Posted by Amy in CA
(Nostalgia80) on March 20, 2008, 10:40 am, in reply to "Re: Realtor at signing"
208.17.215.235
Julie,
Loan Signing Agents are NOT to explain the loan document. We are to "point out" the important parts, though.
In California, you CAN explain the documents if you have been trained in that field.
So, if you were not trained Loan Agent, Loan Signing Agent just get the borrowers to sign and notarize.
Dan, realtors cannot explain the loan documents either because they are not loan agents. All questions about the loan documents should be forwarded to the loan agent or broker.
--Previous Message--
: Hmmm? As the signing agent, you are
: the one to tell the borrower what he
: is signing. The realtor sometimes
: sits in and yes, does have a fiduciary
: duty to the borrower, but you are the
: one hired to do the signing. Part of
: the signing is to explain to the
: bororwers what they are signing.
:
: --Previous Message--
: tells the borrower that I came to
: explain the docs. I pointed out the
: realtors commission to the borrower
: and told them both that the realtor is
: the one who has the fiduciary
: relationship with the borrower and
: that HE will be doing all the
: explaining. I wanted to ask him if he
: was smoking crack.
:
:
:
Amy in CA
will be Mobile Loan Signing Agent someday.....
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