Answer: b. Permissible if the Notary Signing Agent has the breakdown of the fees
Choices are:
“A. prohibited under all circumstances, regardless of the Notary Signing Agent’s level of expertise”
“B. permissible if the Notary Signing Agent has the breakdown of the fees”
“C. recommended in order to convince the borrower he or she is getting a fairly priced best loan”
“D. encouraged in order to provide superior customer service to the borrower”
The notary is allowed to explain the fees that make up the Annual Percentage Rate (APR) of a borrower’s loan but he is not allowed to comment on its source, its accuracy, or his opinion of the information.
The fees that make up the annual percentage rate (APR) of a borrower's loan are permissible if the Notary Signing Agent has the breakdown of the fees. Hence, Option B is the correct statement.
The notary is authorized to give an explanation for the charges that make up the Annual Percentage Rate (APR) of a borrower’s mortgage however he isn't always allowed to touch upon its source, its accuracy, or his opinion of the information.
Hence, Option B is the correct statement.
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