NSA Managing the Signing Assignment 2

Question 1

When a signing agent receives a loan package and discovers several documents are missing, what is the correct first step?

Accepted Answer

Contact the title company or lender immediately to report the discrepancy

Answer

Proceed with signing the available documents and note the missing ones

Answer

Cancel the appointment and inform the borrower

Answer

Ask the borrower to sign blank spaces where missing documents would go

Question 2

A borrower asks the NSA to explain whether a particular loan term is favorable for them. The NSA should:

Accepted Answer

Decline to answer and suggest the borrower call their lender

Answer

Provide an honest assessment based on current market rates

Answer

Explain the term as written in the document without giving an opinion

Answer

Refer the borrower to a financial advisor and postpone signing

Question 3

What does 'confirmation of appointment' typically require an NSA to verify before traveling to a signing?

Accepted Answer

The appointment time, location, contact information, and document delivery method

Answer

That the borrower has already reviewed all documents online

Answer

That the loan has been fully funded by the lender

Answer

That the title company has received the signed deed of trust

Question 4

If a borrower is unavailable at the scheduled signing time due to an emergency, the NSA should:

Accepted Answer

Contact the hiring party to report the situation and await instructions

Answer

Leave the documents with a household member to sign later

Answer

Wait up to two hours and then return the package unsigned

Answer

Reschedule directly with the borrower for the next available slot

Question 5

Which of the following best describes the NSA's role regarding the Right to Cancel (Notice of Right to Rescind)?

Accepted Answer

Ensure the borrower receives the required number of copies and signs the acknowledgment

Answer

Explain the rescission window and advise the borrower whether to cancel

Answer

Determine whether the loan is subject to the right of rescission

Answer

File the rescission notice with the county recorder if the borrower wishes to cancel

Question 6

When shipping a completed loan package back to the title company, the NSA should:

Accepted Answer

Use the shipping method and carrier specified by the hiring party

Answer

Use the least expensive shipping method available to keep costs low

Answer

Retain copies of all documents before shipping

Answer

Ship only the notarized documents and leave unsigned copies with the borrower

Question 7

An NSA notices a discrepancy between the borrower's name on the identification and the name printed on the loan documents. The correct action is to:

Accepted Answer

Note the discrepancy and contact the hiring party for guidance before proceeding

Answer

Notarize the signature using the name on the ID only

Answer

Allow the borrower to sign both names on each document

Answer

Strike through the incorrect name and write the correct one before notarizing