1. A Notary Signing Agent is required to have a back- ground screen when? 2. When should the notary signing agent ask if the date and time of the signing
... [Show More] appointment has been set and also if there are any additional stipulations needed to complete this closing? 3. A notary signing agent just received documents for a closing scheduled in 1 hour but will not have time to return home to print. How should the signing agent respond? 4. The contracting company sent instructions to the notary signing agent regarding the dress code re- quirement. The signing agent should: 5. When confirming the appointment with the borrow- er for their closing appointment, the notary signing agent should: 6. Who determines the appropriate attire the notary signing agent should wear to a closing? 7. While on the way to a signing appointment, the no- tary signing agent realizes the location is outside of his normal territory and should have asked for a higher signing fee to accommodate the distance. What should the notary signing agent do? 8. When the Notary Signing agent arrives at the signing appointment, they must present a to the borrowers. Every year to main- tain industry stan- dards On the initial phone call with the con- tracting company Call the borrower and alert them of the delay and re- turn home to se- curely print the doc- uments Dress according to the instructions sent by contracting com- pany Confirm that the borrower will have acceptable identifi- cation The contracting company Complete the clos- ing and ask for a hinge fee next time Government Issued ID 9. A Notary Signing Agent should always record every Notarial Act performed at a closing in a journal. This is considered: 10. If your signing instructions require the loan docu- ments to be signed in blue ink, it is permitted to sign in black ink when: 11. If a Notary Signing Agent normally collects finger- prints for all signers in order to complete an au- thorization in a state where fingerprinting is not re- quired, what should the signing agent do if at a clos- ing the borrower refuses to provide their fingerprints to the Notary Signing Agent? 12. An experienced Notary Signing Agent may do all of the following except? 13. The best way to answer any questions that the bor- rower may have is to: 14. Which document represents the borrower's promise to repay the loan? 15. Which of the following documents breaks down the monthly payment amount including principal/inter- est, taxes and insurance and also shows when the first payment will be due? 16. If the deed of trusts says, "see exhibit A" in the section of the document that says legal description: 17. During a loan signing appointment, the borrower asks if his closing costs are too high. How should you respond to the borrower? Required by the NNA code of con- duct Never. You must fol- low the signing in- structions Complete the nota- rization anyway Explain to the sign- er why the loan they have is a great fit and why they have great term Call the loan officer when the borrower has any questions as they come up The Note First payment letter Exhibit A must be present Explain to the bor- rower that you are not allowed to dis- 18. A borrower complains at closing that he has not had time to review the loan documents thoroughly and feels rushed into closing. What do you do as the Notary Signing Agent? 19. A borrower asks if they have escrow set up for prop- erty taxes and homeowners insurance. How do you respond as a notary signing agent? 20. Which document must the borrower receive at least 3 days before the closing day? 21. Which type of loan will use a HUD-1 instead of clos- ing disclosure 22. A borrower asks you to explain several loan terms found in their loan package. How should you pro- ceed? cuss his loan rates but you can give his loan officer a call at the table if he needs further expla- nation on his closing costs Recommend the borrower stop and speak with their loan officer and discuss loan documents if he is uncomfortable closing at this time Direct borrower to review the first page of the closing disclo- sure for that infor- mation Closing disclosure Reverse Mortgage Provide a gener- al description of the loan terms and where that informa- tion can be found in the loan documents (never explain loan term) 23. Heloc stands for: Home equity line of credit 24. A borrower asks for explanation of the Notary Sign- ing fee found on the closing disclosure. How should you respond? 25. The SPW's code of conduct, prohibits which of the following actions: 26. Which document is known as the final printed form of the loan application? 27. Which document authorizes the lender to obtain copies of the borrower's tax returns? 28. After signing a few pages in the loan package, the borrower expresses reluctance to continue signing her loan documents. As the Notary signing Agent what should you do? 29. The right to cancel form allows the borrower to can- cel their loan within 3 days. Offer to call the loan officer to explain the fee Collecting your sign- ing fee from the bor- rower in the event that the contracting company has not paid you for you no- tary signing agent services Uniform residential loan application Form 4506-T Recommend the borrower speak with their loan officer im- mediately to have any questions or concerns answered Business (Saturday included) 30. Notarial Certificates on loan documents Must be completed in the presence of the borrower 31. The notarial evidence form is completed by: The Notary Signing agent and returned to the contracting company 32. When the borrower has finished signing all of the necessary documents in the closing package, the signing agent should review the package for any missed signatures: 33. A borrower asks the notary signing agent to email a copy of the loan documents to them. How should the notary signing agent proceed? 34. Why should a Notary Signing Agent be knowledge- able about loan documents in a closing package if they can only present documents but not explain them? After every closing before leaving the borrower's home Do not send the re- quested documents but inform the con- tracting company or loan officer of this request It demonstrates to contracting compa- nies that you are competent enough to oversee a loan signing appointment [Show Less]