Reverse Mortgage Closing

Has anyone come across a reverse mortgage closing that only needs signatures with no notarizations??? This is my first and I dont want to miss something but there is no notarial section / certifcates in the documents to be notarized… any advise / thoughts please?

I think you may be signing the Application for an RM. Usually, they’ll send the same Notary for BOTH the Application and the Final. The Application has no notarizations; the Final has quite a few. Both are usually very large packages and the Application takes just as long (if not longer) than the Final. Price accordingly.


Agreed with @Arichter I’ve had to do a “Loan Application” for a reverse mortgage that had no notarizations. Although, I don’t think I was called to do the closing because I was subbing for a Notary who had to cancel, and it was my favorite nemesis, “Notaroo” that sent me there. :stuck_out_tongue_winking_eye:

Thank you @Arichter and @mag3_notary

@vfnotaryservices Great question. As noted previously, this RM order has all the appearances of a RM Loan Application.

CAVEAT ==>> Clarify the payment terms DEFINITIVELY with your client . . . BEFORE you complete the work.

Some companies have a No-Pay Policy for RMs if the RM doesn’t FUND or if the Borrowers [BOs] change their minds and decide not to go forward with the RM. Better to know this for certain ahead of time. These business entities choose NOT to pay the Professional Signing Agent [PSA] for the Loan Application appointment.

Of course, this is NOT brought up during the scheduling call/APP offer.

This is a recurrent scenario I’ve alerted Notary Cafe members about many times over the years along with my regular recommendation regarding payment terms of the distinction between payment interval counted in calendar days or business days. Big difference between the two intervals!


Thank you, I appreciate the information, certainly good to know before the appointment @cNsa5

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@vfnotaryservices when accepting these orders, make sure you ask for a decent fee for it - these, sometimes, can take longer than a regular signing as you’re going to have to pick up supporting docs from the borrower to be sent back with the package - and despite being told in advance what to have ready, 8 times out of 10 it’s not ready and you have to sit and wait while they search for and gather up the docs/info. Also, from what I’ve read recently, these packages are now as large as the final package, although you only print one copy (I used to make an extra copy of the Good Faith Estimate for the borrowers so they’d have it on hand in discussion with their LO). My point of this is - price this accordingly. Even though no notarizations, you have extensive printing costs, travel and time (lots of time).

Good luck

Thank you @LindaH-FL the advise and information provided have been very helpful and insightful as a new agent dealing with this type of loan and I appreciate it. This is very helpful in knowing exactly what to expect. Thanks again :slightly_smiling_face:

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@vfnotaryservices Concur :100: percent! This insight by @LindaH-FL mirrors my direct experience. Sometimes it takes the signers an hour (or more) to locate all the supporting documentation - in spite of the fact they’ve been advised preliminarily to have it out & ready and/or copies already made . . .

Also, in total agreement with this advice regarding pricing by @LindaH-FL and coupling that my direct experience noted in my previous post (highlighted below):