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March 1, 2015

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

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.

(ring-ring)

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!

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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.

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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.

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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.

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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.

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You might also like:

30 Point Course Table of Contents
http://blog.123notary.com/?p=14233

30 Point Course (8-9) The 1003 & Compliance Agreement
http://blog.123notary.com/?p=14335

HUD-1 Settlement Statement
http://blog.123notary.com/?p=10197

I go over the HUD-1 First
http://blog.123notary.com/?p=4819

The Affidavit of Occupancy
http://blog.123notary.com/?p=10193

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November 18, 2014

HUD-1 The Settlement Statement

Filed under: (4) Documents,Ken Edelstein — Tags: , — admin @ 9:04 pm

“We are waiting for approval of the HUD before we can send you the docs”. I’m sure you have heard that frequently. Arguably the single most informative document in the package. The HUD, along with the Note, Mortgage and TIL (you better know what the letters stand for) comprise the heart of the deal. Although the HUD is usually not notarized, you DO have to take a look at it.

Probably the most important things for you to check are lines 303 and 603 on the first page. But first take a look at items D and E on the top. D & E name the borrower and seller. Generally you will meet either the borrower or the seller; occasionally both. Now you know if you are meeting with the borrower or the seller, and a quick check of 303 and 603 will let you know if there is “Cash (x) From” due. You are expected to notice cash from and to pick up the payment.

Generally the check is made payable to the Settlement Agent. The agent is named in box H at the top of the form. The check(s) are usually made out to the name in box H. On page 2 in the 1100 series of entries there is often a notary fee listed. Sorry, but that is not the amount that you will receive; it’s the amount payable to the Signing Service. If it says $350 and you took the job for $75; you can be sure the Signing Service considers you a hero. As you recall they said they are only getting $125, you might have a slightly different opinion of them.

There is generally a separate signature page. Oddly, the signature page is often not numbered and really has no “tie” to the HUD itself. Take care here; often the signature page requires two signatures. It’s an easy mistake to just obtain the first required signature but not the second. It’s also easy to become a favorite with the settlement company. They need several copies of the HUD and often make them and stamp them with “Certified True Copy” – they are always delighted when the notary prints a few originals, five is a nice quantity; and has original signatures on each.

Sometimes you will receive the entire package minus the HUD; which you are told will follow as soon as it’s approved. Wanna take a chance? If so, go ahead and print the two copies of the docs that you currently have in your inbox. Don’t be too surprised if you are told to shred what you printed. Numbers on the can HUD relate directly to other numbers in the package. If at all possible wait for word that the HUD is “final” prior to printing the package.

As the HUD is the key “money expenses” page; it’s common for the borrower to receive email with “preliminary” numbers. Obsolete HUDs (that are not the “final”) look very similar to the “final” that you brought to the table. Take care that an earlier HUD, printed by the borrower is not mixed in with the documents that you printed. Borrowers will frequently want to compare the one they printed (left hand) to the one you brought (right hand). Be absolutely sure that you return the one sent to you and not the one sent to the borrower.

There is a silver lining to the gray cloud of HUDs. It’s a federal form and almost always the HUD is basically identical and it’s easy to find information. However, I have seen “HUD clones” that do not follow the standardized format. Take care to look closely to determine how these are signed (perhaps also initialed?). Rarely notarized, it’s an easy form to process. Return a few copies of what was sent to you, signed in all the right places.

You might also like:

What are some typical types of affidavits
http://blog.123notary.com/?p=21334

Index of loan documents
http://blog.123notary.com/?p=20258

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

The 30 point course – a free loan signing course
http://blog.123notary.com/?p=14233

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January 12, 2014

I go over the HUD-1 first

I go over the HUD-1 First

Some notaries public start the loan at the beginning and go in the order that the documents are in. Ninja notaries call this following the order of the universe. But, other notaries public start with the HUD-1 Settlement Statement first. It is sometimes helpful to go over the most critical figures in the loan. That way if there is a problem, you will know at the very beginning.

On the other hand, you could call the borrower up before you leave your home and go over the numbers. That way you can stop a bad signing right before it even starts! That is sort of like reading the weather report online before you drive two hours to the beach. After all, do you want to go to the beach while it is raining?

