And home loan documents — for example, the deed of trust or mortgage — generally are dated before or on the same day as the notarization but with certain types of home loans offered by certain lenders, it is a common — and acceptable — practice for documents to be dated after the notarization was performed. Nearly every notary public will find themselves in a position where they are asked to backdate a document for instance, a client may ask his or her notary signing agent (nsa) to write an earlier date in the “date” field to lock in a lower mortgage rate.
Lender liability considerations lender liability is the result of a lender’s conduct it is not an activity leverage that lenders often have in negotiating loan documents, particularly in a default/restructuring scenario, and the loan documents themselves (eg, contractual a bank’s loan officer expressly invited the borrower’s. The us approach seems to be founded on the principle that parties to an agreement (or deed) are free to agree that the document is to take effect prior to the date of execution – this is often denoted by dating the document “as of” the earlier date.
All of the security instruments, notes, riders & addenda, and special-purpose documents that should be used in connection with regularly amortizing one- to four-family conventional first mortgages that are sold to fannie mae are available for viewing, printing, or downloading in microsoft® word format. Due to this ambiguity in the contract documents, the trial court was permitted to look at the evidence of the parties’ intent outside of the documents, and it found that the fdic didn’t acquire an interest in the loan until june 2009, regardless of the stated effective date in the main agreement. Most counsel would agree that parties are free to reach agreement on when they would like to their contracts to be effective from in my experience, any “backdating” done is usually done by way of dating the contract itself the date the parties sign the document, but expressing it as being “with effect from” an earlier date.
We will begin implementing e-sign for our loan documents next year in doing some research on this, one of the requirements is consent to electronic records which is a disclosure that the customer should consent to the electronic signatures.
Effective dating documents are commonplace in the commercial/ag world, even with loan documents prepared by legal counsel example: note is signed and dated on january 4, 2010 but effective 12-31-09, which is the maturity date of the loan. Posted by js newberry on 2/21/09 3:02pm msg #278344 backdating documents today i was contacted by a signing service to have a signing with a local customer all of the major documents were dated november 20, 2009 yesterday. Once loan documents are signed, “prior to funding” conditions will need to be met to ensure the loan actually funds and records these are usually sent back along with the loan documents from title/escrow.
The forms and/or language prescribed by fha must be used in the legal documents used for loan closing reference : for information on fha forms and language requirements for the. If the document is to go into effect after the date of notarization, then that is a fact that should be recited in the document, but the date of the document should still be the date of the notarization or prior. Loan documents usually contain three dates: the dated date, which is usually the day the documents are drawn the signing date, which can be the same as the dated date and is usually the same as the date being notarized the recording date, which is the date the recordable documents are recorded in the proper county recorders office. The title insurance company is responsible for funding the loan and any changes to the documents per the loan officer must be approved by the title insurance company do not allow the loan officer or anyone take the signed documents from you without the title insurance company’s approval.
The loan was a commercial loan for a property in dc and the docs were dated for the disbursement date and not the signing date when i contacted the tc they said the docs were correct and to go ahead with the signing.