Mobile Notary Locations

In my seventeen years of providing mobile notary services, I have had an opportunity to go to many locations and places!
As a Mobile Notary and Loan Signing Agent, I will travel to wherever the client needs me. I often go to offices and places of business, being that working professionals are unable to leave their location. One day I entered into a studio design company in which the signer had just won an Oscar for costume design! I had the pleasure of notarizing his documents, then got a personal tour of his artwork that had appeared in multiple movies.

At another mobile notary location, I walked into the company office and there were giant statues of apes and dragons everywhere. The signer of the documents was a famous special effects designer from Japan. Not only did I have an opportunity to notarize his business documents, he spoke with me about his life, and how he built his company.

As a mobile notary, I often go to nursing homes and hospitals. People in hospitals often need a Power of Attorney or an Advanced Health Care Directive notarized. Whenever I have to travel to such locations, I always make it a point to make the signer of the documents and family members feel comfortable and relaxed, given the situation at hand.

Often people who are in jail or prison will need their documents notarized. My role as a mobile notary is vital in these types of situations. People in jails or prisons often need a Power of Attorney or forms pertaining to marriage when incarcerated notarized.

One holiday season, the signers requested that I meet them at the mall to sign the loan documents. So in between their holiday shopping I notarized their loan documents. It was a beautiful atmosphere to notarize escrow documents.
As a mobile notary, I’m happy to come to your location, wherever that might be.

Reverse Mortgage

In my Mobile Notary and Loan Signing business I often come across various types of loans. A reverse mortgage, also known as the home equity conversion mortgage (HECM) is available for homeowners 62 or older. These types of homeowners have accumulated home equity and want to use this to supplement retirement income. Unlike a conventional mortgage, there are no monthly mortgage payments to make. However, the borrowers are still responsible for paying taxes and insurance on the property and must continue to use the property as a primary residence for the life of the loan.

Some basic information and facts about reverse mortgages are: A reverse mortgage is a loan made by a lender to a homeowner using the home as security or collateral. With a traditional mortgage, the homeowner uses their income to pay down the debt over time. However, with a reverse mortgage the loan balance grows over time because the homeowner is not making monthly mortgage payments.

A reverse mortgage loan typically does not require repayment for as long as the borrower(s) continues to live in the home as the primary residence, pays property taxes and insurance, and maintains the home according to the Federal Housing Administration (FHA) requirements, or until the last homeowner has passed away or has moved out of the property. The amount of equity you can access with a reverse mortgage is determined by the age of the youngest borrower, current interest rates, and the value of the home.

One of the best features of the HECM program is that borrowers are given a great deal of flexibility in how they receive the proceeds of the reverse mortgage. There are many options one can utilize regarding their proceeds.
One can withdraw a lump sum of cash when the loan closes. One can receive a monthly annuity for as long as the borrower lives in the house. One can be eligible to receive a monthly annuity for a set period of time that is chosen by the borrower. Another option is the borrower can take out a credit line that will grow with time and can be used when the borrower would like.

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Out-of-State Loan Signing Documents

In my Mobile Notary and Loan Signing business I often come across loan documents from out of state. Recently, my Loan Signing Services were requested on loan documents that originated from South Carolina.

The signers were very nervous about the documents and were under a time crunch to sign everything. When one of the signers called and needed my loan signing services, she contacted me because she wanted someone who had experience with out-of-state loan documents. I was able to reassure her that I would be able to guide her through the documents and the loan signing would be done properly and on time.

While performing the loan signing I came across many documents that differ greatly from California documents. While notarizing the documents I will always triple check my work. If I ever have a question I will contact the Lender or the Escrow Officer. Due to the fact that loan documents are of a time-sensitive nature and documents must be perfect so that the County Recorder can record the documents on time, it is imperative that no mistakes are made.

While performing the loan signing, there was a document that I had never seen! The signers had to call the Escrow company with a question and I took the opportunity to get any questions that I needed answered regarding the loan documents. Boy, was I glad that I asked my question. It turned out, that the Escrow and Title company wanted their out-of-state documents sealed and notarized and also a California Acknowledgement or California Jurat notarized and attached to the loan document. This procedure is not a common practice for loan signing agents in California. If the loan document is from another state and doesn’t have proper notarial verbiage, a California Acknowledgment or Jurat must always be attached. The original document would not need to be notarized. However, the Title and Escrow company in South Carolina had different requirements. I followed their notarial requirements and the signers where able to close on time! Off to South Carolina they go!

