Conventional Fixed Refinance / Sale Signing

A conventional fixed refinance loan is often used by borrowers to pay off one loan with the proceeds from a new loan on the same property. These types of loans are fairly straightforward for signing agents and will require around 8 to 12 notarial acts- however, these can vary with certain packages requiring additional acts. A conventional sale signing is used when borrowers receive a traditional mortgage from a lender.

Important on the note and deed of trust to know where on the docs to locate the terms that the client and lender have agreed upon.

There are usually 125 – 200 pages involved in a loan signing package. Both Sale and Refinance docs contain around the same amount of pages to sign with the exception of additional documents from escrow like termite report, termite clearance, HOA approval, Preliminary Title Report approval, amendments, escrow instructions. It is important to check the estimated closing statement and see if the client has a balance due escrow or if they are getting cash back. California is a “good funds” state which means closing funds (unless given authorization to accept personal check from signing service) MUST be either wire transfer or certified cashiers check. If you notice that there are no wiring instructions in the closing package it is important to make note to the signing service that there are funds due but no wire instructions in package.