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March 1, 2015

Point (5) HUD (6) Occupancy (7) Deeds; The Value Menu BACKUP checked

Filed under: Loan Signing 101 — Tags: — admin @ 12:00 am

I get paid enough to get something on the Value Menu

His name was Chester. He had been a Notary for years and he had seen it all. People liked hiring Chester, because he was on time, knowledgeable, and had quite a sense of humor. Unfortunately, a good sense of humor can be like a double edged sword. Not everyone will like your jokes. Chester was good at introducing the documents, and answering all questions.

CHESTER: Hi, my name is Chester. I’m going to be your Notary Signing Agent today. I am here to supervise the signing of these documents. If you have general questions about the documents, or what information is in which document, I am happy to answer. However, if you have specific questions pertaining to your loan, I will most likely refer those questions to your Lender.

ELLEN: Got it.


ELLEN: Hello? You want to speak to the man of the house? You must have the wrong number!

CHESTER: Let’s open the package here. Okay, this is the Deed of Trust. This document includes a property address, the amount of the loan, and ties your property as collateral for the loan. Additionally, it states the expiration date of the loan in 2045.

ELLEN: Right after the war of 2045. How convenient. I heard the war was going to end in June, and my loan expires right in July! Perfect! We’ll have two things to celibrate.

CHESTER: I didn’t know a war was scheduled.

ELLEN: Oh, that’s the new thing. Instead of going at it right away, people are so busy these days that they don’t have time for wars, unless they are scheduled at least twenty years in advance. I even have an app for that. It’s called — schedule my war. It has a D-day add-on too! Pretty cool. Looking forward to it.

CHESTER: And I thought that I was usually the funny one at signings. Now, this document is The Note. It has your payment amounts, if there is a prepayment penalty it will discuss that, and it has your Rate, and the amount of the loan.

ELLEN: My rate? My rate is by the word. Yeah. I charge by the word when I write material. But, my manager says that I should charge by the laugh. I get one rate for my initial time telling the jokes and then residuals. We do that at clubs too. Instead of a $30 cover charge, we have a laughometer strapped to each person. We charge them based on how many times they laughed and how hard they laughed. One guy had to Mortgage his house to pay his bill the last time I was on stage. Oh! Only 4.5% Cool! I won’t have to Mortgage my house to pay that. Did I say that? Oh — I AM Mortgaging my house and as a result will have to pay that. Got it!

Chester’s signing with Ellen went well. She would have appreciated his jokes if she hadn’t kept him laughing with her own jokes. But, Chester’s next signing didn’t work as well. The problem happened when he got to the HUD.

SAM: And who did you say you worked for again? You’re a subcontractor, right?

CHESTER: I subcontract for H&B Lending, over $40 billion served (lended)

SAM: I’m loving it! Don’t I deserve a break today?

CHESTER: Give ME a break, that ad is 40 years old! And this next document is the HUD. The HUD itemizes all of the expenses related to your loan.

SAM: Let me read that. Hmmm. On this line it says that the Notary fee is $250. How much of that do you get?

CHESTER: Oh, enough to get something on the value menu at McDonalds.

SAM: Okay, that’s not funny. Get out of my house! You damn Notary!


Point (5) The HUD Settlement Statement
This document is often faxed or emailed at the last minute as Lenders often do not have their act together and need to make last minute changes to documents. Without the HUD, the loan cannot close.

The Settlement Statement or HUD contains information about fees and payoffs. Here, you can check to see what the Notary fee is and compare that to what you are being paid. Do not discuss these numbers with the borrower because it is between them and the Lender, and they are both relying on you for confidentiality. If the borrower already paid an appraisal fee out of their pocket and they are being charged again, for example, have them talk it over with the Lender. Don’t try to answer whether or not they will be reimbursed for certain fees; just have them speak to the Lender. If the Lender is not available, let them know that they have several days to talk to the Lender while they have the right to rescission (the right to cancel). The above situation with appraisal fees happens frequently.

There are several other documents that are similar to the HUD such: as the “Estimated Closing Statement” and the “Good Faith Estimate”. These documents were often drafted earlier in the loan process and don’t always reflect final numbers.

Seasoned Notaries often know what piece of information is on each line of the HUD and have the structure of the document memorized.


