Loa Sig Test 6 Questions and Answers
Passed with 100%
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
...
Loa Sig Test 6 Questions and Answers
Passed with 100%
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 will not make exaggerated or excessive claims, promises or
guarantees about the Specialist's services. ✔✔True
Some Lenders require NSAs to complete a "notarial evidence" form.
The form includes a section to record the Notary's name, commission number and expiration
date, the names of all signers at the loan signing appointment and the method used to identify
them, and the loan number.
It also includes descriptions of each loan document notarized and the date, time, and type of
notarial act performed.
The "notarial evidence" form is completed separate and part from the NSA's journal entries for
the loan documents and sent in with the signed loan documents and other stipulations from the
loan signing. ✔✔True
The best way to address a borrower's questions that the Notary Signing Agent is not allowed to
answer , is to: ✔✔Recommend that the borrower contact the lender's representative immediately
before signing the documents.
While on the way to a signing, a Notary Signing Agent realizes that the location is outside his
normal territory and he should have negotiated a higher travel fee. The most appropriate action
the NSA should take is to: ✔✔Negotiate a higher travel fee for the next assignment in that area.
A borrower questions the amount of the "Notary/Signing Fee" appearing on the settlement
statement. The Notary Signing Agent should: ✔✔Recommend that the borrower contact the
lender's representative before signing the documents.
Acme Direct Funding's loan package contains an additional acknowledgement certificate with
instructions for the Notary Signing Agent to sign and affix a seal impression and return the
certificate with completed documents. Which of the following is he best course of action for the
agent to take? ✔✔Refuse to sign and seal the Acknowledgement certificate.
A Notary Signing Agent consistently follows the practice of obtaining borrowers' thumbprints in
his or her journal, but is commissioned in a state that does not require journal thumbprints. A
borrower has complied with all other notarization requirements, but objects to leaving her
thumbprint in the journal. What should the Notary Signing Agent do? ✔✔Complete the Signing
assignment.
The lenders representative calls the Notary Signing Agent prior to an assignment that afternoon
to inform the agent that the borrower will be represented by a attorney in fact. This is considered:
✔✔Permissible
A Notary Signing Agent with nearly 10 years experience has reviewed and is completely familiar
with all the documents in a loan package. When meeting with the borrower, the Notary Signing
Agent may now: ✔✔State the name and purpose of the Loan documents.
Discrepancies in Names: The Certified Signing Specialist will not notarized the signature of a
signing party whose name on the document cannot be verified with reasonable certainty by
examining a written identification document or by the oaths of credible witnesses. ✔✔True
A borrower presents ID at a closing that is in her married name, while the documents are drawn
up in her maiden name. The borrower explains that she has recently divorced. In order to
proceed, the Notary Signing Agent should: ✔✔Ask the Signer to present a different "state
authorized" supplemental indentification document which shows her maiden name.
Solicitation of Outside Business
The Certified Signing Specialist will not directly or indirectly solicit a signer for products or
services other than as a Certified Signing Specialist or Notary Public at an appointment to
provide signing services or any written, verbal or electronic communication in connection with
the assignment. ✔✔True
The Notarial Evidence Form is completed by: ✔✔The Notary Signing Agent and returned to the
Contracting Company.
One of the parties at a signing appointment asks a question regarding their first payment due.
How should the Notary Signing Agent respond? ✔✔Direct the parties to read the First payment
Letter which states when the borrower's first payment is due, and what it has been estimated to
be.
Notarial certificates on loan documents: ✔✔Must be completed in the presence of the Borrower
A Notary Signing Agent regularly records all notarial acts performed at a closing in a journal.
This is considered: ✔✔A requirement by law
A Notary Signing Agent wants to stand out from other NSAs by guaranteeing to borrowers and
contracting companies that all of her loan signings will take 30 minutes or less. This is:
✔✔Prohibited if it is stated to be a guarantee.
Upon arrival to meet the borrower for a signing appointment, a Certified Notary Signing Agent
must present. ✔✔Government issued Identification
Which of the following parties is permitted to view all entries in the Notary Signing Agent
Notary journal? ✔✔A Police/Peace Officer
Truth -in-Lending Disclosure:
Federal law requires written disclosure of the terms of a mortgage by a lender to a prospective
borrower within three business days of application.
Discloses the following to the borrower:
annual percentage rate
finance charges
amount financed
total number of payments
the amount of each payment associated with the loan ✔✔True
When confirming an appointment to sign documents with a borrower, the Notary Signing Agent
should: ✔✔Confirm that acceptable identification will be available during the Signing
Appointment.
Drawing, providing, and recording documents are performed by ✔✔The Closing Agent
The Notary Signing Agent has commenced a loan signing with a borrower and the borrower's
mortgage broker. The mortgage broker alone and all the documents signed. The Notary Agent
should: ✔✔Take the Loan Package and then contact the Closing Agent to report the incident.
A Notary Signing Agent decides to expand his business by offering new services. With respect to
advertising, the NSA should avoid: ✔✔Pitching the new services during the Signing
appointment.
What is Notarial Evidence Form? ✔✔Includes a section to record the Notary's name,
commission number and expiration date, the names of all signers at the loan singing appointment
and the method used to identify them, and the loan number.
It also includes descriptions of each loan document notarized and the date, time and type of
notarial act performed.
A form that is completed separate and apart from the NSA's journal entries for the loan
documents and sent in with the signed loan documents from the loan signing .
A new record keeping requirement at loan closings.
A Notary Signing Agent and a borrower have finished signing documents and all tha is left to
wrap-up the appointment is to check the documents for errors, but the NSA is already late for the
next appointment. What should the Signing Agent do next? ✔✔Call the Borrower for the next
appointment to let them know the expected arrival time, and then check the documents for error
before he/she leave.
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