I wholeheartedly agree and I will go one step further. We can and should answer basic questions about the what and the where and in some instances, even the why! Why the 4506T, because mortgage fraud is pervasive and the lender sometimes needs to verify customer provided income documents and tax returns with what the IRS has on file for those years. Simple, not lender specific and required with every single refi and purchase, period. No ambiguity there, there is a reason, it is straight forward and doesn’t change from one lender to the other.
“Why is my interest rate x.xxx%?” Not to be touched with a ten foot pole. Very client, lender, loan officer specific and not our business, and frankly, we don’t know. Now having owned a mortgage company for 12 years prior to starting my Notary work, I could look at the docs and figure out that particular why, but that is not my job and answering that question is fraught with peril.
“Why must I sign a signature affidavit?” Everyone signs it so that they “lender, title and any potential investigative team” have a reference sample of your signature and any variants, “some title companies”. It’s a fraud prevention and investigative measure to help determine whether it was really you who signed the documents today, or in the future if someone is attempting to sign documents my impersonating you. They a required with every single refi or loan for purchase. Again, that answer doesn’t change from one borrower or lender to the other.
We all should know these answers and be able to answer them. If all we do is witness signatures then why do we call ourselves Certified or Professional anything?
Tony D.