As learned by Renea Dentman
On Wednesday morning, I happened to be on Clubhouse in Renea Dentman's Dropping Gem Room.
I was able to pose the question (as a new notary), Why is there only 1 patriot act for a husband and wife signing at a refi?
There was only 1 Patriot Act for a Refinance Document with a married couple. Renea asked me to look at the Loan application.
She asked, Who was on the loan?
It was only the husband.
She said I needed to look at the Right to Cancel. There was none.
However, in the event that it was, I was to look to see if there was a Right To Cancel for both parties. In my scenario, this was the couple's second home/investment property.
Renea. also advised me to look for the 4506-C. After reviewing that document, only the husband was listed.
3 Documents to REVIEW:
Loan Application
Right To Cancel
4506-C
LEAN IN:
On the 4506- always get the signer to confirm all information is accurate
The telephone number needs to be filled in
If there is no spouse on 2A. Do not allow spouse to sign at the bottom.
Takeaways:
I really did love Renea's teaching style. Had she just replied, the 2nd patriot isn't necessary. I would have appreciated the answer but the way she gave me the answer and made me dig for it...
I will remember this lesson for life. Thank you, Renea!
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