Hi Bobbi,
Thank you for the heads up. I have already begun to caution borrowers about both the DIY document packages and the e-signings (Signing agent's equivalent to abstractor's outsourcing problem) which require a borrower to sign a power of attorney authorizing some unknown party to execute documents encumbering their homes with a mortgage. As an attorney I have that option which most notaries are unable to do, but would probably love to do. My advice to them of consulting an attorney first has been met with very positive results...especially among elderly borrowers who are not computer savvy.
Why anyone in their right mind would consider encumbering their home without seeking legal advice is beyond me, but I think a lot of it comes down to lenders trying to maximize profit by cutting the attorneys out of the picture.
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