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January 28, 2016

I’d rather stop being a Notary than carry a gun

Notaries have very conflicting attitudes about carrying guns. Some are violently against it, while others just see guns as a fact of life. For people growing up in Haiti or Israel, there are people with machine guns everywhere. It is just a fact of life. But for Americans, guns are not so common unless you are a gangster, or drive a pick up truck in a red state. So, how can Notaries defend themselves?

(1) Some Notaries let their husband know where they will be and to call the police if they don’t hear back from them by a particular time.

(2) Other Notaries carry pepper spray. Pepper spray is nice because you don’t do any real harm to the victim. It is not expensive, and not difficult to use. Additionally, you can use it on dogs. In my experience, dogs are more of a realistic threat to Notaries (and mailmen) than humans

(3) Some Notaries always place themselves between the signer and the door so they can run if the going gets rough. You would be surprised how much anger the APR can cause!

(4) At 123notary, we recommend getting advanced training in Okinawan Japanese style Notary-jitsu. Notary-jitsu teaches you how to defend yourselves from the tactics of violent borrowers. You learn to protect yourself from knife attacks, beatings, and small dogs that say “yap.” Yes, this all-inclusive training could save not only your life, but your dignity.

(5) Having a gun. Guns are dangerous. If you use a gun, you will end up in court, and possibly in jail. I am not convinced that having a gun is a good idea, however, in dangerous areas, you might not have a choice. Even in “safe” areas, you could encounter trouble at any time. There are many psycho people out there. They don’t come out all at once — only when you are not expecting it. For some reason, our local taco place has the nicest employees, but the freakiest customers. I have had to call the police once, and on another occassion a woman was beaten so that the thief could steal her mobile phone and then casually walk away — not run, but walk away.

A gun could save your life in an emergency, but pulling a gun could also get you shot. If you can’t pull your gun in time, the gun won’t save you either. Or if someone has you at gunpoint, it is too late to draw. It is up to you to figure out what to do.

(6) Bringing a large flashlight
I used to have a huge flashlight with me when I was doing pizza delivery back in the day. Military flashlights are the only method for being able to read the numbers on someone’s house. They can also be used as a weapon. I used such a weapon to kill once. Don’t get your hopes up, the victim was a rat, not a human. The rat had invaded my bedroom and jumped into bed with me and then ran away. I cornered it and herioically bludgeoned it with a bash to its head. It was all over in a second. He/she felt no pain.

(7) If you were Crocodile Dundee you would bring a huge knife to the signing table. If the signer offered you an apple and was cutting it with a knife, you could say, “That’s not a knife — THIS is a knife!”

It is up to you what types of weapons you use. In my opinion, all women should know some type of self defence. If someone has you from behind, you should know how to stamp on their food and elbow them. You never know when trouble will come, but you should be ready.

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You might also like:

Some folks feel more comfortable having a strange female at their house than a man.
http://blog.123notary.com/?p=22243

Compilation of mafia related notary posts
http://blog.123notary.com/?p=20352

Psych: busting the Russian Mafia with help of a Notary
http://blog.123notary.com/?p=19963

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January 4, 2016

I just got two jobs & they said they found me on 123notary, what now?

Be all that you can be!
Congratulations and thanks for enlisting! I am so happy when newcomers get lots of work from our directory. We work night and day to make our notary directory great! But, what now? The answer is that listings need to be all that they can be. It’s just like the army without the bullets. But, we have basic training.

Inspect your listing. There are several things you need to do before you clean your gun or your stamp.

1. Ask for help with your notes section.
We can’t write it for you, but if you write something, we can critique it. A good notes section with specifics and some unique information about you will really draw people in.

2. Pass our certification test.
People who pass our test not only get more work, but get slightly more compensation per signing and have more opportunities to move up the list on 123notary.com. You will need to study, but the knowledge you gain you keep for the rest of your life!

3. Get a few reviews
We value reviews so much that we call hundreds of people per month to remind them of how important it is to get reviews from strangers. On any site that has reviews such as Yelp, Travelocity, etc., the people with the most reviews get the most work, so start asking for reviews and ask us for help if you encounter any trouble.

