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vince
Kansas
324 Posts |
 Posted - 04/28/2009 : 4:13:31 PM
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The format of the e-sign docs seems to be changing a bit as time goes on. The entire AmTrust e-sign package (all pages wet and e-signed) I did on Friday was only 98 pages for a local title company. Thirty-three of those 98 pages were printed on paper and "wet signed" and only four were "stamped." The remainder were online and agreed to with an "e-signature." Reference to the use of the "e-signature" is one of the wet signed documents. For this loan the wet signed documents included the following (pages provided in parenthesis):
1. The HUD (3)
2. Checklist of e-signing documents (1)
3. Mortgage (13)
4. Security Instrument Rider (1)
5. Limited POA (1)
6. ID Verification form (2)
7. Hazard Insurance Letter (1)
8. First Payment Letter and mailing address verification (2)
9. Name Affidavit (2)
10. Tax and Insurance Record (2)
11. Pair of 4506 forms (4)
12. Notice of receipt of RTC and TIL (1)
Since the borrowers firewall and security program prevented downloading data, we did the e-sign on my laptop computer that is equipped with a wireless card (good to have backup for these closings). I cut a CD for them and they printed out the RTC and a couple of the other forms before concluding the closing. |
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PWinFL
Florida
469 Posts |
Posted - 04/28/2009 : 10:52:32 AM
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From what I've been told (I haven't done any e-signings for Amtrust), any document requiring notarization is handled the old fashioned way, print on paper, sign on paper, stamp on paper. All other documents are read electronically (displayed on the computer screen) and the borrower simply acknowledges them. I assume there is a document with in the wet signed docs that states that the borrowers electronic acceptance of the document is equivalent to a wet signature.
Never drive any faster than your guardian angel can fly.
I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.
Visit us online at http://www.PAWnotary.com |
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12059
California
8 Posts |
Posted - 04/28/2009 : 08:19:57 AM
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| So what do companies such as AMTRUST use to obtain a borrower's electronic signature, if the notary public does not have an electronic pen and pad??? |
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PWinFL
Florida
469 Posts |
Posted - 04/28/2009 : 07:30:20 AM
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Depending on the county in which the document (DOT/mortgage) is going to be recorded, will also dictate how much "e" there is. Most counties today will accept a document for recording in Level 1 electronic format. Some will accept Level 2 and a few accept Level 3. For a description of the type of recordings, please read "eRecordings - An Overview" available for viewing/download (PDF) from my website.
Never drive any faster than your guardian angel can fly.
I am not an attorney licensed to practice law in the State of Florida,
and I may not give legal advice or accept fees for legal advice.
Visit us online at http://www.PAWnotary.com |
Edited by - PWinFL on 04/28/2009 07:35:35 AM |
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LindaH
Florida
1754 Posts |
Posted - 04/28/2009 : 05:51:46 AM
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quote:
Originally posted by 12059
In what situations do notaries need an electronic pen and pad to do enotarizations??? It seems that some lenders, such as AMTRUST only require that the notary login to their website via a laptop and wireless internet connection to do esignings and don't require the notary to have a electronic pen and pad.
Thanks in advance!
If I'm reading this post correctly...you ALWAYS need an electronic pen and pad for e-notarizations...you'd only need it in conjunction with e-signings if your state is accepting e-recordings - otherwise you'd need to get wet signatures.
Remember - e-notarizations are not the same as e-signings, and these two are not the same as e-recording...
MHO
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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BobbiCT
Connecticut
135 Posts |
Posted - 04/28/2009 : 05:14:43 AM
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I, too, am curious if any lender or title company requires the pen and e-pad. If so, does the company provide the hardware, software, licensing and upgrades or is the $5 notary required to bear all expenses?
All the "e-sign" closings that I know of in CT are just "point and click." Signers and notary or attorney have pre-registered with document provider and enter via user name and password - except for the documents that must be printed and wet signed & notarized.
Bobbi in CT |
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Lee-AR
Arkansas
678 Posts |
Posted - 04/27/2009 : 8:30:20 PM
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To the best of my knowledge--none. The pad & pen idea isn't utilized by anyone for loan signings. If anyone knows otherwise--please post.
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12059
California
8 Posts |
Posted - 04/27/2009 : 5:12:13 PM
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In what situations do notaries need an electronic pen and pad to do enotarizations??? It seems that some lenders, such as AMTRUST only require that the notary login to their website via a laptop and wireless internet connection to do esignings and don't require the notary to have a electronic pen and pad.
Thanks in advance! |
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e pen & pad v. AMTRUST
