"Even after explaining that, they asked that the dates be changed per industry standards to be effective the date of signing."
The above indicates you DID line out the printed dates, had customers initial and write in the correct dates? That is generally the correct thing to do.
There ARE some exceptions, but these should not be determined by a notary. See (f) Exempt transactions, just to demonstrate, not to make a decision. There MAY be a legitimate exemption.
Do not be confused by (1) A residential mortgage transaction, which is understood to be a purchase transaction.
http://www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1026/23/
Otherwise, it should be generally noted that errors on the RTC can cause the rescission period to extend out to THREE YEARS, not three days for the customer. All part of TILA.
Some may feel that the SIGNED date alone establishes a time-line. That shouldn't be a notary's decision.
If you corrected the dates, and initialed them (counting Friday, Saturday and Monday with Thursday being a holiday), and it turns out to be an error, at least you erred on the better side.
Try to contact the LO first thing in the morning to see if three does exist an exemption.
Keep ALL your written documentation of instructions on this one. |
