Loa Sig Test #6

Loa Sig Test #6 A notary Signing Agent is asked to describe several of the loan terms at a signing appointment. The Notary Signing Agent may: - 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. There fore he/she: - 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. - 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. - True The best way to address a borrower's questions that the Notary Signing Agent is not allowed to answer , is to: - 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: - 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: - 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 certificate with completed documents. Which of the following is he best course of action for the agent to take? - Refuse to sign and seal the Acknowledgement certificate. A Notary Signing Agent consistently follows the practice of obtaining borrowers' thumbprints in his or her journal, but is commissioned in a state that does not require journal thumbprints. A borrower has complied with all other notarization requirements, but objects to leaving her thumbprint in the journal. What should the Notary Signing Agent do? - Complete the Signing assignment. The lenders representative calls the Notary Signing Agent prior to an assignment that afternoon to inform the agent that the borrower will be represented by a attorney in fact. This is considered: - Permissible A Notary Signing Agent with nearly 10 years experience has reviewed and is completely familiar with all the documents in a loan package. When meeting with the borrower, the Notary Signing Agent may now: - State the name and purpose of the Loan documents. Discrepancies in Names: The Certified Signing Specialist will not notarized the signature of a signing party whose name on the document cannot be verified with reasonable certainty by examining a written identification document or by the oaths of credible witnesses. - True A borrower presents ID at a closing that is in her married name, while the documents are drawn up in her maiden name. The borrower explains that she has recently divorced. In order to proceed, the Notary Signing Agent should: - Ask the Signer to present a different "state authorized" supplemental indentification document which shows her maiden name. Solicitation of Outside Business The Certified Signing Specialist will not directly or indirectly solicit a signer for products or services other than as a Certified Signing Specialist or Notary Public at an appointment to provide signing services or any written, verbal