Loan signing agent terms - Study guides, Class notes & Summaries

AFFILIATED BUSINESS ARRANGEMENT (AfBA) - A financial interest in a business that could provide services to a borrower in a loan transaction. The lender is required to disclose such affiliations to the borrower and may not require that the borrower use the affiliate. Disclosure is also required when it is the policy of the lender to share private information of borrowers with its affiliates. The borrower may refuse permission to share information by returning the notice indicating that they O...

ADJUSTABLE RATE MORTGAGE (ARM) - A loan where the interest rate is periodically adjusted based on a specific economic indicator (or financial index). ACCELERATION CLAUSE - Allows a loan to become due and payable immediately if certain requirements are not met, such as making payments, maintaining the physical condition of the property or paying property taxes and hazard insurance. ABROGATION - To nullify or replace. Signing of the closing documents nullifies the Real Estate Purchase Contra...

Agent Regulations - Equipment : - $3,000 worth of equipment per year for each player. - Applies to all players regardless of roster status. - Within 48 hours of an agent change, must report to MLBPA total amount of equipment purchased. - Annual disclosure must be submitted to MLBPA no later than 3/1. Agent Regulations - Fee Statements : Must be submitted no later than 3/1. Agent Regulations - Loans : - Loans prohibited w/o prior written approval by MLBPA. - Applies to ALL players....

Loa Sig Test #6 A notary Signing Agent is asked to describe several of the loan terms at a signing appointment. The Notary Signing Agent may: - Provide only a general description of the loan terms A Notary Signing Agent has been providing signing services with no incidents for over 10 years without having undergone a background screening. There fore he/she: - Must undergo a background screening in order to become a "Certified" Notary Signing Agent The Certified Signing Specialist w...

Loa Sig Test 6 | Questions with 100% Correct Answers | Latest Update 2024 | Verified A notary Signing Agent is asked to describe several of the loan terms at a signing appointment. The Notary Signing Agent may: - Provide only a general description of the loan terms A Notary Signing Agent has been providing signing services with no incidents for over 10 years without having undergone a background screening. There fore he/she: - Must undergo a background screening in order to become a "Cer...

Loa Sig Test #6 Exam Questions With 100% Correct Answers 2024 A notary Signing Agent is asked to describe several of the loan terms at a signing appointment. The Notary Signing Agent may: Provide only a general description of the loan terms A Notary Signing Agent has been providing signing services with no incidents for over 10 years without having undergone a background screening. There fore he/she: Must undergo a background screening in order to become a "Certified" Notary Signing Agen...

GENERAL PARTNER - A partner who has full authority to make decisions, act for the partnership, and has full liability for the business dealings of the partnership. ACCELERATION CLAUSE - Allows a loan to become due and payable immediately if certain requirements are not met, such as making payments, maintaining the physical condition of the property or paying property taxes and hazard insurance. IMPOUND, RESERVE OR ESCROW ACCOUNT - A trust account established to set aside funds for future n...

Notary Signing Agent Study Guide Rated A+ 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 t...

Loan Signing & Real Estate Definition 100% Correct Borrower (Mortgagor) An individual who applies for and receives funds in the form of a loan and is obligated to repay the loan in full under the terms of the loan. Title Title is the document that gives evidence of ownershipof a property. Also indicates the rights ofownership and possession of the property. Individualswho will have legal ownership in theproperty are considered "on title" and will sign themortgage and other documentation Refi...

Notary Signing Agent Reloaded When would the Right of Rescission period end if refinance documents for a borrower's primary residence were signed on Thursday, October 25th at 8pm? - Monday October 29th at midnight Which document(s) specify the interest rate being charged for a loan? - Note Which of the following questions can a notary signing agent answer without supplying unauthorized or illegal assistance? - Where are my interest rate and monthly payment amount listed? Durin...