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so you'll have to take that okay anyway you guys good morning everyone thank you so much for your patience welcome to our online presentation on trusts and POS my name is Yolanda Hensley and I'm your client services representative here at TRC I work directly with sales and also with our client services department to ensure that our clients are well taken care of your presenter you've heard her already and a lot of you know her she's angel booth she's our Senior Sales Executives angel is responsible for all account management and onboarding of new clients she has worked in the industry for 18 years in counting and we'll be walking you through the basics of working with a trust and power of attorney your lines will be muted for the duration of the presentation so if you have any questions during the presentation please type those into your questions panel on your screen and we will get to those at the end of the presentation and any additional questions that you may have after we conclude the presentation you can direct those to client services at peat art closings calm and we'll go ahead and put that on the screen at the end of the presentation as well so thank you very much for choosing TRC for your educational needs again thank you for your patience on this as we got started and now with without further delay let's go ahead and get started angel perfect thank you so much Yolanda and again thank you guys all for dealing with us through our technical difficulties this morning but we're happy to be here with you we're happy I wish I was able to actually see you but I think that would have probably caused a little bit more of a technical difficulty so I'm glad I didn't go that route in any case today we're going to talk about trust and power of attorneys I mentioned it briefly earlier this is just a quick overview to show you all kind of what we're looking at from a title perspective whenever we get a file and we're dealing with being presented with a trust and/or a power of attorney it's very common for them to be used consecutively we'll have both and sometimes we'll have either/or so this again is just a quick overview to just kind of help you and show you some of the things to kind of watch out for and just to kind of know what to expect and why these things matter and always if ever there's a doubt if ever there's a question just give us a call and we will absolutely do our best to make sure we help you through it so I'm going to go ahead and get started and we will go from here all right I might have to move some things around I have my my panel up just because I want to try my best to kind of see these questions but they might get in the way of the wording so don't mind me if you see my mouse moving all over the place all right there we go all right so we're going to talk about trusts first and that kind of brings up the question well obviously what is a trust many people don't know that it's an estate planning tool which is kind of sometimes what puts us in a tough position because this is considered estate planning there are very specific things we have to be mindful of whenever we are directing a client because this is a supplement to a will and we have to be really really careful we don't ever want to mislead or misguide someone and get in the loan so any changes amendments modifications although us as the title company you guys as the lender or neither brokers you know what needs to happen we just have to make sure that the request is coming from the borrower so that it's understood and the borrower understands what's happening and what they're doing with their quote unquote estate planning tool it helps them manage their property during the duration of their lives and we always encourage that they seek legal counsel when they are initially creating that trust and the purpose of the trust is to allow the property owner which we consider that to be the trust or or the grantor or the settler to transfer their legal ownership to a person or institution which is the trustee to manage that property for the benefit of another person which would be the beneficiary and the trust has three parties we're always going to be looking for who is the settler or the trust or and that's the person who created the trust and then we're looking for the trustee which is the person who is authorized to act on behalf of the trust that's the person who is typically going to be signing on behalf of the trust and then we're also looking at who is the beneficiary and that will typically be the settler or trust or which could be the immediate beneficiary or the contingent beneficiary and that is basically the contingent beneficiary doesn't come into place until the immediate beneficiary has passed or maybe becomes incompetent so how Trust affects reverse mortgage transactions and they're obviously going to vary depending on the state the lender and HUD guidelines and also title by blinds so we have the title company when we go to review a trust we're looking at it from a title perspective the lender is also going to be reviewing that trust and they are going to be looking at it from a lender perspective so many times you guys might notice when we send a trust review over at the bottom it'll say you know this trust is approved for title insurance purposes only and even with that approval there are going to be circumstances where the lender reviews that trust and there might be some things underlying in that trust if they're not going to be okay with which is going to cause for the borrower to meet to me to make some amendments to that trust and again that's just because the trust and its capacity varies depending on who is reviewing that trust the trustee and the borrower must sign the loan documents in that and what that means is that the trust is own capacity even though it's for the benefit of the borrower whenever you're dealing with the trust the people signing on behalf of that trust they have to sign as trustee but then they also have to sign as individual and that's kind of where we plugged in the power of attorney piece into this so that people understand that it's two separate entities one is on behalf of the trust and the other is on behalf of the individual depth of the of the borrower whoever's getting the loan here's some of the title and settlement requirements that we're going to need just to simply review the trust we're going to need all executed amendments in the full executed copy of the trust before we can review it sometimes we can accept a trust certification it just really depends on what is listed in that trust certification sometimes it's very limited as far as the information that's reflected so obviously we don't know certain details of the trust we can't make a trust approval I would say we could possibly do a pre-flight which means we will look at it but you know once we review it if it doesn't meet all the criteria we are likely going to ask for the full trust and any amendments as well we're going to want to confirm that the trust is for the benefit of the borrower we want to make sure that we know if there are any deceased parties involved because that matters it's very important the trust could change dependent on if someone passes away and then we're always going to want to make sure that we know upfront whether or not the borrower is competent or not if we don't know these things it's not to say that it would cause a problem later it's just that the sooner we know of any issues the sooner we can relay that and make sure we are giving you guys all the information you need to make sure that this loan is going to work for you all and the borrower obviously and just a quick note again as I mentioned earlier when tidal reviews is we're going to be reviewing it for our capacity but the lender will also be reviewing it for a lender and HUD guidelines as well and then here's a quick little checklist I'm going to have to move my little screen out of the way there we go here's a quick checklist of the things that we're looking for when we do get the trust we're looking to make sure that all the borrower's are immediate beneficiaries and vice versa all the immediate beneficiaries are the borrower's well and that's a lender requirement again the trust is for the capacity of a specific individual so we have to make sure that the immediate beneficiaries are very clear as to who has rights to that property we want to make sure that we receive the correct trust many times trusts are created with very similar names and there might just be a one-off a date difference or you know a middle initial difference or something of that nature that you know makes it a totally different trust so we have to be very careful that we do get the correct trust we want to verify who the trustees are and confirm that the trustee has the power to borrow and we want