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Notary Signing Agent Exam Questions And Accurate Answers
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Notary Signing Agent Exam Questions And AccurateAnswers 2024-2025
Borrower's Certification Authorization - Answer This document certifies all of the
information provided the loan application is true and complete
Closing Disclosure - Answer (Combines and replaces the HUD/Settlement Statement
and Truth in Lending (TIL) statement for most loans applied for beginning October 3,
2015 )The Closing Disclosure itemizes all closing costs. Page 1 includes loan amount,
interest rate, projected monthly payments, closing costs and cash to close. The rest of
the pages are devoted to the details of closing cost, payoffs and payments, cash to
close calculations, disclosures, loan calculations, and contact information. Note: This
form should have been provided by the lender to the borrower prior to the closing.
Errors & Omissions (E&O) and Compliance Agreement - Answer This states that if there
are any typographical or clerical errors on the closing documents, the borrower would
agree to sign any documents that had to be corrected.
Flood Hazard Notice - Answer This indicates whether or not the property is in an area
designated as a flood zone area.
Form 4506-T Request for Transcript of Tax Return - Answer This form gives permission
to the lender to pull transcripts on tax returns.
GFE/Good Faith Estimate - Answer replaced by the Loan Estimate for most loans applied
for beginning October 3, 2015 The Good Faith Estimate is an estimate of all closing fees
including pre-paid and escrow items as well as lender charges. The bottom portion of
Page 3 reflects the loan terms. The amount borrowed, rate, term, principal and interest
payment, and total payment appear on the bottom. (If the borrower has questions
related to these amounts, direct the borrower to the lender.)
HUD/Settlement Statement - Answer The HUD/Settlement Statement itemizes all closing
costs; on pages 1 and 2 items that appear on this statement include real estate
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