IMO: if that lender is using 1st signing date to calculate the NORTC date, they are breaking the law because they are not giving the last signer/2nd signer that 3 business days to think it over in case he/she wants to cancel.
Can’t help but think it was a Loan Officer who told you that in an effort to close sooner than legally permissable.
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Does it matter if it is the first signer or the second signer? What happens if I have the first signer and it is preprinted? I get that if it is the second signer. Mine was the first signer, maybe that it is the reason he told me to leave it as the date for the second signer was unknown… Don’t know just speculating. The documents were originally printed for both parties to be there but it was discovered after printed and scheduled that the wife was not going to be there.
If date is preprinted, first signer signs docs as is - second signer (if using the same set of docs) corrects both the transaction date AND the rescission date and initials each
The NORTC at top is clear - the rescission period will expire on midnight of the third business day after the latter of
a. the date the transaction takes place;
b. the date of the truth-in-lending disclosure (which I realize is now incorporated into the CD) or
c. the date the signer receives a copy of this disclosure.
C is usually the same as A except in the matter of split signings such as this - and then the rescission period begins the day the second signer signs.
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I’ve done dozens of split signings and not even once has the title company or lender inserted a separate certificate for each notary with the correct names on each. It’s always left to the notary to sort it out and make sure the certificate is correct for their part of the signing.
Mostly agree. But I did have ONE really on the ball TC that had included–all on one page–the signature lines of each signer with a pre-filled Acknowledgement right below that for each signer…and the 1st notary handled this every which way but right.
- Completed it for her signer then crossed out 2nd signers name on doc; put a big X across 2nd signers/notary Acknowledgement.
- Completed 1st signers Ack; then crossed out 2nd signer’s name in 2nd Ack, inserted 1st signer’s name and completed Ack…a second time.
- Crossed out both pre-printed for each signer Acks and added a loose cert for 1st signer.
Guess notary couldn’t decide which was right or better, so tried every variation possible, which, of course, forced me to include a loose cert on every notarization
When in doubt, please ask hiring party and save everyone’s sanity, including your own.
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Hello, either way is fine with me. However, if I had to choose, I would like to add my certificate when I am first.
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Speaking of spit signing. I got an interesting one next week. Split signing at the same location, on the same day, but at two different times! Only need to print 1 copy, basically I show up at the house for 1st signing at 12pm and go back at 5pm to get the second signature. They pay as 2 assignments of course. Best part, it’s only 4 minutes away:)
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If I’m the first Notary I use what’s on the document as long as it my State’s sufficiency. I let the second notary attach their own loose certificates. If I’m the second batter, I’ll attach my own loose certificates. There are no rules I’m aware of as to how your proceed.
Keep in mind that some State’s dictate exactly the wording on a certificate, and others, like Texas, allow the Notary to ‘create’ the certificate as long as it meets the State’s requirements. Check you State’s laws on this as your mileage may very.
Back to back signing are the best. I was fortunate to get 3 B2Bs at a lender’s location. While I was there they asked if I could add one more. Four engagements, Four fees, and no travel.
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What do you mean by split signings? Im confused. Every notary can print out their own acknowledgement and jurats for free online. You only need to do that if the preprinted notary is not compliant with your state. If another notary is doing a signing of the same loan, you don’t have to print or fill or not fill anything for them. They should know how to access a jurat, etc.
That is so awesome! Congratulations!
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A split signing is when two different signers will be signing the same document. This is common when an existing property changes hands during a purchase. You’ll handle one of the signer(s) and return the documents for the second notary to handle.
I get a couple of these each month when a Californian relocates to my area and there’s a sale of the original property in California.
Thank you for the reminder on this. I did a modify closing for a local lender at their office, good pay. I’ll have to reach back out and get on board with them to add me as one of their in-house agents:)
That was the first time a loan was added on to a sequential engagement. Just counting my blessings. The rest of the week wasn’t as busy.
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Yes these are Sellers and Buyers packages. We dont refer to them as split signings. Sounds like everyone is used to Refi’s. And there’s no worrying about the other notary. They usually preprinted the notary for each signer. Im just confused on the question. Why would we worry about the other signer and notary.
The lender and escrow is correct. They told her it doesn’t matter as long as the notary is correct. So just not clear on why she’s worried
Keep in mind that the buyer could be in a different state when they sign with that state notary. So best to not worry about the other signers. Im in CA. Im not going to worry about the buyer signing with their notary in NY.
Well that is different
True there is no “rule”… hence the polling question