Where do you, the Notary, fit in?

In order for you to understand the scheme of things and where you fit in, we offer you the following “anatomy of Loan.” This may help you to understand how important your job is and how many people depend on you to do your job right!

For a borrower to obtain a loan involves a lot of people in a lot of different jobs, each one dependent on the other to get a loan to funding and closing. Always remember that one mistake on your part could delay or cause a loan to cancel and everyone’s work will be wasted. 

Be accurate, be thoughtful, be professional!

1. Borrower applies for the Loan. (Loan Application also known as 1003)

2. The lender or mortgage company then begins to process the loan by collecting all of the information required to approve the loan. The Lender is the Bank, Credit Union, etc. The entity who will actually be loaning the money to the borrower. A Mortgage Company is the middle man who gathers all of the information for the lender to approve the loan. They do all of the leg work.

3. Underwriter who is responsible for reviewing all aspects of the request and either approves or disapproves the loan.

4. At some point, usually after loan has been approved, an escrow account will be opened either an escrow or title company.

5. The Title Company will initiate a search of public records to determine all of the information for the property in question. Reports where any and all recorded liens against the property will be disclosed which can include Deeds of Trust, Mechanic Liens, Child Support Liens, Judgments and any other type of lien affecting the property. 

6. After the loan is approved, the package goes to a Loan Processor who is responsible for preparing the documents for the borrowers to sign.

7. Notary Signing Service (Cynanotary)

8. We locate and assign a Notary

9. Now the documents are ready to be signed and the borrower is contacted to determine where and when the documents will be signed.

You are very IMPORTANT, many people depend on you to:

1. Handle the loan package with care and do your best be error free.

2. Work with the borrower to make the signing go smoothly and successfully, leaving a good impression behind. Often times you are the only face to face contact the borrower has in connection with their loan signing.

3. Keep the lines of communication open so that everyone involved is aware of where you are in the process of signing and where the documents are at any given time.

4. Make sure that the loan package is shipped per instructions as soon as it is possible and without delay. Double check your signing requirements for fax backs and lender stipulations.