Providing and recording documents are performed by:
- The closing agent
- The Certified signing agent
- The loan agent
The correct answer and explanation is :
The correct answer is 2. The Certified Signing Agent (CSA).
Explanation:
A Certified Signing Agent (CSA) is a professional who acts as a third-party witness in the signing of legal documents related to loans, particularly real estate transactions such as mortgages. The CSA ensures that the borrower or signer fully understands the terms and conditions of the loan or legal documents they are signing and witnesses the signing process. While they do not offer legal advice, their role is to facilitate the process and make sure all necessary paperwork is correctly signed and executed.
The CSA typically works with notaries public to ensure that the documents are properly executed and that the parties signing are properly identified and not under duress. They are often employed in the real estate industry to assist with mortgage loan documents and other important paperwork. The CSA ensures that all documents are accurately completed, signed, and notarized before being submitted back to the lender or other relevant parties.
Roles of the CSA:
- Verification of Identity: The CSA confirms the identity of the signer, ensuring they are who they say they are, usually through government-issued identification.
- Document Signing: The CSA watches the signer as they sign the documents, ensuring all necessary signatures are in place and that the signer has the legal capacity to sign.
- Witnessing the Process: They also act as a neutral third party, making sure the signing is done without any coercion or fraud.
- Document Completion and Return: Once the documents are signed, the CSA ensures they are complete, properly executed, and then returns them to the lender, title company, or other parties involved in the transaction.
The closing agent, on the other hand, is responsible for the final step in a real estate transaction, which typically includes overseeing the closing process, explaining the final documents to the buyer and seller, and ensuring that the terms of the contract are met.
While the loan agent (also known as a loan officer) works with borrowers to secure a loan, they are not directly responsible for the signing process or the notarization of documents. Therefore, the Certified Signing Agent is the most appropriate professional for providing and recording documents.