Loan Sig Test #6 Questions And Answers

Loan Sig Test #6 Questions And Answers A notary Signing Agent is asked to describe several of the loan terms at a signing appointment. The Notary Signing Agent may: - ANS Provide only a general description of the loan terms A Notary Signing Agent has been providing signing services with no incidents for over 10 years without having undergone a background screening. Therefore he/she: - ANS Must undergo a background screening in order to become a "Certified" Notary Signing Agent The Certified Signing Specialist will not make exaggerated or excessive claims, promises or guarantees about the Specialist's services. - ANS True Some Lenders require NSAs to complete a "notarial evidence" form. The form includes a section to record the Notary's name, commission number and expiration date, the names of all signers at the loan signing appointment and the method used to identify them, and the loan number. It also includes descriptions of each loan document notarized and the date, time, and type of notarial act performed. The "notarial evidence" form is completed separate and part from the NSA's journal entries for the loan documents and sent in with the signed loan documents and other stipulations from the loan signing. - ANS True The best way to address a borrower's questions that the Notary Signing Agent is not allowed to answer , is to: - ANS Recommend that the borrower contact the lender's representative immediately before signing the documents. While on the way to a signing, a Notary Signing Agent realizes that the location is outside his normal territory and he should have negotiated a higher travel fee. The most appropriate action the NSA should take is to: - ANS Negotiate a higher travel fee for the next assignment in that area. A borrower questions the amount of the "Notary/Signing Fee" appearing on the settlement statement. The Notary Signing Agent should: - ANS Recommend that the borrower contact the lender's representative before signing the documents. Acme Direct Funding's loan package contains an additional acknowledgement certificate with instructions for the Notary Signing Agent to sign and affix a seal impression and return the