Posted by Anonymous on 1/23/06 12:41pm
Msg #90302

Newbie here....first closing jitters!

I have my first signing coming up tomorrow and I am really nervous! I really dont want to mess this up and get off to a bad start. Ive studied the docs but Im worried that this new companies docs are going to be very different and Im going to look like a fool. I had a couple of questions that I hope you guys can help me with! First of all how do I calm down?? LOL.....then I was wondering, if its a couple, does he need to initial the pages that she only needs to sign, just to be safe? If I wasnt sure about a particular doc and I had them sign it anyway, would an excess signature or initial be counted as a mistake? How do I know if funds are due from the client on the Hud?....what does it look like?...is it a minus sign? and finally I was wondering, is the "write over" method is right or wrong? People are telling me different things about it. I hope I havent been too much of a pain and thank you to everyone who helps me!

Reply by Jersey_Boy on 1/23/06 12:44pm
Msg #90307

First rule.... give yourself a name and post your state.
You'll get much better results if you do not post as anonymous.

Reply by srnotary_CA on 1/23/06 12:46pm
Msg #90309

Yes give yourself a name and state and take a deep breath. We have all had first signing jitters.

Reply by Shane_OH on 1/23/06 12:58pm
Msg #90316

A lot of those questions are state specific, so as the rest said, give us a state to work with.
Welcome to the wonderful world of shady signing services, non-paying people, and stress induced closing situations, where if you are lucky you could make $100,000 hehehe

Its a wonderful day to be an NSA

Reply by M_CO on 1/23/06 12:59pm
Msg #90317

Sorry about that. Im new to this.
So any useful pointers or tips? Those questions that I posted are driving me insane I just hope someone can help me with them. Thank you!

Reply by Bonnie_CO on 1/23/06 1:12pm
Msg #90324

Hi! Welcome to the board. Where in CO are you?
The only way to get rid of the first signing jitters is experience. There is a lot of helpful information on this board too. Read through it as you have the time. Good Luck!

Reply by CarolynCO on 1/23/06 1:43pm
Msg #90340

Re: how long have you been a notary?

have you ever notarized any kind of document?

Reply by CarolynCO on 1/23/06 1:45pm
Msg #90343

Re: also, make sure you have as much E&O ins. that you

can afford.

Reply by M_CO on 1/23/06 2:00pm
Msg #90352

Re: also, make sure you have as much E&O ins. that you

I got $25,000 worth, is that enough for E and O?

Reply by Anonymous on 1/23/06 2:06pm
Msg #90355

Re: also, make sure you have as much E&O ins. that you

Depends on how much you have to lose. The more you carry, the better.

Reply by Anonymous on 1/23/06 1:02pm
Msg #90319

Welcome to the wonderful world of notary signing agents!

All loan documents are different, but all have the same standard important documents, Note, etc.

If you have two signers listed on everything in the package, then yes. Both signers sign exactly as each document is printed. IMPORTANT EXACTLY as documents state. Initials would be the same. If clients name is allen b. anonymous. then initials have to be (ABA)

Some documents are seperate for each signer. In this case, only the person listed on the document needs to initial and sign.

Excess signatures or initials, might not be counted as a mistake, but it will definately show you are not totally familiar with the documents.

It is not your job to determine if there are funds needed by the client. This should have been clearly advised to you. If you look at the bottom of the HUD, normally there is a box checked. If the box (TO) is checked, this means money to the borrower (FROM) money from borrower. Make sure you are on the correct 1/2 of the HUD if you were sent a combined Seller/Buyer Hud. CALL the escrow company listed on the HUD and ask for the escrow officer or one of the assistants and ask for clarification.

Remember, only Certified funds are acceptable. Personal checks for large amounts will hold up escrow and require the client to close later than originally expected.

I am not sure what you are referring to when you state "write over" method? All corrections, you must draw a line over the mistake and have client resign or correct and always have the borrowers initial the correction. **Remember to follow directions above for initials & sigs.

You can remain Anonymous, just remember to put all pertinent information such as state you are a notary in, because the laws are different for each state.

Loan documents signing procedures are uniformally the same with some adjustments.

Good luck and I am sure you will do fine.

