The $1,500/Wk Plan: How to Prepare & Notarize a Package of Loan Documents

Hey, this is TJ with Solutions by tj. And today I'm coming to you to teach you how to go through and prepare the documents for your closing. This is a long awaited video and I'm so glad to do it. It has been tough to do this video, so please respect what I do because I had to go through this document with a fine tooth comb and take out all of the customer information. So I thank you for looking at it. Hope this helps you and let's get started. Also, before we get started, if you haven't done so already, please subscribe to my channel and like this video. Thanks a lot. Okay, so when you download your documents, the first thing that you'll see are directions from the actual lender. And this particular document says that if the borrower does not have funds required to close on hand, then the closing must be adjourned. So you have to stop the closing. In case of wired funds, proof of the wire must be obtained and they initial here. So if they wired the money, then you have to either take a picture of the wire transfer confirmation.

Or they have to give it to you so that you can include it within the document.

Checks must be payable too. All of this stuff where you see initial here, it has to be initialed. So all checks payable to any other entity versus title company, LLC can cause delays. So these spots where you see this, you are actually initialing and you can have your client initial it as well so that, just to show that both of you understand what's going on. Okay? The acceptable funds that they accept, you have to read this because all of this can change every single time. So never get so comfortable with a lender or with the closing that you fail to read this because it changes. So they tell you that they will only accept personal checks that are less than 1500 cashier's checks in the amount of 5000 or less. And anything over that must be a wire transfer. So, and then they go over the unacceptable funds and again, the initials are for you and the client to show that both of you understand this and have read it.

Okay? So make sure that you read all of this.

This is regarding additional wiring instructions. They give a phone number and I've X'd it out because, I mean, you know, it's not necessary.

It's necessary, but I mean, this is for practice purposes only.

So as you're going through this, I want you to be sure, be sure, be sure to read all of this information and make sure that you understand it. Okay?

This is a part of the wiring instructions that you'll have to fill out regarding, you know, your bank account, your routing number, any reference numbers that they gave you.

And they also talk about fraud in there. And then this is where your client signs signer 1 and signer 2 that they understand those, those that information.

Here it's talking about the acceptable forms of identification. Normally they want two forms of identification. So these are the acceptable forms of identification. You can take a picture of it. If you're using SnapDocs, you can take a picture of it and load it into snapdocs. However, when I confirm the appointment with my clients, I always ask them to please, please, please have a copy of your identification so that I can add it to the file. Have two copies of your identification so that I can add it to the file. That way I'm not taking pictures and having to erase pictures from my phone. And they've already given it to me and I, you know, everybody is happy that way. So in addition to your title company giving you instructions, the notary companies that hire you through Snapdocs will also provide instructions. And you have to fill out all of this information. So I mean you can read it. I'm not going to go through and read it for you, but you see where it says stop. This is a checklist just to make sure that you've covered all of your basis before before you leave. So what I recommend is that you go through this document when you're preparing the documents as well as before you leave the closing to make sure that you have every single thing that you need.

So this document is actually going to tell you these are the most commonly missed signing errors. Please check is confirmation that each document has been correctly completed and executed. So it'll tell you where you need the documents that will require signatures and will require your notary stamp. And as you're going through this after the closing and before, while you're preparing your documents, I think that you know, you should go through it and check the initial yeses to make sure that you have everything in order, photo ID and copies provided by them or you. You know this is super important because this will make sure that you don't miss anything.

And this is a proceeds authorization to say that upon the close of the above referenced escrow, you hereby instructed to disperse the proceeds due to the undersigned. So this is for the client's escrow account and they are providing their.

Banking information for a wire transfer.

Or overnight.

Or avoided check. If the bank account is not in the same name as shown on the settlement document and they have to sign this.

So this is saying that the undersigned.

Individual defined as a signatory.

And this is a sworn oath owner's affidavit. So when it says owner's affidavit, sworn oath, you know, when you start seeing state of county of, that's something that you're going to have to notarize. So this information should be filled in with the county in which you are signing in the state and county in which you are signing this document in as the notary. If you're doing a remote notary, then it still applies. It's your information. It's your. Where you are signing this information. Okay?

Owner has been in peacefully and undisturbed possession of the premises and in the county of the state. So depending further than, no person.

