Got this as part of the instructions. I’ve only ever returned one signed and left two signed as required by law. So when I was told to have them all signed and return them, they have copies in their documents - that seems pretty odd. Have you been asked to return 3 signed copies?
When I asked about it, I was told “just in case”.
Just in case of what exactly?
It must be getting more common. I have done a couple lately that had 3-4 in the packet. All needed to be signd and returned.
But law requires we leave a signed copy with them they have to have it if they want to actually cancel.
seems wrong.
I have found conflicting information on whether a signed copy has to be left with the client. One search I did said yes, but another said it doesn’t have to be signed. Where are you seeing that a signed copy has to be left with the client?
I have had this in one order, I made extra copies to leave with the signer before going to the appointment as to be compliant, as I know they have the ones I left them in their copies but thats not normally how it is done so to cover my behind I made extras to leave and took the signed copies back. This was a lesson learned after I was dinged on an order for this same thing and not returning 3 signed copies. I was of course confused about why on earth I would need to return all the copies but , they out the hit on me for it, so for the subsequent order they did have in the instructions to return 3 signed copies , the first order did not .
Had one assignment this week with that same request. So, I took the ones out of the borrowers’ package, included them with the signing package, left them the ones that were in their package and returned the others.
I usually return all three signed copies, unless specifically instructed otherwise. I’ve never had a problem doing it that way. I have had some instructions say specifically to send all three signed copies back. They do have a complete set of them in their document copy, so I don’t see the problem. It seems like overkill to give them their 3 in the document copy and then give them 2 more that they already signed. Signed for whom? Themselves?
Per sec. 1026.23 of the Consumer Finance regulation, two copies to each party in interest (one if e-form). No mention made of requiring they be signed (although I had my signers sign them - all copies, both returned copies and their copies.)
§ 1026.23 Right of rescission. | Consumer Financial Protection Bureau
Many lenders will not accept a right to cancel from a borrower in order to cancel that is not signed and dated the day of the closing. It’s in a lot of instructions.
OK, this has bugged me since I became a signing agent in 2020. Most of the loan packages I get have three RTC for each signer. I have each signer sign all three for return in the completed package. Each signer gets three RTC to keep in the photocopied set of documents I leave with them - UNSIGNED!
Unless I have written instructions to do anything else with the RTC, that’s how I do it. I have never had a problem with this method. Not from lender, title or escrow. If anyone thinks this is not the way to do things, I’d be much obliged to hear the rationale and what the exposure might be. Let’s not get into silly what-ifs, however. I understand that there are variations to this but I’ve described exactly what I do so let’s kinda stay with that unless there is a method or reason to explore or otherwise set me straight.
Better minds than mine know the answers. Incidentally, I wonder how a lender could claim that an unsigned RTC at the date of closing that is ultimately signed properly and within the allotted timeframe could present a problem. 
The NNA training is what originally taught me we are required to leave signed copies for the borrowers. I had never been asked to return all three with documents except by one company - who then stopped.
I think there are newbies everywhere. In docs preparation, scheduling - etc. And as always new notaries who believe subcontracting signing is the way to get rich and they start doing that before they’ve actually cut their teeth as signing agents. That’s my take on it.
I just asked an agency rep why they require the notaries to print and return appraisal reports since we have nothing to do with appraisals.
After responding to all questions - they went silent on this one. Go figure.
The law requires for title not for you and if title wants it back what do you care?
Because in six years it was never required it was always leave two send one. I’m simply curious as to when that changed. If it even has.
Maybe it has not changed but it’s not your law, you are just following the order
Regulation Z stipulates that borrowers must each receive 2 copies of their RTC. Reg Z also says borrowers have a 3-business day right to cancel which shall start upon delivery of notice at consummation (signing) or if notice is not delivered, that right goes from 3 days to 3 years.
This is why lenders want borrowers to get signed and dated copies of their RTC – proof of when RTC was received. If blank copies are left with borrowers, there may be a discrepancy in delivery dates. There have been several foreclosure issues due to RTC discrepancies.
[§ 1026.23 Right of rescission. | Consumer Financial Protection Bureau]
(https://www.consumerfinance.gov/rules-policy/regulations/1026/23/#a-2)
Thanks Yolanda, I knew there was a law. I think requesting all 3 copies be returned comes from what I see as an influx of notaries deleting things they think are duplicates. Then we get orders that say DON’T DELETE THINGS THERE ARE NO DUPLICATES.
Ain’t it fun.
Regulation Z stipulates that borrowers must each receive 2 copies of their RTC. Reg Z also says borrowers have a 3-business day right to cancel which shall start upon delivery of notice at consummation (signing) or if notice is not delivered, that right goes from 3 days to 3 years.
This is why lenders want borrowers to get signed and dated copies of their RTC – proof of when RTC was received. If blank copies are left with borrowers, there may be a discrepancy in delivery dates. There have been several foreclosure issues due to RTC discrepancies.[§ 1026.23 Right of rescission. | Consumer Financial Protection Bureau]
@yolicue is correct in her assertion and explanation
Yes, very weird request. They sign all three copies, 2 signed copies are sent back in the loan package – just as you stated. That is SOP for me too.
The section they (the signers) are signing are to acknowledge they have received their 2 COPIES of the notice of right to cancel. And so if all 3 copies are sent back with the loan package, that signer has grounds to rightfully complain that they did not receive their copies and they will win. If in the signing agent instructions the hiring company instructs us to return 3 signed copies, they had better include 2 extra copies in that loan package. Or, if I catch it in time, I would print 2 extra copies. Last resort would be for me to take 2 of the blank RTCs from their set of copies and have them sign and keep them. Still, that’s weird.
@Carmen_Lane If the pkg has 3 copies and you print the pkg twice, you now have 6 copies of the RTC. Signing agent only needs to make sure they leave 2 for each party in interest…which may mean making some additional copies to conform
I do exactly as you do with RTCs. Unless otherwise specifically instructed, I will have them sign and will send back all 3 copies. Some instructions clearly state to send back all 3 copies. I have never had a problem doing it this way, or have had any title company/lender tell me that I did it wrong.
