During a signing appointment, a borrower asks the
Notary Signing Agent if his loan rate is competitive.
How should the NSA respond? - ....ANSWER...explain
the to the borrower that a Notary Signing Agent is not
permitted to discuss loan rates
A Notary Signing Agent regularly records all notarial acts
performed at a closing in a journal. This is considered: -
....ANSWER...A practice required by the Code of
Conduct
A borrower expresses a reluctance to continue signing
documents. The Notary Signing Agent may: -
....ANSWER...Recommend that the borrower contact the
lender's representative immediately before signing any
more documents
1
,A borrower expresses concern that once he signs all the
documents he will be "stuck" with a second mortgage. A
good response by a Notary Signing Agent could be to: -
....ANSWER...Recommend that the borrower contact his
lender's representative and provide the phone number
Explaining to a borrower the fees that make up the
Annual Percentage Rate (APR) of a borrower's loan is: -
....ANSWER...Permissible if the Notary Signing Agent
has the breakdown of the fees
A borrower questions the amount of the "Notary/Signing
Fee" appearing on the settlement statement. The Notary
Signing Agent should: -
....ANSWER...Offer to call the closing agent to explain
the fee
The best way to address a borrower's questions that the
Notary Signing Agent is not allowed to answer, is to -
....ANSWER...Make a list of the questions to ask the
contracting company before the end of the signing
One of the parties at a signing appointment asks a
question regarding their first payment due. How should
the Notary Signing Agent respond? -
2
,....ANSWER...Direct the parties to read the information
in the appropriate document
A borrower asks the Notary Signing Agent for the
contact information for the closing agent and the
lender's representative. The Notary Signing Agent should
respond by: - ....ANSWER...providing the borrower with
the information for both contacts
A Notary Signing Agent is asked to describe several of
the loan terms at a signing appointment. The Notary
Signing Agent may: - ....ANSWER...provide only a
general description of the loan terms and indicate where
in the documents the information may be found
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: -
....ANSWER...explain that the closing agent for the
transaction needs to be contacted before resuming the
signing
The Notary Signing Agent has commenced a loan
signing with a borrower and the borrower's mortgage
broker. The mortgage broker asks to speak in private
with the borrower for a few minutes. The Notary
3
, Signing Agent returns to find the mortgage broker alone
and all the documents signed. The Notary Signing
Agent should: -
....ANSWER...Take the loan package, and call the closing
agent to report the incident immediately
If the Mortgage/Deed of Trust contains the phrase "See
Exhibit A" in the section of the document containing the
property's legal description: -
....ANSWER...The Exhibit A must be present
Acme Direct Funding's loan package contains an
additional acknowledgment certificate with instructions
for the Notary Signing Agent to sign and affix a seal
impression and return the certificate with the completed
documents. Which of the following is the best course of
action for the agent to take? - ....ANSWER...Refuse to
sign and seal the additional certificate
The lender's representative calls the Notary Signing
Agent prior to an assignment that afternoon to inform
the agent that the borrower will be represented by an
attorney in fact. This is considered: -
....ANSWER...Acceptable and the agent may commence
the signing appointment
4
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