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#1000169 - 07/21/08 01:56 PM Owner, non-borrower....
Whodunnit? Offline
Member
Joined: Apr 2005
Posts: 75
Married couple.. only husband on the note... is the wife required to sign anything other than the mortgage and right of recission? Any early disclosures? Can someone please point me where this is mentioned in the reg's?

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Lending Compliance
#1000174 - 07/21/08 02:00 PM Re: Owner, non-borrower.... Whodunnit?
TattChica Offline
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TattChica
Joined: Oct 2007
Posts: 151
Va Beach, VA
Depends on what state you are in. In VA they spouse doesnt HAVE to sign the Deed of Trust unless they are taking title and listed on the titlework and the Deed of Bargain & Sale. If you refer to the Predatory Lending worksheet that Shelly Armentrout made (on the main site or i can email you a copy))you will find a heading for Non Obligating Spouse Requirements. =)
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#1000178 - 07/21/08 02:01 PM Re: Owner, non-borrower.... Whodunnit?
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
Posts: 46,957
Bloomington, IN
You have to provide her the material disclosures. See 226.23(a) Footnote 48.
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#1000273 - 07/21/08 02:52 PM Re: Owner, non-borrower.... Dan Persfull
Whodunnit? Offline
Member
Joined: Apr 2005
Posts: 75
State - KY
So .. you are saying that the non-borrowing spouse must sign the early truth-in-lending as well as the right of recission and mortgage?

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#1000276 - 07/21/08 02:54 PM Re: Owner, non-borrower.... Whodunnit?
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,963
TN
No, he/she must receive a copy of the truth-in-lending along with 2 copies of the rescission.
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#1000747 - 07/21/08 06:22 PM Re: Owner, non-borrower.... Skittles
TattChica Offline
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TattChica
Joined: Oct 2007
Posts: 151
Va Beach, VA
in KY the spouse must sign the security instrument. In VA the non obligating spouse would sign the Final TIL and the Right to Cancel-the worksheet i have doesnt tell anything about the TIL or other documents.
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#1000943 - 07/21/08 07:48 PM Re: Owner, non-borrower.... TattChica
TINKerBell Offline
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TINKerBell
Joined: Nov 2006
Posts: 3,243
Tiger's Den!
In MI, the spouse must sign the Mortgage to acknowledge waiving of Dower or Homestead rights, the final TIL and Right to Cancel if it is their primary residence. If it is an investment property and the borrower is male, the same applies (except for the RTC), yet DOESN'T apply if the borrower is female!
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