Point (6) The Occupancy Affidavit

There are different variations to this document; sometimes it is called ‘Occupancy Affidavit and Financial Status’. The purpose of this document is for the borrower to state that they live in the subject property (which means the house they are borrowing money on). In addition, it asks the borrower to state that they haven’t had any sudden financial changes — for example, unemployment or bankruptcy. Keep your eyes open; if you don’t check which variation of the Occupancy Affidavit you are dealing with, you might make a fool of yourself (a fool and his money are soon parted.) This document is usually notarized.


Point (7) Grant & Quitclaim Deeds

There are four major reasons to have a Grant Deed.

(1) To transfer property in a sale of property

(2) To take someone’s name off of a deed so they won’t be liable for a loan when the other owners want to borrow money.

(3) To transfer the property to or from community property in a trust.

(4) To change someone’s name on the deed
The deed could transfer a property from “Jane F. Doe” to “Jane Doe”. This is very common for people with name variations because sometimes a loan can’t fund without the property being recorded as being owned by the owner with a particular name variation.


Quitclaim Deeds

Quitclaim Deeds are often used to take a person’s name off title. Here is some more information:

A Quitclaim Deed is a legal document which transfers a property to the buyer or owner, whatever interests in the property are held by the maker of the deed. A Quitclaim Deed does not guarantee that those interests are valid. By accepting such a deed, you accept the risk that someone may later appear with a valid claim to your property. A Grant Deed on the other hand guarantees from grantor to grantee that the title is clear. An example of a circumstance where a Quitclaim may be used is where one spouse is disclaiming any interest in property that the other spouse owns. Of the different types of deeds, the Quitclaim has the least assurance that the grantee receiving it will actually get any rights. A Quitclaim deed does not release the party quitting claim to real property from their obligations in any mortgage or other lien secured against the pertaining property.

A Quitclaim Deed is a common, but not standard document in a loan document package. Sometimes, ownership has to be transferred or someone needs to be taken off a Deed before a loan can officially go through. Quitclaim Deeds are always notarized using an Acknowledged signature and the signer must always be positively identified by the notary public for security purposes. Some states also require the notary to take fingerprints in their notary journal for Quitclaim and other deeds affecting real property.


You might also like:

HUD-1 Settlement Statement

I go over the HUD-1 First

The Affidavit of Occupancy

Notarized Grant Deed



February 28, 2015

Late Feb Signing Co. Gossip

Here are some more signing companies with gossip to read about.

Nation’s Direct
I quoted him $160, but he told me I had already agreed to do it for $115? Interesting post here!\
Someone had to reimburse the Lender? I’ve never heard of this before!

Convenient Closers
She insists she paid me twice for the job?

Professional Settlements Service
One notary says, “They treat you like it’s your first signing.” For many of their notaries, maybe it is!

Skye Closings
… disheatened to hear about their financial struggles. But, this company direct deposited to a notary which is great news!

National Loan Closers
I just replied to their automated low-ball offers…


You might also like:

If a pizza can get there in 30 minutes or less, why not a notary?

Notarizing female accessory to murder!

If you are a VIP notary, read this!


February 27, 2015

Notarization on the Steve Harvey Show

Filed under: Sit-Coms — Tags: — admin @ 6:31 am

STEVE: I have a surprise for you. Do you know why we invited you here today?

CAROL: I have no idea, honestly no idea.

STEVE: Well, I’ll give you a hint. Have you ever had anything notarized?

CAROL: No, I can’t think of anything that I’ve ever had notarized.

STEVE: Well think harder. Think fifteen years ago.

CAROL: Hmmm. I’m coming up with a blank.

STEVE: Well, you might not remember this notary, but he remembers you. And he has something of yours that you gave him when he last saw you back in 1994.

CAROL: 1994?

STEVE: Here he is!

CAROL: Oh my god, Oh my god! Randy. I remember you, but forgot that you were a Notary. And that’s the necklace I gave you. I remember it all now!

STEVE: Well, brace yourself. You better sit down. Because Randy has something that he wants to ask you!

CAROL: Oh my god. I can’t believe this is happening. Yes Randy. What did you want to ask me.

RANDY: Carol, I met you almost twenty years ago, and I have never forgotten you. You have been on my mind ever since. I realized that when we talked, back in 1994 the conversation was so meaningful. But, there’s one thing that has been on my mind that I have been needing to ask you ever since.

