NOTARY Signing Agent Certification Exam Verified Answers

NOTARY Signing Agent Certification Exam Verified 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 What types of transactions does a Signing Agent handle? ️-Refinance -Purchase and sale -HELOC -Construction -Commercial -Reverse Mortgage What are some Signing Agent DO's and DONT's? ️You can: -Print Loan documents -Oversee the signing -Notarize the appropriate documents -Return the documents You can't: -Process loans -Conduct a settlement -Prepare documents -Offer am opinion or legal advice to the borrowers What are some examples of discriminatory or unfair practices? ️-refusing to perform signing or providing inferior services based on clients race, color, national origin, religion, gender, sexual orientation, disability, family or migratory status -making unprofessional and insensitive remarks about the clients culture, level of education or lifestyle -Prompting the perception of unwelcome advances or a lewd act Where does the NSA fit in the loan process? ️You may be the first or the only person the borrower meets. Although you are involved in only one step, the whole loan process hinges on how well you do your job. What are the key responsibilities of a Signing Agent? ️Key responsibilities: -Travel to the borrower -Oversee the Signing -Collect stipulations and notarize applicable documents -Ensure that the documents are signed, dated or initialed properly -Review all the documents -Return the documents to the contracting company. How does a Signing Agent's performance affect the SLA(Service Level Agreement)? ️Your poor performance can negatively affect the payment to the contracting company How can a Signing Agent provide superior customer service ️You can: -Be positive and Confident -Be Prompt -Be accurate -Be dependable What Is the difference between brokered and direct assignments? ️Brokered assignments -contracted with a signing service -need not market yourself -steady stream of work -Pays flat rate -Will work with less experienced notary signing agent's Direct assignments -contracted directly with lenders, escrow agents, etc. -rate may be negotiated -Quick payment -only work with experienced notary signing agent's How can you maintain your professionalism in different environments? ️-manage your home environment on a call -act professionally: phone, email and texting What do I do if the documents are in electronica format? ️-receive documents via email or access contracting -print documents on laser printer -erase documents from your hard drive when the appointment is finished What basic steps are involved in prepping the documents for the signing appointment? ️1) look for a specific lender instructions 2)Use the prep sheet to organize the packet into note the stacking order 3)Check in flag the documents 4)Compile a list of questions for the contracting company, if necessary What information should you look for in the lender instructions? ️-Who to call with questions during the signing -what you should collect from the borrowers -Number of copies to print -ink color of the pen -Special initial or signature instructions How do you check and flag documents? ️-Place a sticky note at the beginning of each document -Maintain the stacking order -Place the closing disclosure or HUD-1 on top -Look through every page in the packet and place a sticker for each signature/initial/date