Has a valid contract to purchase. So this is all saying that this owner is saying, yeah, I own this property and nobody else does. And there are so many different types of documents. First of all, you're not going to explain these documents to your client at all. You give them an overview. This document is just saying, you know, please read the document is what you basically tell them, read the document. It's just saying that you, you own and possess the property, but you don't explain these documents to them because that is the, the duty of the actual title company or.

Their lender or.

Their real estate agent. So you don't explain it. You give a real brief overview of all of these documents because that keeps you out of legal trouble. Okay, I'm just telling you personally what it is, but I suggest that you read it for yourself as well.

And if you are explaining it to them, then you just read exactly what's on the paper. You know, if they need for you to read it, don't, don't add to it, don't subtract from it. This document says, blah, blah, blah, blah, blah.

What does that mean? Then you call the title company, okay? So your signers sign. This is your city, your state, your county.

Sworn to me and subscribed.

Before me. This. Then you put the date here. If it has any other information on here. You sign your name.

You type in your. Or sign in the day that your commission expires. And you must stamp in a spot that's free and clear. Don't do a smudgy stamp. Don't stamp off of the page. You can do it as close to this as possible, but make sure that it is a very clear stamp.

And another thing that I want to tell you is how to set up the table real quick. So I generally set my table up for my signings from. Let's say.

I'm sitting facing south.

The first signer who has the sign is facing is sitting on my right hand side. The second signer is sitting on that person's right hand side. So there's an even flow. So they aren't sitting across the table from each other. We're all sitting right next to each other. I'm sitting there, they're sitting to my right. And then the second signer is sitting to that person's right. So I pass the first document to the first signer, they pass that document to the second signer. The second signer passes the documents always back to me. Because it is imperative that you do not get these pages out of order. That's why they give it back to you so that you can lay it down and make sure that everything is neat and in order when you give it back to your title company.

This is an exhibit.

Okay. And this is just saying notary, did you collect funds to close? Yes or no? The notary signs, the borrower signs.

This is saying to attach a check.

And this is, this letter shall serve to request that the above referenced line of credit be frozen such that no further advances against it can be made. So this actual closing is for a home equity line of credit. Where they're closing the line of credit.

These are the disclosures. So just to be clear, this is not a refi, this is not an initial mortgage. This is closing a line of credit account.

All of this information is filled in.

Not by you, but by the settlement agent by the title company. And it's just for your client to see.

The T64 document.

And the signer sign. So everywhere the signers have to sign.

As you're preparing the documents, you place a sticky in those spots so you don't forget to have them sign those documents.

Okay.

So stickies will go here.

And they put blank pages in there. Why? I don't know. But leave the blank pages. This is a correction agreement. This is just saying if the title company has to correct anything, then they will allow them to do so. The signer sign. So you pin that. So if I know I didn't say that up front because I'm just going through it. But as you're going through your documents, go back. Just because I didn't say it, go back through your documents and make sure that everywhere the signer is assigned to post a sticky everywhere that you're supposed to Notarize. Post a different colored sticky. Okay.

Okay. And I'm remembering things, y', all, as I go through this, so bear with me.

Every line in the document needs to be filled in. You shouldn't leave any blank document, any blank lines within the document. So if it says county, then you know, you enter the county. If it says state of, then you enter the state.

And some of these you will not understand. So you're going to have questions. Now, I've been doing this since 2016. I still have to call my cousin. That's why having a mentor is so very important, because we go over these documents with you. Not just a general document, but your specific documents. So even though I'm going through this, yeah, you might still have questions.

And this is gonna be a date that you put in here. And you have to like all of these spaces. They want you to fill them in, even if it's just a cross or you cross through it. So you'll have to know what to put in these, in these different spots.

And if you have.

I'm sorry, if you have a question on that, then it's very important that you ask your lender.

What to do.

How they want you to handle that.

And this is again, an affidavit. When it says an affidavit, you know that you are gonna have to sign it and sworn them. Subscribe to me. This, this is the day of the month, this is the actual month, and this is the year they sign.

Then you sign.

And even if it doesn't have anything that asks for your. Your expiration date, you still sign it and you can still put the expiration date on there and make sure that your sale is clear.

Seasoned Home Equity Loan Refinance affidavit.

All of this stuff is generally filled in for you, but you don't have to guess what to fill in. In these spots, you can call. Your first.

