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Resources > Glossary > N

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Name Change

If a notary changes their name, they should check to see what their state's notary laws regarding name changes of notaries. Sometimes, the notary can continue using their existing commission provided that...

Negative Amortization

Negative Amortization, or "deferred interest," occurs when the mortgage payment is less than a loan's accruing interest. This causes a loan's balance to grow instead of reduce or "amortize." There are cases...


Failure to use sufficient care that would be expected of any other person in a similar situation. Failure to correctly fill out notary certificates and the notary journal would be negligence on the part of the notary public.

Net Effective Income

The borrower's gross income after federal income tax has been deducted. Net effective income is one of the statistics that a lender would need to use to determine if a potential borrower qualifies for a particular...

No Closing Costs

Some loans have no up front closing costs. In such a case, the closing costs are integrated into the loan amount. Having a loan with no closing costs was very popular in 2005 and 2006 when borrowers were over...

Non-conforming Loan

Also called a jumbo loan. A conventional home mortgage that is not eligible for sale and delivery to either Fannie Mae (FNMA) or Freddie Mac (FHLMC) because of various reasons, including loan amount, loan...

Notarial Act

A notary act is any act that a notary public of a particular state is authorized to perform, and includes taking an acknowledgment, administering an oath or affirmation, and taking a verification upon oath or affirmation...


The act of having a notary act performed. The act of having a signature on a document notarized. A notarization involves a notary public and at least one signer who must be present before the notary public.


To get a document notarized you need to appear before a notary public. To get an acknowledged signature or jurat notarized, you will need proper identification such as a government issued identification like a...


The past perfect of the completed process of notarizing a signature on a document. To get a document notarized you need to appear before a notary public. Please use 123notary.com as your source for locating a mobile notary...

Notarized Documents

Please contact one of the mobile notaries on 123notary.com and they will be able to notarize your document. Please do not ask them to draft a document as they are not attorneys and can not offer legal advice...

Notarized Letters

If you have a letter and you sign it and appear before a notary public with appropriate identification, then the notary can notarize your signature on the letter, and you would have a notarized letter...

Notarized Signature

A signature that has been acknowledged by a notary public. The signature would have to be within a document, and there must be notarial certificate wording....

Notarized Statement

A notarized statement is a statement that gets notarized. Sometimes statements will be embedded in a document while othertimes they could be subscribed within a notary certificate...


The act of notarizing or performing a notary act. The act of completing the notary paperwork to notarize a signature. The signer must appear before the notary public before any notarizing can legally occur.

Notary Act

Any official act of a notary public. A notary act or notarial act is an official act executed by a notary public such as an acknowledged signature, jurat, oath or affirmation.

Notary Commission

A notary commission is a term of office for a notary public appointed by the state they reside or work in. Each state has a notary division that is responsible for appointing and revoking notary commissions.

Notary Examination

An examination that one needs to take in order to become a commissioned notary public in a particular state. Not all states have notary examinations, but California and New York do among other states.

Notary Fee

The fee that a notary charges for their notary services. Notaries who travel to the location of their customer often charge a travel fee in addition to their notary fees.

Notary Handbook

A notary handbook is a manual that is intended to guide a notary through all of the basic notary procedures in their state such as Acknowledgments, Jurats, etc.

Notary Job

A job involving a notary public could be called a notary job. Notary jobs could include the notarizing of a single signature, or could involve the completion and supervision of a lengthy loan signing...

Notary Seal

An inked seal or embosser which is affixed on the notary certificate wording of a document or certificate to indicate that the signature(s) on the document have been notarized.

Notary Services

Notary Services are services rendered by a state commissioned notary public. These services include general notary acts such as ...

Notary Signing Agent

Before the 1990's, Notary Signing Agents were virtually unknown. Borrowers were expected to travel to the office of a lender, escrow agent or title firm to complete a loan. However, during the past decade...

Notary Supplies

Notary supplies include items such as acknowledgment pads, jurat pads, seals, bonds, and other certificate forms. Copy certification by document custodian is a very important, yet rarely carried item.


The Note is one of the most important loan documents that states the terms of the loan. The Note also discloses whether or not there will be a pre-payment penalty and could have the pre-payment penalty explained...

Notice of Assignment, Sale, or Transfer of Servicing Rights

This document authorizes the lender to transfer the servicing rights to another party. The servicer would be the one to collect monthly payments and handle customer service. It also authorizes the lender to sell the...

Notice of Right to Cancel

See, "Right to Cancel" This document applies only to principal residences only, and not investment or rental properties. A loan document that gives the borrower the right to cancel their loan within three days...

Notice to Applicant

The notice to applicant states that they have the right to receive a copy of their property's appraisal. The notice to applicant is a document that does not need to be notarized.

Notice to Borrower Impound Escrow Account

A document that includes the borrower's escrow account information. This document discusses what the borrower's taxes and insurance will cost in addition to principal and interest.