Posted by Yvette Ambrose on 8/4/06 6:44am
Msg #137035

what does it mean

when only one borrower is named on the deed of Trust and there are two borrowers on the note and all other documents?

Reply by VERONICA DESCHANEAU on 8/4/06 6:48am
Msg #137036

It means you want answers to a test n/m

Reply by Yvette Ambrose on 8/4/06 7:20am
Msg #137040

Re: It means you want answers to a test

Exactly Did you take the same test? I still need the answer

Reply by LawrenceOK on 8/4/06 7:23am
Msg #137041

Re: It means you want answers to a test

I bet cheated in school also, didn't you?

Reply by Yvette Ambrose on 8/4/06 7:28am
Msg #137042

Re: It means you want answers to a test

It's not a test for a PHd. It's a questionaire on an application, something I never came across. It's no big deal.

Reply by SueW/Tn on 8/4/06 9:18am
Msg #137066

Re: It means you want answers to a test

"no big deal" ummmmmmmm, if I may.....signing a mortgage IS a very very BIG deal to our borrowers. Many of those questions not meant for a PHD are meant to weed out those that still have a bit of study to do. I wonder, what about your own notarial laws? No big deal???

Reply by Kevin/Ct on 8/4/06 7:43am
Msg #137043

The note and deed of trust/mortgage provide different legal remedies in the event of default. In Connecticut the default of payment gives the lender the option of suing for legal money damages on the note and/or also pursuing the foreclosure of title to the real estate. The signers on the note are liable for payment of money damages. The signers on the deed of trust/mortgage are liable for foreclosure. Only the title holders to the property sign the deed of trust/mortgage. Connecticut is a title theory state with respect to mortgages. When a borrower mortgages the property, he splits the title, conveying the legal title to the lender and retaining the equitable title for himself. Consequently, only the title holders to the property have an interest to convey.

Reply by Winston_Tn on 8/4/06 7:54am
Msg #137044

Re: Good Answer Kevin...but...

Are you not the least bit curious as to what you are applying for? The question on the application was meant to 'filter' out those whom do not know their business. The question on the application was directed to one whom is applying for ???? ... and its purpose was not to determine if 'someone else' in the notorial arena knows the answer. So, by all rights, you have either applied for ????, or assisted in the weakening of the notary pool as a whole.

Reply by SarahBeth_CA on 8/4/06 8:27am
Msg #137051

Yvette

This one would have been a good use of the orange search feature. If you have a test question say that you do. People here frown on these questions. Do some observing and get to know the lay of the land before posting and you'll get how things go around here.

Reply by BrendaTx on 8/4/06 8:32am
Msg #137054

Re: Good Answer Kevin...but...Winston

I doubt that anyone who would ask that test question would be able to figure out what the answers are yet from Kevin's breakdown. And, I think Kevin knows that.

Reply by Winston_Tn on 8/4/06 8:51am
Msg #137056

Re: Good Answer Kevin...but...BrendaTx

After a second perusal, you are probably correct... but... It shore wore a dang purty connectitalk dance on liability...yes?

Reply by BrendaTx on 8/4/06 9:00am
Msg #137058

Re: Good Answer Kevin...but...Winnikins

T'was one of the purtiest dances of its kind.

Reply by Yvette Ambrose on 8/4/06 9:29am
Msg #137072

Re: Good Answer Kevin...but...Winnikins

This was not a life or death situation. Lighten up.

Reply by VERONICA DESCHANEAU on 8/4/06 11:07am
Msg #137095

No Ms. Ambrose...

<This was not a life or death situation. Lighten up.


You lighten up...

Then surely you just go ahead and figure the answer on your own.....cheater cheater pumpkin eater

There is now too much competition out there for those who have worked hard to build their business from ground up to just give answers (which have already been answered in the past) to those who are just going to undercut us.

Reply by Kevin/Ct on 8/4/06 10:00am
Msg #137082

Re: Good Answer Kevin...but...Winnikins

Thank you, Brenda.

Reply by Kevin/Ct on 8/4/06 10:02am
Msg #137083

Re: Good Answer Kevin...but...

Sorry, can't resist the urge to lecture. You know how us "know it all" attorneys are, but I understand your position.

Reply by Charm_AL on 8/4/06 11:55am
Msg #137107

Re: what does it mean - Yvette...

It means putting the test away and going back to re-study notarial laws and loan docs and their definitions.

By no means does an ethical, moral and conscientious notary have to be a rocket scientist to qualify as a signing agent.
It does mean that a signing agent is required to know their laws, know what the docs are and how to explain them to the borrower(s).

When I started out, I googled for weeks to see if this was for me. I wanted a real business not the freaking MLMs or working 60 hours a week making someone else rich, while I pay half of my check to someone else raising my daughter for me.

I found a huge sources of valuable information that I needed to study to take and pass these exams and certifications. I did not look for a hand out here, as I had taken the time to become familiar with the board and notaries here. Found out what my start up costs, expenses and profit would/could be, I spent to upgrade my office with a fax line, dsl, LASER printer, long distance calling pkg., etc........It will be two years for me in November and I am am still learning, upgrading, etc.

I find that you've done none of this and to top it off, your attitude about - yeah, it's a test and I still need the answer is appalling to me as a professional certified signing agent.
I do not believe you have the right skills or mindset to run a business, where research, educating, test taking, marketing, planning, budgeting business expenses and time management, record keeping, bookkeeping, filing self-employment taxes/expenses for this field and most importantly - with the *this isn't for a PHD* - I'll remind you that you better know damn well what you are doing at a closing table from A to Z.
Know anything about going to court or being named in a law suit? It could cost you everything you own and if your offense is bad enough, prison time.

Get serious if you want this, if YOU want it don't put the hand out - it will get chewed up & spit out. And not because it's dog eat dog. We are professionals that are dealing with TCs and SSs trying to lower their fees to us because of people like you not knowing what you are doing or most importantly why and making constant mistakes, forcing them to save face and get another 'qualified' notary and I've heard stories about losing their client over it. Do you realize the impact you have on a TC's or SS's bottom line and their relationships with their business partners?

Even with all this said, I am positive others can add to the list of what it takes...A PHD no, but that does not make what we do any less serious, you are dealing with people's lives through their finances - you need to be bonded keep tight records, journal everything and carry E&O whether it's required or not.