Which documents does the borrower keep at the end of the appointment?

Loan packages arrive with a duplicate set marked for the borrower, and that set is what stays behind at the end of the appointment. It exists because borrowers need a record of what they signed — for their files, for their accountant, and in particular so they can act on the rescission period where one applies, which requires them to have the notice and the terms in hand. The originals go back to the lender, since those are the instruments that will be recorded and relied upon. Each alternative fails a different way. Retaining originals of anything would break the package. Sending the borrower away with nothing removes their ability to review or rescind. And letting the borrower choose which documents to retain leaves the package incomplete and the borrower's set arbitrary. Where a right of rescission applies, the agent should confirm the borrower has the required copies of the notice, which is a common and consequential omission.

The package includes a duplicate borrower copy set, which the borrower keeps, while the executed originals return to the lender.

Loan packages include a borrower copy set retained at the appointment, while executed originals return to the lender. Where a right of rescission applies, the borrower must receive the required copies of the notice.

Copies Stay, Originals Ship. The borrower cannot rescind from a document they do not have.

Rescission notices commonly require a specific number of copies per borrower. Count them rather than assuming the package is correct.

• •Leaving the borrower without a copy set
• •Letting the borrower select which documents to keep
• •Not confirming the required number of rescission notice copies