CAROL: One thing? Sure, ask anything you want. I just am not prepared for what you might ask.

RANDY: Carol… will you…ummm… how can I put this. Remember the notarization I did for you back in 1994. My journal said that it was for an Affidavit of Occupancy.

CAROL. Oh yeah, now I remember. That was to lock in a particular interest rate on that house.

RANDY: Well, we got so wrapped up in conversation that I forgot to ask you one thing. Carol, will you… um… will you complete the Oath that I forgot to ask you for that Affidavit of Occupancy? I kept a copy of that document all these years with the necklace you gave me.

CAROL: Oh my god, you still have that?

RANDY: Please raise your right hand. Do you solemnly swear that the information in this Affidavit of Occupancy are true and correct and that you agree to the conditions in the document?

CAROL: I do.

RANDY: I’m so relieved. Because, in my notary career, I never violated notary law, not even once. But, I realized that failing to administer an Oath for a Jurat on an Affidavit is grounds for suspension, termination, or revocation of your notary license. I’m so glad that I administered that Oath, and got it out of my system.

CAROL: You came all the way to have me on TV, just for that?

RANDY: Oh, and one more thing.


RANDY: Carol…. will you marry me?

CAROL: Oh my god! Yes I will, well, at least we can start dating. But, on one condition.

STEVE: The sister has conditions? I gotta hear this!

RANDY: Sure, that’s fine

CAROL: I will need a notary statement stating that you want to date me and that you will take me out for penne arrabiata at Carmino’s Italian Restaurant.

RANDY: That’s a little odd. Would you like the notarization to be a Jurat, Acknowledged signature, Protest, or an Oath.

CAROL: I’d prefer a Jurat with an accompanying Oath. And yes, I’ll keep a copy of that document to show you in 2034!

STEVE: This is amazing. I’ve never seen anything like this in my career. Just one question for Randy.

RANDY: Ask away!

STEVE: Randy, I’ve never been notarized, ever. I just want to know what it is like being notarized, just to get it out of my system. Can you notarize me?

RANDY: On camera? The camera adds 10 pounds to any signature you know.

STEVE: That’s okay. So, what’s the first step.

RANDY: I’ll need to see some ID sir!

STEVE: What, you don’t know me? I’m Steve Harvey — I’m famous. You don’t need to ID ME!

RANDY: Well, actually it is a legal requirement here.

STEVE: Oh allright. I was just playing with you. Here’s my ID. Which one you want. I got five of them.

RANDY: Your driver’s license will work.

STEVE: Allright, now what do I gotta do. Do you want me to sign something?

RANDY: If you don’t have a document, you could have something typed up.

STEVE: Well what do you want it to say?

RANDY: It can say anything you want just as long as you sign it.

STEVE: Hmmm, I’m gonna have to think about that. (he looks to the left, looks up, and looks around) I thought about it and I know what I want to say now.

RANDY: What is it?

STEVE: I wanna say, I’m Steve Harvey, and I’m smooth like butter.

RANDY: We can do that. Just sign the journal here. (staff hands him the typed up paper) Sign the document here. I’ll attach an Acknowledgment certificate, stamp it… we’re done!

STEVE: That’s it? That was easy. I didn’t feel a thing.

RANDY: It’s a fairly standard act.

STEVE: Well, I want to wish you and Carol the best of luck on your first date. In fact, we are going to pay the first $200 of your date’s expenses for dinner for two at Maggiano’s in Los Angeles. That is the fanciest, most amazing Italian restaurant anywhere in California. I love that place! Then, get this — are you ready? You can have another $200 for your next date and a gift certificate for two to see a 3d movie or movie of your choice at IMAX in Universal Studios.

CAROL: Wow Steve. This is the best day of my life. I never expected any of this.

RANDY: Thanks Steve. I don’t know how to thank you.

STEVE: Well, you can thank me with a notarized statement if you really want to know how to get to the bottom of my heart!