to make sure that the trust is notarized a copy is sufficient but we do want to make sure that it's a complete trust everything all the I's are dotted and T's are crossed we want to make sure that the trust is revocable and that is for all heckum loans and that again as a lender requirement and then sometimes we might have an irrevocable trust that may be acceptable to some lenders but it depends on the full scope of the trust being reviewed to allow them to make that determination we're not you know privy to that it's every specific lender is going to be different on how they view that there we go all right so here are some reasons for trust denial and these are pretty common it's it's not don't ever think that you you submit a file and it doesn't work out the way you intended because these things are very common I would say at least 85% or more of the business we deal with with our type of loans with reverse mortgages are likely going to have a trust so that's just pretty standard so sometimes we have a situation where the trust is irrevocable and some lenders don't like that depending on whatever that verbage is sometimes we don't receive a complete trust you know the borrower has had this trust for god knows how many years and you know they're they're older they maybe didn't put it all together or maybe they only had pieces of it at one point in time but needless to say we'll get a trust and there's pages 1 through 10 and then you've got 46 through 59 and then you've got a hundred you know that that's not okay we have to have the full trust and I know it's difficult sometimes but you know those could be reasons for denial sometimes the trust certification as I mentioned earlier could contain insufficient information depending on maybe someone passing away a trust could split into an a/b trust which could cause some issues there and then just the deceased party itself could just pose issue with the trust needed to be distributed which is a whole other issue as well but these are just some of the things that come up when we're dealing with trust denials and just as a quick note any borrowers in Texas they're not permitted to close with the vesting held in a trust that's a very specific to Texas rule and we do our best to make sure when we're dealing with those kind of safes with different guidelines that we are always letting you guys know these things upfront at the onset of the open order as long as we know that the property is in a trust or if you guys open order with the trust we'll let you guys know what you need more reasons could be that there is no power to borrow or maybe the trust is not executed the one where it's not executed we've had situations where we could still review it to make sure you know everything is okay and then it might be a requirement that the trust has to be signed at closing or you know if it's really involved they may require the trust to be signed up front before we could submit a final approval but there are always ways to work around most times not all but most times there's a way to work around when there is a trust denial to make sure it gets to where it needs to be to be approved properly sometimes we have an issue where immediate beneficiaries are not the borrower and vice versa or even maybe the trust just needs to be distributed so those are some of the more common reasons for trust denial and here I'm going to give you an example of what the signature lines should look like whenever we're dealing with a trust to us as a title and settlement company these things are second nature to us and so we try to do our best when we're dealing with notaries at the signing as far as you know the docs may be drawn it's not written out or spelled out specifically but these are just common things that it has to be this way whenever you're dealing with the trust so the signature lines for the trustee portion of the loan document should always look like the below you'll have basically you know the borrower's name comma trustee and that trustee even though it's it's written on the signature line it does in fact need to be signed written out signed out right along with the borrower's name or the trustees name I should say many times we have situations where the file goes into closing the docs get sign and everything got signed but it wasn't signed properly which causes funding delays and the notary happen to go back out and you know we try our best to make sure we're hiring the the best notaries that we can that are reverse specific and are very familiar with dealing with trusts and how the signature lines should read whether or not it's you know specified or specific that they need to actually write that word trustee in there and just as a note the lender will require the individual signatures of the heckum borrower to sign on this security instrument so some documents will have both trustee and individual some will only have trustee and some will even only have individual just depends on you know each specific document once we get to the point of doctoral and then this is an example of how the vesting should appear it should always include the trustee the name of the trust and the date of the trust that standard now just because it's standard does not mean that all trusts are recorded that way there are plenty of times when we go to pool vesting and it just says the Smith trust that's it that's not okay it doesn't tell us who the trustee is doesn't tell us date of that trust and those are things that should be a public record whenever someone is vesting their title into a trust so the below example of John Smith and Jill Smith trustees of the Smith family trust dated July 29th 2011 would be a proper way of the how the vesting should appear whenever we pull title it's not going to be that way every time then that's again standard we know that but we can always fix it as we go through our transaction to make it right some trust vesting issues now these are just kind of things that come up again we know what we're looking for when we pull title when there's a trust and then sometimes these are the things that come up maybe at the time when the borrower put their property into a trust in named a trustee maybe they named their daughter as a trustee and at the time for instance my last name my maiden name was Smith and now in the booth so if I you know was the trustee on my parents trust and then I get married obviously my name is going to change and if the trust was never amended to reflect that name change we would have to update that through our transaction to make sure that the trustees name matched their name as it should reflect on their ID so that it can be properly notarized maybe the trust was amended and restated but that wasn't reflected in the current vesting again these are things that happen throughout time that I'm pretty sure the borrower's aren't thinking about but they do need to be corrected because we want to make sure that any documentation that's being provided is properly reflected throughout our transaction and that's our job to fix it and make sure it's all right another example would be the trustee is not stated correctly within the vesting and there's just an example below like I had mentioned earlier just as Jill Smith trust dated and it gives the date but it should say Jill Smith who is the trustee of the Jill Smith trust dated January 2nd 2017 now would be the p oper way to reflect it and anytime there's issues I would say 99% of the times we can absolutely fix it with a deed we don't have many situations where we have to turn a file away just because you know we can't fix it and we have to send the borrower to an attorney but that does happen it's just not common and here are some requirements for getting out of a trust we're always going to need a copy of the full trust and any amendments we could potentially need sign supplemental instructions by the borrower at the time the deed is executed and what that means is just kind of back to what I had mentioned earlier about the trust is an estate planning tool and anytime there are changes being made we have to make sure we're doing our part to ensure that it is in fact a borrower who is making that suggestion no matter if it's us as title saying okay we can't approve this trust because of these reasons this needs to happen and we relay that to you the lender the lender just has to make sure you know dear borrower this happened this isn't going to work this way this needs to happen do you understand that are you ok with that and that supplementals signed supplemental instructions is basically what's giving us that understanding that it is the borrower's request to do so which is again why this bullet says the directions should be provided from the borrower to remove the property out of the trust because that happens sometimes we just can't close a deal in the trust and that's ok as long as the borrower