Borrowers’ Information
Sheet and Checklist
Borrowers’ Information
Sheet and Checklist
Provided by: Brenda Stone – Notary Loan Signing Agent
Dear Borrower:
My phone number is 979-739-2690. More contact information is below.
The concept of a notary coming to a home is a new one to some folks. I have prepared this letter to make it clearer to you on how this works. If you have any questions, please contact me and I will try to direct you to the right person to answer your questions.
Here’s how the process works: I get an order from a lender or title company or notary signing service to come to your home and witness you sign your loan documents. If it is a refinance, reverse mortgage, home improvement loan, or certain types of home equity loan, we can sign the documents in your home.
Why my home?
Because you save money in closing costs by not signing in a title company when you do one of the above-mentioned loans.
What’s the notary's purpose while at your home or if we meet in another location?
First of all, I am a notary public in the State of Texas. I am also somewhat familiar with loan documents and can attend to the details of the signing to make sure we do it correctly. I can answer simple questions and tell you where to find most of the information you will want to know as long as it is within the documents and blatantly easy to understand. However, I am not an attorney or title company employee. I cannot interpret legal language. I cannot tell you with any certainty what you should expect out of your lender.
What’s the notary's "title" when she or he comes to my home to witness me sign my loan?
Most of the time I am referred to as an Independent Notary Loan Signing Agent.
I am an independent contractor of whichever company has hired me to accomplish your loan signing.. I do this type of work full time and work in this capacity for hundreds of national companies. I am not your closing agent or settlement agent. I only work for those folks as an independent contractor.
What will the notary want to know about the borrower?
I will ask you to provide certain identification documents so that I can property ID you for my Texas Notary Journal. I will ask you to sign it when we are finished.
What else will I, as the notary, want to know?
I will administer an oath, or ask you to affirm the truthfulness of your statements.
How about the documents?
I will bring the loan documents to your home, or you will provide them at the time I arrive at your home because they have already been shipped to you.
Sometimes, I receive your documents via FEDEX or UPS, or other overnight courier. Sometimes, I receive them through a download process from the internet and print them only moments before I come to your home, or appointment location for the signing of the documents.
What about a copy for me, the Borrower?
I will either bring you a complete copy before we sign, or you will have a copy before I get there. I will ask you not to open your package until I am finished with the loan package so that we do not get any documents confused between the copy and the original documents.
How long will this appointment take?
Usually about an hour. We will have about 75 to 150 pages of information to initial or sign and several of those will require notarization.
How do the documents get back to the lender?
I will overnight them via FEDEX or UPS, most likely. DHL is another carrier sometimes used. I will provide the folks I am working for with a tracking number and they are able to make sure I drop them ASAP after reviewing them again before doing so.
Who pays you, the notary?
Usually I am paid by the signing service or the title company through the closing costs collected in the closing costs on your loan. You have "paid" to have me paid before I get there.
How do I know you are a real notary?
My notary commission number is 00738231—6 and my commission expires 01/23/2008.
The name on my commission is B.S. Stone. You can contact the Texas Secretary of State to identify that you are dealing with a “real” notary. If you want to see my commission, it is at this link:
http://istone.net/notary/notary.pdf
BORROWERS: -----------Please read the following-----------------
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1. Have Picture Identification (& a copy of
it, if at all possible.)
Everyone who signs documents (buyers, sellers or people acting on their behalf) must have identification. A driver's license or a passport are the most acceptable. Believe it or not, "impersonation" claims cost our industry more than $1,000,000 per year. You really do need I.D.! I WILL HAVE MY DIGITAL CAMERA WITH ME TO PHOTOGRAPH YOUR ID IN THE CASE THAT YOU DO NOT REMEMBER, HOWEVER. IF YOU HAVE A COPY AND THAT WILL MAKE EVERYTHING EASIER!
IMPORTANT – If your name is not the same on your picture ID as the name you will be signing, please help me make this easier to do for you,
If you have an alias, or have changed your name since your driver’s license/picture ID was issued, please have a marriage license, birth certificate, or court papers such as a divorce decree available which will verify your current name as it will be on the mortgage refinance, reverse mortgage, HELOC, or home equity loan documents.
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2. Contact Information for the Notary –
Brenda Stone
Ph # 979-739-2690 (College Station & Bryan)
Ph# 877-829-8395 – eMail agent@texnotary.com
Fax # 877-548-2536 Keep my number handy income something comes up – call me and
let me know so we can make arrangements for everyone concerned.
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3. Attorney ?
If
you are doing a refinance, home equity loan, or a reverse mortgage you may want
to locate an attorney to look over your papers in the two days immediately
following the day you sign your loan
– on most loans signed in homes there is a 3 day period that you will have to
change your mind and rescind the loan. Ask me to show you the Notice of
Right to Cancel your loan first to verify this is true. The exception would
be in the case of a loan for investment property. I am not a lawyer, so please
do not take anything I say in regard to this as “fact.” You will know for
certain if you CAN cancel your loan within three (3) business days only if I
have the documents with me when I arrive that say this.
If you have already been working with an
attorney, please let your lender know. You and your attorney will
need time to review documents and closing figures, especially if your attorney
does not intend to come to the closing. Do not assume the lender knows an
attorney is involved. They will only contact an attorney and provide him/her
with documents after they have received your instructions. They respect your
privacy.
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4. No matter what, have your Spouse present!
Even if they are not signing the note!!
If you are refinancing property, and you are married, your spouse has certain
rights. To acknowledge or waive these rights, your spouse needs to sign certain
documents. If your spouse is not planning on
attending the closing, please let me know immediately – or better yet, contact
your lender!
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5. Children and Pets - Not a problem to me!!
I love animals and children. A document signing appointment generally takes an hour. Just be aware that cranky children can make it difficult to get through a signing. My son used to be very cranky at 5:00 pm – 6:00 pm each day. If the hour we are scheduled to meet is a bad time, please let me know, or contact your lender. I will work with you on the time to make it easier on you.
Keep the dogs and cats in the house—do not worry if they jump on me and greet me—just tell them not to bite me and we’ll be fine. I love my dog and would never put my dog out for a guest; she’s my family! I will enjoy meeting your children and pets.
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6. "Good Funds"…$ Closing Costs…
Either in the form of
a personal check or a Cashier’s Check may be due. Please try to find out from
your lender if you will owe funds before the day we meet. If so, you may need a
cashier’s check. I will try to let you know as soon as I see your documents,
however, I am only human and can overlook things. Also, I may get the documents
moments before our appointments. The best way to know AHEAD of time is to stay
in touch with your lender. Please talk to your lender if you are not sure there
will be $0.00 funds required.
c 7.Other documents I often need to collect a copy of, or information from…
c Copy of Homeowner’s or Hazard Insurance on your home or investment property
c Copy of one set of Property Tax Receipts
c Copy of Survey – You usually need the date of your survey and the surveyor if a
survey was not done for the new loan.
Thank you!!
Brenda Stone