Posted by CA notary on March 23, 2009, 10:14 am, in reply to "Great, Renee...an explanation any B can 'get'."
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I totally agree, Lee. Not to mention, a great explanation that any notary can get, too. And there are PLENTY of notaries that would have a hard time explaining this clearly to the borrower, making the hurtful response last week to Pat even more unnecessary. (After all, this is supposed to be the board where notaries should feel free to ask just about anything (except "what's a jurat?") and not get insulted for it.)
In any case, thank you, Renee, and do you have an equally succinct and friendly way of defining APR to the borrower? I can't count the times at the signing table where the LO or Realtor launches off into this complex mind-messing mumbo jumbo about APR after which the poor borrower still has no idea what they said but just nods cos they want 'em to shut up. Mostly, I say "It's the cost of all the credit, blah blah," but I'm not too comfortble with that, though it seems to work. Maybe they just want me to shut up, too. So give us another apple story (or oranges). Thanks!
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