Okay so here I go. I was contacted out of the blue on Wednesday from a 4 star rated title company that I had never worked with before for, for a reverse mortgage signing. The signing was scheduled for the following Friday early evening. The TC said I would have docs early and I did by Wednesday evening. After printing the docs on Thursday I find there is only one note and one DOT which I was taught there are always two of each. I called the title company and told them there needed to be two sets of each and they said don’t worry about it this is a special case. Hmmmm…okay. I get to the signing and my signer had voided checks, copies of I.D.'s and everything asked of her. We start signing and get through most of the documents when we realize they have spelled her name wrong on every document. This is actually a mistake that could easily happen as the illusion of l’s and i’s in her last name is hard to read and easy to transpose. I immediately called the title company and explained that all the documents were spelled wrong…literally everywhere. On the aka affidavit they had 33 different spellings of her last name that were all wrong. The title company just told me to mark out the extra added “i” in her name and have her initial everything. This signing ended up taking 2.5 hours but my concern is that this loan will not go through. The funding date is next Wednesday. It would take a lot of work from the company to fix every misspelling. My question is, should I call someone higher up/manager of the title company because at this point everything could be corrected in my opinion. I just don’t know whether I should step on any toes… Help in Idaho
These situations are so frustrating. However, you were told by the “4-star rated title company” what to do. IMO and IME I would package up the docs and add a cover note - “Per my discussion with so-and-so, signer’s name was misspelled through the package; corrections were made by signer per instructions”. And I don’t for one minute believe “It would take a lot of work from the company to fix every misspelling.” - it’s a keystroke or two (maybe 3) then print a new package.
Just be nice - I sense a re-sign coming and maybe you’ll get the second signing - just make sure you get paid full fee for this one.
Good Luck
I have never done a reverse mortgage before but if i had the information of the lender and such i would havve emailed them as well. For instance i had some borrowers cancel so i also emailed the parties listed on the CD (Escrow, Lender, LO)… you know?
This the loan has to get resigned, you get paid twice (great news). But the 2nd time, if it happen, make the the name are perfect before your print. To make things faster at the signing, you should prep your docs. I get reverse mort done in 25-45min.
Good luck
No you don’t go higher up, you just cross out and initial as you were told, you did your part.