Unless your daughter is a licensed attorney or a licensed title agent, I do not believe she can mark up a binder at closing.
What education and licensing does she have?
Who is hiring her? The lending bank? The Closing Attorney office? The Title agency office?
"Marking up the binder" in a real estate transaction is guarenteeing ALL parties that the marked up commitment/binder is now the same as the final policy. It cannot be changed once it is marked up since the CLOSER (as in attorney or title agent) is acting in behalf of the clients.
A Notary is always to be a 3rd party uninterested.
Here's the info directly from the State of NY Licenses.
See A - D - Looks to me like she'd need to be title licensed.
- performs one or more of the following functions:
- Collects, remits or disburses title insurance premiums, escrows or other related funds;
- Prepares, amends, marks up or delivers a title insurance commitment or certification of title for the purpose of the issuance of a title insurance policy by a title insurance corporation;
- Prepares, amends or delivers a title insurance policy on behalf of a title insurance corporation; or
- Negotiates the clearance of title exceptions, in connection with the issuance of a title insurance policy.
https://www.dfs.ny.gov/apps_and_licensing/agents_and_brokers/lic_app_tlato post a reply:
login - or -
register