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1 July, 20:05

Explaining to a borrower the fees that make up the Annual Percentage Rate (APR) of a borrower's loan is:

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  1. 1 July, 20:06
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    Answer: b. Permissible if the Notary Signing Agent has the breakdown of the fees

    Choices are:

    "A. prohibited under all circumstances, regardless of the Notary Signing Agent's level of expertise"

    "B. permissible if the Notary Signing Agent has the breakdown of the fees"

    "C. recommended in order to convince the borrower he or she is getting a fairly priced best loan"

    "D. encouraged in order to provide superior customer service to the borrower"

    The notary is allowed to explain the fees that make up the Annual Percentage Rate (APR) of a borrower's loan but he is not allowed to comment on its source, its accuracy, or his opinion of the information.
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