4. Move up in the ranks
After you have passed our signingagent test and have two reviews, it is time to upgrade and join the big leagues or as we call it, “Special Forces.” At least try to get a promotion so you can pull rank on someone.

5. Stay out of trouble
No notary lasts forever. But, we have had many last for more than a decade on our site. Ken got promoted to General as he writes great blog articles and is a source of knowledge and inspiration. However, a few others had a dishonorable discharge. You still need to login to your listing every 120 days, otherwise you could get in a little trouble with us. Maintain your listing regularly, shine your boots (or shoes) and see if you take your seal apart and put it back together in less than 85 seconds.

6. PTSD
One Notary got PTSD from having borrowers yell at him too much about the APR. It is better to call the borrower up and go over the major figures before going into combat. And as always — ask for backup if you need any!

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Getting the best notary jobs
http://blog.123notary.com/?p=9273

The art of the decline to new jobs
http://blog.123notary.com/?p=15783

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January 1, 2016

Notary aptitude test

Have you ever had your aptitude tested as a Notary? Other than the various certification tests? Well, maybe it’s about time that you did! But, what types of questions would be asked? Maybe it would be like the NSAT. The Notary SAT’s.

(1) Stamp is to Fraud as Pen is to:
(a) omission (b) signature (c) backdating (d) ink

(2) Name on document is to Name on ID as Name on signature is to:
(a) Name on AKA statement (b) Name on occupancy statement (c) Fees on the HUD (d) Name on Notary Seal

(3) Date of Rescision is to Signature Date as New Year’s Eve is to:
(a) A really bad hangover (b) A party that was “rescinded” early (c) Midnight of the 4th (d) The 3rd (e) Confession where the borrower says, “Forgive me Father, for I have rescinded.”

(4) The Signature date is to the Rescission Date what Backdating is to:
(a) The Document Date (b) The Transaction Date (c) the day before the Signature Date (d) The eDocument Date

(5) Notary is to Signing Agent what Mortgage Broker is to:
(a) Escrow Agent (b) Title Agent (c) Settlement Agent (d) A really good Mortgage Broker who actually knows what he/she is doing

(6) A Notary who doesn’t cross out the he/she/they is to Mortgage Broker as a Mortgage broker who:
(a) Is always late (b) Rips off his borrowers (c) Doesn’t explain the terms of the loan or why the APR is so high to the borrowers (d) Multitasks as an Escrow agent.

Hope you enjoyed this little test. It was fun to write.

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You know you’re a notary when
http://blog.123notary.com/?p=16038

30 point quiz: Jeopardy
http://blog.123notary.com/?p=14557

How good is your technical knowledge, should you learn more?
http://blog.123notary.com/?p=16683

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October 3, 2015

Oct Best Signing Company Gossip

Filed under: Popular Signing Co. Lists,Signing Company Gossip — Tags: , — admin @ 1:05 am

Here is some of the best signing company gossip that we’ve had for the last half year.

Locate Notary
A Notary registered with Locate Notary. She had responded to an email from them about a Notary assignment. The company sent an email promising to send them the necessary information within an hour. However, the information never came. Then the Notary asked to be removed from their list. Nothing happened. The fee was $150, so she didn’t want to give up the assignment…
http://www.123notary.com/forum/topic.asp?TOPIC_ID=4915

Sunshine Connection
The notary claimed this company had a “new” method of payment. But, there were four jobs that were not paid for. The checks had allegedly been sent. However, the checks were in the email attachment which the Notary never checked as he was checking snail mail. Bizarre!
http://www.123notary.com/forum/topic.asp?TOPIC_ID=6994

US Notary Service
One notary claims they have many stories for non-payment.
#1 Wrong paypal address
#2 They had an alleged paypal receipt
#3 Claims they mailed the check. Notary called back in a week. They claim they are sending it.
http://www.123notary.com/forum/topic.asp?TOPIC_ID=5678
http://www.123notary.com/forum/topic.asp?TOPIC_ID=5562

