Posted by Amy Cox on 6/2/13 9:26pm
Msg #472040

Newbie loan signer question

I am a new notary....question:
In California are we, as notaries, required to stay present through the entire loan signing if it is done in a bank with the bank's closer? A bank next-door to where I work asked me to just notarize the docs needed to be notarized & then I can leave. If they are explaining & going through the all the docs with the clients, do I really need to stay through the whole thing? Their underwriter mentioned to the loan closer that I was suppose to stay through the whole thing...is this a CA law, or just the underwriter's rule?

Reply by kathy/ca on 6/2/13 9:42pm
Msg #472043

Not CA law that you be there through anything but the

notarizations. If you can stick around, since you are a new notary it might be a good learning experience for you.

Reply by Marian_in_CA on 6/2/13 9:44pm
Msg #472045

Nope, not CA law. A notary is there to NOTARIZE signatures. That's it. If you're no longer needed, there's no reason to stay.

Reply by Teresa/FL on 6/2/13 9:47pm
Msg #472046

If you are being hired only to notarize, then you are not obligated to sit through the signing of the other docs.

If you are being hired as a signing agent, then you are overseeing the signing of all docs in the loan package, not just the notarized one.

From the information in your post, the underwriter seems to be under the impression that you are being hired to conduct the entire signing, but the bank personnel have told you they only want you to notarize and leave. The bank personnel need to clear this up with the underwriter.

It's not a law, just get clarification regarding what role you are being hired for.

Reply by Amy Cox on 6/2/13 10:07pm
Msg #472048

It's been made clear by bank personnel I am there ONLY to notarize, which I agreed to and I am being paid by the bank. My thoughts were that if the underwriter has other expectations, that is between the underwriter and the bank, not me. I just wanted to make sue I was not obligated or would not have any reprecussions if I did not stay. I am FINE with not staying! However, yes, it would be very informative for me, but I'm taking a break from work to run next-door & do it. I made $80 in about 20 minutes, so that's FINE with me!! They asked me to come back & do another one Monday & that's when she mentioned the underwriter's expectations. I just wanted to make sure I was not liable for anything other than the notarizations, if that's all I'm hired for by the bank.

Reply by Linda Juenger on 6/2/13 10:38pm
Msg #472051

Although I have almost 8yrs exp, I like sitting through listening to the LO closing the loan. I seem to learn something every time. Times have changed, rules have changed. Just last week I sat through a purchase/loan and I just notarized the docs that needed it. After it was finished and the borrowers had left, I sat and had a short chat with the LO. Learned quite a bit about the new rules coming into play with PMI.

Play it by ear and if you can tell they want you to leave or tell you that you are finished, then leave. If not, stick around, you will learn something new.

Reply by Buddy Young on 6/2/13 11:22pm
Msg #472053

Re: good question, nicely answered. n/m

Reply by Amy Cox on 6/3/13 12:57pm
Msg #472082

Re: good question, nicely answered.

Thank you everyone!!! I will stay at some point, if one is ever done later in the day when I'm almost off work or after work...but right now I'm just running next door to get the signatures done. Since I have never done a loan signing, I DO want to sit in on one.

Thanks again!!

Reply by Luckydog on 6/3/13 2:20pm
Msg #472092

Re: good question, nicely answered.

Since you are hired as the "Signing Agent" I would be present throughout the entire closing. If you are the one to drop the package back, it is def. a yes. Do not let them just run all over you, and take control. Even though you may not be conducting the closing, I would be professional and be present, and at least learn what they say and do. They come back and ask how you were, and if they say you never stayed, does not look good on your part. One thing in this business, no matter who you close with, attorneys, bank loan officers, you must stay in control of YOUR signing, and be proud and sit at the head of the table. Do not let them intimidate you, this is your profession, and they hired you to close.

Reply by jba/fl on 6/3/13 3:11pm
Msg #472097

She was hired to notarize only by the bank.

Since they are paying her, that is what she does and then leaves.

As for the underwriter, the bank needs to clarify that, not the notary who was hired by the bank. Theresa hit the nail on the head regarding that.

Anything else the notary does is by choice, and if the bank allows her to learn the SA role, then she will just increase her worth.

Reply by MW/VA on 6/3/13 6:35pm
Msg #472110

That's a nice gig, IMO, Amy. You just show up for the

notarizations, are paid by the bank, and leave. It almost beats the job of NSA's, who have to print, review the entire pkg., etc., etc. I think you're fortunate to be able to do that from your job, and are making some nice money at it. Good for you! GNW is more lucrative in CA, where the fee is $10/notarization.