Posted by pat/WA on 3/15/13 3:05pm
Msg #461380

Trustee

When you have the borrower sign the DOT at an individual and as a trustee do you also have her initial the pages both ways?

Reply by Linda_H/FL on 3/15/13 3:09pm
Msg #461381

Re: Trustee - ask title/hiring party how THEY want it done n/m

Reply by Shoshana/AZ on 3/15/13 3:57pm
Msg #461397

I never take it upon myself to decide that! n/m

Reply by pat/WA on 3/15/13 5:23pm
Msg #461419

Did That

I called the hiring party for instructions. In the meantime the borrower called her loan officer. He asked to speak to me and proceeded to tell me it was my job to complete the trustee forms and if I was not competent enough he would hire someone else.
My blood pressure is still going through the ceiling!

Reply by JimAZ on 3/15/13 5:56pm
Msg #461425

Re: Did That

Refer him to an attorney at $350 to $500 per hour. I always call the hiring party on a trust. Had one the other day that wanted trustee after every signature except note, RTC, TIL, and cert of trust. Note had two signature blocks,,,,one as an individual and one as a trustee. Hiring party wanted note signed as an individual in both blocks no matter what verbage was. Lots of variations on these and we don't make the decision. JMHO

Reply by Jessica/FL on 3/15/13 5:56pm
Msg #461424

???

Please clarify "initial the pages both ways".

Reply by pat/WA on 3/15/13 6:01pm
Msg #461426

Re: ???

As an individual and as a trustee. I had them initial both ways but had a problem with the Washington State Supplemental trustee forms. Service Link was able to help me out.
The loan officer was a jerk. I think because he didn't know the answer.

Reply by Jessica/FL on 3/15/13 6:06pm
Msg #461428

Re: ???

In CA, I have never had to have someone initial as a trustee. I am not sure of the requirements in WA.

Reply by pat/WA on 3/15/13 6:28pm
Msg #461431

Jessica

I don't know and couldn't get an answer so I had her initial as trustee. My big problem were the Washington State supplemental trustee forms. I had a hard time getting any answers from anyone and it was a form I had never seen.
Melanie at Service Link came to my rescue.

Reply by MW/VA on 3/15/13 8:42pm
Msg #461451

Always check with your hiring party with questions like

that. I've never had them sign with "initials both ways". It's the same person, after all, just signing in different capacity.

Reply by Claudine Osborne on 3/15/13 9:20pm
Msg #461460

Re: Always check with your hiring party with questions like

I have an email in right now to a TC asking how they want their docs signed with or without the word trustee? Its not my call to make!

Reply by ikando on 3/15/13 9:55pm
Msg #461467

Re: Always check with your hiring party with questions like

And then you get instructions like I did..".borrower may or may not sign as trustee.". Huh?

Reply by Scriba/NM on 3/15/13 9:29pm
Msg #461462

Notary Signing Agents are supposed to know how to handle signatures on documents where trusts are involved. Learn what a trust is and how individuals/Trustees and Settlors sign. It's all in the wording below the signature.

Your answer is: You do NOT initial "both ways" when initialling a page where the borrower signs as an individual and in his/her capacity as a Trustee or Settlor.

Notaries need to read up on the verbage used on loan documents where trustees are involved. The rules for signing are not complicated, but you have to understand WHAT the words MEAN. When you follow the rules, you don't need to "call the lender" or anyone else.

If you don't know how to handle trusts, then you don't belong in the industry.

Reply by NVLSlady/VA on 3/16/13 9:59am
Msg #461519

Spent many years in the banking industry and not one day goes by when I don't hear/learn something new. I will agree that a prerequisite for "belonging" to an industry is a willingness to educate yourself since "rules" are always changing. And the interpretation for those rules can be misleading at times. That said,

Mr. Wedertz, suppose you kindly share with us where you got your trustee training - as it relates to legal documents? Ex.: "read up on the verbiage used on loan documents where trustees are involved."