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NOTARY Signing Agent Certification Exam Questions And Accurate Answers
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NOTARY Signing Agent Certification Exam QuestionsAnd Accurate Answers
Who are the participants in the loan process? -Answer There are four major participants
in the loan process, which include: the borrower, the lender, the contracting company
and the NSA, Notary Signing Agent.
Who hires the NSA? -Answer An NSA is hired by a contracting company who is
employed to provide services for signing and overseeing the actual signing of the loan
with the borrower.
What is a contracting company? -Answer A closing company can be:
-closing agent
-bank
-escrow company
-attorney
-signing service
-borrower's
Signing Agent Transaction Types - Answer -Refinance
-Purchase and sale
-HELOC
-Construction
-Commercial
-Reverse Mortgage
Signing Agent DO's and DONT's - Answer You may:
-Print Loan documents
-Monitor the signing
, -Notarizing the appropriate documents
-Returning the documents
You may not:
-Originating loans
-Conduct settlement
-Preparing the documents
-Provide an opinion or legal advice to the borrowers
What does it include? Examples of discriminatory or unfair practices: - Answer -refusing
to sign or providing substandard order services based on the clients race, color,
national origin, religion, gender, sexual orientation, disability, family or migratory status
-making uninhibited and offensive remarks about the clients cultural background,
education or life style
-creating an environment that would be perceived as unwanted advances or a lewd act
Where does the NSA fit in the loan process? - Answer 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 major responsibilities of a Signing Agent? - Answer Major responsibilities
include:
-Travel to the borrower
-Oversee the Signing
-Collect stipulations and notarize applicable documents
-Ensure that the documents are signed, dated or initialed correctly
-Review all the documents
-Return the documents to the contracting company.
How does a Signing Agent's performance affect the SLA (Service Level Agreement)? -
Answer Your poor performance can negatively affect the payment to the contracting
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