What information should you look for in the lender
instructions? - ....ANSWER...-Who to call with questions
during the signing
-what you should collect from the borrowers
-Number of copies to print
-ink color of the pen
-Special initial or signature instructions
How do you check and flag documents? - ....ANSWER...-
Place a sticky note at the beginning of each document
-Maintain the stacking order
-Place the closing disclosure or HUD-1 on top
,-Look through every page in the packet and place a sticker
for each signature/initial/date
Who are the stakeholders in the loan process? -
....ANSWER...The stakeholders in the loan process are: the
borrower, the lender, the contracting company, and the
NSA(Notary Signing Agent)
Who hires an NSA? - ....ANSWER...An NSA is hired by a
contracting company to provide signing services and
oversee the actual loan signing with the borrower.
What is a contracting company? - ....ANSWER...A closing
company could be:
-closing agent
-bank
-escrow company
-attorney
-signing service
-borrower's
What types of transactions does a Signing Agent handle? -
....ANSWER...-Refinance
-Purchase and sale
What are some Signing Agent DO's and DONT's? -
....ANSWER...You can:
-Print Loan documents
-Oversee the signing
-Notarize the appropriate documents
-Return the documents
You can't:
-Process loans
-Conduct a settlement
-Prepare documents
-Offer am opinion or legal advice to the borrowers
What are some examples of discriminatory or unfair
practices? - ....ANSWER...-refusing to perform signing or
providing inferior services based on clients race, color,
national origin, religion, gender, sexual orientation,
disability, family or migratory status
, -making unprofessional and insensitive remarks about the
clients culture, level of education or lifestyle
-Prompting the perception of unwelcome advances or a
lewd act
Where does the NSA fit in the loan process? -
....ANSWER...You may be the first or the only person the
borrower meets. Although you are involved in only one
step, the whole loan process hinges on how well you do
your job.
Where are the critical documents? - ....ANSWER...-
Closing Disclosure
-HUD-1 Settlement Statement
-Truth in lending Disclosure
-Deed of Trust
-Note
-Notice of right to cancel
Where are the common documents most likely to be
notarized? - ....ANSWER...-occupancy affidavit
-signature/affidavit
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