What are the documents saying? - A lesson in loan signing.

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:

1. Loan Application

2. Right To Cancel

3. 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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