Notary Signing Agent Certification Midterm Exam: Questions and Answers, Exams of Nursing

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NOTARY SIGNING AGENT CERTIFICATION

MIDTERM EXAM 2024/2025 WITH LATEST

UPDATED QUESTIONS AND CORRECT AND

COMPLETE SOLUTIONS ALREADY GRADED A+

Who are the stakeholders in the loan process? - - CORRECT ANSWER>>> The stakeholders in the loan process are: the borrower, the lender, the contracting company, and the NSA(Notary Signing Agent) Who hires an NSA? - - CORRECT ANSWER>>> An NSA is hired by a contracting company to provide signing services and oversee the actual loan signing with the borrower. What is a contracting company? - - CORRECT ANSWER>>> A closing company could be:

• closing agent
• bank
• escrow company
• attorney
• signing service
• borrower's What types of transactions does a Signing Agent handle? - - CORRECT ANSWER>>> - Refinance
• Purchase and sale
• HELOC

• Construction
• Commercial
• Reverse Mortgage What are some Signing Agent DO's and DONT's? - - CORRECT ANSWER>>> You can:
• Print Loan documents
• Oversee the signing
• Notarize the appropriate documents
• Return the documents You can't:
• Process loans
• Conduct a settlement
• Prepare documents
• Offer am opinion or legal advice to the borrowers What are some examples of discriminatory or unfair practices? - - CORRECT ANSWER>>> - refusing to perform signing or providing inferior services based on clients race, color, national origin, religion, gender, sexual orientation, disability, family or migratory status
• making unprofessional and insensitive remarks about the clients culture, level of education or lifestyle
• Prompting the perception of unwelcome advances or a lewd act

• contracted with a signing service
• need not market yourself
• steady stream of work
• Pays flat rate
• Will work with less experienced notary signing agent's Direct assignments
• contracted directly with lenders, escrow agents, etc.
• rate may be negotiated
• Quick payment
• only work with experienced notary signing agent's How can you maintain your professionalism in different environments? - - CORRECT ANSWER>>> - manage your home environment on a call
• act professionally: phone, email and texting What do I do if the documents are in electronica format? - - CORRECT ANSWER>>> - receive documents via email or access contracting
• print documents on laser printer
• erase documents from your hard drive when the appointment is finished What basic steps are involved in prepping the documents for the signing appointment? - - CORRECT ANSWER>>> 1) look for a specific lender instructions 2)Use the prep sheet to organize the packet into note the stacking order 3)Check in flag the documents

4)Compile a list of questions for the contracting company, if necessary What information should you look for in the lender instructions? - - CORRECT ANSWER>>> - Who to call with questions during the signing

• what you should collect from the borrowers
• Number of copies to print
• ink color of the pen
• Special initial or signature instructions How do you check and flag documents? - - CORRECT ANSWER>>> - Place a sticky note at the beginning of each document
• Maintain the stacking order
• Place the closing disclosure or HUD-1 on top
• Look through every page in the packet and place a sticker for each signature/initial/date Where are the critical documents? - - CORRECT ANSWER>>> - Closing Disclosure
• HUD-1 Settlement Statement
• Truth in lending Disclosure
• Deed of Trust
• Note
• Notice of right to cancel Where are the common documents most likely to be notarized? - - CORRECT ANSWER>>> - occupancy affidavit

How should I respond to specific questions about the loan? - - CORRECT ANSWER>>> Change the borrowers"How/when/what" question into a where question What should I do with the loan documents are sent directly to the Borrowers? - - CORRECT ANSWER>>> - ask borrower to review the documents for names, property address, loan terms and dates

• Have borrower contact the lender to answer questions
• Verify borrowers ID
• Ask the borrower NOT to sign documents prior to the appointment Signing appointment order of tasks - - CORRECT ANSWER>>> 1) Manage the appointment logistics

2. Take the lead when you arrive
3. Arrange the workspace
4. review the process with the Borrowers
5. Request the Borrowers ID's
6. Show the borrowers their copies
7. Obtain the required Stipulations
8. Complete the journal entries
9. Present the loan documents Manage Appointment Logistics - - CORRECT ANSWER>>> - Confirm The appointment before the signing

• confirm the time of the appointment and get driving directions
• confirm the borrowers have the necessary IDs and stipulations ready

