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July 19, 2016

What types of loans do you know how to sign?

Please don’t say, “I sign them all.” Few Notaries really sign them all, so saying you sign them all makes it sound like you don’t know the names of all of the types of loans. If you are dressing up your Notary profile, it is recommended that you clearly state a list of the types of loans and/or documents that you are familiar with.

Refinances (1sts, 2nds, Piggy Backs, FHA, VA), Conventional, Commercial, Residential, Modifications, Debt Consolidations, Debt Settlements, Purchases, Cash Sales & Purchases, Reverse Mortgages, Applications, Annuities, Helocs, eSignings, Time Shares, and more… There might be more that I forgot to include, but those are the main ones.

Many other Notaries do I-9’s, Wills, Living Wills, Powers of Attorney, Affidavits, Auto Titles, Boat Titles, Permission for Minors to Travel, Contracts, and more.

The worst thing you can do is to claim that you have a good knowledge of the docs. That says nothing and sounds like baseless bragging. So, don’t be vague, and state the facts. Other facts about your service are helpful in you notes section.


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November 11, 2015

The husband was on the run the wife explained

Filed under: Drama & Tragedy — Tags: , — admin @ 1:17 am

One notary was assigned two loan modifications from two companies for the same town. The Notary communicated by phone with the signer(s). The wife explained that they couldn’t sign the loan because the husband was on the run. She had no idea where he was. Personally, I think life would be a lot eaiser if men came equipped with a GPS chip embedded in their forearm, but it doesn’t work that way — at least not in 2015. Perhaps with Obamacare we’ll all be chipped in a few years and have the government know where we are and what we’re doing.

In any case, the Mortgage companies didn’t accept no for an answer and demanded that the Notary do the signing. But, how can you do a signing if nobody is there to sign?

Signer on the run….
Signer on the run…
Can’t complete the signing
Man on the run…

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November 5, 2010

Loan Modifications – What You Need to Know!

Loan modifications are a relatively new type of loan product.
They can be a good source of income, but can also be a source of anxiety or TROUBLE. Laws differ from state to state. But, loan modifications are supposed to be sold by an attorney in many states. The sad fact is that desperate homeowners who were losing their homes fell prey to loan-mod scams, and lost their shirt. So, are loan-mods bad, or good?

The truth is that many companies offer loan mods, and the environment keeps changing as we speak. You can visit 123notary’s forum and find out who the disreputable players are in the market, so you can stay away from them. But, recently some good companies have entered the picture.

What do you have to look out for?
(1) If a company asks you to claim that you represent them — that’s bad. you are a notary, and represent your state only. Don’t lie and claim you represent someone that you don’t.
(2) If a company is collecting a huge check from the borrower to get them started, that’s a warning sign. Loan modifications are supposed to help borrowers stay afloat. If they are taking advantage of the borrowers, that’s bad.
(3) Check loan modification companies on the or notary rotary forums to see if they are reputable. Many loan modification companies don’t pay their notary public service providers!

Hope for the future.Recently, B of A and Wells Fargo have joined the loan modification arena. These are two highly reputable companies that many of us have been doing business with for years. Don’t judge a loan by the type of loan it is, but judge it by the individuals or company offering it.