Initials vs No Initials
I am confused. On the Mortgage there is always a place for initials on each page. I have one company whose instructions are "INITIAL REQUIREMENTS: The borrower(s) are NOT required to initial the loan documents. HOWEVER, if the borrower(s) initial 1 page of the loan package the ENTIRE loan package must be initialed (ALL documents regardless if a signature is
required or not)" But then they also say "YOU ARE RESPONSIBLE TO REVIEW ALL LOAN DOCUMENTS PRIOR TO
SENDING BACK THE PACKAGE TO ENSURE ALL SIGNATURES, INITIALS, DATES, AND ACKNOWLEDGMENTS HAVE BEEN OBTAINED ON THE NECESSARY DOCUMENTS AND EXECUTED CORRECTLY." So...my question is do I or do I not get initials on the Mortgage documents since there is a place for initials? Does anyone know? Please, please help.
There is no law that says people must initial the pages of a mortgage. This requirement is imposed by one of the companies involved in providing the mortgage: the lender or the title company. Since the requirement comes from them, only they can answer your question.
Not always does the lender ask for initials on each page of the Mortgage/Deed of Trust. If they ask for date, I give them date, if they ask for initials on the doc, I give them initials. The Lender owns the docs and must instruct on what they want. Call the hiring party and get a clarification from them.
Lately, S.S. and Title companies are coming out with 3-6 pages of instructions, plus instructions in first couple of pages of docs. Often times they are more confusing than they are worth. Plus, they seem to contradict themselves. It can be frustrating when trying to understand exactly what they are trying to say.