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test of your knpwledge of Real Estate documents
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test of your knpwledge of Real Estate documents
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Posted by A S Johnson on 12/8/13 4:59pm
Msg #495520

test of your knpwledge of Real Estate documents

When rules for Real Estate transactions that differ in each state, how can their be a nationwide standard test for SA certification?
The reason for state associations of Notaries with a section for SA.
I think these should be under the supervision of the issuer of Notary commission and SA section should be under the supervision of the governmantal ggency that issue Title/Escrow thier license to work in that state.

Reply by CarolF/NC on 12/8/13 5:28pm
Msg #495522

good question. when I took that xyz test much of it was

not applicable to NC. Since I don't plan on taking another test for money making organizations like xyz, let me know how the new one isSmile

Reply by Julie/MI on 12/8/13 6:21pm
Msg #495527

The title of the documents are basically the same, it's the body of the preprinted mortgages or deeds of trust that vary. And we don't need to know the details of those documents.

You may have a few transfer affidavits (and trust me the title companies and deed only attorney offices forget them).

My beef is why one would have to be retested annually. A TIL is a til and they have been in the almost 30 years I've been in the business.

Taking a an annual test is just putting $$$$ into someone's pockets, but it won't make me a better closer.

After watching the XYZ video somone posted last week, it's evident there is really no problem except for a few that don't dress properly and have chicken little syndrome with UPL. Those that have chicken little syndrome are not going to get over that to make a better closing.

The real problem is late docs, loan officers that don't ask if the borrower is married and getting proper working contact numbers for the borrowers.

Reply by CarolF/NC on 12/8/13 6:25pm
Msg #495528

Where is that LIKE Button? n/m

Reply by jba/fl on 12/8/13 7:09pm
Msg #495531

How about LO's that don't go over the HUD with the BO, especially when there is cash due. Why should I be the bearer of bad news? and be yelled at? You think $6K is chump change? not me.


Reply by Doris_CO on 12/8/13 8:52pm
Msg #495542

Julie, I agree. And I've been wondering if attorneys, title closers or escrow officers or those working for a bank have to be certified and background checked by any organization and do they have to be re-tested, whether it's every year or every four, five, etc. years.

Reply by Moneyman/TX on 12/8/13 11:26pm
Msg #495557

Similar discussion in '04 just ran across, XYZ only wants $$

...imo. Just as they prove with these current "certification" status, and tests, that they sold some lenders on "requiring, but they, the NNA, couldn't be bothered with ensuring a complete, worthwhile product, or even a truly educational and/or true & accurate knowledge based required test was available before they began charging, and collecting $$, from NSA's to fulfill their own self imposed Nov. 1 deadline.

"Taking a an annual test is just putting $$$$ into someone's pockets"

Bingo! All they need is one good year of people signing up originally, and overpaying for a useless "certification" status and "listings", mostly out of fear, then the renewals & annual BGC charges (or what some might call, residual income) is pretty much assured for XYZ. If they can get the majority of people to buy into their false, imo, marketing campaign this year, why would any of those people risk not paying them again next year? or the year after that?, etc.

Either the NNA is exposed for what it truly is now, or might as well go-along-to-get-along for years, imo. If the latte is chosen, then might I also suggest updating a job resume; if past involvement by XYZ in our industry is any indication, you'll be using that new resume sooner and more often than you may want.

If I remember correctly, Hugh once offered to "certify" anyone that would send him $5. That is how highly he thought of "certifications" from the likes of XYZ and the #'s site. Hugh's would probably be worth more than either of theirs, but only if Hugh actually signed the certificates himself and didn't stoop to using a stamp. At least with Hugh's, you would know who the money was going to. Smile

========
Here some post links to some conversations about NNA certification (and responses from the NNA) when it was still new, and just as useless, according to some in the thread. The whole thread is worth reading, imo.

Msg #4828 Sylvia_FL

"However, since the NNA took over NASA the standard of signing agents has dropped considerably. Areas are getting oversaturated. We have new signing agents coming from NNA seminars and asking basic notary questions, like What is a jurat? How will we know if a notary certificate is needed? They should know all this before becoming signing agents. And then, the NNA published their "fee guidelines" and now we have companies calling us that used to pay more that say they are now paying in accordance with the NNA guidelines."

And from the same post ...
"In the NNA Florida law primer, it is indicated that a notary may charge $10 per signature, however according to Fl law - and the SOS office - we can only charge $10 per seal, yet notaries are following the NNA primer and advertising $10 per signature.
A call to the NNA by one notary garnered the information that the NNA Florida primer was correct, and we can charge $10 per signature. I wish that was true!"


After a few attempts from Sylvia, this was the response from the NNA
Msg #4873 NNA Staff
"We very much appreciate all of your comments and feedback. We will carefully examine all members suggestions as is our custom.
Sincerely,
NNA Staff"

No, really, THAT was their first response in which they actually attempted to address the incorrect information! :-\ Certainly glad that I never personally attempted to rely on that organization for reliable and accurate information, even when I was a member.


