These days, finding a signing agent to close your client’s loan is easier than ever before. New technology has placed a premium on speed and convenience. You can get a signing agent in just minutes. But is your transaction in good hands? In this blog, we would like to highlight some common signing agent errors and show how Bilingual Notary Network avoids them.
Not Reading Instructions
Loan signing orders come in all shapes and sizes. It’s rare that no instructions are included, but sometimes there are more than one set of instructions, which can be confusing.
Our signing agents are trained to carefully review instructions several times to make sure they understand what’s required, and then promptly ask for clarification if necessary.
The process at BNNServices is to assess the order, the client, and the product being transacted in order to find the right agent for the job to ensure it’s being handled by a trained professional with relevant experience.
Missing Documents
Missing documents are the scourge of real estate closings. We carefully review all printed documents to ensure that each file is complete prior to closing.
Missing Signatures or Initials
In a loan closing package that can total up to 300 pages, there are numerous areas that require signatures and/or initials and numerous opportunities for omission. Again, this goes back to selecting the right person for the job. Our signing agents have familiarity with the products they are transacting.
Incorrect Signatures or Initials
Loan closing packages contain documents from multiple entities, some from lenders and others from title companies. Required signatures and or initials vary depending on the document in question. Our signing agents are trained to note signature/initial variations and communicate them to the signers and are trained to contact the hiring party whenever in doubt. We make sure that all documents are signed and initialed correctly.
Incorrectly Completed Notarial Certificate
Correctly completing the notarial certificate is a basic notary responsibility, but some notaries begin accepting assignments before they have it mastered. Our notaries follow the applicable Notary Public laws in the 50 jurisdictions where we provide loan and document signings.
Illegible Notary Stamp/Seal
In most jurisdictions, the notarial seal in its entirety must be legible. We make sure our signing agents follow required procedures for affixing the notarial seal and property stamp documents being notarized.
Overbooking
It’s tempting to squeeze in extra appointments, but many things can happen that throw a schedule out of whack. We ensure that our signing agents have the appropriate amount of time in their schedules to conduct the signing while answering questions and providing a great experience for the signer. We always allow time for the unexpected.
Lack of Communication
Our job as the signing agent is to keep lines of communication open during the closing between the borrower and the title company and the borrower and the lender. We are responsive throughout the lifetime of the closing, touching each file between eight and nine times to ensure every step of the closing has been completed.
Providing Opinions or Advice
Signers frequently ask signing agents their opinion about the interest rate, if the rate is normal, and if they would sign the document. An inexperienced signing agent is likely to answer these questions and unwittingly commit an unauthorized practice of law.
Our signing agents know their role is to facilitate communication, to ensure that the documents are signed correctly and to ensure that the signers are properly identified — not to advise the signer about whether or not they got a good deal.
Lack of Professionalism
Our signing agents are seasoned professionals who bring the appropriate level of professionalism to each transaction. We understand the important role we play in life’s big moments — mortgages, college loans, etc. — and we act the part.
A Better Way to Close with BNNServices
Since 2008, BNNServices has been trusted by title agencies, mortgage lenders, servicers and consumers to perform loan and document signings in multiple languages across the country.
Unlike other signing services, BNNServices “touches” each and every file 8 or 9 times to ensure the process moves forward free of delays. That’s why we’ve completed over 250,000 signings in all 51 jurisdictions and maintained a closing ratio of 96 percent.
Ready to experience the BNNServices difference? Get started today!