Posted by Anonymous on 11/16/04 8:47pm
Msg #11465

Scared to death

Hi there...I am a new notary and although I am constantly studying the books and websites regarding policies for notaries, I am not too clear on doing work with lenders/mortgage companies/etc. All that real estate related stuff wasn't really something we discussed during the certification class. Mostly our instructor said regular notaries aren't used as much in that area anymore because they mess up quite frequently. Most companies prefer loan signing specialists.

Soooo...in the event that someone wants me to do a loan signing, even being a regular notary(since I've never done that before), what are some common mistakes that happen when signing loan docs(or documents similar in nature)? I'm only asking because the last thing I want is to go and look like an idiot and never get anymore jobs.

Thank you from the bottom of my heart!

Reply by Marie Nagy on 11/16/04 9:14pm
Msg #11467

Dear Annon, You are SO not alone. I too am very new to this and have posted my own question in this site. I hope you don't mind, but I will be following your questions closely for my own education. You have very valid points. Take Care, Marie

Reply by Avis Davis on 11/16/04 10:10pm
Msg #11468

I'm a new signing agent and have the same concerns. I'm also a full time real estate agent and understanding the content of the docs isn't our responsibility. We're just there for appropriate signatures on complete paperwork. I recently did my 2nd signing and the borrower happen to be a previous client who had his home listed last year and decided to keep it and refi. I explained to him what my role was in this transaction and also informed him that my goal was to be as accurate and do my best to provide him with the best service. After finishing up he thanked me for my patience and accuracy. He had now idea that I was shaking in my boots. I highly recommend taking the certification course. It does help you to get familiar with what documents provide what info, so that you can direct the borrower to the appropriate document to answer his own questions.

Reply by Glena/NV on 11/17/04 12:24am
Msg #11476

I was a newbie once and the first two signings I did, I was nervous, but I made it a point to review the documents before I went to the borrowers house and to get familiar with the forms. At the signing table, no matter how nervouse I was, I tried hard to not show that and acted like I knew what I was doing. After the signing, I reviewed all the pages before packing everything and before leaving. They were both night time signings, so when I got home I reviewed them one more time. On the first signing, I missed an initial and a signature. I called them that same night to see if I could go there first thing in the morning to get those done. On the second, I did everything right. . The SS never knew that I made a mistake on my first set.

My advice to you, get flags. Mark which ones need to be notarized, which ones need initials, and which ones need signatures. Also study each forms so that when they ask you what they are, you can tell them. Remember, that you could not answer any questions that are loan specific. Even if you know the answer, direct the borrowers to call their loan officers or explain to them that if they cannot get a hold of the loan officer, they always have the option to use their 3-day RTC.

Good luck!

Reply by Ted_MI on 11/17/04 7:29am
Msg #11487

Hi,

I wanted to second Glena's suggestion about using "flags". I purchased some post-it flags from Kinko's/ Fed-ex. I spend a lot of time going through the documents prior to the actual signing, indicating with these flags where someone needs to sign, where a signature needs to be notarized, etc. With these flags, it is a lot more difficult to screw up during the actual signing.

Reply by CarolynCO on 11/17/04 7:46am
Msg #11489

Re: Remove flags before getting signature

I learned quickly when using flags to remove them *before* the borrower(s) actually signed. Borrower(s) signed directly over the flags the first few of my signings, which meant that only parts or none of the signature was there once the flags were removed.

Reply by Ted_MI on 11/17/04 10:06am
Msg #11498

Re: Remove flags before getting signature

Well, indeed that would not be good if the borrowers attempted to sign over the flags. I always make sure to put them in the margins. I do take them off, however, before sending the package back to the lender.

Reply by CarolynCO on 11/17/04 11:13am
Msg #11504

Re: Remove flags before getting signature

Well, I *thought* my flags were far enough in the margin as to not cause a problem. The few times I was mistaken has caused me not to use them at all, or to use them for my own info and remove before handing docs to Borrower(s).

Reply by Mortgage Closers of San Antonio - Kenneth C Whitton Jr on 11/18/04 8:41am
Msg #11574

Re: Remove flags before getting signature

I always remove flags from documents before arriving at a closing. The flags give the impression that I am untrained and not sure of what to do...

Ken

Reply by BrendaTX on 11/18/04 9:06am
Msg #11579

Re: Remove flags before getting signature

Ken, from the beautiful city of San Antonio, Texas, said: "The flags give the impression that I am untrained and not sure of what to do..."

IMHO all in the eyes of the beholder, so to speak. Sometimes they help, and sometimes your theory is also correct.

I don't use flags much anymore unless I can tell upon phone contact that it might be needed to facilitate an easier signing due to borrower's nervousness.

If borrowers are nervous, I put a lot of mental energy into presenting things so they won't be.

I have an abundance of patience with their situation from my experience of having to go from married woman to widow and making tons of quick life-affecting decisions that were scary to make without my husband. I can usually pick up on their disposition with my first phone call to them.

The flags placed ahead of time in certain situations make us all more at ease at the signing table. I act on instinct if I feel this will help, but don't put them in if I feel the folks are well-prepared ahead of time.

Using a trick I learned from the excellent signing service "Terri Dyal Processing," I use: Pink ones for her, and blue ones for him. (Or another color combo if those are not available.)

Reply by CarolynCO on 11/18/04 10:11am
Msg #11588

Re: Remove flags before getting signature

Ken said "The flags give the impression that I am untrained and not sure of what to do..."

