NSA Managing the Signing Assignment 2 — Questions and Answers
Question 1: When a signing agent receives a loan package and discovers several documents are missing, what is the correct first step?
- Proceed with signing the available documents and note the missing ones
- Contact the title company or lender immediately to report the discrepancy (Correct answer)
- Cancel the appointment and inform the borrower
- Ask the borrower to sign blank spaces where missing documents would go
Correct answer: Contact the title company or lender immediately to report the discrepancy
The NSA must notify the hiring party immediately when documents are missing so corrections can be made before or during the appointment.
Question 2: A borrower asks the NSA to explain whether a particular loan term is favorable for them. The NSA should:
- Provide an honest assessment based on current market rates
- Explain the term as written in the document without giving an opinion
- Refer the borrower to a financial advisor and postpone signing
- Decline to answer and suggest the borrower call their lender (Correct answer)
Correct answer: Decline to answer and suggest the borrower call their lender
NSAs must direct borrowers' substantive loan questions to the lender, as giving advice constitutes unauthorized practice of law or financial advising.
Question 3: What does 'confirmation of appointment' typically require an NSA to verify before traveling to a signing?
- That the borrower has already reviewed all documents online
- That the loan has been fully funded by the lender
- The appointment time, location, contact information, and document delivery method (Correct answer)
- That the title company has received the signed deed of trust
Correct answer: The appointment time, location, contact information, and document delivery method
Confirming the appointment details—time, location, contact, and how documents will arrive—prevents unnecessary trips and ensures a smooth signing.
Question 4: If a borrower is unavailable at the scheduled signing time due to an emergency, the NSA should:
- Leave the documents with a household member to sign later
- Wait up to two hours and then return the package unsigned
- Contact the hiring party to report the situation and await instructions (Correct answer)
- Reschedule directly with the borrower for the next available slot
Correct answer: Contact the hiring party to report the situation and await instructions
The NSA must report the failed appointment to the hiring party who will decide how to proceed, not make independent rescheduling decisions.
Question 5: Which of the following best describes the NSA's role regarding the Right to Cancel (Notice of Right to Rescind)?
- Explain the rescission window and advise the borrower whether to cancel
- Ensure the borrower receives the required number of copies and signs the acknowledgment (Correct answer)
- Determine whether the loan is subject to the right of rescission
- File the rescission notice with the county recorder if the borrower wishes to cancel
Correct answer: Ensure the borrower receives the required number of copies and signs the acknowledgment
The NSA ensures the borrower receives the correct number of copies and signs the acknowledgment form; interpreting or advising on rescission is outside the NSA's scope.
Question 6: When shipping a completed loan package back to the title company, the NSA should:
- Use the least expensive shipping method available to keep costs low
- Use the shipping method and carrier specified by the hiring party (Correct answer)
- Retain copies of all documents before shipping
- Ship only the notarized documents and leave unsigned copies with the borrower
Correct answer: Use the shipping method and carrier specified by the hiring party
The NSA must follow the hiring party's specific shipping instructions, including carrier, service level, and tracking requirements.
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:
- Notarize the signature using the name on the ID only
- Allow the borrower to sign both names on each document
- Note the discrepancy and contact the hiring party for guidance before proceeding (Correct answer)
- Strike through the incorrect name and write the correct one before notarizing
Correct answer: Note the discrepancy and contact the hiring party for guidance before proceeding
Name discrepancies must be reported to the hiring party before the NSA proceeds, as corrections require authorization from the lender or title company.
NSA Managing the Signing Assignment 2
When a signing agent receives a loan package and discovers several documents are missing, what is the correct first step?