Loa Sign Test 4; All solved

The Note is the loan agreement, and it outlines the terms of the loan. correct answers True One part of the "TILA- RESPA integrated Disclosure" (TRID) rule that affects signing agents is the: correct answers Closing Disclosure, which consolidates the Truth-in- Lending (TIL) disclosure and the HUD-1 Settlement Statement. Which document replaces the Good Faith Estimate and the "early" Truth in Lending Disclosure. correct answers The Loan Estimate form. The new Closing Disclosure replaces which two documents as of October 2015? correct answers The HUD- 1 and the Truth in Lending Disclosure. A Notary Signing Agent shows up to an assignment only to discover it has been rescheduled at the last minute for the following day. What is the agent required to do with the documents? correct answers Return them to the Contracting Company Which document represents the borrower's promise to repay the loan? correct answers Deed of Trust Mortgage If during the signing appointment the borrower divulges that the property being financed is an investment property, while the loan papers indicate it is for a primary residence, the Notary Signing Agent should: correct answers Contact the lender's representative immediately before signing the documents. The Note includes the impact of impounds such as real estate taxes, Percentage charged by the lender if payment is more than 15 days late. correct answers False Can a notary public notarize a sworn statement if the person refuses to take the oath "swear to God" because of religious reasons? correct answers Yes, as long as the person "affirms" that the facts stated are true to the best of his/her knowledge The SPW's Code of Conduct strictly prohibits Notary Signing Agents from: correct answers Collecting the Signing fee from the Borrower The "TILA-RESPA Integrated Disclosure" (TRID) rule will affect the loan signing process and the documents Notary signing agents work with during assignments. It went into effect in Fall 2015. correct answers True In which of the following cases may personal appearance by a signer be waived? correct answers When an the signer is the Principle's attorney in fact.