understands that if they if they want this loan this is what needs to happen and they're comfortable with that that's totally fine it just has to come from the bar we've had some situations where the deed prepared has to be done by an attorney but again many of the times it's the settlement teams that will prepare those deeds and make sure everything is right and we will do that through our transaction along the way and then those are just pretty typical requirements alright alright so now we're going to talk about when we're dealing with a deceased beneficiary again as I mentioned sometimes you're going to have a trust and if a person passes away it could split the trust and that could cause some issues one or both of the trusts could become irrevocable again that's a lender specific issue we will always be able to review it and let you know so again the sooner we know about a deceased beneficiary the better that way we can tackle it head-on and get you guys the requirements that you need so we can get it done to get the file moving forward if we have a deceased beneficiary who's the last surviving trustor of the trust we have to look at the section of the trust that describes about what's supposed to happen to the property and sometimes within that verbage of the trust we can see that the trust needs to be distributed this is not something that happens commonly but it is something that happens and when that does happen we like to make sure we know about it sooner than later I mean right now everything that's going on with kovat and they're being delays with you know different offices being able to accommodate or in making changes of that nature it's even more important now more than ever just because it's not that it can't be done it's just the timeframe that it's going to take for that to be done so just be very aware that whenever you're dealing with a tough file know right away let the escrow team know right away sometimes you might not even have the order yet give us a call ask us these questions let us help you get the deal to where it needs to be so that way you submit it you're not now waiting two three four weeks out on something when we could have addressed it before you even open the deal and your appraisal is expiring and your GFE quotes not good anymore and all of that good stuff so just make sure you communicate as best you can with us and we will always be here to answer any questions and help you guys along the way I mean that's that's what we're here for we want to be a partner in it with you guys this portion is going to talk about when you're dealing with a deceased Edler and that's going to have the situation pop up where the trust could I'd into the set trust or where the sub trust could be irrevocable and then we have situations where we've got deceased trustees if they are not the borrower if they're not the borrow we're all we're going to need is the original death certificate and then we're going to have to prepare an affidavit of change of Trustee ordinary affidavit of death of trustee and then advise of any vesting changes all that we'll do in essence will update the trustees name along with recording that document and that information will be a public record and then that's a simple fix and in PRC is always going to be the one to prepare those documents and will always let you guys know if an original death certificate is required there are couple counties who will take a certified copy but in most cases we do ask for the original so that's another important thing to know when you're dealing with trusts or any deceased party for that matter knowing upfront whether or not your borrower has those original documents because if they don't they will have to be requested and I think I just had a file about two weeks ago where the borrower sister had to get involved and help order the deed and even with everything going on it only took about two weeks to come back from vital records so that wasn't too bad so if you guys know anything about any deceased party please be sure to ask the borrower they have the sufficient documents that we'll need to make sure we can keep the file moving forward all right so when we're dealing with an incompetent borrower we are going to have a situation where the successor trip successor trustee will come into place and that's who's going to be signing if the borrower is deemed incompetent so that would just be an update change to the current trustee which is in essence the borrower and then the successful trustee would come in and sign on behalf of the trust for the borrower and then if you're dealing with a power of attorney or conservator that signature would be for the portion of the borrower as an individual so there are two separate entities as I explained earlier - and just as fYI the POA is only used for the capacity of an individual not in the capacity of a trust although I will say that there have been some situations where a trust can specifically lay out and confirm that a trustee has the right to act as POA but again the POA would have to be signed by that said trustee and all of that would have to be specifically written the trust and that is not common it has happened but that's not a common thing all right so I mentioned earlier about trust distribution and how that could be required sometimes depending on someone passing away or some major life-altering change or event within the trust and it just means that again after the death of one of the surviving immediate beneficiaries the trustee is going to be responsible for making sure they're managing the assets involved within the trust or any of the individuals according or individual things related in that trust according to that trust agreement so it's very important that we look at that closely if we don't that could be a potential claim if we allow a trust to be submitted and approved we're not doing our part to protect the borrower and also to protect the lender if we if we pass on that so we don't ever want to tell you that a trust has to be distributed and we can't close the deal with it in the truck that's the last thing we want but just know that if we do ever have to you know deny a file because of that reason it's just to make sure we're protecting the borrower and the rights to that property to make sure everything is done properly oh there we go up I think I went I think I went back to your home let me go back there we go can title distribute a trust I'm so sorry we cannot it is a very involved process and it is something that we will have to seek the direction of an attorney for before we can move forward whenever there is a distribution it we don't again we can't do a state planning so it's really tough because our job is we want to make sure we are helping to make these loans work we want to make sure that they're insurable so we can't give direction but I'm just going to be completely honest with you as long as I've worked in the industry I've got a lot of partnerships and a lot of colleagues in the industry and I'm going to make sure that I personally and my team's personally are going to do our best to at least point you in the right direction we can't go and you know give you a specific tourney's name but we will always lead you in the right direction and give you information it's going to help you get to the end result that will be needed to get that file closed so any specific questions on that you guys are always welcome to email me and ask me any direct question specifically and I will do my best to help answer those questions the most politically correct way that I can so make sure that again we don't want to be held liable we don't want you to be held liable as far as any estate planning but again we want our job is to help the borrower right so if that's what we need to do we're going to make sure we're giving you the information and the tools that you need to make sure that that gets done so these are going to be our requirements for trust distribution we're going to have to review the trust and the death certificate to confirm that the distribution is required and then we're going to need a deed prepared by legal counsel and executed by the trustee into the borrower's name basically taking it out of the trust if applicable we may need an affidavit prepared by the legal counsel which I believe is just indicating that you know the borrower's want to come out of the trust and we need a deed or we have provided a deed going into them as an individual many times we don't have to go that route just a simple letter from the borrower instructing us to do so allows us to move forward with that and then we'll need sometimes we do need the recorded deed up front many times when there is a trust distribution even the lender will not allow for the file to move forward until it is in the borrower's name at the individual and out of the trust and when that happens