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Excessive signatures in loan docs these days.
Posted by PETER LUSBY of CA on 5/10/05 12:51am Msg #36837
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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Messages in this Thread
 Excessive signatures in loan docs these days. - PETER LUSBY on 5/10/05 12:51am
 Re: Excessive signatures in loan docs these days. - kt/ca on 5/10/05 1:07am
 Wow! Did they also require fax backs? n/m - Happy in Fl on 5/10/05 1:41am
 Re: Excessive signatures in loan docs these days. -  PAW_Fl on 5/10/05 8:52am
 Re: Excessive signatures in loan docs these days. - Stephen_VA on 5/10/05 7:32am
 Re: Excessive signatures in loan docs these days. -  PAW_Fl on 5/10/05 8:49am
 Re: Excessive signatures in loan docs these days. - Veronica_ca on 5/10/05 9:11am
 Re: Excessive signatures in loan docs these days. -  PAW_Fl on 5/10/05 3:10pm
 I was just aggravated about the same thing! - Victoria/FL on 5/10/05 10:00am
 Re: Excessive signatures in loan docs these days. - SarahBeth_CA on 5/10/05 11:35am
 Re: Sarah, did you get that call for Friday signing? n/m - ERNA_CA on 5/10/05 11:50am
 Re: Sarah, did you get that call for Friday signing? n/m - SarahBeth_CA on 5/10/05 11:55am
 Re: Sarah, did you get that call for Friday signing? n/m - ERNA_CA on 5/10/05 12:00pm
 Re: Sarah, did you get that call for Friday signing? n/m - SarahBeth_CA on 5/10/05 12:04pm
 Re: Sarah, did you get that call for Friday signing? n/m - ERNA_CA on 5/10/05 12:08pm
 Re: Sarah, did you get that call for Friday signing? n/m - SarahBeth_CA on 5/10/05 12:14pm
 Re: Excessive signatures in loan docs these days. - PETER LUSBY on 5/10/05 1:07pm
 Re: Excessive signatures in loan docs these days. - SarahBeth_CA on 5/10/05 1:34pm
 Re: Excessive signatures in loan docs these days. - ERNA_CA on 5/10/05 2:28pm



 
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