Notary Loan Signing Agent Terms question and answers 2023

Notary Loan Signing Agent Terms question and answers 2023 ACKNOWLEDGEMENT - correct answer Formal declaration before a public official that one has signed a document AKA (also known as) - correct answer A person who is also known by other names ALLONGE - correct answer a document used to transfer the interest in a Note from one lender to another. APA (All Purpose Acknowledgment) - correct answer Shows that a notary public has established the identity of the signer(s) and witnessed the signature of a document. APR (Annual Percentage Rate) - correct answer The interest rate for a whole year (annualized), rather than just a monthly fee/rate ARM (Adjustable Rate Mortgage) - correct answer A mortgage where the interest rate is not fixed for the life of the loan. ATTORNEY STATES - correct answer States that require that closings be conducted by an attorney as opposed to a Notary. Notaries can be used for Home Equities & Refinances. BALLOON PAYMENT - correct answer A loan which does not fully amortize over the term of the loan. BUYER - correct answer Person(s) purchasing property CLOUD ON TITLE - correct answer Deed that is recorded but includes an unusual characteristic that would give a person pause before accepting title.