please do let us know if it's our file so that way we can have an executed copy of that deed to be for where it goes down to recording and then if the borrower is able to get a recording confirmation number on that deed that helps us out immensely that means that we don't have to wait on the county records to update before we can change the vesting if we've got a copy of the executed T's and we have a County recognized recording number we can change the vesting instantly we don't have to wait on the county records which could take you know certain counties can take longer than others so just be very mindful of that any changes to the vesting changes on to the property let us know upfront and any recording information you have will always help us out a ton all right oh and it's a quick note how the requirements are subject to change depending on each unique situation this is why I always stress share as much information as you need to with us and it's you don't have to worry about you don't even have to email let's just call us call us we'll talk you through it all right so that covers everything on the trust portion I'm going to open up my little window and I'm going to see if there's any questions in the question box I know we said we're going to hold them to the end but I just want to see if anyone's put anything in there and I'm not seeing anything so I'm just going to take a breath grab a sip of water I told you I was long-winded and then I'm going to put on into power of attorney all right okay oh here we go here we go okay same thing here what's the power attorney well it's a legal document and it's going to appoint another person to manage the borrower ie principals financial affairs and a CoA is typically used when we run into a borrower that is mentally incompetent they are physically incapacitated they could have Scully / I I don't even know muscle dystrophy or something where they can't sign properly they can have severe arthritis they could have had a stroke and you know there's multiple reasons of where they're found mine but they just can't physically sign and then we have our borrowers sometimes they're just really busy and they are more than competent but they just don't like to sign so they appoint a POA to kind of handle their financial affairs for them the type of power of attorney that we're going to need is always going to be a financial power of attorney we can't use a medical POA at all it has to make sure it allows this person to act on their finances on behalf of their finances original power of attorney is going to be required at closing and it must record with the mortgages or deeds of trust if it's not already of record many people who obtain or have a power of attorney they don't record it sometimes for whatever reason they will file it with the county but they don't actually record it it does need to be recorded and as you know we do have many borrowers who do not like to give up their original documents and we understand that that's okay if that's the case we do encourage you to let us know if that's the case so we can kind of help walk you through having that borrower record that power of attorney on their own and just like I mentioned before taking it down to record getting that recording stamped that number provided to us so then that way we can update the information that we have and we won't require that original power of attorney anymore as long as we have the same document as of record we should be fine to go ahead and utilize that power of attorney the different types of POA minimize that POA is that we have is we have the standard the durable and then the spring so the standard is going to be effective immediately upon once it's signed it goes into effect it doesn't have that durable verbage and lenders may or may not reject it depending on their specific requirements and also with the standard power of attorney the borrower would have had to been able to sign the application so that's pretty specific so we typically like seeing the durable power of attorney that one's a lot easier to use because you don't have to worry it's going to be effective no matter what even when the borrower becomes incompetent it's already in place nothing changes so that's going to be the most common one we're used to seeing and then the springing power of attorney that one only becomes effective after the borrower has become incompetent so just like I said a quick little snippet of the types of power of attorneys we have whenever you're kind of seeing these documents try to be on the lookout on whether or not it's going to be standard or durable those are the most common ones we see the springing ones they come into play but not as much as the standard under the durable and by far most the durable is the most common one that we see alright and this is just a quick sample I'm pretty sure you guys are very familiar with what power of attorneys look like but this is just an example of one it's basically going to list on its specific verbage to the document that it is it will have the principal's name which would be the borrower's bar exam and address basically the agents name which is the power of attorney and their address and then these powers below normally in a big exposure so sorry I'm sorry normally between a and all of them are typically the powers that are going to be listed in the power of attorney I'm so sorry but if they're not again we will let you know and we will give you guys a heads up if we have any issues that might allow might not give us a clear title to move forward with that power of attorney we'll let you know what we need sometimes it could be doctors letters that are going to be required to allow the returning to be used it just kind of depends on you know each individual scenario all right so this is what is going to happen when we'r dealing with a competent borrower we're going to review the durable or the standard POA and it should be acceptable we've got to make sure that it meets all guidelines we've got to make sure that we have the principles affidavit and that's got to be signed and notarized by the borrower and again what that does is allows the title to review it to make sure that there's been no changes made and if the borrower was very aware that they have a power of attorney and they're okay with this person signing on their behalf because they're competent they can sign that principals affidavit and then their power of attorney can sign everything else the borrower would have to be counseled and they should be signing the loan application as well and then the power of attorney must sign the affidavit of attorney in fact just to kind of make sure that yes this power of attorney is valid and I am signing on behalf of this borrower and there have been no changes since this power of attorney went into place and just as a note PRC would be the ones providing all of the affidavits necessary on all the POA transactions now it doesn't want to go all right so we're dealing with an incompetent borrower we're going to have to have either a durable or a springing power of attorney and it either one could be acceptable just have to review and see where the chips fly we're going to need the power of attorney possibly to have one to two doctors letters dependent it depends on the wording in the verbage and the power of attorney sometimes it's not clear by the verbage in the power of attorney the capacity of the borrower or when the borrower became incapacitated and that's why we might require a second opinion doctor's letter just to make sure we're moving forward in the right direction and that we have everything that we need to to use that power of attorney and then in some cases the attorney in fact is going to have to sign a court order to determine that the borrower is incompetent these are things that are they happen but that specific requirement that's not a common required and then we've got the power of attorney must sign the affidavit of attorney in fact and again PRC will provide that document as a note PRC specifically we only require one doctor's letter it's just like I mentioned before sometimes it's not very clear or maybe the doctor's letter that was provided is too vague for a clear passing on a POA which is why they would require a second opinion and have another doctor's letter these affidavits are just an example I don't know when we change the title of this document but this is the truth title of this document it's called an affidavit of lack of knowledge of termination of power and that is to be signed by the power of attorney and then on the right is an example of what the affidavit of principle looks like and it's just basically stating that you know in this state in this county I whomever the principle is appoints whoever the agent is as of what date and it's very specific to the loan in question whatever the you know lender would be