Posted by sfvisaya/CA on 2/23/07 1:22am
Msg #176865

CLIP Closing

Hi all. I tried the orange button and had no luck on search results.

I'm a relatively new notary and have been asked to do a CLIP Closing and am not sure how it differs from other loans. When I get the docs tomorrow I'll be able to see for myself, but I am wondering if anyone can give me a heads up on anything I should be watching out for - big or small loan package, a lot of notarizations or simple package, etc.

Thanks in advance.

Reply by Joan Bergstrom on 2/23/07 2:04am
Msg #176868

It's normally a very small package and it could be from NREIS or NASCO; but I'm sure other companies also do "clips."

Reply by sfvisaya/CA on 2/23/07 3:35am
Msg #176871

Thank you for the info!!! n/m

Reply by James H. Lissemore on 2/23/07 6:01am
Msg #176874

If it is NASCO, it is an increase in a line of credit. They pay $58. Small package but is e/m and you have to print out a total of 4 copies of the Mtg. ( 3 copies signed, Notarized and returned).

Reply by Cam/CA on 2/23/07 9:23am
Msg #176877

Even though the packages are small there are alot of Notarization which take time, for two borrowers I have had as many as 7 docs to notarize x 2.....14 entries in my book.