Managing the Signing Assignment Flashcards

When an NSA cannot complete a signing because the borrower refuses to sign, this is referred to as:

Answer: An incomplete or 'did not sign' (DNS) appointment

Industry terminology for a borrower who refuses to execute documents is a 'did not sign' (DNS), which the NSA must promptly report to the hiring party.

Which statement is TRUE about an NSA's professional journal or record of notarial acts?

Answer: Maintaining a journal is a best practice and required by law in many states, providing a record if later questioned

Many states legally require notaries to maintain a journal, and even where not required, it is a critical best-practice defense if an act is later challenged.

A lender instructs the NSA to collect a certified check from the borrower at the signing table. If the borrower presents a personal check instead, the NSA should:

Answer: Refuse the personal check and contact the hiring party for guidance

The NSA must follow the hiring party's specific fund collection instructions; accepting an unapproved form of payment is outside the NSA's authority.

What is the correct procedure if a borrower asks to keep all copies of the loan package after signing?

Answer: Allow the borrower to keep one set of copies where permitted, but retain all originals for return to the hiring party

Borrowers are typically entitled to certain copies (e.g., the Closing Disclosure and RTC), but original signed documents must be returned to the hiring party.

An NSA is traveling to a signing and realizes they forgot their notary seal. The correct action is to:

Answer: Contact the hiring party immediately, explain the situation, and follow their instructions

Without the official notary seal, the notarization cannot be completed; the hiring party must be notified so they can reschedule or make alternative arrangements.

In a purchase transaction, which party typically schedules the NSA through the title company?

Answer: The lender, through the title company or directly

In most purchase transactions, the lender coordinates with the title company to schedule and fund the closing, and the title company typically engages the NSA.

What does the term 'table funding' mean in the context of a signing assignment?

Answer: The lender provides funds to the title company simultaneously with the signing so proceeds are available immediately at closing

Table funding means the lender wires funds to the title company on the day of closing so that the transaction and disbursement occur at the same time.