Posted by JerryhFL on 1/31/13 8:06am
Msg #453217

Closing Question

I did a closing a couple of weeks ago where there was a borrower and co-borrower. They were not married to each other.

Each one had their own Form 1003 and were listed as the borrower on their own 1003, (no one was listed as a co-borrower on either 1003). I had each one sign their own 1003 as the borrower.

I was asked today to go back and have each person sign their own 1003 as the borrower and have the other person sign as the co-borrower (even though they are not named on the 1003.

I have had this situation before and had borrowers sign only their own 1003 without a challenge from the lender or title company.

If you have had this situation, how have you had them sign?

Reply by jba/fl on 1/31/13 8:17am
Msg #453218

As you did. I would not have known to do as requested unless they stated this in the instructions.

Do you still have the docs? Lender instructions? Might look there to see if stated there.

Scratching my head on this one.

Reply by Donna McDaniel on 1/31/13 8:21am
Msg #453219

Well, that's just silly, IMO.

Unless it was in the instructions, I would have done the same. Why would anyone have a doc signed by someone not named in it?

If that's what they want, fine. I would charge them for the extra trip.

Reply by CopperheadVA on 1/31/13 8:56am
Msg #453224

The only way the notary could have/should have known to have the other person sign as co-borrower is if that person was listed on each 1003 as co-borrower. Sounds to me like that was NOT the case - if the co-borrower info was blank on each 1003, then hiring party owes you another fee to go have that taken care of.

Reply by Jason Adams on 1/31/13 11:05am
Msg #453255

I have worked for a title company for 13 years now and am also a notary. It's NOT the notaries responsibility to know who signs what if their name isn't listed on the docs unless it's in the closing instructions or the signing service makes you aware prior to closing. I would charge another trip fee to get this taken care of if the title company can't do it themselves. If I were the title company I would email the borrower the documents (as the 1003 doesn't need to be notarized) and a prepaid UPS label for them to return the documents to me. I may even do that if I were in your shoes, depending on how quickly it needed to be done.

Reply by Bear900/CA on 1/31/13 11:06am
Msg #453256

See Renee's message at the vottom of Msg # 242220

It makes the most sense and I agree.

Reply by Ali/IL on 1/31/13 11:24am
Msg #453259

If they are not married and there are two 1003's I would have them each one sign their own. If there was a coborrower then the coborrower would sign on same 1003.
You need to charge them to go back . Or since that doc doesn't need notarizing then they can just send it directly to the borrower.