Posted by SamIam_CA on 4/28/05 10:07pm
Msg #34729

How do you quantify the number?

When asked how many signings you have done - do you count the number of complete loan packages or the number of signers?

For example - you do a HELOC and a 1st. Three people are on the legals of each. Would you count this as one signing, two signings, three signings or six signings?

Reply by BrendaTx on 4/28/05 10:10pm
Msg #34731

From some of the numbers I have heard dropped here and there...

I think that would be equal to exactly 23 full loan signings.

Reply by Sheree_TX on 4/28/05 10:12pm
Msg #34733

Lol, Brenda. I did the math - I think you're right! ;-)

Reply by Stephen_VA on 4/28/05 10:39pm
Msg #34741

I counted 27...... but I'll accept Brenda's calculation.

Reply by BrendaTx on 4/28/05 11:27pm
Msg #34755

Stephen...go BACK and read...

Stephen...go BACK and read...

every post with the word "calculate" in it.

Study your notary rules as well as the notary rules from two other states without the letter "k " in it.

Only then can you understand that you must take the square root of the notary's weight and multiply it by 8.8% of the amount allowed to charge for mileage in the notary's state. ( That's A. ) Next you must find a common factor of the age of all the signers. If there is none, use 3.2677.

That's B.

(You remember now, don't you!)

A sq + B sq = C sq (Sq = "square" as in to the second power, of course)

# of signings = C x 2.8 !!!!!

Unless you are in South Dakota...and as you know...there's a totally different way to do it there.


It's a dicey thing to count one's number of signings. Read your notary rules before you rip something right off the top of your head.

27?

I think not.

Reply by SamIam_CA on 4/28/05 11:53pm
Msg #34761

Re: Stephen...go BACK and read...

Ah - HA! So that's what I was doing wrong!

Reply by Melody on 4/28/05 11:58pm
Msg #34764

Brenda, You are such a brat. n/m

Reply by Art_MD on 4/29/05 8:30am
Msg #34804

Re: Stephen...Missing factors

Brenda, you are in error !!

You forgot the following factors

#of signings calculated above times any of the bebow that apply


fax factor = 1 + (.05 x # of pages)

phone factor = 1 +(no of call from lo, ss, and mortgage co x .1)

Ameriquest factor = 3
Ameriquest factor = 6 IF IT FUNDS


Art

Reply by BrendaTx on 4/29/05 9:14am
Msg #34811

Re: Stephen...Missing factors: Art...

Aren't you using the Modified Method ? I think that this is one promoted by states which start with the letter "I".

Reply by Stephanie_CA on 4/29/05 4:49pm
Msg #34935

Re: Stephen...go BACK and read.....keeping it simple.....

to me a HELOC is one signing regardless of the # of signers.
It is one loan packet, to me it is one (1) signing.

Reply by Stephanie_CA on 4/29/05 4:50pm
Msg #34936

Re: Stephen...go BACK and read.....keeping it simple.....

Reread - a HELOC and a First = 2 Signings
Two sets of loan docs, so two signings.

Reply by ColleenCA on 4/28/05 10:10pm
Msg #34732

I would personally take your example and count it as two signings. Some might consider each signature that you notarize a signing, but the ss's are interested in how many loan signings you have completed, not how many signatures you have notarized.

Reply by sue on 4/29/05 5:20am
Msg #34793

I would have said one until I read Brenda's reply - now I realize I know nothing about nothing since I can't do square roots

Reply by Art_MD on 4/29/05 8:34am
Msg #34805

Re: can't do square roots

If you can't do square roots, you must be under 50. Over 50 people didn't have calculations to do square roots when they were in school and actually learned how to do one on paper. Under 50, to do a square root you push a button.

Art

Reply by BrendaTx on 4/29/05 9:34am
Msg #34815

Re: can't do square roots

Not over 50...had to learn it.

Never have depended on a calculator for math, so much...usually cannot find it.

When I have been in college classes where math is a part of the material/all of the material, I have realized how crippled calculators have caused people to be... people far brighter than I am. Sometimes a calculator slows me down actually...you know, because I have to find my glasses, or ask someone across the room to hold it for me.

However, by simply being able to add/sub/div/mul two numbers of more than two digits in my head younger people have dropped their jaw and perceived this to be evidence of brilliance...hardly...NO...far from it...just an old woman who did not have a calculator until after learning how to use my black CRC book of tables to take "a short cut" in high school trig and calculus.

Reply by Big B on 4/29/05 10:27am
Msg #34842

Loan packages.

Reply by Susie_UT on 4/29/05 11:10am
Msg #34859

Under 50 and proud of it! The only roots I do are in the hair salon every 6 weeks.
I count every apt. as one signing. I never thought of counting each loan. Wow, now I have even more experience!