Having knowledge also means knowing what not to do. For a notary to understand the paperwork is one thing. To practice law without a license by offering inappropriate legal advice at the closing table when not properly licensed to do so is quite another. This should never be expected or occur under any circumstances.

Regulatory know-how

An understanding of how the Truth in Lending Act (TILA) regulates loan-document preparation and its execution is important. A good closing notary will keep current with changes to all relevant regulations and how they apply to the signing of loan packages.

Nothing promotes borrower peace of mind during a signing faster than a notary who can provide a plain-speak explanation of terms and disclosures at the closing table. The TILA disclosure, in particular, tends to confuse many borrowers even though they have seen it during initial disclosures.

Every mortgage broker's goal should be to fund as many good loans as possible while providing exceptional customer service and offering ethical and honest advice. Achieving success in this regard, however, cannot be accomplished alone.

A broker's loan-making support system includes many valuable contributors, and a skilled closing notary is one of them. Skilled notaries strive to get loan documents signed properly the first time, and they achieve that goal based on their education and experience.

The best notaries also make a point to meet borrowers on their terms and willingly travel, as needed.

DK King, based in Orange County, Calif., is a licensed California broker and the owner of The Power Funding Group LLC. She also is a commissioned notary public, writer and educator. As a seasoned veteran of the mortgage-lending industry, King has considerable experience in commercial and residential origination, escrow management, loan servicing, and bank-owned asset management. King can be reached at (714) 971-0933 or pfginquiry@sbcglobal.net.

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