One of our notaries public likes to go over the bottom of the 3rd page of the HUD and get to the really critical information first. To each their own. Just remember — either follow the order of the universe or follow your own inner order (if you have one). Good luck!

Think ahead — go over the HUD-1 Settlement Statement

Tweets:
(1) Some notaries start the loan at the beginning and go in the order the docs are in.
(2) You could call the borrower up before you leave your home & go over the numbers
(3) One of our notaries likes to go over the bottom of the 3rd page of the HUD & get to the critical info 1st.

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November 30, -0001

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

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.

(ring-ring)

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.

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January 4, 2020

10 reasons to get 123notary certified

Filed under: Certification & Communication Skills — admin @ 7:02 am

Back in 2004 to 2012, many people wanted to get 123notary certified and studied hard to get this designation. In the last few years, we retested our certified members and found that the overall skill level of people on our site had declined a lot and that most people were not willing to study. This is a huge mistake. Title and signing companies care about experience above any other qualification. However, they still reward people for knowledge and the clicks and jobs dispatched prove my point. If you want to have an edge over the other Notaries, 123notary certification is one of the most effective investments of your time — the other two being reviews, a stellar notes section and accumulating mass amounts of experience the old fashioned way. Below are some significant benefits for 123notary.com certification.

1. Get more clicks (but, not on route 66)
123notary certification currently gets Notaries an average of about 30% more clicks to their listing. It is one major factor of several that determines whether or not your listing will even get looked at. More clicks typically translates into more jobs, however, this relationship is not directly proportional. 30% more clicks in real life would translate into 40-50% more jobs. Many people will click once on your listing during a query. But, if they give you extra clicks, that means they are strongly considering hiring you which is why the click to job ration is disproportional and in your favor.

2. Get more jobs from Title
One Notary wrote to me after he failed his certification retest audit. He said that calls from title dropped altogether the minute I took his certification icon away from him. This is not true for all Notaries, but was his case which is why he studied many hours to pass the scrutiny of my questioning. People who work for title want solid Notaries, and they look at a number of factors including certification — and for God’s sake, please don’t have any spelling mistakes in your notes section on your listing or you can expect your phone to be dead.

3. Feel more confident about yourself
Many Notaries who master our materials like the fact that they know what they are doing. At the risk of sounding more like a deodorent commercial — many signing agents have told me that the feel happier and more confident talking to title and going to signings. Yes, they spend many grueling hours studying for our test, but they feel it was worth it and I respect their diligence.

4. Be one step closer to elite certification
You cannot just become elite certified at 123notary. You need to have a solid understanding of Notary procedure and vocabulary as well as a 123notary basic certification. Certification brings you one step closer to being ready to study for the elite test which is very different material and much more obscure.

5. 123notary certification is sought after by particular companies
I have gotten correspondence from Notaries who claim that 123notary certification is informally recognized by 1st American Title among others.

6. You will be a safer Notary
Many Notaries put themselves at legal risk because they do not know the legal significance of how they handle situations. Not keeping your journal correctly could end you up in trouble with the FBI or a Judge in court. Not keeping thumbprints could get you named as a suspect in an investigation as it looks like a cover up. Doing cross-outs when it is not necessary can get you in trouble with certain county recorders or Lenders. Knowing what you can do, and knowing what you can do that is prudent are two different questions. Learn how to please your client without creating liability for yourself by mastering our Notary materials. We have written blog articles where Notaries have gotten into legal trouble and had to pay up to $20,000 to defend themselves when they were innocent. Imagine how much easier it would be if you kept proper records and acted prudently at all steps along the way.

7. Multiple certifications make you look serious
As someone who deals with Notaries all day long, I can attest to the fact that I have a higher level of respect for Notaries who have three or more certifications. Those who just get the NNA certification and say, “That is all I need.” seem like underachievers to me. I have a higher opinion of those who took notary2pro, NNA, and 123notary certification, or Loan Signing System. When I was a Notary I got certified by five organizations to give you an example of someone who takes this business seriously.

