Question

Select the best answer: A signer indicates the address stated in the closing documents is incorrect. The lender’s representative confirms the mistaken address in the documents and authorizes the signer to correct the address. Based on this confirmation, the agent may:

a. Not alter the documents and should request new documents be drawn


b. Not alter the documents without first calling the contracting company for permission


c. Correct the documents


d. Have the signer correct the documents

Answer 1

The correct answer is letter A

Explanation: Protested document authenticated with notary's stamp; - Letter of consent with notarized signature and creditor's signature; - Instrument of protest, which must also be signed by the creditor and be notarized.

Answer 2

• Option-(A): Not alter the documents and should request new documents be drawn.

Step-by-step explanation:

• A signer indicates the address stated in the closing documents is incorrect. The lender’s representative confirms the mistaken address in the documents and authorizes the signer to correct the address. Based on this confirmation, the agent may not alter the documents and should request new documents be drawn.