The loan document signing process is a crucial step in securing a loan. It's the point where you officially agree to the lender's terms and conditions. This typically involves reviewing a stack of documents and signing them in the presence of a notary public or a loan signing agent.
Here's a general overview of the process:
· Preparation: You'll be contacted by a loan servicer or closing agent to schedule a signing appointment. This can take place at a title company's office, the lender's office, or even at your home. Before the appointment, carefully review all the loan documents you receive.
· During the signing appointment, a notary public or a loan signing agent will play a pivotal role. They will guide you through the documents, verify your identity, witness your signature, and ensure the signing process is completed correctly. However, they cannot provide legal advice on the loan terms, so if you have questions, it's best to contact your lender or broker beforehand.
· Documents to Expect: There will be a bunch of documents, but some of the most common ones include the promissory note (your promise to repay the loan), the deed of trust or mortgage (which gives the lender a claim on your property if you default), and the Truth in Lending (TILA) disclosure which details the loan terms.
Additional Services
· We offer to scan the documents and email a soft copy to you and the loan officer.
· We offer to take the documents to the FedEx or UPS store for overnight delivery.
· We can provide FedEx labels and bring envelopes for the signing.
· If you need additional witnesses brought to the signing, we can provide those.
· Closings completed on Friday will arrive on Tuesday, to the loan officer.