SnapDocs
You can’t download the documents unless you agree to the terms of the particular signing service. But, what if you don’t agree with the terms?
http://www.123notary.com/forum/topic.asp?TOPIC_ID=6962

Bankserve
A Notary was accused of using the wrong documents at the signing. But, the Notary did not send themselves the documents. The documents were sent to them. Unless there were two versions of the same documents. Hmmm.
http://www.123notary.com/forum/topic.asp?TOPIC_ID=4302

Premiere Notary Service
Scroll down to April 11th. This company offered a Notary additional work when an outstanding invoice that was 60 days late had still not been paid! Amazing!
http://www.123notary.com/forum/topic.asp?TOPIC_ID=5739

Timios Title
Timios is one of the all-time favorite Title Companies out there. But, a few Notaries claim that they used to love Timios more before the mass emailing system and the lower price jobs started happening!
http://www.123notary.com/forum/topic.asp?TOPIC_ID=4907

Signature Closers – OH
Payment is always direct deposited on the 5th, even if the job done was the last day of the previous month!
http://www.123notary.com/forum/topic.asp?TOPIC_ID=4901

Meymax Title
The loan officer upset the borrowers and the Notary was blamed! The borrowers were angry that the LO didn’t give them all of the pertinent information. Additionally, there was a written agreement for a $50 cancellation fee.
http://www.123notary.com/forum/topic.asp?TOPIC_ID=6950

Title Source
One Notary loves the weekly deposit system Title Source is using. It is just like a pay check just as long as you don’t make mistakes. This Notary claims Title Source is their bread and butter.
http://www.123notary.com/forum/topic.asp?TOPIC_ID=6035

Find out how a job involving 275 pages. The notary accepted, then declined the job. Then a happy salesman called the Notary and tried to sweet talk him. Did the notary mistake them for another company?
http://www.123notary.com/forum/topic.asp?TOPIC_ID=7033

Premier Notary Service
One Notary says this company resolves issues fast. Jeremy was polite and conscientious and took care of everything. Not the same Jeremy as me though. I take at least 48 hours to resolve anything!
http://www.123notary.com/forum/topic.asp?TOPIC_ID=7040

Mortgage Connect LP
One Notary want to blackball this company and get them shut down. This Notary wants to network with other Notaries at the annual conference to find a way to force Title companies to pay up. Do you think he/she will succeed?
http://www.123notary.com/forum/topic.asp?TOPIC_ID=3430

FASS
One notary is upset that this company calls in orders that are too far away. Then, the Notary claims that docs are always late and that $75 is not enough. Boy oh boy!
http://www.123notary.com/forum/topic.asp?TOPIC_ID=2829

Notary on the Run
The accountant is only there twice a month, but the invoice was 90 days old.
http://www.123notary.com/forum/topic.asp?TOPIC_ID=5681

Speedy Closings
The Notary was to get $40 for printing and travel. Now, the Notary wants to go to small claims court to collect.
http://www.123notary.com/forum/topic.asp?TOPIC_ID=2345

Skysail Group
Their website keeps track of all your signings online and you can access it by mobile phone!
http://www.123notary.com/forum/topic.asp?TOPIC_ID=6058

Nations Direct
The check was sent to AR, not AZ. This Notary used to like Nations Direct, but they started paying her more — and that’s when the punctuality of the payments became an issue.
http://www.123notary.com/forum/topic.asp?TOPIC_ID=2436

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June 23, 2015

Loan Signing FAQ’s That Borrowers Ask

Many notaries go to the signing table unaware that there are many frequently asked questions that they might not know how to answer. I’m going to list a few here, but our list might expand as time rolls on. Feel free to contribute some FAQ’s of your own that you came accross.

(1) Why is my APR higher than my Rate?

(2) Do I have a prepayment penalty and where can I find that information?

(3) Where are my settlement fees and the costs of the loan documented?

(4) When is my first payment due?

(5) Can I cancel my loan? How many days do I have? How do I cancel my loan?

