I completed a A6 last Friday.(Texas) I missed an incorrect date on a recordable. The title company compliance department was supposed to overnight the doc to me so the signer could correct the date. (2 limited poa’s were signed, one for lender and one for title) When I received the overnight package, they sent the wrong document. They sent my notary page. The local title company had already sent a “just incase they send the wrong doc” unsigned document by email. I called the local title company and they advised to just have him resign and date. I did. I sent my notary page and the signed and dated page back. This morning, I get an email stating title (compliance department) wanted me to mark out the wife’s name on the notary page. It was already sent so no can do. But, also, if I marked through her name on my notary area then who notarized her signature? In the past title companies including ones I’ve worked for have simply married the two signed pages with one notary acknowledgement. I actually was going to send 2 notary acknowledgements back just in case but in the end did not. Am I correct with 1 acknowledgement vs. 2? Does the original document still needs his name and date marked through and initialed?
With both parties having POA could this whole situation be avoided if they acted on that POA? (Yes, I know it is my mistake that I did not catch the incorrect date)
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Did she sign with you the second time, or just the husband?
Just the husband. But they sent the original notary acknowledgment instead of the signature doc for him to correct the date
If she didn’t sign with you, then her name should have been lined through and initialed.
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You should mark through the wife’s name if you did not notarize her signature.
What’s an A6? (I’m too lazy to look it up and I don’t know where to start).
@Bobby-CA : Simple explanation: A Texas cash out refinance 50a6, also called a Texas A6 loan or Section 50(a)(6) loan, lets you borrow against your home’s equity by replacing your existing mortgage with a larger loan. You receive the difference between the two loans as a lump sum payment.
Source: What You Need to Know About Texas Cash Out Refinance 50a6
Is anyone else seeing an uptick on loan modifications?
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Not my experience. What I’m seeing a lot of is purchases and seller packages. Very few refis and haven’t seen any modifications (or maybe those mods are coming across as extremely low fee offers and I just don’t bother with them – dunno).
Maybe you just get more when you do them correctly.
I am getting hit with a lot of them right now. I don’t do them at fifty bucks though.
Always mark through the name you do not notarize on the acknowledgement.
What in the world does that mean??
I agree, how was it originally signed, that is how you needed to redo the notary. Also, if it was just a date issue, they could have gotten your okay to change it on their side. It wasn’t a federal case here.
Yes, also, I don’t do loan mods cheap unless they are where I live or they come to my office.
It means don’t make mistakes and you get more assignments.
Not really. I haven’t seen the volume of loan mods that I used to. Mostly in my area it’s Seller, Buyer Heloc and a distant 4th, Refis. A sprinkling of Commercial Loans and Hard Money about two a month.