8. Make $8 more per signing.
We did a poll many years ago and learned that our 123notary certified members average income made per signing (according to their claims after a mass email was sent asking them how much their average signing netted) was $8 higher than people not certified by 123notary. Elite members made $14 more per signing. Making more income per signing means that after expenses, you will be making a lot more per year. The extra income could add up to $5000 to $10000 extra per year for a busy Notary which might be $200,000 in their lifetime. It only takes ten hours to do a good job studying for our test. Is your ten hours worth $200,000? That’s $20,000 per hour. What else can you do that is worth that much even if you do brain surgery (or are a hitman) on the side?

9. Get perks from 123notary!
If we notice you are 123notary certified, you would be more likely to get opportunities for free or paid upgrades that the others might be overlooked for. Stop being overlooked and get certified today! If you are late paying your bill, we might give you a little longer grace period. And in general we will value you more because you represent knowledge, quality, and come across as being a serious Notary. Over all you will get better treatment from 123notary if you pass our test.

10. Be more fluent explaining things to borrowers
In real life there are certain things you can and should explain to the borrowers while there are others that you should refer them to a professional about. If you pass our test you will know where to find the prepayment penalty, how to explain the APR, what is on the HUD or CD, and when their first payment is due. You will have this information memorized. You will know that a signer can legally presign an Acknowledgment (in most states) whether the Lender “prefers” that or not and how to administer an Oath without falling on your face. You will be more professional and smooth in all of your transactions.

SUMMARY
Certification will help you get more clicks, get more work, make more per signing, be smarter, feel better, be a smoother Notary, and get on the good side of 123notary. It only costs a few hours of study and a small fee, so the only thing holding you back is lethargy. Get off your assets and get 123notary certified today!

You might also like:

Compilation of posts about certification & elite certification
http://blog.123notary.com/?p=16264

123notary’s comprehensive guide to getting reviews
http://blog.123notary.com/?p=16290

How to write a notes section if you are a beginner
http://blog.123notary.com/?p=16698

Unique phrases from the Ninja course
http://blog.123notary.com/?p=14690

The lady who studied 30 hours for her elite test
http://blog.123notary.com/?p=21238

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October 10, 2019

Stand up routine at a signing

Filed under: Humorous Posts — admin @ 11:23 pm

It started out being just a normal signing. But, the Notary was no ordinary Notary.

NOTARY: Hi, my name is Charles and I will be your signing agent this evening. If you have any questions during the signing process, please feel free to address those to me.

BORROWER: Sounds like a deal, Charles. We’ll conduct the signing in the dining room.

NOTARY: Great.

BORROWER: Would you like to sit down?

NOTARY: Oh, you see, my style of signings is more of a stand up signing.

BORROWER: Oh, yeah, I read in your reviews that you are a stand up guy. Now, I think I know what they meant.

NOTARY: Good one. I didn’t know my reviews said that. I thought it said that I showed up on time;

BORROWER: That was only for one signing, the one where you set your clocks back an hour in November. No wonder you were on time for the first time in your life.

NOTARY: That was low, but it works. Anyway. Let’s begin with the Deed of Trust. We need to initial each page.

BORROWER: Have you done this before, or do you consider this to be improv?

NOTARY: I did my routine once, but on a reverse mortgage, so I have to turn my jokes around for this type of signing.

BORROWER: Do you need to go back into the driveway and turn your car around too?

NOTARY: Not until the signing is over.

BORROWER: Good one! Okay, look. This is my initial initial.

NOTARY: Hey, not fair, you are funnier than me. Oh look, your APR is 6.2% — what a joke!

BORROWER: Uh oh, I could have you reported for kibbitzing on my loan. No commentary aloud — allowed.

NOTARY: Did you just make a word play? You are right, I have no place commenting on your loan, especially not satirically.

BORROWER: I didn’t shop around for this.

NOTARY: It’s okay. The 30 years you are paying 6.2% instead of 6.1% will probably only cost you $40,000 and I’m sure the ten hours you saved by not shopping around is worth more than $40,000, right?

BORROWER: Grumble. You are so fired, but thanks.

