Notary Signing Agent Study Guide Questions and Answers Already Passed

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Notary Signing Agent Study Guide Questions and Answers Already Passed A Notary Signing Agent is required to have a background screen when? ✔✔Every year to maintain industry standards When shou... ld the notary signing agent ask if the date and time of the signing appointment has been set and also if there are any additional stipulations needed to complete this closing? ✔✔On the initial phone call with the contracting company 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? ✔✔Call the borrower and alert them of the delay and return home to securely print the documents The contracting company sent instructions to the notary signing agent regarding the dress code requirement. The signing agent should: ✔✔Dress according to the instructions sent by contracting company When confirming the appointment with the borrower for their closing appointment, the notary signing agent should: ✔✔Confirm that the borrower will have acceptable identification Who determines the appropriate attire the notary signing agent should wear to a closing? ✔✔The contracting company While on the way to a signing appointment, the notary 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? ✔✔Complete the closing and ask for a hinge fee next time When the Notary Signing agent arrives at the signing appointment, they must present a _______ to the borrowers. ✔✔Government Issued ID A Notary Signing Agent should always record every Notarial Act performed at a closing in a journal. This is considered: ✔✔Required by the NNA code of conduct If your signing instructions require the loan documents to be signed in blue ink, it is permitted to sign in black ink when: ✔✔Never. You must follow the signing instructions If a Notary Signing Agent normally collects fingerprints for all signers in order to complete an authorization in a state where fingerprinting is not required, what should the signing agent do if at a closing the borrower refuses to provide their fingerprints to the Notary Signing Agent? ✔✔Complete the notarization anyway An experienced Notary Signing Agent may do all of the following except? ✔✔Explain to the signer why the loan they have is a great fit and why they have great term The best way to answer any questions that the borrower may have is to: ✔✔Call the loan officer when the borrower has any questions as they come up Which document represents the borrower's promise to repay the loan? ✔✔The Note Which of the following documents breaks down the monthly payment amount including principal/interest, taxes and insurance and also shows when the first payment will be due? ✔✔First payment letter If the deed of trusts says, "see exhibit A" in the section of the document that says legal description: ✔✔Exhibit A must be present During a loan signing appointment, the borrower asks if his closing costs are too high. How should you respond to the borrower? ✔✔Explain to the borrower that you are not allowed to discuss his loan rates but you can give his loan officer a call at the table if he needs further explanation on his closing costs 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? ✔✔Recommend the borrower stop and speak with their loan officer and discuss loan documents if he is uncomfortable closing at this time A borrower asks if they have escrow set up for property taxes and homeowners insurance. How do you respond as a notary signing agent? ✔✔Direct borrower to review the first page of the closing disclosure for that information Which document must the borrower receive at least 3 days before the closing day? ✔✔Closing disclosure Which type of loan will use a HUD-1 instead of closing disclosure ✔✔Reverse Mortgage A borrower asks you to explain several loan terms found in their loan package. How should you proceed? ✔✔Provide a general description of the loan terms and where that information can be found in the loan documents (never explain loan term) Heloc stands for: ✔✔Home equity line of credit A borrower asks for explanation of the Notary Signing fee found on the closing disclosure. How should you respond? ✔✔Offer to call the loan officer to explain the fee The SPW's code of conduct, prohibits which of the following actions: ✔✔Collecting your signing fee from the borrower in the event that the contracting company has not paid you for you notary signing agent services Which document is known as the final printed form of the loan application? ✔✔Uniform residential loan application Which document authorizes the lender to obtain copies of the borrower's tax returns? ✔✔Form 4506-T 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? ✔✔Recommend the borrower speak with their loan officer immediately to have any questions or concerns answered The right to cancel form allows the borrower to cancel their loan within 3 ____ days. ✔✔Business (Saturday included) Notarial Certificates on loan documents ✔✔Must be completed in the presence of the borrower The notarial evidence form is completed by: ✔✔The Notary Signing agent and returned to the contracting company 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: ✔✔After every closing before leaving the borrower's home A borrower asks the notary signing agent to email a copy of the loan documents to them. How should the notary signing agent proceed? ✔✔Do not send the requested documents but inform the contracting company or loan officer of this request Why should a Notary Signing Agent be knowledgeable about loan documents in a closing package if they can only present documents but not explain them? ✔✔It demonstrates to contracting companies that you are competent enough to oversee a loan signing appointment [Show More]

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