(6) Do I sign my name with my middle initial?

(7) Why do I have to sign my name this way?

(8) Do you know how to reach my lender now? I don’t have his number in front of me.

(9) Am I in a flood zone?

(10) Do I have mortgage insurance?

(11) If I am a spouse, which documents should I sign? I thought I was on the loan.

(12) Does this property need to be my primary residence?

(13) Can I lease this property out to others during the Mortgage?

(14) What is the penalty if I am late on any of my payments?

(15) Why is my information wrong on the 1003?

(16) How come the information is different on the Good Faith Estimate and the Settlement Statement?

(17) How much can my rate go up if interest rates for up for my Adjustable Rate Loan.

(18) When my Adjustable Rate Loan graduates, will it still have a cap, but not a gown? (sorry for the bad humor)

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You might also like:

Acknowledgment FAQ
http://blog.123notary.com/?p=21331

Certain things you don’t learn from experience
http://blog.123notary.com/?p=22572

Do you take control at a signing
http://blog.123notary.com/?p=21104

How much pay do you merit as a signing agent?
http://blog.123notary.com/?p=19188

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June 20, 2015

Un-TIL they make the change! — CFPB’s New Mortgage Disclosure Rule

Filed under: Technical & Legal — Tags: , , , — admin @ 10:22 am

Know Before You Owe!
“The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 1, 2015.”
You can owe without knowing for the time being!

Currently, loan document packages include a Truth in Lending and often a Good Faith Estimate. The problem is that these documents are confusing. The Good Faith Estimate, TIL and HUD-1 have overlapping information and it is often hard to know which document has the final information unless you are a seasoned Notary.

The New Document will be Called “The Loan Estimate.”
This document will cover the loan amount, interest rate, monthly principal & interest, prepayment penalty info, balloon payment info, estimated monthly payments, tax, insurance, closing costs, and more.
http://files.consumerfinance.gov/f/201311_cfpb_kbyo_loan-estimate.pdf

The APR Revisited
In addition to starting the APR on page three, there will be yet another figure to make Notaries crazy called the TIP which is the Total Interest Percentage which reflects the total amount of interest you will pay over the life of the loan as a percentage of the loan amount.

Other Considerations
Late payment fees, servicing, assumption, and appraisal costs will also be covered in this new and exciting document.

Is Change Good?
Honestly, this new document is somewhat of a combination of the HUD-1 and the TIL with some elaborations and improvements. I believe it is not necessary to create a new name for a document. In my opinion, this information would be better off added to existing documents so that Notaries and borrowers don’t get any more confused than they already are.

What Do Notaries Think?
Deb on LinkedIn feels that this new document will make life simpler.
Wendell on LinkedIn feels that the new forms are not any more complicated than the forms they replace.
Linda on LinkedIn feels the new forms will help Notaries as borrowers will have the chance to look the form over and learn the facts before the signing.
Kelly states that there will be a complete process change for loans in the industry and it will be more than just one new form.
https://www.linkedin.com/grp/post/4139192-6014441719272067073?trk=groups-post-b-all-cmnts

You might also like:

Technical Points for Notaries
http://blog.123notary.com/?p=14492

TRID information courtesy of Carmen
http://blog.123notary.com/?p=18932

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June 19, 2015

How much more does a 123notary certified signer make?

How much more does a 123notary certified signer make compared to a 123notary uncertified signer? The answer is roughly $8 per signing average. I hear a bunch of “buts” in the background. “But, I’m NNA certified, so I’m already certified.” Yes, but you will make more money if you have the knowledge and the show that only 123notary certification offers you. Our numbers are the proof. Not only do 123notary certified notaries get more than double the new incoming calls from our site than 123notary uncertified notaries in comparable spots, but they get paid roughly 8% more as well!

I did a poll of the notaries on our newsletter. I asked what their average signing yielded them. The answers were not always very precise and some round-about. However, I was able to crunch some numbers.

