Service Link sent out a memo that they want both borrowers to initial both joint credit sections. This contradicts the instructions sent our in 2021 by Amrock where they require one set of initials for borrower 1 section and one set of initials in the borrower 2 section. It will be a relevant question to ask when your receive the order as to how the title company wants the form initialed.
It seems that every Lender has a different interpretation which then falls on the Title Company. Some lenders want a non-borrowing spouse to initial (they really shouldn’t) and some don’t want them to initial (which is the correct interpretation). This interpretation really made me scratch my head.
Knowing that ServiceLink has an extensive checklist, we might see this as an addition to it.
I read that and shook my head. If you go to the Fannie Mae website (just Google how to complete URLA) there is a table and the verbiage reads
“Each borrower initials their own Section 1A”
I work for title direct and I have never ever done anything but what the Fannie Mae instructions say to do, across many lenders.
Edit to add: https://singlefamily.fanniemae.com/media/17391/display
3 Likes
I got the same email from ServiceLink and this is infuriating. I work for 50 or more different companies and when I get one that decides they will only accept a form done incorrectly, how am I supposed to keep that straight? Is this something that will be considered an error on our part if not done incorrectly- the way they want it done?
I recently had another company insist on both initials there as well. Now this is going to be something that will be a pain in butt for busy signing agents to keep track of.
I think perhaps we all should contact ServiceLink and send them the instructions with that portion highlighted and explain how difficult that is for us to remember that on certain files we need to do it incorrectly. Maybe they will understand the correct way to sign it and we can stop the confusion.
It’s maddening when this kind of thing happens.
I got the same email from ServiceLink. Apparently, they aren’t the only ones asking for the dual initials. Another signing service emailed recently stating that Bank of America now requires the dual initials as well. It seems that it would be much easier to have one standard across the board instead of certain lenders trying to change it up.
I not only get different SA companies giving different instructions on who and where to initials, but I get instructions to have signer’s sign their names on pages that there aren’t any signature lines on. I just Ignore them now and do it the Fanny Mae way. So far, I haven’t gotten any push backs