Test Bank Solution Manual for Notary Signing Agent Procedure Rated 100%
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Course
Notary Signing
Institution
Notary Signing
Test Bank Solution Manual for Notary Signing Agent Procedure Rated 100%
California requirements for thumbprints for loan packages - Answers Required by law to get a thumbprint every time a notarization is done for a loan package for anything having to do with real property title
Purpose of using ...
Test Bank Solution Manual for Notary Signing Agent Procedure Rated 100%
California requirements for thumbprints for loan packages - Answers Required by law to get a
thumbprint every time a notarization is done for a loan package for anything having to do with real
property title
Purpose of using colored sticky notes - Answers Identify where errors have been made without altering
the loan document itself
Does a notary stamp their own signature where indicated on a loan package? - Answers A notary can
never notarize their own signature, include a sticky note to explain that no stamp can be provided
Use of loose, unattached acknowledgment certificates in a loan package - Answers Never provide loose
certificates and expect the loan company to attach it to a specific document, do not complete any spare
acknowledgment forms provided by the lender.
What four things will a Statement of (Confidential) Information ask for? - Answers 1) Address for last ten
years
2) Employment for last ten years
3) Previous marriages
4) Homeowners insurance information
Rule for loan document signature versus identification document signature - Answers The identification
used for signature verification can contain more information than the signature, but never less
What a notary public should do if asked to perform an act that is improper or illegal? - Answers Refuse
or cease to notarize and note the reason in the notary journal
Rule about giving the borrower their copy of the loan package? - Answers Never give the borrower their
copy until signing is completed
Two rules about a Corporation Assignment of Deed Trust document - Answers 1) Never have the
borrowers sign it
2) Never notarize this document
, What title is used by notary public when signing the US Patriot Act Disclosure to indicate verification of
the information on identification documents and the form itself? What title is not used? - Answers
"Signing Agent" is the title that is used. Under no circumstances is "Notary Public" to be used.
What to do if there are discrepancies in any information provided for US Patriot Act Disclosure? -
Answers Notary Signing Agent needs to contact Loan Closer at Title/Escrow Company, does not proceed
with the closing.
What to check for with loan documents that are pre-signed by borrowers and do not require
notarization? - Answers Make sure the documents are dated for the day the signing is completed.
What to do if a borrower has pre-signed documents that require notarization? - Answers Have borrower
acknowledge the signature in the documents is their signature.
What to do if a borrower has pre-signed documents that require a jurat? - Answers Borrower will need
to resign the documents in clear space, leaving original signature untouched. Best to call company that
provided the signing to verify if the documents need to be redrawn.
What can happen if a borrower does not sign their name as shown on the loan documents? - Answers
County Recorder could reject the loan, which would hold it up in escrow. Title Company will need to
redraw the documents, and new signatures will be needed. Place a sticky note indicating the borrower
was instructed on how to sign if they still refuse to do so.
What to do if a borrower asks questions pertaining to their loan? - Answers Advise they need to speak to
their loan officer.
Closing Disclosure - Answers Replaced the final Truth in Lending Disclosure and HUD-1 Settlement
Statement, discusses any prepayment penalty, loan officer needs to be contacted with questions about
it. Have borrower sign and date the document.
Loan Estimate - Answers Replaces Initial Truth in Lending Disclosure and Good Faith Estimate, discloses
any prepayment penalty, loan officer needs to be contacted with questions about it. Have borrower sign
and date the document.
Note - Answers Identifies loan amount, interest rate, date first payment is due, amount of monthly
payment, borrower's right to prepay, term of the loan, and whether loan has fixed or adjustable rate.
Identify how many days after payment date borrower can pay and applicable late charge.
Deed of Trust - Answers Document that gets recorded, borrower needs to confirm their name and
address that appears, they need to contact loan officer or notary signing agent needs to contact
company assigning the loan for how to proceed. This is recording instrument showing there is a lien
against the subject property.
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