working with the loan amount all of that good stuff and these do not get recorded I know at the top you can kind of see where it says space above this line for recorders use they get filed with the county but they don't make these a public record for the actual affidavits the power of attorney itself will get recorded though and these are just some of the doctor's chest checklist notes and the reason why we have requirements on these now is because you'd be very surprised on some of the things we get back from a said doctor so these are our requirements now it must be written or typed on doctors letterhead very important it must include the date it was prepared it must include the doctor's signature it should include verbage that the borrower or the principal can no longer handle their financial affairs and depending on the title or the lender requirement the doctor letter may need to state the date that the borrower or the principal became incompetent it's very important we've had several situations where we have a power of attorney provided and it states that the borrower is is incompetent as of this date and then we go check the chain of title and we see that indeed was recorded in the same time frame that the borrower was deemed incompetent so that's definitely not okay they want to make sure that we always have everything dialed in and we want to make sure that the dates match up do we want to know that before we submit the file so if ever you find out information and you're worried that it may have an issue please just let us know because we can let you know the best way to deal with it and move on and move forward and make sure that you've made a clean file with no issues apologize for that is my computer cord all right - hope everybody is doing okay I promise we're almost done I will get through this and we're almost almost through it so just bear with me about halfway it's a little more than halfway through at this point all right all right so here's what a power of attorney can't do it cannot be used for self serving purposes and that includes removing an incompetent borrower from vesting it can't be used to sign on behalf of a trustee unless both the power of attorney document and the trust specifically allow for and I mentioned that earlier I won't get too deep into it like I said each scenario is different so if ever we run into that and we have an issue your title or settlement team will always direct you on how we can move forward and move past it with the best scenario that's going to work for the borrower and the situation at hand here are some reasons for POA denial if the POA has the lack of power to borrow or invalid signatures that's going to be an issue for sure if we've got an improper notary acknowledgement that could be an issue or even the lack of durability language some states require witnesses on power of attorney so if there's an insufficient number of witnesses that could pose an issue a few more reasons would be there is a screening power of attorney provided for review but the borrower is still competent so that clearly won't work as we explained earlier springing goes into effect when the borrower is incompetent maybe we have an insufficient doctor's letter or maybe the original path attorney is missing and that is required for recording now there are some states that do allow for a certified copy of the power of attorney to be recorded it is a bit more of an involved process and you do have to make sure that you have either an attorney or a notary that is willing to attest that they witnessed install or notarized at some point in time that original pilot attorney that's what they would have to do to obtain a certified copy and again that state-specific I don't have a set list I want to say California allows for that but it is County specific although we know that these things are possible every County interprets it different so one County to the next may are not accepted even though we know that you know this is possible these are this is the workaround whenever a power of attorney is missing some counties we have had that will not record that document so I'm just giving you guys the information we don't make up the rules we just try to give you guys the best information that we can and I want to make sure I'm sharing that just in case anyone does run into that situation you kind of know what you may or may not be able to do and how to move past it okay here is going to be a sample signature line when you're dealing with a power of attorney and this is again kind of what I mentioned earlier about the trustee signature lines where for us in title it's second nature we know how it should be whether it's spelled out or not but sometimes the borrower's obviously they don't know and sometimes maybe the loan officer or the broker may not know either so we want to make sure we're educating you guys so that way maybe you're at a loan closing with a notary and you notice that they're not having them sign the proper way you can absolutely step in and say hey no it should be like this and you give them that example or just give us a call if ever in doubt and just second let us know your question and we'll walk you through it but if the borrower Jill Smith has a power of attorney who is Jack Smith it should look something like this Jill Smith by Jack Smith as attorney in fact and the signature lines the in essence would probably just say Jill Smith but the power of attorney must sign Jill Smith by Jack Smith as attorney in fact that is exactly how that signature line should read whether or not that wording is there or not that should be the standard all right so I told you guys we're almost done so now we're just going to talk about quickly using a trust and a power of attorney in a single transaction and how that works so when a trust and a paddle power attorney are combined in the same transaction you have to follow the guidelines that's previously discussed within the presentation these entities are separate and they should be viewed as such it's common to have a trust and a power of attorney used on the same transaction however there are going to be circumstances where a trust can be denied yet the power of attorney is approved or vice versa and that's again going to be specific to each individual document and why that would happen so when we're dealing with a competent borrower with both having a trust and a Cobb attorney if the borrower is the trustee of the trust the borrower should be the one signing all the documents as trustee unless there's a different trustee that's appointed the borrower am assigned the principal's affidavit and then you the power of attorney must find the affidavit of attorney in fact and then the original table attorney would be required for recording again unless it's already of record now if we have an incompetent borrower we're going to require an affidavit of change of trustee and that's going to be required if the borrower was the trustee the successor trustee would be the one to sign all the documents as trustee versus the borrower we might what we would likely require a doctor's letter confirming the incompetency of the borrower and then the attorney in fact would have to sign all of the documents for the borrower as individual we would need the POA to sign the affidavit of attorney in fact and then we would also need the original table attorney to record and just as a note the attorney in fact is not always going to be the same person as the successor trustee and it's perfectly fine so for the vesting the trustee should sign in the capacity of the trust and attorney-in-fact or the principal must sign in the capacity of the individual so again two separate entities the trustee or successive trustee will sign on behalf of the trust and the POA will sign all documents for the borrower as individual and then here's going to be an example of how the signature line should look because I'm at the top you've got the person who is signing as individual our individual would be Jill Smith her POA is Jack Smith so issues competent Jill Smith buy Jack Smith as attorney in fact would be signing on behalf of her as individual but if she's competent she would sign as trustee for herself as just on the trustee documents so that's how it should look now when she's incompetent that's where things would change a bit Jack Smith's would already be signing for her as power of attorney on the top line Jill Smith by Jack Smith's as attorney in fact but then on the bottom he's now the successor trustee so would just say Jack Smith's trustee and it doesn't necessarily have to say successor trustee as long as it says trustee that signature is representing the signature on behalf of the trust so you might see it with successive trustee sometimes and sometimes you might just see it as trustee and that's totally fine either way works as long as the word trustee or