The Complete Handbook of Loan Documents and Transactions

by National Notary Association

Book Overview

No Synopsis Available.

• Format: Paperback
• Language: English
• ISBN: 159767012X
• ISBN13: 9781597670128
• Release Date: January 2005
• Publisher: National Notary Association
• Length: 557 Pages
• Weight: 3.30 lbs.

Customer Reviews

Loan Documents and Transactions

This book has been very helpful for those rare documents you don't often find in everyday loan signings.

An excellent guide for notary signing agents

This is a handbook for the notary signing agent, although consumers will find it helpful too in understanding the loan documents that they will be signing at the closing. The title accurately describes it because it is complete. There is a wealth of information in it on practically every type of transaction that a signing agent will be involved in. It begins with a chapter on refinance loans, the most common type of transaction for signing agents. It provides samples of the more common documents that you will see in a loan package, and gives an explanation of them. What I found especially helpful is that there are small notes attached to some of the documents that give a more detailed explanation. When you're in a closing, you feel confident about your knowledge of the documents that you are presenting to the borrower. Chapter 2 covers home equity lines of credit. It's a much shorter chapter, since HELOCs don't contain as many documents as a refinance. Just as in Chapter 1, it does a good job of explaining the documents. There's even a lot of helpful information for the borrower. Chapter 3 is the chapter that really made me glad that I purchased this book. When I was called to do a Reverse Mortgage closing for the first time, I referred to this chapter. It gave good explanations of the documents, why there are 2 Deeds and 2 Notes, etc. As with the previous chapters, it gives samples of the documents that you will find in a reverse mortgage loan package, with notes attached containing more details Chapter 4 covers purchases and sales. It too helped me when preparing to do a purchase transaction for the first time. It gives good explanations of the documents on both the buyer's and seller's side of the transaction. And the notes attached to the documents were very helpful. It was a real confidence builder to have this type of information. Chapter 5 will come in handy for any signing agent involved in a commercial transaction. The rest of the handbook is devoted to the various forms and affidavits. It covers the more common types of transactions, and some that are not so common. I modified my copy of the handbook and had holes punched in the pages so that I can have it in a ring binder. That way I can add additional notes and documents. There are some that are specific to Colorado that I wanted to add. Regardless of what type of class or course of instruction a notary signing agent took, whether you are just getting started as a notary signing agent, or have been one for years, this is an excellent and essential handbook. I would highly recommend it.