Verify Funds due from customer

Hello everyone,

I just wanted to bring this out into the open for any new notaries that are trying to learn or figure out what questions to ask when you confirm an appointment with the borrowers. Verbal confirmation is the best way and first choice for me. If I can’t get a hold of the borrowers after calling and leaving a message I will text them a message if there is an email available on the instructions I will also send an email.

I have come up with things that work for me it may or may not work for you, but I want to help out if I can.

  1. Confirm place and time of appointment
  2. Covid questions and wearing masks at table.
  3. A place available to sign documents? Example, table clutter free or outside in garage or backyard? Most of the time borrowers want to sign inside during the winter season.
  4. Copies of DL front and back. ( if needed)
  5. Color of pens needed for signing.
  6. Any funds due from borrower or due to borrower. ( they may need a voided check to be included in package.

Number 5 is one issue I have come across in confirming with borrowers, They are not aware of money due or the amounts are incorrect. I ask them to get a hold of their loan officer to confirm that amount. I also get a hold of the contact person and sometimes it’s a title company or the lender which will be printed in your instructions.

If there’s a discrepancy in the CD or Alta it can be cleared up before you go to the appointment so there will not be any surprises to the borrower or to you. As a Signing loan agent our main job is to show up to the appointment make sure the documents are signed and dated properly and notarized and we Identified the borrowers correctly. Documents that were drawn up by the title and lender is not our responsibility to explain them in detail or be adamant with the borrower about the amounts shown on there are correct. There are times we do not get informed properly. I’m not going to make a borrower write a check for the incorrect amounts when they have specifically told me no that’s not the right amount, but it’s our duty to do the right thing and to clarify or ask questions with the lender or title company or signing company that hired you. If those contact numbers are not available to you reach out to the Signing company that hired you.
This is only information that may or may not help you, but it works for me and everybody does things differently and Hope this helps and stay busy and safe out there fellow notaries :wink:

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I have recently had 2 signings where the signers had NO idea there were funds due . One went to get a check the other refused to sign and we had to call the closing team. I am fairly new so this was a live and learn experience for me for sure! I always call to verify funds due before arrival now-

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#5 :roll_eyes: that, is an issue. I always carry black and blue pens, especially blue for the same reason you mentioned.

Funds is in the CD, but is good to ask escrow or TC before your appointment date with borrowers, and confirm with them about the money due.