Posted by Lisa/Tn on 2/13/10 2:14am
Msg #322648

Loan Closing, anyone know preferred

Got the call to close, but seems the papers are not the usual.
It states that we don't accept closing agents who are notary only. now that's new to me, how about anyone else?

Reply by LisaWI on 2/13/10 6:47am
Msg #322660

Lisa, can you give more information. Are you looking for information on a particular company? Complete name and location of company would be helpful.

Reply by Lisa/Tn on 2/13/10 6:52am
Msg #322661

The company is Preferred Escrow & Tittle LLC, Knoxville, Tenn.

Reply by LisaWI on 2/13/10 7:04am
Msg #322663

Havent heard of the company so have no experience with them, buuuut, by the looks of it and your original post, they are looking for someone who isnt just playing the role of a notary. They want someone who is experienced with loan documents and can identify the docs to the borrowers and highlight the terms of the loan to them. To alot of companies, you arent just a notary, but a Notary Signing Agent, or a Mobile Loan Closer.

Does that help you?

Reply by Lisa/Tn on 2/13/10 7:45am
Msg #322667

Yes, Thank You

Is it the norm for them to put in the closing papers that I must explain all loan documents.
Could this be right?

Reply by Lisa/Tn on 2/13/10 7:48am
Msg #322668

Also they are asking for 2 forms of ID sent back with loan package...........is that my ID or the borrower?

Reply by Lee/AR on 2/13/10 7:57am
Msg #322673

IDs would be the Borrowers. Girl, you need help. Please take Lisa/WI's advice and read this forum 'til your eyes bleed. Start with message 33325 by using the ORANGE search button.
But don't stop there.

Reply by LisaWI on 2/13/10 8:07am
Msg #322675

Wow!! I just checked out that thread and boy has it grown. Nice job everyone!

Reply by Lee/AR on 2/13/10 10:05am
Msg #322696

Yep. Message # 33325. Loan Signing course...100% FREE! n/m

Reply by LisaWI on 2/13/10 7:58am
Msg #322674

Lisa, exactly how many closings have you done?? It looks like to me you need to do some more research on this. Or take a course that will help you with loan closings. Maybe check out the Signing Registrys course. I believe its listed in Notary Supplies. Not a 100% sure if thats where its at on here, but I know its here somewhere. Or do a google search for it.

Reply by LisaWI on 2/13/10 7:53am
Msg #322672

Sometimes they specifically say something to that effect or its implied. Can I suggest you read this forum for a better understanding of exactly what is expected of a NSA. Knowing your state laws for being a notary is just a part of it. Knowing loan documents is another part.

Reply by Deborah Lewellen on 2/14/10 10:15am
Msg #322764

This is the Difference between Experienced Professional &...

Explaining what the document is when you hand it to the borrower should be standard,
if you are handing a document to someone and don't know what you are doing, then you
really need to go and study and get some education under your belt.
Jill over at Preferred is Great to work with, they as well as most companies want people
who will explain the document, not interpret or give their opinion, there is a difference.
If need be, sit down with a pkg. of documents and start reading each and every page, then do it
again, and again and again, till you know it forward and backwards, & upside down.
You shouldn't be surprised by them expecting someone they hire to perform a job the correct way.
If you feel you can't do this, then by all means, give the job back to them and let someone do the job
who knows what they are doing.
You wouldn't want an inexperienced nurse, doctor, lawyer, mechanic, or anyone else in any profession
handle something for you and not do a professional job. You expect the job to be done right the first time
and like most people would hoot and holler when someone who does a job for them incompetently would.