Examen
Common Loan Signing Agent Documents Exam Questions and Answers
Common Loan Signing Agent Documents Exam Questions and Answers
[Montrer plus]
Vendeur
S'abonner
Aperçu du contenu
Common Loan Signing AgentDocuments
Borrower's Instructions - Question and answersThis is how the borrower intends on
receiving any proceeds from title
Tile company - Question and answersThey are essentially the third party agent for a
real estate transaction between the borrowers sellers, mortgage loaners and insurance
companies
Escrow Company - Question and answershold money or documents until certain terms
and conditions of the escrow are met.
Escrow Amendment - Question and answersDescribes any changes made to the
original escrow instructions. It may say that the borrower has qualified for a new loan
with a different rate "like in a refi"
mortgagor's affidavit - Question and answersBy completing the affidavit, the borrower
ensures that there have been no significant changes to their financial situation,
ownership status or condition of the property.
Limited Power of Attorney - Question and answersIf there is a typo sort of error, the
signer is giving their agent, which is listed at the top of the page, permission to make
changes and initial them on their behalf
Notice to Borrower - Question and answersThis document is noticing the signer of a few
details like the fact that the title company is held harmless in certain situations.
GAP Affidavit/indemnity - Question and answersThis document states the risk and
liabilities of the title company between the recorded date and the date of the closing
Affiliated business arrangement disclosure statement notice - Question and
answersThis states companies affiliated with title and they are basically recommending
the businesses to the buyer
Hold Harmless Agreement - Question and answersIt says that the title company is not
legally responsible is there are any changes or rises in costs or liabilities.
HOA Directive - Question and answersThis says that the signer will handle HOA related
things outside of closing and not through the title companies. If there are any HOA
related disputes that Title is held harmless.
, Note - Question and answersstates the borrowers promise to pay along with the terms
and what happens if they fail to comply.
Deed of Trust - Question and answersIt is the deed that shows that the lender has an
interest in the property while the landowner is paying the mortgage. A third party acts as
the trustee which holds the property until the borrower has paid their debt. Secures the
subject property as collateral in consideration for the loan
Revocable Trust - Question and answersprovisions(contents) of the trust can be altered
or the entire trust revoked
Condominium Rider - Question and answersThe signer agrees to comply with all of the
condominium rules, including paying all dues. The lender may pay them, but it will be
added to the loan amount with interest.
closing disclosure - Question and answersProvides final details about the mortgage
loan you have selected. It includes the loan terms, your projected monthly payments,
and how much you will pay in fees and other costs to get your mortgage (closing costs).
closing costs - Question and answersfees involved in arranging for a mortgage or in
transferring ownership of property
CA Impound disclosure/waiver - Question and answersA borrower may pay things like
property taxes and insurance premiums into impound accounts. The lender will pay
interest on money deposited into the impound account.
signature/name affidavit - Question and answersit is confirming that the signer is signing
with their legal name
Affidavit of occupancy - Question and answersIt says how the signer is related to the
property. Is it their primary residence, second home, or investment property.
Loan Quality Initiative disclosure - Question and answersIt is saying that the debts of
the borrowers must be disclosed. It also says that the borrowers credit score will be
monitored throughout the lone process until loan disbursements are made
Borrower affidavit - Question and answersborrower attests that they have not done
anything to affect the title to property since the loan application started.
EX. Have they acquired any debt or lost their job. Things like that
Borrowers certification and authorization - Question and answersThis document certifies
all of the information provided in the loan application is true and complete. It also says
that in an effort to verify information, the lender may share your information with
insurance companies.
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur kpeter21739. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour 9,86 €. Vous n'êtes lié à rien après votre achat.
Peut-on faire confiance à Stuvia ?
4.6 étoiles sur Google & Trustpilot (+1000 avis)
69605 résumés ont été vendus ces 30 derniers jours
Fondée en 2010, la référence pour acheter des résumés depuis déjà 15 ans