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VmSS mortgage Closer (VmC), a/k/a loan closer or closing agent, is a crucial figure in the final stages of the mortgage lending process. VmCs primary responsibility is to facilitate and oversee the closing of a mortgage loan, ensuring that all the necessary documentation is properly executed, funds are disbursed, and the property's title is transferred from the seller to the buyer.
VmCs work for title companies, escrow companies, and mortgage lenders.
Responsible for preparing the final closing documents, including the Closing Disclosure (CD) or HUD-1 Settlement Statement. These documents detail the terms of the loan, closing costs, and any funds that need to be collected or disbursed.
Review all loan documents, contracts, and legal paperwork to ensure accuracy and compliance with regulations and lender requirements.
Coordinate the timing and logistics of the closing with the buyer, seller, real estate agents, and any other parties involved. They schedule the closing appointment and location, making it convenient for all parties.
Verify that all necessary funds are available, including the down payment, closing costs, and any prepaid items. They may collect funds from the buyer, or in some cases, they facilitate the transfer of funds from the lender to the appropriate parties.
Explain the purpose and significance of each document to the buyer and seller. They ensure that all parties understand what they are signing.
Document notarization, witnessing, and notarizing signatures as needed.
Ensure all necessary documents are recorded with the appropriate government agency, such as the county recorder's office.
Disburse funds according to the terms of the loan and closing documents. This may involve paying off the seller's existing mortgage, covering closing costs, and providing the seller with their proceeds from the sale.
Oversee the transfer of the property's title from the seller to the buyer, ensuring that it is properly documented and recorded.
After the closing, VmCs complete any post-closing tasks, such as sending final documents to the lender for record-keeping and ensuring that the loan file is complete and accurate.
Perform quality control checks to ensure that all documents are in order and that the closing process adheres to company policies and regulatory requirements.
VmSS Closing Signers (VCS), a/k/a notary signing agents or mobile notaries, our team of Signers are authorized to witness and notarize signatures on important legal documents, particularly those related to real estate transactions and mortgage closings. Their role is crucial in
ensuring the proper execution and legality of these documents.
Before notarizing any document, our closing signers verify the identities of the individuals signing the documents. This involves checking government-issued photo IDs, such as driver's licenses or passports, to confirm the signers' identities.
Witness the signing of important documents, including mortgage agreements, deeds, affidavits, and other legal papers. They ensure that the signatures are genuine and that the signers are willingly and knowingly executing the documents.
Administer oaths or affirmations to individuals, which is a solemn promise to tell the truth. This is common in affidavits and other sworn statements.
Complete the notarial certificates or acknowledgment sections on documents. These certificates typically include information about the notarization, such as the date, location, and the signer's name. The notary's seal and signature are affixed to this section. w
Our Signers do not provide legal advice or review the content of documents for legal accuracy, we may verify that the documents are complete and contain no blank spaces or missing pages.
Deter fraud in the execution of legal documents. By verifying identities and confirming that signers understand the documents they are signing, they help protect against fraudulent activities.
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