Information on APR

The Annual Percentage Rate (or APR) is the total rate of interest on your loan amount that you’ll pay annually (averaged over the full term of the loan). APR is the annual cost of a loan to a borrower including fees. APR is expressed as a percentage like simple interest, however, it includes other charges or fees such as, loan origination fees, private mortgage insurance (PMI) most closing costs, discount points, etc.

One might ask what are discount points? Discount points are an upfront fee that you pay to the lender at the time you obtain your loan in order to lower the interest rate over the life of the loan. It is a means of buying down an interest rate on a loan. One Discount Point = 1% of the loan total. For example, One point on a $500,000 loan = $5,000.

Because APR includes fees, it’s a more comprehensive measure than interest rate alone. APR is typically expressed as a percentage of your total loan amount.

That said, your APR might equal your interest rate if your loan doesn’t include any other fees. Origination fees and points are included in the APR. Fees such as Appraisal, Title Insurance, Notary, and Escrow fess are not included in the APR.

Note that penalty fees, such as those for a late payment or a bounced check, are never included in the APR. So, your costs of borrowing could be greater if you fall behind on repaying your loan.

Andrea Augustson

Home Equity Line of Credit-HELOC

As a Mobile Notary and Loan Signing Agent, I come across many types of loans. This blog is written to inform readers about a type of loan known as a Home Equity Line of Credit (HELOC).

A person is able to access the equity in their home and borrow against it. This is done as a line of credit. The lender agrees to lend a maximum amount within an agreed upon period of time. There is a date when the HELOC balance must be paid off.

As you repay your outstanding balance, the amount of available credit is replenished much like a credit card. HELOCs can be interest only through the years of the loan term that the borrower can draw on the line of credit.
HELOCs are convenient for funding intermittent needs, such as paying off credit cards, making home improvements, or paying for college tuition.

Upfront costs are also relatively low. On a $150,000 standard loan, settlement costs may range from $ 2000-$5,000, unless the borrower pays an interest rate high enough for the lender to pay some or all of it. On a $150,000 HELOC, costs seldom exceed $1,000 and in many cases are paid by the lender without a rate adjustment.

Some HELOCs are convertible into fixed-rate loans at the time of a drawing. This is a useful option for borrowers who draw a large amount at one time.
Whatever your Mobile Notary and Loan Signing needs, I am happy to travel to you!


Life Settlement Notary

What is a Life Settlement?

When a person no longer needs their life insurance policy, they may be eligible to sell it to a third party for more than surrendering it to the insurance carrier. This sale is called a life settlement.

In a life settlement transaction, the policy’s owner transfers the policy to the buyer in exchange for an immediate cash payment. At this point the buyer becomes the named owner of record with the insurance company that issued the life insurance policy, pays all future premium payments and then receives the benefit upon the death of the insured person.

Before the emergence of the life settlement market, policy owners had few options if they didn’t want or need their policy. Traditional options included letting it lapse, surrendering the policy, or requesting a 1035 exchange. These options may still be a good fit. Now, the life settlement market has become an additional attractive option to generate more cash to be used while living.

A good question would be what is a 1035 exchange?
For an exchange to qualify as tax-free under the IRC Section 1035, the individual named on the annuity contract or life insurance policy must replace the old contract with an equivalent new contract. This rule effectively disqualifies the holder from a tax-free swap if an annuity contract was exchanged for a life insurance policy or vice versa.

Many of the pages in a Life Settlement Contract need to be notarized. This is where the importance of a traveling notary comes in to play and where Andrea’s Mobile Notary and Loan Signing Service is needed. Since my job as a Mobile Notary is to prevent fraud, it is of high importance to follow California notary laws. Since time is of the essence it is very important to have no notarial errors. It is very important to work with an educated life settlement notary. Sometimes, the transaction will include escrow documents. As a Loan Signing Agent, I am able to notarize escrow documents flawlessly.

I have had the pleasure recently of working with a competent and caring Life Settlement Agent. If you need assistance or have any questions with Life Settlement, please feel free to contact Benjamin Stock.
800-674-9918 p
818-687-3909 c

Adjustable Rate Note

There are many options that a buyer has when choosing what type of loan to obtain. This loan signing blog will contain some basic information regarding an Adjustable Rate Mortgage. The acronym for this type of loan is ARM.