Reply by M_CO on 1/23/06 1:20pm
Msg #90328

Wow thank you so much!! I really appreciate it! I was really intimidated posting on here because everyone is so knowledgable but thank you so much for making me feel welcome! I also wasnt aware of the no personal checks rule! thank you! That probably has saved me from alot of trouble already! lol. Someone also told me that there is only one Hud, I cant seem to figure out the difference between the Hud and the Settlement Statement etc. Are there any other pointers that anyone can give me to reasure that Im successful in this business, or atleast some advice. What should be going through me head when im at the closing? Id panic if they asked me a q's about their loan! OH MY GOD I hope I will do ok! Thank you again! greatly appreciated!!!!

Reply by Anonymous on 1/23/06 1:39pm
Msg #90336

Never tell the client you are new. Make sure to let them know that there are so many different lenders and they are always updating and changing their documents, that you just want to make sure you do not miss anything.

Customers like thorough agents! More than likely you borrowers have never had someone come out to them or perform this service, so show them what to expect.

They expect you to be friendly and get all signatures on the documents.

Escrow review lender insructions and then prepares Hud-1 Settlement form. Lender also usually has a settlement form in the loan package. This is the lenders fees and other estimated fees. Escrow Company is the most accurate one.

If they still have questions, pick up the phone and call the escrow or lender directly, not the signing agent.

Unless, of course you are signed up with Charismatic Escrow Signer, Inc. in Las Vegas, NV. They have been very helpful. They always answer their phones for questions during signings. I do not think I have ever had to leave a message for them during a signing and if I did, they called back within 5 minutes or so. escrowsigner.com

I see you are in CO, they might get assignments there. They say they are Nationwide.

You will be fine. Show Confidence and they will see Confidence!

Reply by Narina Manukyan on 1/23/06 1:48pm
Msg #90345

Thank you, very helpful! As far as the "write over method", the company has sent me a confirmation page saying that one of the most common mistakes that notaires make is the "write over" method. So I have no idea what that means. I thought that as the notary I have the right to correct mistake on the package?

Reply by Anonymous on 1/23/06 1:53pm
Msg #90348

They are probably talking about corrections.

Remember, you do not correct the documents. You are not an attorney.

Only dates on the RTC would you normally change.

There is so much to tell.

Reply by M_CO on 1/23/06 1:58pm
Msg #90351

Oh ok! Well again thank you! I just cant wait until im so used to doing this that it becomes like second nature to me. I guess I just have to jump right in there and get my feet wet. Thanks for all your help, hope I wasnt a pain! lol

Reply by CarolynCO on 1/23/06 2:38pm
Msg #90372

Don't be afraid to call and ask the SS what they are talking about.

SSs and TCs all have different signing requirements. When you have a specific question regarding signing instructions, unless you name the company and someone has specifically signed for them, the answers you get by posting here, may or may not be right -- *assumptions*

Reply by CarolynCO on 1/23/06 1:56pm
Msg #90350

I've never understood the fear people have of actually calling the company and asking them questions pertaining to signing instructions.

Reply by Shane_OH on 1/23/06 1:43pm
Msg #90338

The HUD is also called the settlement statement.

If they ask you questions about their loan, and you can't find the page in the loan docs to answer their question, just direct them to their Loan officer. I tend to always say, that I don't work for so-and-so company, and I don't want to give them any "bad" information, so they would be best to talk to their loan officer, as they know the ins and outs of the particular program they are in.

As you get more comfortable signing, you'll learn what pages answer what questions etc.

Don't rush the closing, just go fluidly....it may help you to look over the next page to sign, while they are signing the current page...so you are a page ahead of them, and by browsing over the page, it'll help you refresh what the page is.

I like to go over the Right To Cancel, Note, and HUD first....it answers pretty much all of the questions most bwr's have. (rate, Payment, whats being paid off, cash back, and fees). After that most borrowers just zone out and hear "blah blah initial, blah blah sign"....

One other thing, some companies refer to the escrow account as an impound account, don't let it throw you off

Reply by Jenny_CA on 1/23/06 2:38pm
Msg #90371

Don't forget to double check for missed signatures and initials before you leave and once more before you mail them off. Good luck!

Reply by M_CO on 1/23/06 2:54pm
Msg #90377

Well thank you again everyone. You've all been very helpful. I just dont want to screw this up! One last thing.....someone told me that sometimes there are docs that dont have a place for a signature but have to be signed anyway, how am I supposed to know this? I dont want to make mistakes.