NOTARY : On the other hand, rates just went up, so you probably lost your lock, and the financial institution you borrowed from is one of the best and gives competitive rates, so you did okay. I just said what I said in jest.

BORROWER: Hey, you just made a word play with the just and the jest. Was that a soliloquy?

NOTARY: No, you are just being silly-oquy. Now, let’s look at the HUD or the Closing Disclosure. Hmm, it says the Notary fee is $300. Guess how much of that I get?

BORROWER: Umm, the whole thing?

NOTARY: You missed your calling in life — you should have been a comedian. No, I get $60 which covers my gas, printing, other auto expenses, and a happy meal.

BORROWER: Reminds me of the time I went on a rick-shaw ride in India. The guy wanted 70 rupees and I offered him 60. He said, “Hey buddy, the price if imported whiskey is not going down — 70, no discounts.”

NOTARY: How comforting. That reminds me of the Arabian signer I had who told me all about his harem. He had four Saudi girls, two African girls, but wanted a blonde. So, he went to all types of trouble to coerce a blonde to live with him in his palace. He finally got a girl named Christina to be part of his harem. He said, “Once I had a blonde blue eyed lady as part of my harem — Christina. She always used to talk back to me… I found it so (pause) refreshing. After three months I had to send her back to the states. I will never forget my little Christina.”

BORROWER: You know how it is for people in third world countries. I think there is an expression about white girls (or guys) — Once you’ve had vanilla, you’ll love like a chinchilla, sipping sarsparilla, on a beach on the coast of Manila.

NOTARY: That must be a come back to — once you’ve had black, ain’t no turning back.

BORROWER: Something like that, although yours is more imaginative especially with the chinchilla. Do they have chinchillas in the Philippines?

NOTARY: Not sure, I think they are cute little creatures who live in the Andes. Okay, now to the Right to Rescind. Forgive me father, for I have rescinded.

BORROWER: Oh, that’s an old one. I’ve heard that many times from all of the past Notaries I’ve met.

NOTARY: I know, sounds like something they would say on late night television on Craig Ferguson’s show. Okay, you can cancel by email, fax, or in writing.

BORROWER: I don’t have a fax.

NOTARY: Well then better make sure you really want this loan!

BORROWER: I think I want it. But, I do have email.

NOTARY: Better print out the email and the send date so you have proof that you sent it. You know how these banks are.

BORROWER: Okay, I signed here. Are you going to acknowledge my signature.

NOTARY: No, you are.

BORROWER: So, let me get this straight. I acknowledge my own signature, and then you are the one who gets paid.

NOTARY: As I said before — you’re in the wrong profession.

BORROWER: I’m beginning to think you are right.

NOTARY: Now, on to the signature affidavit. You have to swear that you signed it.

BORROWER: Okay, (raising his right hand) I swear.

NOTARY: But, you haven’t signed it yet.

BORROWER: Oh yeah.

NOTARY: Thank God you’re not a Notary, missing a signature like that — otherwise you’d really be in the wrong profession! That’s not only careless what you did, but illegal — 5 years.

BORROWER: Five years for a little joke?

NOTARY: That was under Oath with a public official — me.

BORROWER: Good God, I’ll stick to jokes about the APR from now on. Did you hear about the APR that wanted to go onto the next stage in life? He became a BPR.

NOTARY: Bad one. Boo. I got one. How do you define the APR to a non-borrowing spouse?

BORROWER: You mention it deducts many of the fees and closing costs before doing the calculation? That’s not funny.

NOTARY: It is with your loan. Have you seen the appraisal fee — that’s insane!

BORROWER: You’re fired… again. Except I can’t fire you because you have something on me — that damn Oath I took. My pre-signature Oath.

NOTARY: Those pre-signature Oaths will get you every time. I call them pre-sigs. Happens all the time. Borrowers will swear to anything, they think it’s cool.

BORROWER: Now to do the Jurat. You need to watch me sign in your presence for one of these according to what I read in Jeremy’s course. Are you watching? I’m signing now, keep looking…. I saw you look away… Keep looking.

NOTARY: Are you even watching what you are signing, or are you just watching me?

BORROWER: Oh, you are … what a scribble. I signed that? I should have been paying attention.

