Posted by Al - California on 10/20/04 9:27pm
Msg #10163

Questions on a Signing Service Test

Hey guys - I received a "test" from a signing service. I can answer 99% - but the following have me stumped. I would answer them one way - but would like your input please:

1) Borrowers have invalid or no I.D. - What is the appropriate action?

a) sign them anyway (NO!)
b) Accept their birth cert. (NO!)
c) Accept their Costco card because it has a photo (NO!)
d) Call the lender and/ or signing company to report you can't complete the signing (Maybe?)
e) Use 2 Credible Witnesses (Maybe - although I have had some other notaries tell me that using 2 credible witnesses is not acceptable for r.e. transactions)

2) A corporate acknowledgement certificate is required when...

a) a person signs for a corporation as an officer or agent.
b) a person signs a document that will be sent to a corporation
c) articles of incorporation are signed and notarized
d) a person signs a document while in a corporate environment

3) Pre-paid interest is calculated from which date?

a) the lock-in date of the loan
b) the date of the disbursement of the loan (this one has my vote)
c) the date of the first payment
d) the second day of the rescission period

Thanks in advance for your assistance!

Reply by Nd_WA on 10/21/04 2:24pm
Msg #10237

1. D (credible witness can be use in this case but who/how/when witness is available)
2. A (the signer represent a corporation)
3. B (can't charge someone interest when the money is still in your pocket)

Reply by Al - California on 10/21/04 3:47pm
Msg #10252

Thanks, Nd. Appreciate it.

Reply by Jon on 10/21/04 3:12pm
Msg #10239

Unfortunately, only question #1 has a correct answer for CA. #2 and #3 do not give the correct answer as an option. Again, my response applies to CA only and may vary from state to state.

Reply by Al - California on 10/21/04 3:46pm
Msg #10251

Hey Jon - thanks. But in regards to your answer for #1 - what is your answer? LOL!
Thanks for the help