Posted by JulieD/KS
(Taxlady120) on March 20, 2008, 12:34 pm, in reply to "Re: Realtor at signing"
64.136.195.174
Wendy - I'm not in California. I'm not telling you what you can do in California. I'm just telling you how I do it. Are you saying that in Calfornia, when you pull out the Occupancy and Financial Status Affidavit, you can't say "This is just stating that this is your primary residence and that your financial status hasn't changed since you filled out the loan app."?
To me, that's just 'pointing the highight" although I call it 'explaining'.
Julie
--Previous Message--
: a notary in California CANNOT explain
: the loan papers. Maybe you can in
: Kansas, but not here. We are only here
: to identify the signers and to make
: sure that our portions of the
: paperwork are correct. Any questions
: must be directed to the loan officer
: or title company.
:
: --Previous Message--
: 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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