February 26, 2015

Imitating a male voice behind closed doors at a refinance

Filed under: General Stories — Tags: — admin @ 7:56 am

I once had an unbelievable situation with a signing. I walked up to the house, rang the bell, and a woman showed me to the kitchen table. I needed a signature from her and her husband for a refinance. She said that her husband was sick in bed and couldn’t come to the table so I said, why don’t I come into the bedroom and get his signature, and she said, oh no, he’s not feeling well, and no I shouldn’t do that. So she goes behind the door and pretends to talk to him. I could hear her “talking” and her attempting to imitate a male voice from behind the door. Really ridiculous. I told her she couldn’t do that and that I had to meet her husband, and she wouldn’t let me meet him. I peeked in the bedroom and saw that the bed was plumped up with pillows to look like someone was there so I ended the signing and walked out the door. It was the biggest case of dishonesty I had ever seen in my life.


February 24, 2015

Why Notarize?

Filed under: Ken Edelstein,Technical & Legal — Tags: , — admin @ 8:09 am

Why Notarize?
There is no denying that notarization can be inconvenient. Of course you can easily search by zip code to find a nearby mobile notary on that will go to you. But, even if the process is very convenient; the question remains why bother?

Although some “shorty” notary sections contain only “sworn to before me”; one that meets the complete guidelines of the various states contains much more information. Some contracts or documents may be quite legal in one state but prohibited in a different state. A proper notarization contains a Venue that states where the notarization took place. The venue always represents where the oath was given and notary signature was affixed. It has nothing to do with the content of the document; and, at times, may not reflect where you signed the document.

Almost all notary sections contain the date the document was notarized. Consider a hand written IOU that says the payment is due in 90 days, but does not mention the start date. The notary section’s date is always the date that the notary signed. Attorneys may argue many details, but the notarization date is the date that the parties were given the oath. Lacking any other date, the notarization date would usually be considered the effective date of the document.
Squiggle, squiggle; handwriting is often unreadable. A great notary section will mention by name the person(s) who were notarized, generally in clearly printed block letters. Care must be taken by the notary, when there are several affiants; to mention only those that were given the oath.

Speaking of oath, many do not realize that a sworn statement before a notary carries exactly the same legal standing as testimony in a court of law. The Bailiff “swears in” the witness, exactly the same as the notary oath. False statements on notarized documents are equivalent to lies in the witness stand – the crime of perjury. Take notarized documents seriously!

Back to Why have a signature notarized. In addition to recording in a uniform format the above information; the notary determines the identity of the affiant. Not to an absolute certainty, but by inspecting “government issued photo ID”. A good forgery can fool anyone who is not an expert at examining the specific ID. However, notaries inspect IDs closely, and if there is any evidence of tampering – they will reject the ID. It is the chief duty of the notary to inspect and approve the ID presented and record that acceptance by placing a notary seal and signature on the document.

The “humble notary” is actually a sworn officer (we take an oath to follow the notary laws) of the (in New York) Department of State. As a commissioned officer, we have the legal right, and often the legal obligation, to confirm the identity of the person signing the document. Being impartial, our stamp and signature are accepted as substantiation that the named person did indeed sign.

Information is gathered and recorded, IDs are checked and the notary signs and stamps. Notarization does not make a document valid, legal, binding, or truthful. Those aspects of the document are generally issues for litigation. A notarized false statement remains exactly that, the notarization does not have any relationship to the contents of the document. It does allow the document to be entered in evidence in a court. It makes forgery more difficult, but not impossible. Though not always required, it’s unlikely an unnecessary notarization will void a document.


February 23, 2015

Marketing excesses and defenses

Filed under: Ken Edelstein,Marketing Articles — Tags: — admin @ 3:12 am

We are assaulted by marketing in every way possible. They attack all of our sensory inputs. We see commercials endlessly on television. Signs and billboards blink, wink and cross fade to grab our attention. Everything we buy seems to have a prominent brand logo. People walk around with alligators on their T shirts, and trendy patterns on handbags. The visual marketing is relentless. In addition to the proliferation of junk mail in the mailbox, our email spam “junk mail” requires proactive filters to stem the tide; lest our email become totally useless. Those cute free apps use our email address to generate information on our likes, to be sold to generate even more spam.

Our ears are also assaulted by overly loud “pitchmen” selling everything from cars to the latest wonder drug that cures afflictions that we did not know existed. Enter a NYC taxi, it’s not easy to figure out how to mute the built in TV; spewing more marketing. Call for support, the hotline for a malfunctioning product and service; the robotic front end starts with informing you of great new opportunities to buy more. Great care is taken by malls, stores and virtually all establishments to have background “music” that is supposed to “make you want to buy buy buy”. A box of disposable ear plugs is a good investment; especially in the ultra noisy NYC screeching subway system.

