I am confused with this explanation from the title company

image*

In my opinion this is one of the easiest forms to fill out. I had a long conversation with a title company today who shared with me that this form along with the 1003 is one of the forms that are being filled out incorrectly. They felt the need to send out an email which was confusing at first but they retracted the information given.

Agents are not reading the amount of ID required (1 or 2) and they are putting the borrowers birthdate instead of the ID expiration date.

1 Like

Hi

I’m so glad you wrote about this. I got the same email and wrote them that that I was uncomfortable with these instructions and and that I thought they was incorrect. I feel if we followed this advice, it would be rejected by the lenders and have to be corrected with a possible reduction in fees. I have been a signing agent for 11 years, and this seems very strange to me.

I spoke to the NNA, and they agreed with me. They also advised me where their USA Patriot Act Identification of Borrowers had a section for “Expiration” and “Birth Date”, and I forwarded their (the NNA) form to the appropriate people. But this is very hard to understand.

I hope this is cleared up. I’m sure they must’ve been bombarded with emails regarding this.

Karen

2 Likes

Eek! Eek! Wrong instructon…… Email cane from who! What is the name of the co? That person who sent you this instruction should go find another job!

3 Likes

Interesting; but what if the expiration date is different than the D.O.B.? Example; my DL expires on my birthday, as do our car registrations; however, my CCP has a different expiration date and would be an acceptable form of ID as it contains all the elements required (name, address, picture, signature, etc etc).

I agree with the above poster; someone goofed; but, you know what? You can only do what you are told, so keep this e-mail and if anything gets thrown back at you, you can show them these specific instructions.

1 Like

Birthday is February 29. One in four chance it expires on birthday.

2 Likes

Lol… I hear y’all… See even THEY make mistakes. They sent out the following email this morning.

It has been brought to our attention that the section on the Patriot Act had misleading information. The revision should have stated:
· The incorrect date is being used for the expiration date. Please ensure that the borrower’s ID expiration date is used and not the borrower’s birthday.
We apologize for this miscommunication and hope it did not cause too much confusion. Thank you to those who sent us a note alerting us of the error.

8 Likes

Expiration date column on the right is for anything pertains to the info gathered indicated on the left column if exp. date is applicable. I put “N/A” if no expiration date. I don’t leave it blank.

Had me tripping at first… I must have read it like ten times wondering if I missed something. :monkey_face::see_no_evil::hear_no_evil::speak_no_evil:

Sorry, who are these people you’re working with? :joy::joy::joy::joy::joy::joy::joy::joy: ROTFL…

I’m not putting them on blast… I sent you a PM

No need to tell me I was just joking!!!

1 Like

Hi -

I’m now waiting for the same email - not yet in my box. So glad you posted the email you received. Thank you. Now I feel a lot better. It was a really icky feeling thinking now what do I do? Should I make copy of the form and do it both ways with a note? Karen

Had me rethinking all the forms I have filled out and even reopened the one I had packed waiting to ship out this morning wondering if I have been reading the instructions all wrong for the past few months…lol.

I agree! They cant read the specific request for EXPIRATION DATE of the ID?

Next thing they’ll want is the “date expected to die”. If that date comes after loan funding, oh, ohhhh. If it comes before funding, the deal won’t close.

I’d deduct $20 from their fee and make them go back and re-do the signing of the form, themselves. That’ll show 'em. :wink:

Quick update for everyone who got this email. They have since sent a retraction:

“Yesterday our signing agent bulletin was released with a list of ways to reduce common revisions. It has been brought to our attention that the section on the Patriot Act had misleading information. The revision should have stated:
The incorrect date is being used for the expiration date. Please ensure that the borrower’s ID expiration date is used and not the borrower’s birthday.
We apologize for this miscommunication and hope it did not cause too much confusion. Thank you to those who sent us a note alerting us of the error.”

2 Likes

Do you own a SS???

Nope. But I do a lot of business with the TC/SS that sent out that email and the retraction. To be honest, their business pays about a tenth of my bills.

2 Likes

Thank you for your response.

Despite the miscommunication, the point is that the Patriot Act comes back with errors. Most Patriot Act forms do not include the birthdate or you will see it pre-filled above the table for Borrowers. Non-borrowing owners will not have their DOB filled in and I do not provide it. Other forms will have the DOB squeezed in next to where it says State Issued Driver License and that can be missed. The other way information is asked is when a separate ID form may be included which requires the Borrower’s signature. That gets overlooked as a notary may keep in mind to fill in that form later and miss the requirement to have the Borrower sign that form. Another common error is missing getting a second form of ID. After a while you will know just by looking at the thickness of the explanatory paragraph above the table that two forms are needed. Or, if a valid primary form of ID is not available. There is also the variation that the person filling out the form is a Closing Agent, often with that person’s name below the Certifier’s signature line. In this case I sign the form with my name and title and print ‘on behalf of’ after it. The only time I’ve had to fix a Patriot Act was when I was rushed and thought I would fill it out later before shipping. Now, it gets filled out at the table. It takes a few extra minutes but I haven’t missed one since.

J

1 Like