Explanation: Note that a Notary Signing Agent has the role of assisting borrowers understand the document agreement for the loan. In other to provide such helpful like pointing out places for them to sign etc they’ll need to learn about all the closing documents in the loan package.

When confirming an appointment to sign documents with a borrower, the Notary Signing Agent should: Confirm that acceptable identification will be available during the Signing Appointment. The Notary Signing Agent has commenced a loan signing with a borrower and the borrower’s mortgage broker.

Why Notary Signing Agents Must Not Explain Loan Documents Contracting companies want to ensure NSAs do not misdirect the borrower, or worse, create a legal liability for the contracting company or lender. If you cross the line in explaining documents, the contracting company will likely not hire you again.

The process of raising cash periodically through successive cash-out refinancings. This is a scam initiated by mortgage brokers that victimizes wholesale lenders, with the connivance of borrowers.

The Housing Payment Documents The Notice of First Payment and the amount due are disclosed to the Buyer, inclusive of the breakdown of Principal and Interest payments and required Escrow Account payments for future real estate taxes and various insurance premiums.

Three Loan Documents You’ll Want to Know

• The Loan Estimate. The Loan Estimate, or LE for short, is a form that you’ll receive after applying for your home loan.
• The Closing Disclosure. The Closing Disclosure, or CD for short, is a form that is very similar to the Loan Estimate.
• The Note.

What’s not included in your monthly mortgage payment? Utilities, homeowner’s association fees, and condo association fees are not included in the mortgage payment that you pay to the lender.

Basic Steps to Building Credit

• Step 1: Get a job. Your employment status doesn’t directly impact your credit; it’s not one of the five key factors that influence your credit score.
• Step 2: Borrow money either by taking out a loan or opening a credit card.
• Step 3: Pay and wait.

Keep Your Credit Card Balances Low The higher your credit card balance in relation to your credit limit, the worse your credit score will be. Your combined credit card balances should be within 30 percent of your combined credit limits to maintain a good credit score.

6 Reasons You Want a Good Credit Score

• Significant Savings on Interest Rates on Big-Ticket Loans.
• Better Terms and Availability on Loan Products.
• Access to the Best Credit Cards.
• Insurance Discounts.
• More Housing Options.
• Security Deposit Waivers on Utilities.

Why Did My Credit Score Drop?

• You Have Late or Missing Payments.
• You Recently Applied for a Mortgage, Loan or New Credit Card.
• Your Credit Utilization Has Increased.
• One of Your Credit Limits Decreased.
• You Closed a Credit Card.
• There Is Inaccurate Information on Your Credit Report.