• if the documents were sent to the borrowers, confirm the receipt Plan for personal safety - - CORRECT ANSWER>>> - Become familiar with geographic areas you serve
• Determine if the signing location is safe
• Suggest an alternate location, if necessary Maintain agreed-upon arrangements - - CORRECT ANSWER>>> - Arrive and leave on time
• Confirm parking and any access instructions
• Keep your phone and the borrower's phone number with you at all times Represent your contracting company properly - - CORRECT ANSWER>>> - present yourself as if you work directly for the lender
• introduce yourself and present your ID
• dress according to your contract and company's policy
• A signing appointment as a business meeting: never bring children or friends, never leave a child or pet in the car, mute your phone and keep it out of sight. Review the process with the borrowers - - CORRECT ANSWER>>> - provide an overview of the signing
• give instructions for signing documents
• review your role in its limitations
• keep a list of questions
• offer to call your contracting company

6. show the borrowers their copies
7. obtain the required stipulations
8. complete the journal entries
9. present the loan documents
10. do a quality check What is involved with managing the appointment logistics? - - CORRECT ANSWER>>> - verify with borrowers ahead of time

• plan for your personal safety
• maintain agreed-upon arrangements
• represent your client properly
• be prepared to handle stressful situations How should you present yourself during an appointment? - - CORRECT ANSWER>>> - Dress appropriately
• Behave professionally How should you arrange the workspace? - - CORRECT ANSWER>>> - create a clean, organize workspace
• Seat if the borrowers appropriately around the table
• be prepared to deal with distractions How do you present a document? - - CORRECT ANSWER>>> 1. Read the document title

2. Describe the documents purpose in general terms
3. State the signing requirements for the document

How do you guide borrowers through executing a document? - - CORRECT ANSWER>>> 1. Present the document

2. Obtain signatures/initials/dates
3. Notarize if necessary Is there anything you need to do at the appointment after everything is signed? - - CORRECT ANSWER>>> - check for missed signatures, dates or initials

• Make sure all notary certificates are correct and complete What if the borrowers won't sign? - - CORRECT ANSWER>>> - Call the contracting company
• Halt the appointment Respecting the diversity of borrowers is the law: - - CORRECT ANSWER>>> Federal Laws:
• Office of fair housing and equal opportunity:Fair Housing Act
• Equal Credit Opportunities Act Apply to everyone in the lending process What types of transactions does the signing agent handle? - - CORRECT ANSWER>>> - refinance(most common)
• purchase and sale
• HELOC

Notary Identity Certification - - CORRECT ANSWER>>> - Should not be completed

• Asks that you certify that you are a notary
• You can't certify your own signature
• You can't stamp paper that does not contain Notarial wording. Blank Certificates - - CORRECT ANSWER>>> Never complete and return an extra acknowledgment or jurat that is not attached to a document. It is illegal Borrowers Certification Authorization - - CORRECT ANSWER>>> This document certifies all of the information provided in the loan application is true and complete. This is the Borrower's Certification and Authorization. By signing this document the borrower agrees and certifies that the information contained in the borrower's loan application is true and complete, without misrepresentation or omission of important facts. The borrower also authorizes the lender to release loan-specific information to an investor looking to purchase the loan in the secondary market. Information provided to the investor could include the borrower's employment history and income, bank account balances, credit history and copies of the borrower's income tax returns. Compliance Agreement - - CORRECT ANSWER>>> Compliance Agreement. 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. Signing Presentation Guidelines Additional Information

This is the Compliance Agreement. This document states that the borrower agrees to cooperate with the lender or lender's agent in fixing clerical errors on the documents after the property closes. Depending upon the lender, this document may or may not be notarized. Compliance Agreements may come in several forms: • Errors & Omissions Agreement

• Document Correction Agreement
• Correction Agreement Some variations (Correction Agreement - Limited Power of Attorney) give an agent of the lender permission to fix the clerical errors on the borrower's behalf. It speeds up the process of correcting the documents by giving someone who works for the lender the power to make corrections on the borrower's behalf. What is the best order in which to complete the signing appointment - - CORRECT ANSWER>>> 1)Manage appointment logistics 2)Take the lead when you arrive 3)Arrange the workspace 4)Review the process with the borrowers 5)Request the borrower's ID's 6)Show the borrowers their copies 7)Obtain the required stipulations 8)Complete the journal entries 9)Present the loan documents 10)Do a quality check