successor trustee is written after that trustees signature it's a good signature all right and now with regards to dispersing the file when we're dealing with a trust and a power of attorney this is very important we do our best to make sure at the onset when we get an open order that we see the vesting is in a trust or maybe the order got opened and maybe we're going to vest into the trust at some point in time up front we know that there's going to be a trust involved with disbursement so these are some of the things that we added to this webinar just to make sure our brokers and loan officers were aware of what they should be you know telling their borrower asking these questions up front because they should have a bank account in the name of the trust if they're going to vest their property in a trust they should have a bank account in the name of the trust that's how it should be exactly how is that how it's going to be 98% of the time now many borrowers do not set up their estates this way and that's okay but we do need to make sure that we're letting you guys know we will always ask for permission if we get to funding and the borrower does not have a bank account in the name of the trust we will always ask the lender permission do you give us permission to wire to the borrower as individual if that was their requesting we wait for your approval to do so otherwise we would issue a check in the name of the borrower's if that was their their request to do so so just please be mindful of that I know it's not something that has always been that way but just with a lot of the fraud that happening in our industry over the last couple of years we've done our best to make sure we are protecting the borrowers the best way we can and their finances and so this is just something we came up with that we feel is for their benefit when dispersing a file in a trust if the borrower requests a check for their proceeds the check must be payable to the name of the trust we will be unable to issue a check to an individual capacity is vested in a trust and again I just mentioned we will always check with you first but this is the standard we have a set standard and then we have to accommodate as necessary if the borrower does not have that and it's going to be the same thing for a wire if the borrower requests a wire transfer for their proceeds a checking account in the name of the trust will be necessary and if the count in the name of the trust is not available we will be unable to send a wire again we are always going to ask permission we will not just simply not adhere to the borrower's request but again as a note these are things that we are looking for whenever we see a property vested in the trust and we will you know upfront when we get the order we will let you know when the file is clear to close when the final fees are sent over and we will also let you know once the file goes to signing and remind that notary to obtain a voided check in the name of the trust and most times that's likely when we find out so who got we'll let you guys know when we're dealing with the funding conditions and we'll hopefully get approval before that wire comes over to us so we have it all dialed in now when we're dispersing with a power of attorney things can vary just a bit depending on whether the borrower is competent or not so if the borrower's proceeds are going to be issued in the form of a check they can only be made payable to the borrower so even the power of attorney signed everything that's all great but we have to make the check payable to the borrower not the power of attorney we do get requests asking us so can you send the check in the name of the power of attorney they handle my account we cannot unfortunately with the power of attorney now with the wire proceeds the wire arm proceeds or the instructions for the borrower's proceeds they can't be accepted from the attorney in fact me when the documents are being signed we're only requiring the borrower to sign the principal's affidavit as individual but if they want a wire the borrower is the one who has to fill out the wire proceeds form the borrower has to be notarized and it has to be the borrower providing the notary with the voided check and all of that information and then we can wire the fu ds to the borrower's account so if the borrower is incompetent the power of attorney cannot sign the wire proceeds instructions form on behalf of the borrower so a wire to a borrower with a power of attorney that only works when the borrower is competent and just want to make sure that's very clear so we can accept the wire instructions from the borrower's to the borrower's account the instructions cannot be completed by the power of attorney they have to be completed by the borrower and then in regards to wire fraud this is also something new I think we've been practicing this for about the last year or so with regards to the closing we can only accept wire instructions provided to our office by the notary at closing after the closing stay for instance there's some funding conditions or funding issues and the borrower may be they wanted to check at signing but then they change their mind and they wanted a wire instead after the signing we can't accept that I would say the borrower if they came into our office which again were a nationwide company we're not going to have borrowers coming in after the fact to give us you know live checks and signing instructions right now so we just try to make it very clear if the borrower wants a wire they need to have everything available at the signing because after the signing we can't alter what's been provided it's again for the borrower safety we don't want to accept anything via phone or via email from the borrower we have had some special circumstances where maybe you know we've had to verify bank accounts specifically on our end because maybe you know the borrower maybe had a stroke or maybe something happened that became an emergency we will work with the borrower to try to be as accommodating as we can but our set standard is to not accept any wire instructions setup closing we want to make sure someone physically handed information to our company which is on behalf of the notary and that's how we set the file up for wire so please please let your borrowers know whenever they're going to closing make sure you know you're signing those wire instruction proceeds at the actual closing because we don't make any changes after the fact and again it's further protection and for their safety and that is pretty much it all of this information that we just went over is updated as of April 1st of this year information is going to vary by underwriter or by state we ask that any questions that you have please feel free to reach out to us or your settlement teams if you're already working with us directly and we will always make sure we give you the best information on your files and with that I'm going to open up this questions box and I'm so sorry because you guys have all been muted but your questions you are all more than welcome to email me directly again I'm angel booth and my email is a booth at PR closings and that's plural with an S com feel free to ask me any questions you'd like or you can also email our client services box and you can ask any questions you need there the email to client services is listed there and our phone number is listed there as well please take the time to go check out our website we've got a YouTube page and we have some other recordings on there as well different things that we cover so if you are interested in any of those please feel free to check them out and ask as many questions as you like I'll be happy to help in any way that I can again Adrienne thank you so very much for allowing us to put this on for you guys I'm so sorry again for the technical difficulties we had starting out Yolanda I'm not sure if you have anything that you want to add at all no just thank you guys for your time we value our partnership and we hope that you guys found this really informative I know that there was a lot of information and again like angel mentioned we will have this recording available on our YouTube channel hopefully by the end of the day if not it'll definitely be there for you to look at later or you know again it's not by the end of the day tomorrow and further so thank you guys very much we really appreciate your partnership and your business and we look forward to working with you yes thank you so much ulanda and I just got a text from Adrian and I will yes Adrian I'm going to we have the registered these and we will absolutely email it out to you guys as well so I think that's it I think I can I stop talking your guys's ears off so you are welcome to go enjoy the rest of your day thank you again I guess hope you guys have a wonderful rest of the day things and old things everyone okay bye guys

