That is how I sign my name and I'm tired of trying to make things perfect for everyone else. Send to them." I suppose if they call me, I can tell them that. Would it kill BO just to sign how we request?

Reply by jba/fl on 2/28/13 11:56am
Msg #458457

Write your hiring party and replay what the BO said to you on that particular document. That is heading them off at the pass.

I never try to force BO to sign what is not usual and/or customary for them. If it looks like what is on their DL, we are good to go, middle initial, first name as initial, and so on. If their name is Samuel P. Goldsmith and they sign on their identifying documents, I am Sam, that is what is usual and customary for them, and that is what they sign. I've only been questioned once in 13 years and the signatures stood as signed.

Reply by Leona Greenlow-Turner on 3/1/13 1:11pm
Msg #458761

That's exactly what I've been asking n/m

Reply by Eric Andrist on 2/28/13 11:15am
Msg #458439

That's why I love people who have illegible signatures!

Reply by COpink on 2/28/13 11:17am
Msg #458441

HAHA!!! Me too!

Reply by Karla/OR on 2/28/13 12:59pm
Msg #458478

"I acknowledge their statement and reiterate the request of the lender and explain that it is the lenders policy. I then inform them, I am not here to force you to sign a certain way; however, if you sign differently, then the loan may or may not fund. The choice is yours."

Thanks Gregory - l will use this phrase for future signings. They always want to sign the way they want to. This should help get past that rather quickly!

Reply by GOLDGIRL/CA on 2/28/13 1:11pm
Msg #458485

Perfect, Gregory! n/m

Reply by doglover/CA on 2/28/13 4:44pm
Msg #458553

One loan officer told me that a signature which is an unintelligible squiggle is acceptable if the borrower signs consistently with that squiggle.

Reply by SharonMN on 2/28/13 11:33am
Msg #458448

I find it helpful to actually read the signature block out loud the first time: "Please sign as your name is typed below - so John A. Smith." or "3 initials here, please - first, middle, last so JAS."

Otherwise I don't try to act as the signature police unless the signature is very neat and clearly doesn't contain the required elements. If the sig looks like J__________ I don't care.

Reply by Natacha Joseph on 2/28/13 12:54pm
Msg #458475

It's doubtful they will be considered errors that will stop the presses. More than likely, they won't be detected so don't worry. Companies are moving mountains of paper due to EOM and being just plain busy.

Maybe it's because they're inundated with a lot of info within a short period of time, not sure why...but like you said, borrowers don't always get the part about signing exactly as their names appear. Some companies will accept their 'signature' altho it doesn't match what's printed under the signature line. Other companies are insistent on "as their names appear." In those instances, I've taken to having borrowers sign their copy of the name affidavit first. Then the negotiations begin if the signatures will pass, we're good to go. If they're insistent on deviating from instructions then we go back and forth until I win -lol. As stated, illegible sigs are the best.

You've gotten great advice from everyone. Good luck in squaring it all away. Everything will turn out fine. It always does in the end.

Reply by Mung/CA on 2/28/13 1:07pm
Msg #458482

I too allow them to sign as thay usually do..........

Never had one come back yet. Also, often times some borrowers such as (and I don't mean this to be racist or politically incorrect!) people of East Indian or Hispanic decent (sp) simply can not cursively sign their names. Some even go as far as basically just printing their names. When this happens I just include a note with the docs explaining the situation. We are there as impartial witnessess after all!

Reply by jba/fl on 2/28/13 3:45pm
Msg #458537

Can someone explain to me why

"I've taken to having borrowers sign their copy of the name affidavit first."

Why is this considered some sort of magic bullet to pass muster on the signature? I'm jus t not following the reasoning here. You are not the only one, NJ, there are others jumping on this as though it were the second coming. I am just not understanding this reasoning.

Reply by Jessica/FL on 2/28/13 2:34pm
Msg #458514

Signature Affidavit

In many packages, there is a signature affidavit. This resolves many issues.

Reply by jba/fl on 2/28/13 3:46pm
Msg #458539

How does this resolve issues? n/m

Reply by Jessica/FL on 2/28/13 4:13pm
Msg #458541

Re: How does this resolve issues?

Since that is the borrowers legal signature, the lender can look at the signature affidavit.

Reply by jba/fl on 2/28/13 4:18pm
Msg #458543

The lender can look at the ID also. Try again. n/m

Reply by Jessica/FL on 2/28/13 5:04pm
Msg #458557

Re: The lender can look at the ID also. Try again.

Signature Affidavit- This is to certify that my legal signature is as written and typed below. (This signature must EXACTLY match signatures on the Note and Mortgage or Deed of Trust.)

Reply by BrendaTx on 2/28/13 6:15pm
Msg #458585

Re: Signature Affidavit

I tend to agree with jba...I think that you have it backwards. A signature affidavit doesn't do a whole lot for a notary.

Maybe I don't understand your line of thinking.

Reply by doglover/CA on 2/28/13 4:41pm
Msg #458551

I find that borrowers get the message if I tell them that Michael J. Fox's loan may not fund if he signed his papers as "Michael Fox" or tell them about the borrower who told me he had to resign all his loan papers because he signed them "John Jones" while the signature lines were underscored with "John Paul Jones".

Reply by Linda_H/FL on 2/28/13 9:28pm
Msg #458637

"re=sign a few documents but I missed one."

"Which I didn't notice until I got home"

This is where your at-the-table quality control check comes in handy. Never forfeit that 5 minutes after the fact to make sure all is in order.

JMO

Reply by COpink on 3/1/13 9:20am
Msg #458682

I do a quality check always!! I was taught that from the very beginning. I am chalking this up to experience to watch the BO more closely as they are signing and to check the first few documents after they hand them over. I tried to get the situation resolvd but the BO would have none of it. When I tried to call client services, no one answered or called me and I left 3 messages. Hopefully I won't lose a great client over it.