Good morning! I was hoping for some clarification on an issue with a mortgage refinance our CU has. Our member, who is the borrower, has a property owned by both he and his ex girlfriend. The ex girlfriend was never taken off the deed and the member is refinancing the property. The loan is in his name alone but we needed his girlfriend to sign as owner of collateral. They both live in different states than the CU and each other so the mortgage needed to be mailed to each borrower and notarized. Both signed the mortgage but the dates of the signing were obviously different. What is in question is that she signed and dated the mortgage two days after the date printed on the mortgage? The borrower signed as per the printed date so the note, rescission, and mortgage signing dates all match. It's just the owner of collateral signature date that is two days later than the printed date on the mortgage. Since this is not her principle address she has no right of rescission nor is she on the note as a borrower. Does the date difference matter in this case? We have decided it does not but wanted some opinions. Thanks for your help.

If they both live in different States and not in the State where the property is located, why is rescission even involved?

The borrower lives in the property. I meant that the borrower does not live in the same state as the CU or the owner of collateral so the mortgage would need to be sent Fed Ex to the member and to the owner of collateral because neither live near the CU nor each other.

Well, what date (date of signature or date of document) controls the signature on the mortgage signed by the ex-girlfriend is going to be a State law issue. The same is true as to what constitutes the date of consummation of the transaction that will impact whether or not the right of rescission period was correct. That is why it is usually important to have a title company/attorney involved in transactions that are out of the ordinary.