NSA - Notary Signing Agent Post-Signing Procedures and Compliance Questions and Answers

Question 1

Immediately after a successful loan signing, the Notary Signing Agent realizes a minor clerical error was made on the notarial certificate of the Deed of Trust.
The document package has not yet been shipped.
What is the most appropriate next step for the NSA?

Accepted Answer

Correct the error according to state law, which may involve lining through the error, writing the correction, and initialing.

Answer

Contact the signers to schedule a time to meet again and execute a new Deed of Trust.

Answer

Ship the package as-is and wait for the title company to provide instructions on how to correct the error.

Answer

Ask the borrower to make the correction and initial the change themselves.

Question 2

A Notary Signing Agent is preparing to ship a completed loan package. The instructions from the contracting company do not specify a particular shipping carrier or method. Which of the following is the best practice for the NSA to follow?

Accepted Answer

Contact the contracting company to clarify their preferred shipping carrier and service level.

Answer

Use the least expensive shipping option available to save the contracting company money.

Answer

Drop the package in the nearest convenient drop box before the last pickup of the day.

Answer

Choose a major carrier like FedEx or UPS and select standard ground shipping.

Question 3

Which of the following actions is a critical compliance step for a Notary Signing Agent to take after returning from a signing appointment but before shipping the documents?

Accepted Answer

Reviewing every document for missed signatures, initials, dates, and completed notarizations.

Answer

Depositing the payment check from the borrower.

Answer

Invoicing the title company for the completed signing.

Answer

Making personal copies of key financial documents for their records.

Question 4

A borrower signs a Compliance Agreement during a loan closing. What is the primary purpose of this document that the Notary Signing Agent should be aware of?

Accepted Answer

It obligates the borrower to cooperate in correcting any future clerical errors found in the loan documents.

Answer

It confirms the borrower's compliance with all federal lending laws.

Answer

It is the borrower's formal application for the loan.

Answer

It serves as the borrower's final receipt for all fees paid at closing.

Question 5

Regarding the financial aspects of an assignment, what is a recommended post-signing best practice for a Notary Signing Agent to ensure timely payment?

Accepted Answer

Submit a detailed invoice to the contracting company promptly after the signing is complete and the package is shipped.

Answer

Only accept cash payments directly from the borrower at the signing table.

Answer

Wait for the contracting company to send a payment automatically, as invoicing is not standard practice.

Answer

Add your fee to the borrower's closing statement yourself before the signing.

Question 6

After completing a signing and shipping the documents, the Notary Signing Agent must handle the electronic copies of the loan package that were downloaded. According to the Notary Signing Agent Code of Conduct, what is the required action?

Accepted Answer

Permanently delete all electronic copies of the documents from their computer and any storage devices.

Answer

Archive the electronic files for a period of seven years for audit purposes.

Answer

Upload the electronic files to a secure cloud-based storage for their personal records.

Answer

Email a copy of the signed package to the borrower for their records.