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#1835325 - 07/22/13 09:36 PM Is it OK to Pre-Date a Deed of Trust
Bacon Offline
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Let's say the DOT is dated 27th. The owners come in and sign the DOT on the 29th. Funds are not released until the DOT is signed. Do we need to change the DOT to the date they signed?

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#1835329 - 07/22/13 09:44 PM Re: Is it OK to Pre-Date a Deed of Trust Bacon
Truffle Royale Offline

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Why was it predated?
When was the note dated?

If all the docs in the closing package are dated the 27th, you're could have a problem with the RoR if there is one.

Usually you see docs presigned to allow for signatures of persons who cannot be at the closing but the effective date of the note and DOT/mortgage are usually the same.

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#1835334 - 07/22/13 09:58 PM Re: Is it OK to Pre-Date a Deed of Trust Bacon
compliancequeeni Offline
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Along the same lines, can you predate a ROR?

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#1835337 - 07/22/13 10:05 PM Re: Is it OK to Pre-Date a Deed of Trust Bacon
Truffle Royale Offline

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^^^Absolutely not!!!!!
Sorry to get excited but that's a biggie.
There's no way to fix an incorrectly done RoR and doing it wrong gives the borrower three years to rescind.

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#1835348 - 07/22/13 11:44 PM Re: Is it OK to Pre-Date a Deed of Trust Bacon
Richard Insley Offline
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This is really a legal question, but my first concern was about title problems. If the D/T is not put to record until 2 days (or more) after it was supposed to be signed, did you update the title search?
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#1835378 - 07/23/13 02:45 AM Re: Is it OK to Pre-Date a Deed of Trust Bacon
rlcarey Online
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A deed of trust has a date on it and the borrowers don't sign it until some future date - is that what you mean by predated? I guess I don't really see what difference that date means. In every jurisdiction I have ever been in when you sign a deed of trust, it has to be notarized. The date of signature and notarization is always documented. Now, if you are talking about forging a notarization, that is something totally different. I have seen the former happen consistently over the 35+ years I have in banking without any problems. Even TIL allows for some per diem latitude for unexpected delayed closings. The RofR form however needs to accurate.
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#1835552 - 07/23/13 04:27 PM Re: Is it OK to Pre-Date a Deed of Trust Bacon
compliancequeeni Offline
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So the ROR form needs to be the date of the loan closing or later? It cannot be before? If the customer needs the money the day of closing, we just have to make sure we close the ROR loan three days prior that date, correct?

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#1835557 - 07/23/13 04:33 PM Re: Is it OK to Pre-Date a Deed of Trust Bacon
manimal Offline
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The whole point of the ROR is to give the customer a 'cooling off' period after the closing and an opportunity to change their mind before the funds are dispersed (3 business days later).
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#1835565 - 07/23/13 04:48 PM Re: Is it OK to Pre-Date a Deed of Trust compliancequeeni
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Originally Posted By: compliancequeeni
So the ROR form needs to be the date of the loan closing or later? It cannot be before? If the customer needs the money the day of closing, we just have to make sure we close the ROR loan three days prior that date, correct?
If the customer 'needs' the money on a certain date, then back your closing off of that date so all the documents are properly executed. To be honest, most of the customer 'needs' I've seen with regard to refinances are usually 'wants' that can wait the required time period.

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#1835595 - 07/23/13 05:36 PM Re: Is it OK to Pre-Date a Deed of Trust Bacon
compliancequeeni Offline
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Great, thank you! You all confirmed my thoughts

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