Posted by Bob/Ventura on 6/15/04 1:41pm
Msg #3061

Loan Signings

Hello everyone. I'm in background check still so I'm the rookie in Ca and have been educating myself with all the comments from this board. I wish to thank all of you in advance, for your knowledge and experiences, which I will apply to my notary business plan. So " Thank You ". I did go through notary classs.com in Santa Barbara. Had lots of fun, met some great people. I passed my test then purchased " How to become a Wildly Successful Loan-Signing Agent" , by Joan Bergstrom and Cheryl Elliott. Thank you Joan and Cheryl. It is very good reading and made me feel more at ease, starting from dummieville, USA. My thoughts are that loan signing can be lucrative and yet confusing, if your not very knowledgeable with the process. I realize some comes from hands on and the rest from being prepared. Is there a class or book that has a predetermined route I can prepare for. Otherwards, is there a reading that explains the way I can explain and present these docs at the signing for someone starting out?

Reply by Melanie on 6/15/04 2:41pm
Msg #3067

Bob,

Is this just for Notaries in California? Or anywhere? I am in Mississippi and only have 6 closings under my belt but had 8 and they were canceled. Where can I get this book, if it is available, in MS?

Reply by Bob/Ventura on 6/15/04 3:53pm
Msg #3076

Hello Melanie. Was out to lunch so thanks for the response. You may reach Joan and Cheryl to order there book at: [e-mail address] This is a very well written book which contains about 70 pages. I paid about $89.00 for it and received my copy via email. It prepares you for loan signing based on their many years experience in the business. Cheryl was at my class to lecture when i took the training. She was very exoerienced in her approach and I really got a clear grasp on things, where I felt lost before. I think one thing that could be added to her material, would to have an example of how to explain the "Right to Cancel, The HUD settlement sheet, Note, Truth in Lending, Prepay Rider and First Pay Letter". This could accellerate the learning curve. As you may or not know, when your new, its alot to mentally put together, if your a veteran we just don't appear to be on the ball. I highly recommend the purchase. It really puts you in a more professional mode and saves you alot on the learning curve. If you need more info, I'll be happy to assist, just reply back. Thanks, Bob

Reply by joanbergstrom CA on 6/16/04 12:34am
Msg #3085

Thank you Bob for the nice comments concerning the guide.
In Calif. we are not allowed to explain the Loan Documents to the borrowers. The state views this as giving advise as a lawyer which we are not allowed to do.
I realize this is not the answer any new loan-signer wants to hear but we are allowed to point out the loan document where the borrower can find an answer. Such as "When is my first payment do?" Tell them to look on the Note. These kind of "Where" questions we can do.
Email me at [e-mail address] if I can be more help. Good luck!!

Reply by redonthehead on 6/16/04 11:02am
Msg #3104

I am also a CA certified notary signing agent and I give a brief description of the documents I am presenting to the borrower. I never explain the terms of the loan because I don't know anything about their loan but I will describe, as in the "Right to Cancel", "By Federal law, you have 3 days to rescind on this loan. Your signature acknowledges receipt of this document". The HUD, "These are your final charges for this loan". Anything beyond a brief description, I tell the borrower he/she has to speak with the loan officer about.

Reply by Anonymous on 2/2/05 2:21am
Msg #19119

How are you doing in the business NOW? I'm new and haven't signed anything yet. Are you GLAD you became an agent? Did the BOOK help you that you bought about how to become WILDLY successful? Thanks.