NOTARY Signing Agent Study guides, Class notes & Summaries

loan signing notary exam with correct answers

Who are the stakeholders in the loan process? : The stakeholders in the loan process are: the borrower, the lender, the contracting company, and the NSA(Notary Signing Agent) Who hires an NSA? : An NSA is hired by a contracting company to provide signing services and oversee the actual loan signing with the borrower. What is a contracting company? : A closing company could be: -closing agent -bank -escrow company -attorney -signing service -borrower's 2 | P a g e What types o...

Notary Signing Agent : A notary who specifically trained to handle and notarized loan documents; plays a critical role in many mortgage transactions nationwide The Five Requirements : The created five standards required of all NNA NSA candidates: 1. Signing and adhering today the notary signing agent code of conduct 2. Passing and annual certification examination 3. Submitting to an annual background screening 4. Using the signing presentation guidelines 5. Owning notary errors and...

A Notary Signing Agent is required to have a background screen when? : Every year to maintain industry standards When should the notary signing agent ask if the date and time of the signing appointment has been set and also if there are any additional stipulations needed to complete this closing? : On the initial phone call with the contracting company A notary signing agent just received documents for a closing scheduled in 1 hour but will not have time to return home to print. How sh...

A Notary Signing Agent is required to have a background screen when? : Every year to maintain industry standards When should the notary signing agent ask if the date and time of the signing appointment has been set and also if there are any additional stipulations needed to complete this closing? : On the initial phone call with the contracting company A notary signing agent just received documents for a closing scheduled in 1 hour but will not have time to return home to print. How sh...

Notary Signing Agent HELOC Home Equity Line of Credit Construction Loan A short-term, interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses or is converted to a mortgage. Reverse Mortgage A loan based on the equity in a home that provides homeowners with tax-free income and is paid back with interest when the home is sold or the homeowner dies. No payment as long as the borrower lives in the home. Things ...

NOTARY Signing Agent Certification Exam Who are the stakeholders in the loan process? The stakeholders in the loan process are: the borrower, the lender, the contracting company, and the NSA(Notary Signing Agent) Who hires an NSA? An NSA is hired by a contracting company to provide signing services and oversee the actual loan signing with the borrower. What is a contracting company? A closing company could be: -closing agent -bank -escrow company -attorney -signing service -borrowe...

HELOCHome Equity Line of Credit Construction LoanA short-term, interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses or is converted to a mortgage. Reverse MortgageA loan based on the equity in a home that provides homeowners with tax-free income and is paid back with interest when the home is sold or the homeowner dies. No payment as long as the borrower lives in the home

1003 - Uniform Residential Loan ApplicationStandard form completed by borrowers when applying for a mortgage loan. A borrower lists all assets and liabilities on the form, also includes a section for income, including two years of employment history and monthly household income. ACKNOWLEDGEMENTFormal declaration before a public official that one has signed a document prior to recording real estate documents, such as grant deeds and deeds of trust, a Notary Public acknowledges the pers...

NOTARY Signing Agent Certification Exam Questions and Answers

Notary Signing Agent Certification Study Guide Questions and Answers- Part 1