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A smarter way to work: —how to industry sign banking integrate

Make your signing experience more convenient and hassle-free. Boost your workflow with a smart eSignature solution.

How to electronically sign and fill out a document online How to electronically sign and fill out a document online

How to electronically sign and fill out a document online

Document management isn't an easy task. The only thing that makes working with documents simple in today's world, is a comprehensive workflow solution. Signing and editing documents, and filling out forms is a simple task for those who utilize eSignature services. Businesses that have found reliable solutions to industry sign banking california poa simple don't need to spend their valuable time and effort on routine and monotonous actions.

Use airSlate SignNow and industry sign banking california poa simple online hassle-free today:

  1. Create your airSlate SignNow profile or use your Google account to sign up.
  2. Upload a document.
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  4. Select Done and export the sample: send it or save it to your device.

As you can see, there is nothing complicated about filling out and signing documents when you have the right tool. Our advanced editor is great for getting forms and contracts exactly how you want/need them. It has a user-friendly interface and complete comprehensibility, supplying you with total control. Create an account today and begin increasing your digital signature workflows with highly effective tools to industry sign banking california poa simple on the web.

How to electronically sign and complete documents in Google Chrome How to electronically sign and complete documents in Google Chrome

How to electronically sign and complete documents in Google Chrome

Google Chrome can solve more problems than you can even imagine using powerful tools called 'extensions'. There are thousands you can easily add right to your browser called ‘add-ons’ and each has a unique ability to enhance your workflow. For example, industry sign banking california poa simple and edit docs with airSlate SignNow.

To add the airSlate SignNow extension for Google Chrome, follow the next steps:

  1. Go to Chrome Web Store, type in 'airSlate SignNow' and press enter. Then, hit the Add to Chrome button and wait a few seconds while it installs.
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  3. Edit and sign your document.
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Using this extension, you eliminate wasting time on boring assignments like saving the document and importing it to a digital signature solution’s catalogue. Everything is easily accessible, so you can quickly and conveniently industry sign banking california poa simple.

How to electronically sign forms in Gmail How to electronically sign forms in Gmail

How to electronically sign forms in Gmail

Gmail is probably the most popular mail service utilized by millions of people all across the world. Most likely, you and your clients also use it for personal and business communication. However, the question on a lot of people’s minds is: how can I industry sign banking california poa simple a document that was emailed to me in Gmail? Something amazing has happened that is changing the way business is done. airSlate SignNow and Google have created an impactful add on that lets you industry sign banking california poa simple, edit, set signing orders and much more without leaving your inbox.

Boost your workflow with a revolutionary Gmail add on from airSlate SignNow:

  1. Find the airSlate SignNow extension for Gmail from the Chrome Web Store and install it.
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  5. Click Done and email the executed document to the respective parties.

With helpful extensions, manipulations to industry sign banking california poa simple various forms are easy. The less time you spend switching browser windows, opening some profiles and scrolling through your internal files searching for a document is much more time to you for other crucial tasks.

How to safely sign documents in a mobile browser How to safely sign documents in a mobile browser

How to safely sign documents in a mobile browser

Are you one of the business professionals who’ve decided to go 100% mobile in 2020? If yes, then you really need to make sure you have an effective solution for managing your document workflows from your phone, e.g., industry sign banking california poa simple, and edit forms in real time. airSlate SignNow has one of the most exciting tools for mobile users. A web-based application. industry sign banking california poa simple instantly from anywhere.