Crunching the Numbers
I crunched figures from the first 22 uncertified notaries who responded.
I crunched averages for the first 20 certified (by 123notary) notaries who responded.
I crunched numbers for 10 Elite certified notaries who responded or who I had talked to previously about fees.
I wasn’t sure what to expect, but then who is.
My results are based on limited information, but enough to get a rough idea.

Average Results
The average Elite certified notary polled claimed they averaged $116 per signing
The average 123notary certified Notary polled claimed they made an average of $110 per signing.
While the average 123notary un-certified Notary polled made an average $102 per signing.

My Surprise
I was surprised that the 123 uncertified Notaries did so well. Most of them lack even the most basic of signing agent education. Most of them don’t know where to find the prepayment penalty or how to explain the APR intelligently let alone understanding the other documents. I am amazed they get paid so much!

$8 Extra per Signing Adds Up to Almost $30,000 in a Decade!
Many Notaries think that they don’t “need” our certification. However, Notaries who pass our certification test know approximately double what those who can’t or didn’t pass our certification test know. Additionally, Notaries who pass our test get double the new calls from our site, although our certification will not help you on other sites. Moreover, Notaries who pass our test get $8 extra per signing. If you do 30 signings per month for 10 years, you will make $28,800 extra as a result of having passed our certification test. So, when you ask yourself if you “need” our certification, also ask if you feel that you “need” an additional $28,800 extra over the next ten years. That can buy you almost a brand new Toyota Corolla after seven years!

$14 Extra per signing + lots more offers makes Elite a good investment
Our Elite certification is intentionally priced higher than our regular certification. We are charging $179 currently. Notaries comment on how that is expensive, but what they should be focusing on is what it can get them. Elite certified notaries have a monopoly on the market. We make it easier for them to get to the highest spot(s) on the list, and people who use 123notary vastly prefer our Elite signers as they are four times as knowledgeable (in my experience) as un-123notary certified Notaries. Getting our Elite certification will make you stand out, get lots more work, and get paid roughly 14% more for the same work! Your entire career could be changed by this one decision. We prefer if you have signed a few thousand loans before you take our Elite course, but that is up to your discretion!

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What’s the difference between getting 16 clicks per month and 100?
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10 quick changes to your notes that double your calls
http://blog.123notary.com/?p=4499

A detailed look at the Elite Ninja course
http://blog.123notary.com/?p=4621

Augmenting your skill set to make more as a notary
http://blog.123notary.com/?p=14150

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April 22, 2015

30 Point Quiz — Jeopardy

Filed under: Loan Signing 101 — Tags: — admin @ 11:28 pm

In this section, we will test you on some, but not all of the concepts in the 30 point course. Once you feel you are ready, you can email us at info@123notary.com to schedule a time for your over the phone course. If you do extremely well on our test, we might either give you the certification icon, or offer you the certification icon at a discounted price if you didn’t purchase the certification course or loan signing combos in the past. However, we will not reveal how many points you need to earn this certification. Additionally, the content similar to the certification exam would be reflected more in the first 15 questions on the test rather than the last ones!

(1) Other than his loose-lipped girlfriend — The first place you should look for the Lender’s contact information.
What is the ________________ ?

(2) The first place you should query to find Poisoned Prepayment Penalty info without asking the wicked Escrow Officer.
What is the ________________ ?

(3) This type of holiday (mercifully missing meter maids) isn’t factored in to the 3 days a borrower has to cancel their refinance.
What are ___________________ ?

(4) This Mortgage term is similar to The Rate
(batteries, certain fees & closing costs not included; only available at participating locations, restrictions apply; must be 18 or over to enter)
What is _______________?

(5) This is the fee documented in the HUD that can help you get something on the value menu.
What is ___________________?

(6) This Deed lets you take your name off of Title; Think of it as the “Name off Title Affidavit” although you’d be “off” if you thought such a document existed.
What is __________________ ?

(7) This document proves that you reside in the subject property. An if you live in an elevator you’ll need 12 of them.
What is ____________________?