Line of defense to call is the notary company that hired you.

Right. If you have questions. So say, for instance, you don't have a mentor. If you have questions, call the company that hired you and ask them, what do you want me to fill in on page, Blah, blah, blah, blah, blah. If you do have a mentor, I personally call them first just so that I don't look like an idiot in front of the notary company for not knowing certain things. And if my mentor doesn't know, you know, my cousin has done over 1500 notarizations. She is. There's nothing that she doesn't know at this point. She's seen a whole lot of stuff. So if she doesn't know, I feel pretty confident that this isn't a regular doc. And then I go on and call and contact.

Contact my notary company and the notary company. Once you call them, if they don't know, they'll tell you to call the title company, the mortgage broker, or the real estate agent. However, you know, that's why it's important to go through these documents ahead of time. These little sneaky lines, all of these little sneaky lines that I'm pointing to, they need to be filled in. You cannot leave them blank.

This is a document that needs your notary seal. So again, you put your post its here, you'd put your sticker here to say that this is a document that needs to be notarized. And you keep going.

And.

In these blanks, you can actually have them to.

Put their initials just to say that they understand that all these documents are included. These are actual names of companies. So I took those out. So some of the blanks that you see are not all stuff that you're gonna have to fill out. So don't get scared. It was just specific information from a lender that I didn't want to leave in here and for my own liability, because I'm putting this on the Internet. So every little space that you see, you are not gonna have to fill it out. So calm down.

But there are some sneaky little spaces where you will have to fill this stuff out.

So, see, like these docs, this is a certain name of a company. You ain't gotta fill that out.

Okay.

Acknowledgement of receipt of affiliated business arrangements. So when your signer is signing, they have to sign all of these documents exactly as their name appears on the document. And their ID should be exactly as it appears on the document. But even if their ID isn't exactly as it appears, then regardless of anything, however the title company drew up the docs, they have to sign their name exactly. So my name is Latonya S. Johnson. If they add my middle name, I need to write out my whole middle name. I can't just sign Latonya S. Johnson.

I hope y' all are taking notes or going back through this, by the way.

Because these are good little notes. And I know I might not be going completely in order, but I'm trying to go through it and give you as much information as I can. You know, as I'm going through it.

And trying not to go too fast.

This is a document that you don't have to sign, nor your client. This is for the closing department to sign. And this is something that they actually have to notarize themselves. So I've seen this document quite a bit.

It's instructions to the closer you are, not the closer. Okay? You are the remote notary.

So closing instructions. This document is not for you to sign. Again, this is for the actual title company to sign. And if it requires notarization, then they perform that notarization, not you.

Residential loan application.

This is stuff that your client is going to see. They're going to understand it. You know, it shows a breakdown of all of the loan specifics and, you know, combined monthly house expense. This is all stuff they probably already provided.

And this portion of the training, my cousin normally does this. So when we have new, new mentees coming on, she's the one that actually goes through the documents with you. I'm normally on the call. And again, for our mentees, we only take the state of Texas because that is what we know all over Texas. Any other state, the documents won't be.

A lot different from this as you go through it. However, they could be. There could be some variations. This is a document where your borrower and co borrower have to sign. So this will require a sticky.

This will require sticky as well.

And they have to sign in date down here as well. So I would put stickies, even though it's on the page, I would put stickies at every single location where they have to sign. Because as you can see, you know, some of these are kind of consecutive, even on the page. They have to sign at the top of the page, they have to sign at the back of the page. So I put my sticky as close to the signatures as possible.

And again, when you get this, most of this information they filled out already with their lender over the phone.

But I'm sure you can see how easy it is just to not see something and then you got to go back out there. So it's good to have somebody watching your back on this stuff.

Signature of officer or lender. Nobody signs this. This is for the officer or lender to sign.

This says notice to borrowers, borrower certification.

This is normally already filled out for you.

This requires the borrower's signature, sign it and date it.

This is important.

This is not for y' all to sign. It's the mortgagee's representative.

And their ID numbers and stuff. So that's not for you to sign.

This is for the borrowers to sign. Put a sticky here.

This is the name of the mortgage company. This should be.

The name and title of the actual person who's signing it.

Notice of intent to apply for joint credit. You are going to sign and date this. Have your client sign and date this. So put a sticky there.

