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#1641933 - 12/21/11 07:17 PM Non-borrowing spouse on mtg refi
Liz Y Offline
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Tennessee
Question is if the non-borrowing spouse has to sign the TIL or if they just get a copy of it?

I found info from 2008 that said they didn't have to sign the ROR or the TIL, but my current understanding is that they DO sign the ROR but I am not sure if they sign the TIL also under current regulations?
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#1642477 - 12/22/11 06:23 PM Re: Non-borrowing spouse on mtg refi Liz Y
Truffle Royale Offline

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In all the states we work in, the non-borrowing spouse must sign mortgage/deed of Trust, ROR and final TIL.

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#1642520 - 12/22/11 07:15 PM Re: Non-borrowing spouse on mtg refi Liz Y
leegl Offline
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Is this response only applicable assuming the spouse is an owner?

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#1642551 - 12/22/11 08:27 PM Re: Non-borrowing spouse on mtg refi Liz Y
bay7272 Offline
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Indiana
If the non borrowing spouse is an owner, that person would sign the mortgage document, but Reg Z does not require the TIL or ROR to be signed (this person must be given a ROR and TIL), however, your forms or your proceedures may request signatures and secondary purchasers may also require or request those forms be signed

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#1642711 - 12/23/11 02:49 AM Re: Non-borrowing spouse on mtg refi Liz Y
Rocky P Offline
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Florida
Reg Z indicated rescission notices, etal must be provided where there is an ownership interest in the primary residence. I've never lived in a community property state, but was told the following by someone who lives and forecloses in a community property state:

"If it was a community property state, the non borrowing spouse has an ownership interest by operation of law. The non borrowing spouse is also a consumer for the purposes of rescission under 226.23. (See 226.2 def of consumer). "

If that is the case, then a non-borrowing, not on title spouse would appear to need the Notice of ROR and appropriate material disclosures.
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#1642712 - 12/23/11 03:10 AM Re: Non-borrowing spouse on mtg refi Liz Y
Truffle Royale Offline

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It's not only community property states that require non-titled spouses to sign off on mortgages. Iowa is a dower state and requires it. I'm not at work to check the other 11 states we serve but more often than not, on a refi, the non-borrowing spouse whether they're on title or not, must sign off on the mortgage and get ROR and TIL. Signing the ROR and final TIL are, I believe FNMA requirements so if you ever hope to sell the loan, these will have to be signed.

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#1642718 - 12/23/11 12:36 PM Re: Non-borrowing spouse on mtg refi Liz Y
Kathleen O. Blanchard Offline

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In some states the non-borrowing spouse is "required" to sign because of cloudy issues that arise in potential future divorce situations due to state divorce laws.
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#1643009 - 12/23/11 07:45 PM Re: Non-borrowing spouse on mtg refi Liz Y
lindsafer Offline
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Minnesota
we require them to sign mtg, ROR and final TIL
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#1660674 - 02/03/12 08:53 PM Re: Non-borrowing spouse on mtg refi Liz Y
Mrs. Rizzo Offline
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Bringing this one back to life...

Scenario: Non-borrowing non-titled spouse in a community property state.
Required to sign DOT with verbiage stating [name of non-titled spouse] agrees and confirms that, by signing this Deed of Trust, any interest (whether currently existing or later acquired) he or she may have or may acquire in the above-referenced property is encumbered by this Deed of Trust to secure the above-referenced promissory note(s) or loan agreement(s).

What if the non borrower non titled spouse refuses to sign?

Have any of you ever heard of requiring a non borrower non titled spouse to sign either a quit claim deed or interspousal deed?
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#1660782 - 02/03/12 11:44 PM Re: Non-borrowing spouse on mtg refi Liz Y
rlcarey Offline
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Galveston, TX
This is all going to be determined by State law. Call your legal counsel.
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#1660808 - 02/05/12 12:24 AM Re: Non-borrowing spouse on mtg refi Liz Y
Truffle Royale Offline

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Legal counsel, your state's banking association compliance person or the attorney at the title company will best be able to guide you on this. I'm not an attorney but I'm happy to share what information I have on this topic.

That said, to the best of my experience across a couple of different states with both community property or dower rights, you cannot require someone to give up title to property.

Further, the language you quote is not required altho some banks, including mine, use something similar. Check your mortgage/deed of trust. Usually Section 13 explains what the non-borrowing signer's obligation is. Here's Section 13 from the WI mortgage:
Quote:
13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower’s obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a “co-signer”): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer’s interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer’s consent.


There are other documents that can be used if the co-owner won't be the co-signer. If you're talking about a messy divorce situation, there's a disclaimer of interest that an attorney can prepare.

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#1661636 - 02/07/12 06:33 PM Re: Non-borrowing spouse on mtg refi Truffle Royale
Mrs. Rizzo Offline
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Originally Posted By: Truffle Royale
Legal counsel, your state's banking association compliance person or the attorney at the title company will best be able to guide you on this. I'm not an attorney but I'm happy to share what information I have on this topic.

That said, to the best of my experience across a couple of different states with both community property or dower rights, you cannot require someone to give up title to property.

Further, the language you quote is not required altho some banks, including mine, use something similar. Check your mortgage/deed of trust. Usually Section 13 explains what the non-borrowing signer's obligation is. Here's Section 13 from the WI mortgage:
Quote:
13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower’s obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a “co-signer”): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer’s interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer’s consent.


There are other documents that can be used if the co-owner won't be the co-signer. If you're talking about a messy divorce situation, there's a disclaimer of interest that an attorney can prepare.


Thank you, Truff!!!
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