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Re: Ditto...Same experience. Was told yesterday that
Posted by  VT_Syrup of VT on 6/28/20 8:12am Msg #621491
I don't pretend to know the details of the note e-signing that Alz mentioned in Msg #621489. I do know that notes are one of the trickiest documents to e-sign. This is because, in the paper world, to collect on a note, it must be properly assigned to the person or organization currently holding it (the creditor), and the creditor must have physical possession of the paper note. When the mortgage is paid in full, the physical paper note is marked "paid" and returned to the borrower.

Of course, electronic documents may be copied perfectly, and there is no way to distinguish the copy from the original. So some alternative electronic mechanism must be in place to keep track of who the creditor is at any instant in time. None of the usual office software we all use can do this; not Microsoft Word, not Adobe Acrobat, not DocuSign. If the lender and title company spent years establishing a proper note tracking system, good for them. If it's something they cobbled together one weekend to deal with COVID-19, there are storm clouds on the horizon.
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Messages in this Thread
 Has Quicken gone off the rails? - aanotary on 6/26/20 3:29pm
 Re: Has Quicken gone off the rails? - CST on 6/26/20 7:21pm
 Re: Has Quicken gone off the rails? -  Cheryl Elliott on 6/27/20 6:39am
 Re: Has Quicken gone off the rails? - pdl/cali on 6/27/20 7:31pm
 Ditto...Same experience. Was told yesterday that - Alz on 6/27/20 8:59pm
 Re: Ditto...Same experience. Was told yesterday that -  VT_Syrup on 6/28/20 8:12am
 They're crazy-busy, working from home & making many errors. n/m - Lee/AR on 6/28/20 12:18pm
 Re: Has Quicken gone off the rails? - Luckydog on 6/28/20 5:20pm



 
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