I disagree. From working in law offices for 20 years, there is nothing uncommon, unprofessional, inexperienced, or untrained about putting "sign here" or "notarize" stickers on client docs.

I used the stickers when I first began signing because I'm not too proud to admit that I *was* inexperienced and I didn't want to miss something only to have to return to Borrowers. HOWEVER, Borrowers were unaware of my lack of experience and they never once gave the impression that the stickers shouted my inexperience or uncertainity. I've gotten away from always using stickers today, because I've gained experience and pretty much know from the name of the docs, which need signed, initialed and/or notarized. However, if my schedule is tight with signings back-to-back, I will use the stickers "again" so that don't miss something.

If a newbie or even a seasoned signer wishes to use stickers, there is certainly no shame in doing so.

Reply by Mortgage Closers of San Antonio - Kenneth C Whitton Jr on 11/20/04 1:04pm
Msg #11766

Re: Remove flags before getting signature

The stickers are used in offices to indicate to someone with whom you will not be personally discussing, exactly where they should sign. Maybe I am just old fashioned, or just overly confident, but with over 700 loans signed and zero errors... I did not mean to ruffle feathers, just simply stating my experience with this.

Reply by Al - CA on 11/17/04 11:20am
Msg #11505

Glena - great advice. But I wanted to point out for the new notaries out there that not all loans come with a 3-day right to rescind. One of the very first loan signings I did as a newbie was a purchase loan, which of course doesn't come with a 3-day RTC.

I did exactly what you have done - I took about two hours before I met with the borrowers to review all of the docs. and flagged everything.
Thankfully - everything went fine.

Reply by CaliNotary on 11/17/04 3:17am
Msg #11477

The easy way to avoid this is to not take any loan signing jobs until you've developed a basic knowledge of how to do it. Just being a notary doesn't mean squat, you have to have knowledge of the signing industry as well.

You can take a class, read a book, find a signing agent to mentor you, there are several ways to go about it. And of course, read all the messages on this board from the beginning, you'll learn quite a bit that way.

Reply by BobnSoCa on 11/17/04 11:54am
Msg #11507

Thank you CaliNotary for your response. I've been trying to formulate my 1st question on this forum as this is positively my last career change (too many years to admit) and I desperately want to do it right from the gate (i.e. I'm a shameless perfectionist). So..., I've been contemplating getting certified before I start this endeavor, and hope you will advise me on my planned course of action, which is: take the course from the "Mobile Notary Signing Registry". Your response -- or that of anyone w/experience on this forum -- would be greatly appreciated. -- Thanks

Reply by CaliNotary on 11/17/04 1:58pm
Msg #11518

You will find a lot of varying opinions in here about the value of being a certified signing agent. Many of us (including myself) feel that the certification itself is worthless. But the actual course may be extremely valuable as a learning tool. I have no idea how good or bad the Mobile Notary Signing Registry course is as far as learning the job.

I will take this opportunity to put in a plug for a notary that I know who is teaching loan signing classes in Southern California - Janet Lynch. I know that you'd end up with a strong, practical foundation to begin your loan signing career from her teachings. Here's the link to her contact info if you want it:

http://www.notaryrotary.com/agent/details.asp?ID=&RPID=1AAA00000323&RID=ECD4975CA402FE66960AE2533DCF8BE7&back=1

Just keep in mind that you're not going to know everything when you get started, there is definitely a lot of learning to be had as you do more and more signings, and you'll probably make a few mistakes like we all did. But if you have a good basic knowledge of how to do the job from the get go, that should put you ahead of most of the other new notaries who are blindly stumbling into this profession expecting the money to just come rolling in immediately.

Reply by BobnSoCa on 11/17/04 2:15pm
Msg #11521

CaliNotary: Thanks a million for your reply and advice. I will look into your plug for Janet Lynch and see what happens. Thanks again for your timely response.

P.S. I did forget to mention in 1st post the primary reason for mentioning "Signing Registry" was their promise of providing a mentor. That's obviously a strong selling point, so if anyone has info about this, would again appreciate any reply. -- Thanks to all

Reply by NICOLE WELCH on 11/17/04 2:47pm
Msg #11525

I am new to the signing agent portion of being a notary, but the actual notary part is easy. I have NSA mentors who I have gone out on several trips with, this helps to familiarize yourself with the process. Also, ask a loan processor for a standard loan package, go over the forms for yourself, even though the forms are tailored for the lender, this will help you to familiarize yourself with the process. The title company, that I work for flags the package with sign, initial, etc..this is helpful, I also like to review the form for completeness before I leave the premises. I explain to the borrower/seller, that I am doing a review for accuracy and to ensure that the package is acceptable to the company. The majority of the people that I have come across have been patient with my Type A reviews.

Reply by Joan Bergstrom on 11/17/04 11:21pm
Msg #11557

Re: This might help

At www.notaryclasses.com we offer both loan signing classes (for Calif.) and a loan signing book available for everyone in the United States to use.

It will show you how to market, how to conduct a loan signing with loan documents included, what equiptment to buy, and lastly how to get paid. Check it out!

Reply by ml on 1/12/05 4:59pm
Msg #16472

In regards to CaliNotary, Your suggestion of having a mentor to help out is great but I have found it impossible to find anyone willing to help. The normal response I'm getting is, "Tough time to be getting into the industry because of saturation of notaries." I'm glad I have found this board as it has allowed me to search out many different topics. Well, if you know of anyone willing to have me along on a loan signing apt. in the North County San Diego area please let me know.