Here is their 2nd attempt to address the inaccurate FL information. Hold on and get ready for a head spinning double talk session. Msg #4968

In part: "The Florida fee issue is, we admit, not as clear as it could be in our Florida Notary Law Primer. However, it is not incorrect. Florida law States that the Notary fee “may not exceed $10 for any one notarial act.” Our Primer indicates that the allowable fee is $10 per signature. Generally each signature constitutes a separate notarial act and requires separate identification of the signer and seal of the Notary. I a situation where two people – a husband and wife – sign one document, both individuals must appear before the Notary, and the Notary must identify each person separately, resulting in two notarial acts. When one person signs multiple documents, each requires a separate seal and signature of the Notary; again, these are separate notarial acts. Rather than a simple “per signature” statement, our Primer should – and will – state the fee is per notarial act. "


LOL PAW didn't appreciate their response as the information is INACCURATE in both the primer and their 2nd attempt at finally attempting to address the original inquiry. In a later post, he did inform them that overcharging in FL is grounds for a notary to lose their commission.


Msg #4971 PAW Notary Services

"I am in disagreement with your statement. When two people sign the same document, there is usually only ONE certificate, thus only ONE notarial act, thus only $10 charged. You suggest that a certificate is required for each signer, which is hardly ever the case (certainly not "generally"). It really doesn't make any difference if there are a hundred signers, if only ONE certificate is used, identifying all 100 signers, that is only ONE notarial act. It's the application of the stamp (seal) and signature that makes it an act, regardless of the number of people identified."

Again, the entire thread is worth reading and helps to prove, imo, that the NNA is no more concerned about protecting the public's private information and truly educating notaries today than it was in 2004. It is, imo, just as concerned today with getting as much money as it can from NSA's while at the same time doing what it can to destroy this part of the signing industry as it was back then.


Reply by MikeC/TX on 12/9/13 12:35am
Msg #495559

"Taking a an annual test is just putting $$$$ into someone's pockets, but it won't make me a better closer.

Not unless you somehow forgot all the stuff you knew a year ago... What are the chances of that?

I can ALMOST understand the requirement for a yearly testing and the BGC, but a friend who has worked in government told me that a "Secret" clearance is good for two years. What the heck are we doing that requires a BGC more often than a "Secret" clearance??

"The real problem is late docs, loan officers that don't ask if the borrower is married and getting proper working contact numbers for the borrowers."

One of the problems (and not the only one) is loan officers. Currently, in many states it could be a guy who was selling shoes a week ago. They need to be tested, certified by the state, and held to a standard of ethics.

That's what the SPW should be focusing on - the problems created by incompetents further up the food chain. Instead, we're being fed some BS about how the notary is the weak link in the chain, and how this association that CLAIMS to represent notaries will be happy to take your money to give you a useless certification that will do nothing to fix the basic problem.



Reply by EJC/LA on 12/9/13 9:02am
Msg #495569

Perhaps you don't, but La. do; after all, drafting documents IS what a La. notary does. That being said, I took the La. notary exam on Sat. and believe that I totally and UTTERLY failed the bloody thing (which shouldn't be a surprise given that the state was going for a 6% pass rate on that exam). Now I need to decide if I want to take another prep course and try again in the summer.

Reply by Darlin_AL on 12/9/13 10:59am
Msg #495589

Julie--correct! handled RE docs in several states,most same

info must be included for federal purposes. And some specific-state required items I've seen on a separate document. You are right on as far as the real problems/hangups.
Also, I hate the crappy ackn blocks some companies use w/only room for an ink stamp. Yes, I know I'm supposed to attach a loose cert to accommodate that. Should not have to on a cheesy form that has 2 affid on a single page. Turn their 1 page handy form into 3. But I am waiting breathlessly for the much-promised SA Input committee to get running, My guess is they'll have the exact same 10 comments/complaints from thousands of SA's.

Reply by Notarysigner on 12/8/13 6:26pm
Msg #495529

well what about Ohio? Where notary standards are

decided on the county level.

Reply by Claudine Osborne on 12/8/13 7:07pm
Msg #495530

Re: well what about Ohio? Where notary standards are

In Ohio in all counties the Notaries are goverened by the Ohio Revised Code..What differs in each county is how to obtain your commission!

Reply by TacomaBoy on 12/8/13 8:52pm
Msg #495541

NNA-SPW Guidelines

Well, if I understand the prpposed SPW Guidelines, we no longer need to know anything about dox. I read something in the Guidelines that says the Notary is prohibited from even looking at the dox; just read the doc title to the borrowers. Remember, we just need to follow the "script" and keep our mouths shut during the signing and everything will workout just fine. RIGHT?

Reply by MW/VA on 12/8/13 10:39pm
Msg #495554

Only if you buy into all their b/s! ;-) n/m

Reply by Notarysigner on 12/9/13 9:24am
Msg #495575

thanks Claudine for the clarification! n/m


 
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