Nor is the nose immune from the marketing onslaught. Smell something good? That’s because the cooking smoke is directed to the passing public. Aromatherapy on steroids. In Manhattan even the sidewalk I walk on is illuminated with changing images projected from shops, in addition to their scrolling signs. Overhead, blimps and skywriting biplanes pollute the very sky with ads.

If you stuck with me thru my lengthy introduction to the problem; now it’s time for the good part of this blog entry. There most definitely are defenses you can take to avoid the various forms of attack. I rarely watch “live TV”, preferring to record on a Tivo and fast forward thru the maze of almost endless commercials. It also saves time as the hour show is really 45 minutes. Stuck with live TV? Make sure you have the mute button handy. Universal tiny mute buttons are on Ebay for 2-3 dollars, everyone needs their own. Once muted do not watch. Make it a “point of honor” to have no idea whatsoever whose ad was shown – total avoidance.

We all want to “market” our notary services and be “memorable”. Many of us use small “premiums”, little gifts to our clients. The classic is the pencil with the name and number of the provider. Some premiums are both more useful and more expensive. The common thread is often the emblazing of the givers advertising. “If you want to use this you will have to look at my ad” is the message received. Is that what you want to be telling your clients? I choose to not have any advertising on the premium distributed to my clients. They already received my name and phone numbers on a business card; with a useful street guide to Manhattan on the back.

I have very often received the comment “this does not have your advertising on it, how come”. I reply that the item was chosen to be a reflection of me. Useful, understated, and definitely not “in your face” pushy. Most get a good laugh out of that! When you give a premium with your ad on it you are not really giving a true gift. It’s more of an invitation to carry your message. If you are going to give a gift make it one with no strings (advertisement) attached. They will appreciate the clean and uncluttered look of the item, whatever it is. The impression you make and the card you leave behind is sufficient. Don’t market to excess to your clients.


February 22, 2015

Point (3) RTC (4) TIL; Story: The Starbucks Signing

Filed under: Loan Signing 101 — Tags: — admin @ 10:05 pm

The Starbucks Signing
Marcy hadn’t completed her certification test yet. After all, why should she. A little test couldn’t be that important, right? But, she was anxious to get started. She completed her notes section on her 123notary profile. She wrote:

I am reliable, prompt, punctual and professional. Call me for any mobile notary job!

She got her first call a few days after signing up. She answered the phone as her infant was screaming. The screaming was so loud that the person on the other end of the line couldn’t hear what she was talking about. The client decided that Marcy wasn’t very professional.

Then, another call came in. She answered it and got the job. She was to notarize a Grant Deed. She had never seen a Grant Deed, but how hard could it be to notarize. She knew how to fill in an Acknowledgment form. Her baby started screaming right when she was leaving. She left the baby with her husband and went out to do her job. She arrived 20 minutes late as a result of her baby having a fit. The customer said, “Your profile claims that you are punctual, but you are 20 minutes late!” Marcy said, “But, I am punctual, it was just this one time!”

Then a third call came in. They needed a loan signing done. Their house was under repair, so they agreed to meet at a local Starbucks. Marcy’s husband wasn’t around, so she decided to take her baby with her. Luckily for her, the signers loved children, particularly infants. The signing started off okay. Marcy had received a FedEx package of the documents. Everything was in order. She put the documents on the table, and kept the borrower copies in the FedEx. She didn’t know how to introduce the documents because she had never studied loan signing. Her course book was sitting on her desk collecting dust. She would soon learn that book knowledge would help her out of a very serious bind that was about to happen. Ooops!

The couple was signing away, when the toddler spilled Marcy’s mocha all over the Right to Cancel. All Marcy could say was, “I’m so sorry, I’m so sorry.” Marcy decided she had the Right to Cancel and obligation to cancel the appointment and have them start all over another day with another notary. She went home feeling mortified and devastated. But, she didn’t have to. Marcy made several simple mistakes. What were they?

(1) No drinks on the table. Drinks spill all the time. If you have drinks on the same table as documents, you are going to have a problem, it is just a matter of time. Drinks go on a separate table or a chair as a matter of policy. If Marcy had obeyed this signing policy, she would not have gotten in trouble.