In this type of loan, the Note can be could be for 30 years however the interest rate will change. The interest rate on this loan will be fixed for a short period of time. The rate of interest will be smaller in the beginning and then it will adjust. This can be a huge benefit for borrowers who do not want to hold on to the property for a long period of time. The term of the rate will eventually adjust after the fixed period of time. This adjustment depends on an index known as the LIBOR (London Interbank Offered Rate).

When doing a loan signing with an ARM, I find that the signers are very knowledge about their loan documents. As a Loan

Agent, I go over any basic questions and guide the signers though the loan documents before I perform any notary duties. For example, I will show them what the interest rate of the loan is, what the interest rate and monthly payment changes are, and what the limits on the interest rate changes are in the loan signing documents.

I always love helping people with loan documents. It is very fulfilling to be a Loan Signing Agent and a Mobile Notary. I look forward to many people with their loan signings!

Seller’s Loan Documents

This week in my mobile notary and loan signing business, I have had an opportunity to provide loan signings for two clients who were selling their homes. This type of loan singing is called a Seller’s Package. By coincidence, both sellers had property that they were selling in New Jersey.

It is very important when notarizing out of state documents, that the Loan Singing Agent pays close attention to the verbiage on the documents that the signers are signing and where the notary is placing their notary seal on the document.

For example, an affidavit will contain the wording, “sworn” or “affirmed” before a notary or any public official. However, if that notary certificate has New Jersey verbiage and the loan signing agent is in California a California Jurat must be supplied and attached to the documents. When performing a notary on these types of documents the notary and loan signing agent must have signers swear before the notary under oath and sign the document in the presence of the notary or loan signing agent. Then, the notary signs and places their seal on the affidavit. A thumbprint is always required in the notary’s journal on Jurats and affidavit types of notaries. If the signer is uncomfortable swearing to a Supreme Being, then affirming on one’s personal honor that everything in the document is true and correct is required. This type of notarization is extremely important because the Jurat will provide proof that the signer told the truth regarding information in the document under the penalty of perjury when the document is notarized.

Duties of A Mobile Notary and Loan Signing Agent

The roles of a mobile notary and loan signing agent are very important. Many documents such as mortgage documents, wills, contracts, sworn statements, affidavits, and powers of attorney often require a notary. The duties of a notary often vary from jurisdiction to jurisdiction. In the state of California, it is very important to verify the identity of the person who is signing the document. Often, a thumb print will be required as well.

As a mobile notary and loan signing agent, it is very important to read all documents very thoroughly. You should also know where to place your seal or stamp on the document. When performing a loan signing, it is our duty and responsibility to guide to signer through the loan documents.

Also, whether you are acting as a witness, administering an oath, or acknowledging a signature, will determine whether the individual is required to sign the document in your presence or just confirm that an existing signature is, in fact, their own.
It is very important as a notary to properly identify all signers. Also, it’s important to obtain a journal entry and log all the necessary information pertaining to the notary transaction. A mobile notary and loan signing agent cannot give legal advice. However, they can guide the signer to the right person who can answer their questions. Often this will be their attorney, an escrow officer or the lender who issues the documentation. When I am doing a loan signing I often get the phone number of the escrow officer or lender ahead of time in case questions regarding the mortgage documents come up. I find that most of the time people are happy to help and working together as a team can get a lot accomplished.

Fingerprinting When Notarizing Deeds and Powers of Attorney

In the State of California there are several types of documents that require a thumbprint in the notary’s journal. These documents are a Deed, Deed of Trust, Quitclaim Deed, and a Power of Attorney.

These documents are very important because they pertain to real property, financial and health related affairs of an individual. The job of a notary is to prevent fraud. The nature of Deeds deals with title to property and therefore it is of high importance that a notary follows their state laws. Properly identifying the signers involved, obtaining a proper journal entry, and a thumbprint is very important.

A power of attorney is important because it grants someone permission to manage your affairs on your behalf. One can find themselves in a situation in life where they need someone to make decisions on their behalf. The principal is the party giving POA, and the agent is the person receiving the power to act on their behalf. When a person has authority to act on your behalf financially there is a large amount of responsibility that a notary has during the notary process. Once again, following your state laws concerning notarization is vital.

As a Mobile Notary and Loan Signing Agent I often perform notarial services on these types of documents.