Posted by budman63/tn on 8/11/11 12:56pm
Msg #393346

loan docs

Hi all, I am a newbie and have been asked to notarize a refi loan. I have been studying and researching loan signings, but, wanted to get an idea of how complicated these loans are? any help would be appreciated...

Reply by Stephanie Santiago on 8/11/11 1:14pm
Msg #393350

Re: loan docs: Budman, have you have any training in loan

signing?
Any at all?
I'm just curious.
Thank you.

Reply by Larry/IL on 8/11/11 1:31pm
Msg #393355

I would not attempt to execute a refinance if you have not had some training. A mistake on your part could cost you dearly if the lender or borrower loses money because of a mistake on your part. Even several years later.

IMO, Get some training,then let any hiring party know your new and how much experience you have.

Reply by Yoli/CA on 8/11/11 1:35pm
Msg #393358

Good advice from Larry/IL. n/m

Reply by jba/fl on 8/11/11 1:39pm
Msg #393359

You don't say how long you have been studying or your comfort level. We all started with the first one. Have you notarized other documents? Do you know the procedural difference between ACK and Jurat? Do you know how to give oath? Fill out journal if required in your state?

How confident do you feel? How much self-checking do you do? Will you be double/triple checking all the signing and/or initialing spots? while the borrower is still there? Don't want to have to go back on your own dime later. Do you have the equipment (laser printer?) for fast, efficient printing?

If you feel good about everything, it just may be time to hold your nose and jump into the deep end. Only you can answer these questions and know your attitude.

Good luck.

Reply by Russell Richard on 8/11/11 1:42pm
Msg #393360

Thank you all for the information. It is greatly appreciated.

Reply by Stephanie Santiago on 8/11/11 1:43pm
Msg #393361

Re: loan docs - Larry & Julianne - Thank you. n/m

Reply by HisHughness on 8/11/11 2:15pm
Msg #393365

If you are qualified to be a notary public, you are qualified to notarize loan documents. The notarial certifications there are no different than other certs.

That you are qualified to <notarize> loan documents does not mean, however, that you are qualified to be a signing agent. The requirements there go well beyond simply notarizing.

And let me emphasize that by "qualified to be a notary public," I mean that you know what is required of you with respect to administering oaths, journaling, stamping, and all the other aspects of being an NP. If you're okay there, simply notarizing loan docs that require notarization will be no problem.

I won't wish you luck, because if you know what you're doing, you won't need luck, so...go forth and do good.

Reply by Roxtar/CA on 8/11/11 2:34pm
Msg #393369

If you know the notary laws/forms etc in your state, you will have the notarized docs down. It is impossible to go over everything. Beyond your notary sections, make sure everything that needs to be filled out by the signer is complete. Also, make sure all signatures match the way it is printed below the line and all dates are correct and clear...... there is more to it like RTC dates etc but you can get free rescission calendars online. You will do fine.

Reply by Cody on 8/11/11 5:31pm
Msg #393377

call the nna hotline when you need assistance...

Reply by jba/fl on 8/11/11 7:05pm
Msg #393383

No - if you need assistance called whoever hired you. They will know that particular loan and its requirements much better than anyone else, esp. the nna. They have been known to give bad info. . . don't risk it.

Reply by Notarysigner on 8/11/11 8:15pm
Msg #393392

Disagree Cody with your suggestion, BAD advice

Why? Because you should learn how to find the information yourself and NOT rely on anyone. Only listen to those who will pay your fine or do your prison time for you. IMO

Reply by Cody on 8/12/11 9:34am
Msg #393422

Re: Disagree Cody with your suggestion, BAD advice

sarcasm my friend....

Reply by jba/fl on 8/12/11 9:58am
Msg #393424

The problem with sarcasm when written here is that

it looks like valid advice. Sarcasm is tricky when written or not spoken. Your 'advice' was bad, IMHO. This person genuinely was looking for guidance so to set them off incorrectly is just wrong.

Reply by Buddy Young on 8/11/11 9:27pm
Msg #393402

You can take a class online go become a certified loan signing agent , i took mine at all states notary

Reply by LKT/CA on 8/11/11 10:56pm
Msg #393410

Over a year ago, I mentored four new Notaries and showed them the ropes by doing a mock loan signing for them and giving pointers. 3 treated me to lunch at a nice restaurant of my choice. I met one for coffee. But I was willing to do that because I am not concerned with "training my competition" as some may be. I don't even consider the UPS Store or AAA office much competition. Most of my customers need a notary to meet with them after hours, particularly those who work late, have kids, are a caregiver for their elderly parent, or have health issues themselves.

There was a man I notarized for in the hospital over a year ago. He saved my business card and a several weeks ago called me to come to his home to notarize. Another call I was going to meet with him, then he canceled and said his bank would notarize what he needed, even though it wasn't bank businesses. Most banks no longer notarize if the document is not bank business drawn up at that branch. Apparently, his still notarizes anything for their customers. I thought that he'd most likely go to his bank from now on, why call me and have to pay a travel fee? Well, I thought wrong......he called a few weeks later and requested mobile notary service to his home. I no longer make assumption about who will or will not call for mobile notary service, nor do I concern myself with competition.

Maybe a Notary in TN who, like me, is not concerned with "training their competition" would be willing to do the same - you'd probably have to email many before you find one. Good luck.

Reply by taxpro on 8/12/11 10:38am
Msg #393427

The banks in my town refuse to notarize POAs, trusts, and many other docs. The UPS store and the notaries at the library are the same way. They only want to notarize the most basic docs....too much potential for liability, or they could get dragged into court years later. It's just not worth it to them. For the pittance I charge for walk-in GNW, it's really not worth it to me either, but I feel it's my job as a public official so I do it anyway.