Signing Notary Test 1 Questions and Answers Already Passed

Signing Notary Test 1 Questions and Answers Already Passed Why do some Mortgages Signing Agencies require Mortgage Signing Agents to submit a Live Scan Fingerprint Background check each year. Lender need to make sure that consumers and their financial information which is entrusted to Notaries remains protected and secure. Lenders are ultimately responsible for the conduct of any third-party service providers, making it critically important to verify that the people lenders send to borrowers' home are trustworthy. In order to open and view a PDF (portable document format) Signing agents can install and use the Free adobe Reader program. The term "critical docs" refers to which of the following docuements? Mortgage or Deed of Trust, Closing Disclosures, Notice of Right to Cancel, and Note. Many mortgage and tile companies give preference to notaries who are certified by the National Notary Association. True How should the NSA organize the work space in order ensure a successful and efficient loan signing? Clear the table to desk to clutter Set food beverages aside Arrange the seating Mobile Notary Signing Agents: Must be very detail- oriented, because the slightest oversight could nullify a legal transaction. Should enjoy traveling and be able to locate unfamiliar addresses. Should posses excellent social skills, and enjoy meeting people and interacting with others on a personal but professional basis. The Notarial Evidence Form Is completed by the Notary Signing Agent and returned to the lender. A Mortgage Signing Agent must be able to communicate with the Signers, and and interpreter cannot be used. True The Notarial Evidence Form is also A record of notarization s performed in a transaction involving the purchase, or refinancing of real estate that is completed by Notary Signing Agent. Is Always required Regarding Signing Companies They are companies that most notary signing agents are familiar with because the majority of them start out by working for them. Notary signing agents receive less money working for a signing company compared to a mortgage or title company. Working for Signing Companies allow Notary signing agents to gain experience and build a reputation for the quality of your work. A Mortgage Company Can either be an Independent Lender or can be directly connected to the financial institution that finances mortgage loans. Usually pay the NSA more than a Signing Agency/ Company Which of the following types of companies employ Notary Signing Agents? Mortgages Companies Title Companies Signing Companies Why does the lender need the IRS Form W-9? To verify the borrower's taxpayer ID number New Notary Signing Agents generally work for Signing Agencies / Companies Because, they do not have any solid experience and also do not have reputation in the field yet. Because , Mortgage and Title companies usually only deal with experience and knowledgeable notaries who have a reputation for dependability and a high level of knowledge in the industry. Because, unless they personally know someone in the Mortgage/ Title industry, it is extremely difficult to get assignments. Approaching Mortgage and Title companies at this stage could risk ruining their reputation in the industry when errors occur. The National Notary Association is a private company True When Signing Agents receive documents electronically: The Signing Agent is responsible for printing out Two sets of copies so one set can be left with the borrower(s). The company normally pays the Signing Agent an additional fee for this service. Once the documents are signed and notarized, the company will provide the Signing Agent with their procedure for mailing the documents back to them. Most companies provide the Signing Agent with their UPS account number so they will be charged for the postage when the documents are received. Others may have alternative methods. But under no circumstance should the Signing Agent be responsible for paying the overnight postage to return mortgage documents to the lender. SPW is the abbreviation for? Signing Professionals Work-group Which of the following documents does the borrower sign as a compromise to cooperate with the lender in adjusting loan documents for clerical errors after the loan closes? Errors and Omissions Compliance Agreement The Document Signer name on the document reads John Williams, the identification document can read: John P. Williams John Williams John Paul Williams Every set of mortgage documents: Could be between 50 to 300 pages. The number of pages will vary because every loan is unique and different. Will always have a new form showing up from time to time that the Mortgage Signing Agent may not be familiar with All signing Agents must become Certified by the National Notary Association (NNA) to work as a Notary Signing Agent? False The document in which a borrower acknowledges that all information provided in the loan application is true and correct is: Borrower's Certification Authorization The National Notary Association is affiliated with the California Secretary of State False Which of the following documents itemizes actual closing services and fees charged? Closing Disclosure A Certified Mortgage Signing must renew the certification every. year Before a Mortgage Signing Appointment The Mortgage Signing Company will send two sets of mortgage documents by either Federal Express or UPS Overnight Most companies will save the postage and printing expense and send the mortgage documents to the notary in PDF Format by E-mail. NNA is the abbreviation for National Notary Association True When should the NSA determine if the date and time of the signing appointment are set and ask about any additional stipulations? During the initial phone call from the contracting company Regarding Signing Company method of payment : Some companies want the invoice to be sent to a specific address. Others will have the Signing Agent will fill out the invoice and fax it to them. Every company utilizes unique procedures , many Signing Agents have never received payment for their services, simply, because they did not comply with the payment procedures implemented by the Signing company. The most basic function of a Mortgage Signing Agent. To serve as an impartial witness for the signing of mortgage loan documents.