How to securely sign documents in a mobile browser

  1. Create an airSlate SignNow profile or log in using any web browser on your smartphone or tablet.
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  3. Fill out and sign the sample.
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airSlate SignNow takes pride in protecting customer data. Be confident that anything you upload to your account is protected with industry-leading encryption. Auto logging out will protect your account from unwanted access. industry sign banking california poa simple from your mobile phone or your friend’s phone. Safety is vital to our success and yours to mobile workflows.

How to eSign a PDF document with an iOS device How to eSign a PDF document with an iOS device

How to eSign a PDF document with an iOS device

The iPhone and iPad are powerful gadgets that allow you to work not only from the office but from anywhere in the world. For example, you can finalize and sign documents or industry sign banking california poa simple directly on your phone or tablet at the office, at home or even on the beach. iOS offers native features like the Markup tool, though it’s limiting and doesn’t have any automation. Though the airSlate SignNow application for Apple is packed with everything you need for upgrading your document workflow. industry sign banking california poa simple, fill out and sign forms on your phone in minutes.

How to sign a PDF on an iPhone

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When you have this application installed, you don't need to upload a file each time you get it for signing. Just open the document on your iPhone, click the Share icon and select the Sign with airSlate SignNow button. Your file will be opened in the mobile app. industry sign banking california poa simple anything. Additionally, making use of one service for all of your document management needs, everything is quicker, smoother and cheaper Download the application today!

How to digitally sign a PDF document on an Android How to digitally sign a PDF document on an Android

How to digitally sign a PDF document on an Android

What’s the number one rule for handling document workflows in 2020? Avoid paper chaos. Get rid of the printers, scanners and bundlers curriers. All of it! Take a new approach and manage, industry sign banking california poa simple, and organize your records 100% paperless and 100% mobile. You only need three things; a phone/tablet, internet connection and the airSlate SignNow app for Android. Using the app, create, industry sign banking california poa simple and execute documents right from your smartphone or tablet.

How to sign a PDF on an Android

  1. In the Google Play Market, search for and install the airSlate SignNow application.
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  3. Upload a document from the cloud or your device.
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airSlate SignNow allows you to sign documents and manage tasks like industry sign banking california poa simple with ease. In addition, the safety of your data is priority. File encryption and private servers can be used as implementing the latest functions in information compliance measures. Get the airSlate SignNow mobile experience and work better.

Trusted esignature solution— what our customers are saying

Explore how the airSlate SignNow eSignature platform helps businesses succeed. Hear from real users and what they like most about electronic signing.

airSlate SignNow is the best digital signature app for REALTORS I have ever used.
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The use of this app is so extremely simple and easy for the advanced tech person, all they way down to the not in the least tech savvy person. I have had all walks of life find this easy to use when we were not able to sign in person. It is also easy for me to set up signatures from my phone or my laptop, in no time at all. The ease of use for both sides, is what I like best.

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I'll admit, airSlate SignNow isn't perfect yet, but they have Docusign beat hands down when it comes to the control of the tag placement, the things you can do with the tags, how the tags work, the pricing per user (3x cheaper than Docusign and we get bulk upload!) and BEST OF ALL - we don't have to run our loan doc packages twice anymore, which we had to do under Docusign. Now we send the document through Drawloop, with delivery option of "email", AND at the same time, we can right click and save the package, and when we manually upload it to airSlate SignNow, it recognizes all of the tags! With Docusign we had to run the package twice: first to email it and second to send it through to Docusign because Docusign does not see the tags if it is first saved then uploaded. You have to use a template or manually place the signatures and we have 80 tags per set of loan docs! Another thing that airSlate SignNow can do is utilize tags that are already in the document, so you don't actually have to convert all of your Docusign tags to airSlate SignNow tags. Took us a while to figure that one out, but pretty nifty so we didn't have to recode all of our documents. Although now we use Drawloop Components to place the tags depending on the Delivery Option Name, so not necessary. Another AMAZING thing: bulk upload through a .csv file so we can send out a set of loan docs to hundreds of investors in under 10 seconds. Try doing that with Docusign without paying extra. There is one thing I really love about SaaS and that is the more features they have and the more advanced things they can do, the more I can take advantage of them and make our system even better. And I haven't even finished figuring out all of the advanced features of Sign Now!

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Frequently asked questions

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How do you make a document that has an electronic signature?

How do you make this information that was not in a digital format a computer-readable document for the user? " "So the question is not only how can you get to an individual from an individual, but how can you get to an individual with a group of individuals. How do you get from one location and say let's go to this location and say let's go to that location. How do you get from, you know, some of the more traditional forms of information that you are used to seeing in a document or other forms. The ability to do that in a digital medium has been a huge challenge. I think we've done it, but there's some work that we have to do on the security side of that. And of course, there's the question of how do you protect it from being read by people that you're not intending to be able to actually read it? " When asked to describe what he means by a "user-centric" approach to security, Bensley responds that "you're still in a situation where you are still talking about a lot of the security that is done by individuals, but we've done a very good job of making it a user-centric process. You're not going to be able to create a document or something on your own that you can give to an individual. You can't just open and copy over and then give it to somebody else. You still have to do the work of the document being created in the first place and the work of the document being delivered in a secure manner."

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When I try to sign the document I am trying to print, the following errors occur, and the document remains unresponsive on my computer: "This computer cannot print this document." The PDF is signed, but the signatures cannot be merged together. How often should I check the information displayed on the web site? The information is updated on a weekly basis, usually at the start of each day. The information can change during the course of a project.

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a) sign with a digital signature. b) sign with a digital signature and print the certificate. 2. What to do if I can't print this PDF? a) contact eSign. b) print the certificate, scan it and eSign it yourself or hire a professional company. 3. Where can I get a certificate for me? a) you can order them from our store in the link above. b) you can order them from eSign.