Common Loan Documents
This document shows all the settlement charges involved in your loan. It is self-explanatory. Please take time to look over the numbers.
Notice of Right to Cancel
This document allows borrowers to cancel the loan within three days from today. Please note the date [point to the date]. In other words, you can sign today and change your mind if you are not happy with something that you read in the documents later tonight. That way, you will not feel pressured to read every single word of the documents during this appointment. The lender requests that you both sign three of these. I will keep one; you will each keep two signed copies. [Whether it is necessary for all three copies to be signed at the table is another issue that is hotly debated by notary signing agents. Please ask your hiring entity if you are unclear.]
3-Deed of Trust or Mortgage – This document is also called a “security instrument.” It gives the lender an interest in your property; it will be recorded in the public (or real estate) records. (Notarize.)
4-Promissory Note or Real Estate Note – The note states how much you have borrowed [point to it], the length of time that you have to pay it back [point to it], and the interest rate [point to it].
5-Initial Escrow Disclosure – This discusses your escrow account.
6-Truth in Lending Disclosure Statement – This explains all costs of your loan.
7-1st Payment Letter – This explains when your first payment is due.
As noted above, the order of presentation of the remaining documents do not matter.
Uniform Residential Application – This is the application that you filled out at the beginning of your loan. You are requested to sign it again to confirm that it is accurate.
APR & Finance Charge Summary -- This explains the cost of your loan.
Itemization of Amount Financed Borrower(s) – This explains the amount financed.
Borrower(s) Acknowledgement of Receipt of Disclosures – This document says that you acknowledge receiving applicable disclosures.
Attorney Representation Notice – This document explains that the attorney who drew the documents does not work for you; he or she works for the lender.
Borrower Affidavit – Please review and state if you swear (or affirm) to the truthfulness of the contents of the document. (Notarize.)
Borrower's Closing Affidavit Borrower - Please review and advise if you swear (or affirm) to the truthfulness of the contents of the document. (Notarize.)
Certification and Authorization to Release Information – This describes when the lender may have to release information about you, the borrower.
Document Correction Agreement – This says that you will work with the lender to provide any additional information or funds required, if any, to complete the loan package. (Notarize.)
Error & Omissions/Compliance Agreement - You will work with the lender to provide any additional information requested to complete the loan package. (Notarize.)
Limited Power of Attorney/Correction Agreement – This is another document that allows correction of the documents for clerical or scrivener’s errors. (Notarize.)
Name Affidavit – This document lists names that you have been known as. Please sign as stated by names that you have been known by. Do not sign by names that do not apply to you. If it does not apply to you, you may want to complete the blank with a couple of words that explain that. (Notarize.) [Note that whether or not a signature is required on this type of affidavit varies significantly.]
Notice of Assign, Sale or Transfer of Servicing Rights – You understand that this loan may be sold or assigned to a loan servicer.
Notice of No Oral Agreements – This says that there are no oral agreements between parties that are not documented in the loan documents.
Collateral Protection Insurance Notice - You understand that you must keep the property insured.
4506-T Cover Sheet – You agree that the lender may collect a copy of your tax return from the IRS.
Form 4506 -- You agree that the lender may collect a copy of your tax return from the IRS.
Patriot Act Form – This relates to identification of the borrowers. It is required.
Signature Affidavit – This document lists names that you have been known as. Please sign as stated by names that you have been known by. Do not sign by names that do not apply to you. If it does not apply to you, you may want to complete the blank with a couple of words that explain that. (Notarize.)
Below are documents that may be called “title documents.”
Marital Status Affidavit – This document requests that you swear to information about your marital history. (Notarize.)
Refinance Affidavit – In this document, you confirm information about the property related to your loan. (Notarize.)
Survey Affidavit – This document relates to facts about your current property survey. (Notarize.)
Affidavit of Debts and Liens – This document makes statements about liens that you may have on the property that relates to your loan. (Notarize.)
Homestead Affidavit – This says that you state this is your primary home, your homestead. (Notarize.)
Loan Signing Fees
Refi - 1st Loan Package $125
Refi - 2nd Loan Package $100
Purchase / Buyer Package $125
Seller Package $100
Loan Modification $75
Reverse Mortgage $175
E-docs (up to 150 pages) $25
Scanbacks (up to 50 pages) $25
Loan signing fees are billed at a flat rate and includes document preparation, printing of both lender and borrower docs if E-docs, presentation of documents to the borrower, and all signatures and notarizations.
Travel fees are additional and based on signing location zip code (Zone 1, 2, 3, or 4).
Delivery to Fed Ex or UPS overnight courier service with airbill or account number provided by Client, is also included in my mobile notary (LSA) loan signing agent services.