Here is a situation that Ken Edelstein created for our learning purposes. I am crediting this blog to Ken as he created the content for the question which I really liked.
Both borrowers signed and initialed (correctly in all the right places) all the pages of a 258 page double refinance package; prior to your arrival. Which of the following statements is true.
1. They legally must resign all signaures as you did not witness any of them.
2. Only the Acknolwedgments must be resigned as they include the wording, “subscribed before me.”
3. The Title company notary must do the notarizations as they are the only entities authorized to notarize unwitnessed signatures.
4. Only the Jurats need to be resigned (legally, putting aside Lender preferences.)
This is an interesting question Ken brought up because many Notaries confuse the law with Lender preferences. Most Notaries go through life with the mentality that:
I have to do this and I have to do that.
Jeremy’s comments — yeah, right.
You can ALWAYS oversign…
Jeremy’s comments — what does that mean. Does that mean you can sign more than what is on the typed name in the document or the typed name in the ID. The Lender might not mind oversigning, but you might be in court later on as a witness to identity fraud.
The documents must be signed exactly the way the typed name reads below the signature line.
Jeremy’s comments — once again that is what the Lender wants which is not always legal. You have to please the law, the lender, common sense, and proceed in such a way that you will not end up in court. Taking thumbprints in your journal is the most efficient way to deter identity fraud and catch the perpitrators the fastest as well.
You have to witness all signatures.
Jeremy’s comments. The law says you have to witness signatures for documents receiving a Jurat notarization as it says, “Subscribed and sworn to BEFORE ME.” However, the Acknowledgments in the majority of states do not have a “before me” clause. The Lender might want you to witness, but look up in your handbook to see what the law of the land says otherwise you could create a mess.