[Nichole]

If there are 2 borrowers, and due to unforeseen circumstances, they are unable to sign closing documents the same day, what is the rule of whether one can sign early (prior to doc date) or after?

Another scenario, 1 borrower that is married and spouse is to sign mortgage and release dower, can the spouse sign the Mortgage after closing date?

[Kimberly Boatwright, CAMS, CRCM]

Interesting questions with both Federal and State challenges.

Question 1 (signing on different days) First off no one can sign early that would violate TRID and the requirement that the Closing Disclosure be delivered three business days before “consummation.” Since consummation is determined by state law, lenders have concluded that an early signing is tantamount to consummation in some states. As such, an early signing would violate the three-day rule if the Closing Disclosure was merely delivered three business days before the scheduled closing date.

Second – I have found no guidance that would allow for signing on different days. If in person, they can come in and sign at different times as long as a Notary Public is present to witness and authenticate the signing of the documents.

Thirdly- some governments products (i.e. FHA) will not allow for a loan to be closed with out both borrowers signing on the same day.

There are lots of different moving parts to this question.

Question 2: can the spouse sign the Mortgage after closing date –

No, it has to be at time of closing. This is very clear in state laws and in government type products.

However, the work around that is allowable for both of your questions is for a borrower to designate an attorney-in-fact to use a power of attorney to sign documents on his/her behalf at closing. Which of course is another cost.

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