(8) This document is an identity thief’s biggest nightmare as it will have your social security number typed incorrectly and claim that you graduated from Harvard when in reality you went to school online at the University of Phoenix.
What is _______________________ ?

(9) This document makes the borrower agree that they’ll cooperate if clerical changes need to be made in the documents. But it won’t change your loan amount from $200,000 to $20,000,000; so don’t buy the private jet quite yet.
What is _______________________ ?

(10) This loan document takes jazz musicians half an hour to sign in 12 places. About the length of the world’s most annoying drum solo.
What is _____________________?

(11) Many Notaries complete signings incorrectly because they didn’t read this document or the Lender’s mind.
What is _____________________ ?

(12) If you do this on a document, you render it null, void or prohibited by law.
What is ________________ ?

(13) If the names don’t match, you must attach!
If the names on an ID and the documents are inconsistent, or you are doing a Power of Attorney signing, you might need to do this.
What is ___________________ ?

(14) If the borrower introduces you to his girlfriend, ________ you are the Notary. If your borrower introduces you to his girlfriend who is completely naked, call the Lender
What is ___________________ ?

(15) More than once, a secretary in a Title company lost a cashier’s check and the borrower lost their loan. Here is what the Notary should have done to prevent this situation from happening. And don’t get me started on how she misplaced the vanilla hazelnut creamer. Are we being sexist? No. At least a female secretary knows how to make coffee!
What is __________________ ?

(16) This how Samuel Edward Xavier, Jr. would initial.
What is _____________________ ?

(17) This document discloses the APR, and that ain’t no lie.
What is _____________________ ?

(18) The name on the drivers license was Tom Smith, but the Notary refused to notarize because his middle initial and middle finger were somewhere else.
What is __________________ ?

(19) The type of the Notary act must be recorded in the Journal. But, I swear this type of Notary act has no accompanying paperwork.
What is _______________ ?

(20) If black is the new green, this date in January is officially celebrated when St. Patty’s is not. Maybe this question is insensitive, but let’s make a Federal holiday, but not a Federal case out of it.
What is ____________ ?

(21) This type of Notary act can be used to get a university degree officially copied and notarized using a certified copy by document custodian form. It’s almost as easy as getting a fake college degree, or going to the University of Phoenix!
What is ________________?

(22) This type of Notary procedure is used to help elderly people who can’t sign their real name, or remember your name.
What is ___________________ ?

(23) This is a court appointed official that can sign over property when the owner refuses to cooperate in court. When your Quitclaim Deed quits, use one of these.
What is ___________________ ?

(24) This type of Notary seal leaves a raised impression, but not necessarily a good first impression in a piece of paper.
What is __________________ ?

(25) This type of witness is critical in assisting you if you are notarizing someone in jail who has no ID. Whereas your mother in law is just critical.
What is _____________ ?

(26) This section in an Acknowledgment form had a problem because an incorrect county was inscribed. Consequently, the Notary had to use a fresh Acknowledgment form and start all over again.
What is __________________ ?

(27) This action was committed when a signer swapped pages in a document that had already been notarized. The one time a guy chooses to be good at commitment.
What is _____________ ?

(28) This term describes the condition when a Notary will gain financially or in any other way from a document being signed.
What is _________________ ?

(29) This is a state of being where you fail to administer an Oath, omit a thumbprint (assuming you’re not a shop teacher), or forget to identify someone before notarizing them.
What is ________________ ?

(30) E&O insurance protects the Notary if they make an honest mistake during a notarization. But, doesn’t protect the Notary from being sued if they made a non-Notary error during the signing or if this other party made a mistake affecting the loan.
What is __________________________ ?

