What to expect on a Closing day?
Updated: Apr 24, 2022
Who is a Notary Signing Agent (NSA)?
A Notary Signing Agent is an independent contractor hired by a lender, escrow, the title company or the signing agency to assist in the closing process.
Notary confirms the date and location of the signing with the lender or title company or signing agency.
Notary also goes through all the instructions provided by the lender or title company.
Notary perform certain notarial acts and any detailed questions regarding the documents need to be clarified with the lender or the title agency.
Notarization is a process in which assurance is given by the Notary about the Notarial act performed that the documents are authentic, signature is genuine and the signer acted without duress or intimidation according to the National Notary association.
Setting up an appointment
The notary calls the signer to introduce themselves and confirms the date and location of the signing process to be held as per the signer's convenience.
Confirm with the signer that they will need to provide ID of the signers and a photocopy of the ID if requested by the lender, escrow or title agency.
Inform that the signers to go through the documents sent as PDF by the title company to make sure they they understand the documents that need to be signed.
If there are any doubts, it can be cleared with the lender or title agency to make sure the closing process goes smoothly.
Clarify the role of Notary
The role of Notary is to Print or Pickup all the documents required for the signing.
Explain the process of signing, how the Name, Signature or date has to be signed or written.
Confirm and check the ID of the signers.
Execute, collect data, certify and record the documents.
Detailed questions regarding the documents need to be clarified with the lender or the title agency.
Notary is a third party independent contractor and are hired by the Title company, Signing agency or lender to perform certain notarial acts and any detailed questions regarding the documents need to be clarified with the lender or the title agency.
Execution of Documents
Documents are executed according to the lender or title agency's instructions.
Ask the signer's to verify Loan amount, Interest rate, term of the payment and monthly principal and interest in the Closing Disclosure
Ask the signers to verify the escrow account that includes the property tax, insurance etc and show them the monthly mortgage.
Ask the signers to go through the itemized closing costs to cash to close amount.
Collect any funds to be collected if instructed by the lender or title company.
The information of the Signer's ID and the notarial acts performed are recorded on the notary journal.
The Notary Journal includes all the details such as the Date, Type of Notarization, Type of document Notarized, the signature of the signers, Details of the ID, and any fingerprint needed if the document notarized is a Deed, Power of Attorney etc.
Once the signing process is complete, Notary gives the signer's a copy of the documents if instructed and verify & make a final review of the signed copy of the documents to make sure everything is complete.
Once the process of signing is completed, the notary informs the title company or the signing agency about the completion of the signing process.
Notary returns all the documents by dropping off the package via FedEx or UPS and scanning back the documents as instructed.