(2) Don’t bring your three year old to a signing no matter what. It is not reliable or professional to do so, not to mention the trouble they could cause.

(3) The Right to Cancel was damaged, but there was a borrower’s copy of that document in the FedEx which Marcy could have used to substitute for the damaged one. An easy fix to a common problem. It is also common that borrowers sign in the wrong place on the Right to Cancel. You need to swap that document out if that happens as well.


Point (3) The Right to Cancel

The Right to Cancel (Right to Rescission) gives the borrower in a non-commercial / non-investment refinance three calendar days not including Sundays or Federal holidays to read over the documents and consider their options. If borrowers want to spend three hours reading every page of the document, the Notary is encouraged to inform them that this is a signing appointment, and that they can review their borrower copies over the next three days and cancel within that time period if they have any dissatisfaction with the documents.

Dating: (Chaperone Not Included)
In addition to having the borrowers sign this document, it is often the Notary’s responsibility to make sure it is dated correctly. On the top of the document there should be a section that reads: “The date of the transaction, which is ____________________”. This is where the Signing Agent places the current date; this is known as the “transaction date”. Towards the bottom of the document it states: “no later than midnight of________.” This date is called the “rescission date”, and it states when the Right to Cancel period is finished. In this blank you would write the last day for the borrower to cancel, which is three days past the current date (excluding Sunday and major holidays). If it is Saturday the 20th, and Monday is a holiday, the last day to cancel would be Thursday the 25th.

What if the lender dated the document incorrectly? Cross out the incorrect date, write the new date, and have the borrower(s) initial the change. Never use white-out.

What if the transaction date is correct, but the lender is giving them too many days to cancel? Sometimes lenders are generous and give one or two extra days. Don’t correct that because it’s not an error; it is an act of generosity.

If the borrower carelessly signs where it says, “I wish to cancel”, the best way to remedy this situation is by using the borrower’s copy of the document (by the way, this question is on the exam); doing this will save everyone a great deal of trouble. If that is not possible, cross out the signature and have the borrower initial it. Then have them sign in the correct location.

Cancellation by Fax. The borrower always may cancel their loan by fax with all lenders by law within the (3) day right to cancel period.

Here is a list of all Federal holidays:

New Year’s Day
Martin Luther King Day
Washington’s birthday AKA and observed on Presidents day
Memorial Day
Independence Day
Labor Day
Columbus Day
Veteran’s Day
Thanksgiving Day ( the Friday after is a regular day unless the lender states otherwise )
Christmas Day


Point (4) The Truth in Lending

This document is important because it contains the APR, the amount financed, and the total of all the interest payments over the life of the loan. Information about which payments are made on what dates and at what amount is also included in the Truth in Lending.

The APR. There are dozens of ways to define the APR. We will have a detailed chapter about it later in this course. Here is the most thorough and easy to understand definition that we could come up with:

The APR is the annual percentage relationship between the payments and the amount borrowed, minus the fees. This rate is often used to compare the different loans borrowers have to choose from. The APR is almost always higher than the rate. The rate, on the other hand, is a monthly percentage relationship between the payments and the total amount borrowed, including fees.


You might also like:

The Right to Cancel done Wrong!

Notary information for beginners: Best Posts

How do you explain the APR to a non-borrowing spouse?



February 22, 2015

Point (2) The Note; Story: Background Noise

Filed under: Loan Signing 101 — Tags: , — admin @ 6:14 am

Marcy, The Baby, and the FHA Signing

Marcy was a little big traumatized after her last signing, but she wouldn’t be able to face her neighbor Patricia if she quit now. So, she decided to just do it. She waited patiently by the phone as she watched her toddler. Her husband often worked nights, so she was all by herself with the exception of her screaming child.

And then the phone rang. It was Nicole from Hawaii Title. They needed a loan signed that night and couldn’t find anyone.

NICOLE: Hi, this is Nicole from Hawaii Title.

MARCY: Aloha. (child screaming in the background, radio playing loudly too)

NICOLE: I hope that’s not a dissatisfied customer.

MARCY: No, he’s a little cranky tonight. I just told him a bedtime story called Snow White and the Seven Lenders. Don’t get me started on Grumpy.

NICOLE: Oh, is this the one with the wicked Escrow officer who gives her a poisoned prepayment penalty?

