I just (about an hour ago) wrapped up a loan signing - 1st & 2nd Tds, plus escrow docs. In all, I counted 157 places where husband and wife each had to sign. This included:
- 2 requests for TIN certifications and tax returns for each spouse (including all the IRS note pages), even though one of each, total, would have sufficed.
4 separate 1003 forms (initial every page, and sign 2 of them)
4 Signature/AKA affidavits
4 Affidavits of compliance.
In this particular case, the husband is blind and disabled and unable to sign, so the wife had power of attorney to sign for him, BUT she has arthritis in her right hand, arm ans shoulder. She had to sign her own name 157 times, and then "Jonathan Q Borrower Junior by Jane NMI Borrower, Attorney in Fact" another 157 times. The signing process took 3 hours!!!!!
There were a total of 28 notarial acts, plus 4 Patriot act certifications. This took another hour!
Admittebly this was somehting of an extreme case, but how can we get together and put pressure on the lenders and escrow companies to instil some sanity into the way they do things, so that these kind of absurdities become a thing of the past?
Answer here, or e-mail me. I'm serious about wanting to do whatever it takes to fix this problem, and I'll take all the support I can get.
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