NOTARY: Correction, you should have been witnessing your own signature instead of trying to witness me witnessing your signature.

BORROWER: Once again, I’m in the wrong profession, but thank God I’m not a Notary.

NOTARY: Exactly. Jokes aside — yes! Okay.. got one. What did the Notary say to the borrower?

BORROWER: Umm. Sign here?

NOTARY: No, he said, “Sign exactly as your name appears on title.”

BORROWER: That sounds about right, but isn’t funny. What if the borrower is irate about their APR?

NOTARY: That’s more along the lines of where you get to the punch line. Or getting thrown down a flight of stairs.

BORROWER: Ouch. Did that really happen?

NOTARY: It’s all documented in Jeremy’s blog — real story, and that’s no joke. Now let’s look at the 1003.

BORROWER: Page three says, “This page intentionally left blank.” sounds like a Seinfeld situation. It’s more like a joke than a real loan document.

NOTARY: That’s the irony. It looks like a joke, but it actually isn’t a joke.

BORROWER: That’s kind of like most of your jokes in reverse. They sound like jokes, but they aren’t funny.

NOTARY: You laughed, so they are funny, at least to you.

BORROWER: You got me on that one just like my Lender got me on the APR.

NOTARY: Now it is time to do journal thumbprints. I need three thumbprints, one here, one here, and one here — one for each entry.

BORROWER: Here you go.

NOTARY: So, how would you rate the signing overall — jokes aside?

BORROWER: I would give it three thumbs, but not three thumbs up. Three thumbs horizontally.

NOTARY: Not sure if that constitutes an official rating, but it will have to do.

You might also like:

Index of best comedy posts from 2015
http://blog.123notary.com/?p=20295

The Mayan rescission calendar
http://blog.123notary.com/?p=15096

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September 5, 2019

Would you accept a notary signing without a confirmation?

Filed under: Business Tips,Signing Tips — admin @ 10:59 pm

One Notary on NR asks the crowd if they would accept a signing without a confirmation? The fact is that without a confirmation, you don’t know what you are getting paid. On the other hand, the notary payment information might be on the HUD or 1003 or other document. That leads me to another point.

If the notary doesn’t get paid after the job is complete, but the fees are documented on the HUD, does that constitute Mortgage fraud since they cheated you based on what was typed in a formal Mortgage document? Hmmm. But, I digress.

Even if there is a confirmation, the actual confirmation doesn’t guarantee you will get paid. However, it has the names and the address, loan number and other pertinent information.

Back in my day (boy am I sounding old) I used to have a lady who would just ship me documents and I would schedule them on my own. The problem is that those would arrive as a surprise and I had no idea they were coming. I guess she trusted me. Maybe she was busy. I got them signed fast and they paid okay.

As a general rule it is better and more professional to have a confirmation. However, the bigger issue is to trust the company you are working for. And trust is a result of keeping very good records on everyone you work for especially issues such as: Do they pay on time, do they jerk you around, do they lie, and do their incidents of cancellations compared to completed jobs (ratio). That way you can compare the various companies and see which ones are schmucks!

If it is a new company hiring you, I would be more adamant about formalities. But, with a company you trust it is less critical. On the other hand when someone asks you to visit them at a hospital for a signing, they do not give a written confirmation, but you would still go out, correct?

You might also like:

Confirming the Signing
http://blog.123notary.com/?p=19976

Notary Marketing 102 – Getting Paid
http://blog.123notary.com/?p=19794

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July 8, 2019

Looking Beyond the Notary Section – A case Example

Filed under: Ken Edelstein — Tags: , — admin @ 3:01 am

The classic examples
We are often told not to notarize a document that contains blank areas. Of course in reality we do exactly that in every loan package. Take a look at the 1003 (the computer version of the loan application). Lots of blank areas there and nary a single N/A. Once I was put on standby for many hours; to notarize the sale of a super tanker. The neatly bound document was thicker than the Manhattan phone book (alas no longer issued). It was about 1500 pages. I did not turn each page in a desperate attempt to find a wayward and un-entered fill in. After about 6 hours of waiting time, I notarized the (approx from recollection) two dozen affiants at the end.

