Loan Package

Loan Package Contents:

Definition:
A Loan Package is a set of documents prepared by a lender during a real estate transaction that requires signatures, initials, and often notarization. Loan packages are commonly used for mortgage closings, refinancing, home equity loans, and property purchases.

What’s Inside a Loan Package?

A typical loan package can include anywhere from 100 to 200 pages, depending on the lender and type of transaction. Common documents include:

• Promissory Note – The borrower’s promise to repay the loan.

• Mortgage or Deed of Trust – Secures the property as collateral for the loan.

• Closing Disclosure (CD) – Details the final loan terms, interest rate, and closing costs.

• Truth in Lending (TILA) Disclosure – Explains the loan’s APR and finance charges.

• Notice of Right to Cancel (NRTC) – Applies to certain refinance loans, allowing borrowers to cancel within three days.

• Escrow and Tax Forms – Outline property tax and insurance arrangements.

• Affidavits and Certifications – Various sworn statements, some requiring notarization.
  
  

The Role of a Notary Signing Agent

Lenders often require a Notary Signing Agent (NSA) to handle loan packages because:

1. Many documents need notarization, including deeds and affidavits.

2. Accuracy is critical—errors can delay funding or invalidate the loan.

3. Borrower identity must be verified before signatures can be notarized.
   
   

A qualified notary signing agent ensures all signatures, initials, and notarizations are properly completed and returned to the lender without delay.

Why Loan Packages Matter to Clients

• They finalize your mortgage or refinance.

• Errors can delay closing or loan funding.

• Correctly completed packages protect your property ownership.
  
  

Why Loan Packages Matter to Notaries

• Loan packages are the bread and butter of a notary signing agent business.

• Proficiency in handling loan packages can lead to more signing assignments and higher income.

• Training through a loan signing or notary certification course is highly recommended.
  
  

Related Glossary Terms

• Notary Signing Agent

• Closing Disclosure

• Deed of Trust

• Acknowledgment
  
  

Learn How to Handle Loan Packages Like a Pro

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