Posted by JulieD/KS
(Taxlady120) on March 20, 2008, 11:41 am, in reply to "Re: Realtor at signing"
64.136.195.174
Amy -
I disagree. I explain to the borrowers WHAT the nature the document is. Yes, I point out the main points...but I also explain what the document is. Recently, I had a borrower say to me at the end of the signing that this is the first time she felt like she knew what she was signing because I explained so well.
I guess I'll do it my way, and you do yours.
Julie/KS
P.S. I have taken loan officer training, real estate classes and, as of this week, insurance classes.
--Previous Message--
:
: 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.
:
:
:
:
:
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