What happened today
The document was an amendment to an incorporation agreement. There were to be eight affiants; even with the nicely preprinted notary sections it totaled four pages. Simple? Well there was an issue. Just prior to naming the trustees, there was the statement that the names and addresses of the trustees would follow. The names were there but not the addresses. I normally don’t read the documents, but wanted to be sure the list of names matched the notary sections. I mentioned the discrepancy to the person managing the signing. I was asked how this should be handled. I covered the I’m not a lawyer issue. They came up with three possible courses of action.

The first would be to simply write in the addresses. Second, would be to redact “and addresses”. The last was to simply ignore the matter. They choose option 2. So, when the “and addresses” had a line drawn thru (not at my suggestion), I felt compelled to raise the issue of the requirement to initial hand written changes.

The first two affiants had left the session after being properly notarized and were not present to initial the change. The other 5 initialed. Hmmmm, 8-2=5? Sorry, but one of the planned 8 could not attend and would be notarized at a later date, and also initial that redaction.

In all probability the infamous “fix it fairy” would provide initials for the two who left early; of course I did not suggest that. But, as unfair as it sounds to me; some were unhappy that I mentioned the discrepancy between the stated text and the data entered. In other words; it seemed to some that I “created a problem” – just by stating the obvious (to me) flaw.

In all probability I goofed In hindsight, as I peck away at the keyboard; away from the seven affiants who want me to resolve the “issue I created” – I shudda kept my big mouth shut. My biggest blunder was to agree on the 3 possible solutions. Perhaps the address is an absolute requirement for acceptance of the document. I truly don’t know. And, the only reason that I sailed into that blunder was by mentioning the issue.

Resolved: At least for me – if it’s not in the notary section, don’t read it, don’t comment on it. And absolutely say nothing about how they should proceed. It’s OK to mention initialing changes, but take no “legal opinion” about “course of action” when modifications are being considered.

You might also like:

Index of posts about Notary certificates
http://blog.123notary.com/?p=20268

A guide to notarizing documents with blanks or multiple signatures
http://blog.123notary.com/?p=20252

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November 8, 2018

Fixing certificates is a state specific nightmarish issue

Filed under: Technical & Legal — admin @ 11:44 am

I like to ask people questions about what to do if a certificate is wrong and you are asked to notarize using that certificate. The problem is that different states handle this differently.

MD does not allow a Notary to add a certificate — period.

CA does not allow Notaries to fix certificates. You have to start the procedure all over if there is any mistake.

OR does not allow Notaries to play Attorney and make decisions as to what can be crossed out, or added, so in Oregon a notary really has their hands (and stamps) tied.

There might be other states with odd rules about fixing errors, but those are the ones that stand out. Making changes to Notary certificates looks like tampering and could cause a nightmare in court. Adding new certificates can raise recording costs and alter the information on the HUD. You are damned either way. So, learn to deal with these issues without getting in trouble with your state.

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August 11, 2018

Names for Notaries to name their children

Filed under: Humorous Posts — Tags: — admin @ 11:31 am

We think of Notary work as something that we just do. But, what if we encourage our children to become Notaries? It might help if they had a Notarial sounding name to do well in the industry. Here are my ideas.

Sealmore
Venuetta
Juratella
Stampella
Enenay
Affi-David — you can name his brother Affi-Goliath
Rescinda / Rescindo
Stamper
Affirma — sounds like a health product or hair care.
Embosston — sounds more like a city.
S. Crow
S.S. — comes next to the venue.
Oatha
HUD-son
Journal — keep it simple
Signarturo
Notario — just don’t use this name in Texas without a disclaimer.
Durresto
Witnessino
Ginnie Mae
Hague
Heloc
Lockworth
Manual(a)
Non-conformito
Paula Ursula Davenport — initials would be PUD.
Respa
Rider
Ferdinand Harry Armstrong — initials would be FHA.
A. Paul Steele

Feel free to leave your comments if you have any other ideas.

.

You might also like:

Names for notary businesses with commentary
http://blog.123notary.com/?p=20765

Deceptive identities – companies that change their names
http://blog.123notary.com/?p=1090

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