When conducting a loan signing what is the first thing a notary signing agent should do?
Table of Contents
When conducting a loan signing what is the first thing a notary signing agent should do?
1. Preparing For The Loan Document Signing. Confirm the time and location of the appointment with the signer, and make sure the signer will have a satisfactory form of identification ready for the appointment.
Can a notary signing agent discuss loan rates?
Myth Three: The Notary can offer an opinion about the terms of the loan. Just as Notary signing agents cannot answer questions about the details of a loan, it’s not appropriate to give opinions to a signer whether the terms of a loan are a “good deal” or not.
Why should a notary signing agent learn about all the closing documents in a loan package if they are not allowed to provide advice or counsel?
Why Notary Signing Agents Must Not Explain Loan Documents Contracting companies want to ensure NSAs do not misdirect the borrower, or worse, create a legal liability for the contracting company or lender. If you cross the line in explaining documents, the contracting company will likely not hire you again.
How do you package a loan document?
4. How to Package Loan Documents (3 stacks)
- Deed of Trust -4 Copies.
- Note – 3 Copies.
- Lending Instructions – 2 Copies.
- Additional Deeds – 2 copies.
- Closing Disclosure – 1 Copy.
- Evidence of Home Insurance – 1 copy.
- Payoff Demand to current loan (if a refinance) – 2 Copies.
- Preliminary Change of Ownership Form -1 Copy.
Do loan signing agents summarize documents?
” To summarize, the Code of Conduct clearly states that a signing agent can present a loan document to the borrower AND state the general purpose of the document.
How can a signing agent get more signings?
By getting loan signing assignments directly from the escrow officer, title officer, or other real estate professional to get your loan signings directly from the source. And you get the entire fee. By going directly to the mortgage professionals, you will be able to increase your fees by 25 percent to 100 percent.
What is the difference between a notary and a signing agent?
A notary public simply witnesses signatures — that’s it — and charges per signature witnessed. A loan signing agent witnesses signatures AND knows how to walk a borrower through the loan signing process. That is the difference between a loan signing agent and a regular notary public.
What is a signing agent log?
Description. Simplifies business and tax-record keeping including the who, what and when of every signing. Record important customer, travel and payment information, and more.