Closing disclosure. When you see this document, this is one page that you can take out of the package and put it in the very front after the title company's notes and after your.

Notary notes. Because this is what they. This is what most, most borrowers want to see. They want to see the loan amount, the interest rate check to make sure that's correct. They want to see the monthly principal and interest payment. They want to check and see if that's correct. It's not for you to say whether it's correct or not. It's actually for them to say, yes, this is correct. Okay. If they have any questions on it, they call the mortgage broker.

This is principal interest mortgage insurance.

If that's. And the estimated escrow, the escrow will include taxes and homeowners insurance. So this will be their total monthly payment. And if they ask you questions about, you know, well, where's my total monthly payment? You. You just simply direct them to this document and say, here, how much am I paying in interest? That's here. What is my total loan amount? That's here.

This is the estimated taxes and insurance. And it's estimated because, I mean, it can go up or down.

These are the closing costs. And this is actually what the. This buyer was to bring to the table. So.

They couldn't use a personal check because again, at the beginning it said no personal checks over $150. I mean, I'm sorry, no personal checks over $1500.

Okay.

These are all of the details for them. This is another page that you could put in the front.

This is a page that you can put in the front, too.

Those are like three pages or the few pages that you could put in the front because that's what every borrower wants to know. And the lender won't get upset if that's out of order.

Trying to make sure I'm not going too fast for y'. All.

This is one, one spot where they'll have to sign.

So put a sticky there.

There are normally two.

Copies of the seller's disclosure in every closing. So you can take both of those copies out and put them in the front.

And this one is a three pager.

With the information.

And this one, there were two copies of it. One was signed by seller, one. And pay attention to this because the other was signed by this one is signed by seller one. The other one was signed by seller two. So they both signed individual documents. If you make a mistake at the closing table and say for instance they sign something incorrectly or you make a mistake, you can cross it out. And initially however, what I recommend doing is you have made two copies to take to the closing table. One copy you're going to leave with them. The other copy is going to go directly to the title company. If I made a mistake on this page, I would take out of my of the copy that I'm gonna leave with them. I take this page out.

And put the incorrect information in their copy to keep with a note that says corrected and I would put this in the actual file for the title company. If that doesn't make sense, please leave a comment in the comments below. But I hope you get what I'm saying. I would take the copy out of their copy that they're gonna keep and circle the error and say corrected an original document and then I'd put the correct page to give to the title company.

And like I said, there are normally two copies of this. So you know, you're seeing this document four times because this should be for the signature for.

The wife or the signer number one or whoever.

Okay.

And yet can't get confusing. This is an interest rate lock agreement showing their interest rate. Again.

This is a document for both of the borrowers to sign. Put a sticky there.

This is the Patriots Act. You are going to find this in every single document that you close.

And this is actually something for you to sign.

That you've looked at their information. So this is something that you need to look at and pay attention to. It's just stating. To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identify, state each party who opens an account. So this is just to say that you know, I looked at their information, this is the borrower's name, this is their address, loan number, Social Security number, you should verify this number.

Okay. And primary forms of ID that they have given you, you have to fill this in, the driver's license.

You know, the state issued id, whatever type of ID it is, you enter it into these, in these fields and they have a primary form of identification and a secondary form of identification. So again the types of documents that they can use to verify their identity, recent utility bill insurance papers, home car renters insurance, W2 paycheck stub, bank loan statements, organizational membership card, voter registration card. And you fill this out.

And this is just saying, you the person who are filling this out, because this is for you to fill out. I certify that I personally viewed and accurately recorded the information from the documents identified above.

You sign here, date here, print your name and your title here.

Never skip that page.

And so that first document should have been. There should be one of these for each signer. This says signer number two, and this one is saying signer number one. And you have to do the same thing.

No notarization is required, but you do have to sign it.

This page says affidavit. So what does that mean? You're gonna have to stamp this document.

And I'm not certain why they put all of the documents where signer 2 signs first. So when I see this and I've gone through to prepare these documents, then signer number two would be the one that's sitting on my right. And then signer number one would be sitting on their right, if that makes sense, so that I can pass the documents directly to them in order and get it back in the same way. So make sure that you put stickies here for this signer. Fill in the state and county where you are doing the notarization. Fill in this information regarding the dates.