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You might also like:

30 Point Course Table of Contents
http://blog.123notary.com/?cat=3442

What’s the difference between a listing that gets 16 clicks a month and 100 clicks?
http://blog.123notary.com/?p=13185

A detailed look at the Elite Ninja Course
http://blog.123notary.com/?p=4621

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April 5, 2015

Point (16) Initialing; Lost in a cornfield

Filed under: Loan Signing 101 — Tags: — admin @ 11:25 pm

Marcy had been to the county fair recently. She really got to thinking as she was lost in the corn maze. But, then it all started to pop. It took her ninety minutes to get out of that maze. All of the routes seemed the same, with twists and turns, but only one would get her out of that maze. It reminded her of her career. One thing that Marcy learned, is that the maze had several signs in various locations that showed the routes. She just wasn’t reading the signs carefully enough. There was one intersection with five paths, and she kept taking the wrong one since they all looked almost identical. Where’s your GPS when you need it? She took each path one by one until she got the right one. Corn mazes are confusing like that. As she munched on some grilled corn at the fair after her ordeal, she was even more determined than ever before to be the perfect Notary. And besides, she would have to face her neighbor Patricia who didn’t tolerate failure (or bad corn)!

At Marcy’s next signing, she noticed that the name of the signer was printed incorrectly on the signature line of one of the documents. Marcy had them initial next to their signature. The next day she got a call from the Processor. The Loan Processor was upset that the initials were to the right of the signature which got in their way of doing the changes. Never had Marcy heard of someone other than her cat being so picky. After all, she did her job correctly, she had the borrower initial and sign the correct way. What more can you ask for? Furthermore, they didn’t do any forbidden cross-outs. Marcy felt her work was perfect. The Processor wanted the initials below the typed name under the last several letters of the last name. This is how 123notary teaches initialing incorrectly printed names by the way. Marcy said that she would do it that way from then on. Marcy went on to tell Patricia what had happened and Patricia said, “If it isn’t one thing, it’s another — but, keep this up. You’re really getting somewhere now! And remember, a cornfield of 10,000 acres isn’t planted in a day.”

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Point 16 — Initialing
Most Notaries don’t understand initialing. At least they don’t initially. Although there are no formal rules, here are some guidelines.

The initials should cover all parts of the person’s name being signed.

Theodore T Tidmore would initial TTT
Nancy Nissenbaum would initial NN
Thomas T Carl Edison would initial TTCE

But, what if it gets complicated?

Thomas Smith, Sr. would initial TS Sr.
Thomas Jones, III would initial TJ III
Thomas DeLuna is a little more complicated. I choose TD since the last part of the name is connected.

But,

Thomas De La Cruz De Philippe Rodriguez Ramirez Gomez would initial TDLC DPRRG — oh my God.

Where do initials go?
Where do initials go, assuming they are not on a tree representing a relationship soon to be DOA? On loan document signings, it is common for borrowers to initial all pages of the Deed of Trust, sometimes the Note, often the Universal Residential Loan Application (The 1003), and sometimes other multi-page documents. There is normally a one centimeter line in the lower corner of the page where the initials are intended. But, keep your eyes open, because the special line for initials might not be where you expect it to be.

Initialing changes
Many notaries do not understand the name changing procedure. It is really up to the processor to do name changes. However, the notary must at a minimum have the borrower initial any changes. My best client during my loan signing days was a processor which is how I know the ideal procedure for name changing. It is easier than you might think.

Have the borrower initial to the right below the last several letters of the typed name.
Have the borrower sign the correct way where they are supposed to sign.
Inform the lender in writing and by phone that the name is changed to whatever it is changed to.
There is no need to cross-out. Cross-outs cause a mess. there is also no need to write in the correct name. The processor can do that.

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You might also like:

30 Point Course Table of Contents
http://blog.123notary.com/?cat=3442

30 Point Course (17) The APR
http://blog.123notary.com/?p=14483

Can you notarize initials?
http://blog.123notary.com/?p=8269

Read about initialing in our industry standards blog entry
http://blog.123notary.com/?p=4370

Signing Agent Best Practices 63 Points
http://blog.123notary.com/?p=4315

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March 29, 2015

Point (14) Explain or Don’t Explain? Marcy Hires a Babysitter

Poor Marcy needed a babysitter. She called one of her regulars named Amy. Amy was a nice girl from the neighborhood. Marcy’s husband was getting on her case about spending too much money on babysitters.

HUSBAND: Why are you running all around town chasing notary jobs when you should be watching our kid?

