Posted by Karla/OR on 3/24/13 3:35pm
Msg #462794
Signature(s) and Initial(s) on a doc . . .
I have been asked this question so many times by BO's: why do I/we have to both sign AND initial the same document page?
Looking for PC responses other than 'because I said so' (that's a joke). :O)
Thanks.
|
Reply by Marian_in_CA on 3/24/13 3:50pm
Msg #462797
Because *they* said so? 
In reality, that's pretty much it. The document designers ask for what they ask for... even it it makes no sense us.
Though, sometimes there are sections of a document that require initials. I recently signed a contract for car loan... and I had to sign one page 4 times and initial 3... all on one page. It seemed like overkill, but each section called for one or the other.
Now, there ones where there's an initial at the bottom for no apparent reason? Who knows, really.
I've heard some say it's a security precaution to prevent replacement of pages within a document... or some other reasoning for security or verification.
|
Reply by notarydi/CA on 3/24/13 6:51pm
Msg #462837
Re: Signature(s) and Initial(s) on a doc . . . n/m
|
Reply by Linda_H/FL on 3/24/13 4:29pm
Msg #462812
My answer:
Because it's required by the lender; they use this specific software program to generate your documents and that's how the documents are generated...so signatures and initials are required"
There's always the quote about the Golden Rule, too. 
|
Reply by Bob_Chicago on 3/24/13 5:35pm
Msg #462826
My personal favorite is initialing the signature page and
4 or 5 instruction pages on a W-9 followed closely by initialing the bottom of a signature page on a 1003.
A theory is that it got into the doc program by someone who has now left the company, and nobody knows how to delete it.
|
Reply by Stoli on 3/24/13 5:37pm
Msg #462828
My personal favorite: “Initial Page 3 of the 4606-T”. n/m
|
Reply by Stoli on 3/24/13 5:38pm
Msg #462829
My personal favorite: “Initial Page 3 of the 4506-T”. OOps. n/m
|
Reply by VT_Syrup on 3/24/13 7:08pm
Msg #462840
I made up this somewhat plausible reason, and don't know if my reason is shared by any lender or title company:
Someone who wanted to modify a multi-page document after the signer signed and initialed it could replace all the pages except the signature page, and then forge the signer's initials on the replaced pages. Even if the forgery of initials wasn't very good, they would at least look consistent. But if there were a "known good" set of initials on the signature page, then the forger would have to do a decent job of imitating the initials on the signature page.
|
Reply by Karla/OR on 3/25/13 4:09am
Msg #462868
I like your explanation. n/m
|
Reply by HisHughness on 3/24/13 9:03pm
Msg #462852
The reason is quite simple. Somewhere, in the bowels of the mortgage industry, there is a document creator who comes to work every weekday, wearing a belt -- and suspenders.
|
Reply by Karla/OR on 3/25/13 4:08am
Msg #462867
Had to think about that one for a second, and then grinned. n/m
|
Reply by Karla/WA on 3/25/13 10:52pm
Msg #463014
I understand some of this stuff doesn't make sense....so my response on these types of things is:
"it is what is it is.....it doesn't have to make sense......"
Also, if there are documents included in the package that don't pertain to the borrower, I ALWAYS allow the borrower to make a statement on the document, date and sign. I've never had any lender send this back to me.
for instance: Today, I had an Evidence of Joint application form......the borrower's wife died last year. He didn't feel comfortable signing this document as stated.
As a result, we wrote a note on the documents stating the loan was entirely based on his information.
He dated and signed that verbiage.
|