When there is a date, you don't sign this for them. You allow them to sign their name and date it. Okay? You only sign and date the information where you have to sign and date all of the notary stamps. This is your information. You have to fill out this. They can't fill this out for you. You enter your signature notary public for you put this information, whatever your.

Your state is, when your commission expires and you stamp it.

Clearly stamp it. If your stamp is running out of ink, then go and get an ink pad.

They have them at Walmart, and stamp that ink pad just to make sure that your stamp stays clear. And also order another stamp if you need to. But the fastest way, the easiest way, the quickest way, is just go to Walmart and get a doggone stamp pad. Make sure to test it out beforehand to make sure that it can stamp it easily, quickly, without any smears, and blow it dry so that it doesn't smear if you put a page on top of it.

This is for signer number one. Put stickies here for them to sign. Put stickies here to know that you have to stamp this as well.

Again, this is the state and county where you are signing the documents.

Okay? And it looks like there Are actually three signers here.

Signer one and his wife and then signer two.

And so all of these people have to be present. When you look at these documents and see that, you can expect that there are three people who have to sign. The wife does not have to sign each and every document, but there are some spots where she has to sign. So she has to be present at the closing as well, or you cannot do it.

Unless your notary, the company that hires you, tells you something different. Because one of these signers may be in another state and they're having a mobile notary go to her. So that's possible too.

So put a sticky here for them to sign. Put a sticky here to know that this is a page that you'll have to notarize. This is saying that they want your notary seal in this area.

Regardless of where they want your seal. Just make sure that it's somewhere on the page. That's where it can be clear and, you know, not looking smudgy and a mess.

Place a sticky here.

Place a sticky there.

There was a place for a sticky there. Because they'll have to sign.

Request for Tax transcripts.

This is something for them to sign.

And place their.

Telephone number.

They have to make sure that all of this is filled in.

This whole document. It may be filled in for you and they just have to verify it. If it's not, then it's something where, you know, they have to enter their Social Security number, correct address.

They don't fill in this part.

They don't necessarily fill in this part.

But they do have to sign here, the signature of the individual and their spouse.

If they are filing as husband and wife.

Same thing here.

Authorization for the Social Security Administration to release the Social Security number. Verification. This is just to verify their Social Security signer to their date, birth, their Social Security number. If this isn't filled in, then they need to fill it in.

The mortgage company usually fills in all of the rest of this stuff.

And your client normally fill signs and dates this and inputs their address.

This should be the same thing for the other signers.

This is a W9 for the taxpayer. They have to fill this out with their Social Security number. Make sure that this address is correct.

Make sure that their name is correct.

Same form, make sure that this Social Security number is correct, their name is correct.

And the address.

This is telling you that you have to maintain hazard insurance on the property.

And there's another place for them to sign. Add your stickies there.

And I am going to finish the Last part of this document.

Because it's getting kind of long. So I will come back to this page.

And finish the rest of this document. But you see, you can kind of get an idea of where I'm going here. If you want to see the rest of the document, then I will put a link to let you know where to receive the rest of this document. But you definitely have an idea that you go through the document. Wherever there's a signature for you, you put stickies there. Wherever there's a place for you to notarize, you put a different color sticky there. Right?

And it's the same thing. First payment letter. This is real important too, because it tells them the day in the month that their first regular payment is due. So they. This is when they make their first house payment. Okay.

And they have to sign this. This is really important. So point this out to your client. That date when they're expected to make their first house payment and how much it's going to be.

This is something else for the escrow. This is another place for them to sign and date. Make sure they sign and date it.

This is to. For the title company, I mean, for the mortgage company to be able to get information about their insurance and taxes. For the escrow account, this is the amateurization schedule.

They sign and date that. Let me make sure I forget anything on that tax account.

Okay, yeah, I think I got that. They sign and date that. This is the tax and insurance.

This is their names.

Acknowledgement of receipt of the appraisal report. They sign and date this.

It's important to go through this because I went through a closing and they would not give me the doggone appraisal report and they wanted me to continue and I wouldn't. So it's your client's, you know, responsibility or option of whether they want to go through it or not. If they don't have all the documents.

No HUD warranty, they sign and date this.

Another place for you to put a sticky.

Another place for you to put a sticky.

