Private lending : Who keeps signed original recorded documents

[Raj G.]

Hi, I am lending money to my friend. It will be recorded by title company as first lien. so my question is  who keeps the Original signed documents after recording.

It will be kept with title company, or as a lender I should have original documents.

I did lending before at that time I didn't get original documents , title company just email me digital signed bundle of all documents.

What is benefit/loss(if any) if I as a lender insist for original documents.

Thanks

[Jeff S.]

Even though you can always get a legally binding certified copy of your mortgage or deed of trust, @Raj G., as the lender, you should possess all original documents. This is not limited to the note and mortgage/DOT but any signed personal guarantee, 1003, all disclosures, and anything else your borrower or closing agent signs.

Your lender's instructions, which are typically signed by your borrower and closing agent, should be clear which documents you are to receive as a condition of funding. Never assume anyone can read your mind. Our instructions specify document-by-document which must be original, and which can be a certified copy. Obviously, your mortgage/DOT should specify your address when the recorder mails it out.