MARCY: I’m trying to create a career so we’ll have a better future.

HUSBAND: Our future’s just fine. You just stay here, and we’ll make it. We made it so far.

MARCY: I’m tired of just sitting around the house. I’ve done a few dozen signings, and I’m getting the hang of it. There’s money in this!

HUSBAND: Okay, but I don’t like it. I have to work late and our baby will be all alone with a complete stranger!

MARCY: Oh, It’ll be okay.

HUSBAND: I hope you are making more than $20, because that’s what the babysitter is charging us.

MARCY: If I get paid I will.

HUSBAND: IF you get paid? What kind of business is this? I’m putting my foot down! I bet Patricia down the street talked you into this.

MARCY: I already have the appointment and Amy is coming over.

AMY: Hi, I’m here. But, one small thing.

MARCY: Anything.

AMY: I need to have someone come over while you’re gone. Only for a minute. Will that be okay?

MARCY: Well sure. But, who is it?

AMY: It’s for business. It’s not a friend.

MARCY: What kind of business? And at your age? Business?

AMY: Hmmm. To explain or not to explain. I would feel more comfortable not talking about it.

MARCY: Well, if you are having someone come to my house while I’m not here, I need to know who it is.

AMY: Well, it is sort of a guy who helps with paperwork. He stamps stuff…

MARCY: Is he a Notary?

AMY: Oh my God! How did you know?

MARCY: I’m also a Notary, and I’m going out to an assignment right now. I can notarize you for free when I come back.

AMY: Well, it’s kind of private. I’m not sure I want you to see the paperwork.

MARCY: Private? How private are we talking? Something you don’t want your mom to know?

AMY: If she finds out, I’m grounded for life.

MARCY: So, you’re in trouble? And you’re babysitting my kid? What kind of trouble?

AMY: Oh, it won’t affect you. It’s just for a test.

MARCY: Test? Are you on drugs? Or… Oh no.

AMY: I missed my period last month.

MARCY: Oh. I understand. You teenagers need to be more careful. Boys aren’t a game. You can ruin your entire life in an instant!

AMY: I know that now.

MARCY: Okay, you can have whomever you want notarize you, but no boys coming over here tonight or any night. Got it?

AMY: I understand. I’m glad I explained it to you.

MARCY: If you can’t explain, you have nobody to help you. But, if I can’t explain something. I just call the Lender!

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Point (14) When to explain and when not to explain

The points in this section are not too much different from point 13. But, we will go into more detail here. The main point is that general questions about loan documents are for the Notary to explain if your state laws allow for that. Specific questions about the loan require you to call the Lender or Title company.

What should the Notary do under these situations?

(1) Where is my prepayment penalty explained?
Show the borrower the correct page where the information is located.

(2) Why is my prepayment penalty so unfair?
Call the Lender or refer the borrower to the Lender.

(3) What is my loan amount?
Refer the borrower to a document that has this information.

(4) I thought my loan amount was $365,000 and now it is $390,000 with fees. I had no idea it would be so high.
Show them the HUD, and then perhaps call the Lender.

(5) I am supposed to sign my name as Theo T Tango, but my ID only says T Tango, what do I do?
Unfortunately, the Lender can’t help with Notary law issues as they will most likely encourage you to break the law in order to get the loan signed. Try to find a legal way to get the loan signed. Call the Lender if you want to know about using the Signature Affidavit though.

(6) Where is my APR?
Show them the Truth in Lending Disclosure

(7) I was told my APR would be 4.6%, but it is 4.7%
Call the Lender

(8) The signer wants to introduce you to their girlfriend
Politely say hi

(9) The signer wants their girlfriend to join you at the signing — naked
Call the Lender!!!

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You might also like:
30 Point Course Table of Contents
http://blog.123notary.com/?cat=3442

30 Point Course (15) The Prepayment Penalty
http://blog.123notary.com/?p=14447

Loan signing process & Pitfalls: explain the documents, not the loan
http://blog.123notary.com/?p=2780

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