Another place for you to put two different types of stickies, one for them, one for you to know that you have to notarize it.

Place for them to sign above. Place a sticky there.

Place a sticky here for them to sign.

This page always gets missed because people are saying, no, I'm not canceling it. I want to go through. It's not saying that you're canceling it, but it's the receipt of notice of your right to cancel it. So what this is saying, you can Explain this to your client.

If they want to cancel this and they decide that they don't want to go through with it, then this is the notice and this is saying you have to do this. Send. Yeah, cancel by mail or telegraph. You must send this letter no later than this month, day and year or by midnight of the third business day. And then if they wish to cancel, they send this form in and say I wish to cancel, sign it and date it. However, at the closing, they just sign their name to say I have received notice. So they sign and date here. There's going to be another one of these for the other signers.

If you have any comments, please don't hesitate to put them. Any questions or comments, put them in the comments below and I'll answer you as quickly as I can.

And I mean they normally have to sell. Each person normally has assigned at least two of these.

Because they want to make sure that, you know, you have the right to cancel if you change your mind.

Taxpayers consent form that they can receive their tax information. Make sure that you. Everywhere there's a signature, you put a post it.

Okay, so this is looks like a name affidavit signature and name affidavit. If they go by different names, say for signature number one, if they have her name as.

Mary Bailey Brown and she also goes by Mary B. Brown or.

Mary Bee Brown, then all of the different names that she goes by need to be listed here and have her write that out, even nicknames.

If she signed her name in a different way. So she'll have to sign this, date it. And you'll also need a sticky for you too to know that you got to stamp this. This is the mortgage note.

This is the promise to pay. This is just saying, you know, I promise you I'm gonna. This is for the way that you explain. This is to say this is your promise to pay the lender back what they're lending you. It has the interest rates, the payments.

Their right to prepay.

And this is what happens if they default. This is very important because think of it. I mean, you know, people can lose their jobs or anything. They need to make sure that they read that what happens if you default?

You'll receive. This one says you'll receive a notice of default. And it's always important to look at that.

And the notices that you'll receive.

They both sign here.

This is the deed of trust.

Most of that is normally filled out for you. That sneaky little county in there. You got to make sure that you fill that out that's why you always gotta look at all of these pages as the notary really carefully to see if there's anything that you have to fill out. Because there are some sneaky little lines in there. And that's what got me. When I first started, my cousin would go back through and say, oh, you forgot this. And I. My first time, boy, I went through with a fine tooth comb and still forgot something. I was like, golly, I didn't sign it. I mean, I didn't input something in three different spots. Somebody to look over you is important people, at least the first time.

But you see, okay, so this takes time for somebody to go through this with you. It takes time. It's worth paying somebody the first time to go through these documents with you.

Sticky goes here for them to sign. And a sticky goes here for your notarization to remind you that this is a spot to notarize. I think this document is 151 pages, if I'm not mistaken.

Plan development writer. You'll normally see that they have to sign this.

Sometimes they just have to sign it. Other times they have to sign in date. Like here. They have to sign and date. Sticky goes here for them. Sticky goes on the other side for you in a different color.

This is just verifying all of their information. Have them take a look at this page and verify that all of it is correct.

They must sign it, date it, add their home phone number, business phone numbers.

That's the worst. Sticky goes for you.

They have to sign this, put a sticky there.

And.

That is it, my friends.

Okay, so let me know if this helped. Hopefully it did.

I love y'. All. That's why I did this. This has taken me some days to do. Boy. Whoo.

If I do decide to charge for this, please don't hate me because it has taken me a long time and a whole bunch of work. But I wanted to get this out to you so that if you are a notary and you have done it and you just need a refresher on it, then you have the ability to take a look at this document, say, oh, okay, I remember. If you have never done this before, then you get. You have an opportunity to see what these closing documents are like so that you won't just be in the green. And this one is for a home equity line of credit.

So there are different documents, different documents, types that you'll have to sign and go through just, you know, just so that you know. This one was for a home equity line of credit. You have refinances you also have new home bills, new construction and new home buyers. So hope that this helps. This is Solutions by tj. Please do not hesitate to subscribe to my channel and give me some love by liking this video. God bless y'. All. Hope you're doing well and see you on the other side. I'm rooting for you. Don't you ever forget that I am rooting for you.

God bless.