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

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Common Terms 1   Common Terms 2

Oath

A solemn pledge or promise containing reference to a Supreme Being. A person who intentionally makes false statements under oath is punishable for perjury. A notary public may administer oaths as a notary...

Oath of Office

Notaries must take an oath of office before receiving their notary commission. The paperwork for their oath must be filed with the county clerk where their commission is based.

Oaths and Affirmations

Oaths and Affirmations are Notary acts that require a sworn statement that can be done in front of a notary public. Oaths mention god in the wording while affirmations omit any mentioning of a higher power.

Occupancy Affidavit

The Occupancy Affidavit is for the borrower to swear that they will be living in the property they are borrowing for rather than leasing the property to a third party. It is common for individuals who are investing in a...

Occupancy Affidavit and Financial Status

This is similar to the Occupancy Affidavit in that it has the borrower state that they will be residing in the property as their primary address as opposed to renting it out to another party. The occupancy affidavit and...

Official Notary Seal

A rubber stamp that all notaries must have that conforms to the laws and rules. An Official Notary Seal generally includes the Notary's name, county where commissioned, state, the words, "Notary Public", the notary's...

Origination Fee

The fee charged by the lender to prepare loan documents, make credit checks, inspect a property, and often appraise a property; usually computed as a percentage of the face value of the loan.

Owner Financing

A property purchase transaction in which the property seller provides all or part of the financing. Owner financing could have less restrictive or easier terms than bank financing.

Owner's Occupancy Agreement

The Owner's Occupancy Agreement is similar to an Occupancy Affidavit. The Occupancy Affidavit is for the borrower to swear that they will be living in the property they are borrowing for rather than leasing the...