It’s no secret that the loan signing process can be complicated, there are a lot of steps, and even the simplest mistake can delay things or create legal problems. However, as Notary Signing Agents, we know that errors can cause severe issues for all parties involved. Fortunately, information is power, and understanding inevitable typical blunders might help you avoid them in the first place. Below are the most typical loan-signing mistakes so you can prevent them. Then, during your subsequent loan signing, know what to look for to stay safe and efficient!
Notary Loan-Signing Agent Mistakes
Below are the common mistakes made by notary signing agents so you can avoid them.
1. Something Is Missing
Some item is missing, whether the borrower forgot to sign, you forgot to sign, you forgot to stamp, or someone forgot to date. When you’re in a hurry or the conditions around the signing are unpleasant, it’s possible to miss something. Before signing, go over the documents and note anything unexpected or easily overlooked. Before you go, double-check your work to ensure you haven’t forgotten anything.
2. The Notary Stamp Is Illegible
It’s vital to ensure your loan signing is readable. First, check to see if your stamps are inked. If you’re going to use an embosser, make sure it meets state requirements. Many states now require embossers to employ ink so that the seal can be read when the document is scanned. In addition, more and more counties enable electronic recording in today’s world, and lightly inked seals or embossed seals don’t cut it. Rejecting a document for recording may result in funding delays and missed deadlines.
3. There Is No Identification On The Patriot Act Form
Every lender is unique. Some only require one form of identification, while others demand two. However, it is critical to read the form to validate the number of necessary documents. Also, make sure you know what kind of identification the lender accepts. Nobody likes to return to a borrower’s house to verify the second piece of identification.
4. The Acknowledgments Are Incorrect
When handling out-of-state signatures, inform your customer about the differences between what your state requires and what the other state where the property is situated requires. Simply adding your state’s acknowledgment could result in complications, particularly when filing the mortgage or deed of trust.
5. Not Adhering To Instructions
There aren’t any two signing firms, title companies, or lenders alike. Some people prefer faxed responses, while others do not. Some people require two kinds of identification, while others do not. Some people prefer blue ink, while others prefer black. Some people like legal documents, while others prefer letters. Never assume you know what they’re looking for in the long run. You must read and follow their instructions strictly. Always ask questions and keep track of who you speak with if there are any differences afterward. Consumer service entails providing the service that the customer has requested.
Frequently Asked Questions
What Is A Notary Public?
A notary is a state-appointed person who acts as an impartial witness to safeguard parties against fraud when they sign documents. They have the authority to notarize various documents, including acknowledgments, copies, oaths, affirmations, and signature witnessing. To put it another way, a notary is someone who ensures that documents are signed correctly and by the appropriate parties. You’ll need a notary to make some legitimate and legally binding documents, such as the papers you’ll sign at closing.
What Is A Notary Signing Agent?
A fully commissioned Notary Public specializing in presiding over the execution (signing) of loan paperwork is known as a Notary Signing Agent.
Why Is It Necessary To Have A Notary Loan Signing Agent?
Notary services are essential to avoid fraud and authenticate documents’ legitimacy and data. NSAs are necessary during the home loan closing process since they help document changes in real estate titles and validate the names of home buyers. The NSA’s function is to guarantee that the proceedings are free of fraud and coercion and administer oaths to the parties informing them that their statements are made under penalty of perjury. If the property is acquired and sold again, their services can help ensure that there are no title flaws or ambiguities in the future.
Affordable Notary Services
Loan signings are a common occurrence for notaries, and it’s essential to be aware of the most common mistakes made during these signings. By being aware of these blunders, you can avoid them and ensure that the signing goes smoothly for all involved. If you need assistance with loan signings or any other notary services, don’t hesitate to call Rainbow Notary And Nuptials Wedding Officiants today. We’re here to help you get the job done right.
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Rainbow Mobile Notary And Nuptials Wedding Officiants
491 West Forsyth Street, Suite 2, Jacksonville, FL 32202