MARCY: No, that part was too scary.

NICOLE: Well, we have an FHA loan we need…

TODDLER: Wahhhhh! Wahhhh!

NICOLE: Is something wrong?

MARCY: Oh, well Chuckie doesn’t like the word FHA. You see, in the story, the evil Escrow Officer did mostly FHA loans.

TODDLER: Wahhhh! Wahhh!

NICOLE: Okay. No problem, I’ll call it a Federal HA loan. I know it can’t be easy raising a young child. But, it’s not easy for callers to endure any type of distractions. I noticed that not only is your toddler screaming, but there is also a radio playing in the background. Putting aside how difficult to hear you over this noise, it is also considered very unprofessional to have any type of background noise on a professional call. I’m sorry to give you a lecture on this, but I think you sound serious about this business and you need to know. Many companies just won’t hire you if they sense any unprofessional behavior on your part be it oral communication, if your notes section has spelling mistakes on 123notary, or mistakes on loan documents.

MARCY: Oh, I had no idea. But, that makes sense, now that you tell me. I’m just so used to Chuckie, that I don’t realize that other people might not be so immune to his antics. I’ll put the baby in the other room. And my husband will be back soon, so I can go out to do a signing the minute he returns.

NICOLE: Okay. Just keep in mind that FHA… oops, I meant to say Federal HA loans, take considerably longer to sign than straight Refinances. But, I will be on the other end of the line the whole time in case you have questions. And we require fax backs.

MARCY: Okay, 123notary told me that companies that require fax backs do so to ensure that the loan is correctly signed when a beginner is working for them. This makes sense as I am a beginner — a very enthusiastic beginner. So, I won’t complain about fax backs like the other notaries!

NICOLE: That’s what I like to hear.

MARCY: Bring it on!!!! I’m ready for your FHA

NICOLE: Wahhhh… Just kidding.


Point (2) The Note
The Note (also called ‘the agreement’ by some companies) is the basic contract between the borrower and the Lender; it includes the basic terms, conditions, and information about the loan being signed.

The Note includes:

(1) The Rate

(2) The Prepayment Terms (these are usually explained in two paragraphs on the first or second page)

(3) The Payment Amount of Principal and Interest (this doesn’t include taxes and insurance).

(4) The day that monthly payments are due.

(5) Penalties for late payment

(6) The amount of the loan

The Note also specifies that it is secured by a ‘security instrument.’ (This will be discussed in the next section, specifies where to make payments to — many other kinds of information are also in the note. It is simplest to understand the note as merely a list of agreements, as previously mentioned. Adjustable Rate Notes. This document is a note with information about what the adjustable rate is based on and how it can fluctuate.

Please note that the best place to look for information about the prepayment terms are in the Note or a Prepayment Rider if there is one, and NOT on other documents as other documents do not have thorough information about this topic. Please also note that The Note is not normally a notarized document.


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The Mortgage & The Note

How do you put the borrowers at ease?



February 21, 2015

Mid Feb Signing Co Gossip

Filed under: Signing Company Gossip — Tags: — admin @ 8:40 am

Here are some more signing companies with gossip to read about.

Notary On Call
Professional and paid a fair fee. You guys need to sign up with this company!

National Preferred Notary
The pay period ended, so the notary would have to wait until (date) to get paid!

Land and Law group
Ken asks why the notaries are “playing banker” and extending credit.

Notary Express
The loan didn’t close through no fault of mine…

Real Estate Services
Nothing but good interactions and prompt pay says the notary!

Loan Processing Center
The job was assigned 3 days before the signing. I kept checking every day for the docs which didn’t arrive until 30 minutes before the signing!


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She was dying of cancer and needed to be notarized

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February 20, 2015

A trashy signing!

Filed under: General Stories — Tags: — admin @ 7:48 am

These two snippits are stories from one of our notaries.

I had a signing where the couple were remodeling their house and were too embarrassed to let me in so we did the signing on top of a trash can/recycling bin.I thought the whole thing was funny – too embarrassed to let me in the house but not embarrassed to do the signing on a trash can!

I also had a signing where I entered the house and the entire time during the signing, the couple’s dog just sat there growling at me as we sat at the table. He wouldn’t stop and the owners did nothing until I asked them to please remove the dog.

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