A Notary Signing Agent is a Notary who has been trained to handle loan documents. Lenders and title companies hire Signing Agents as independent contractors to assist in the last step of the loan process.
Have you ever had to get a document notarized and wondered what exactly a notary public does? Or maybe you’ve heard the term “loan signing agent” and weren’t sure how they differ from notaries Notaries public and loan signing agents serve important roles in verifying identities and witnessing the signing of legal documents But they aren’t exactly the same,
In this article. we’ll break down the key differences between notaries public and loan signing agents. including
- What each role entails
- How each one assists with document signings
- The training and certification required
- How to find a notary public or signing agent
Understanding the distinctions between these two types of professionals can help you make an informed choice when you need documents notarized or signed off on
What is a Notary Public?
A notary public is an official authorized by the state to perform certain legal formalities. Some of the main services notaries provide include:
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Verifying identities – When you sign a document in front of a notary, they will check your ID to confirm you are who you claim to be. This helps prevent fraud.
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Witnessing signatures – By watching you sign a document, the notary verifies you did in fact sign it. This protects all parties involved.
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Certifying copies – Notaries can also make certified copies of documents, verifying that the copy matches the original.
Some examples of documents that commonly require a notary public include:
- Powers of attorney
- Affidavits
- Real estate deeds
- Wills and trusts
- Loan documents like promissory notes
- Business agreements and contracts
Notaries do not provide legal advice – they simply confirm identities and witness the signing process. They focus on the formalities rather than the content of documents.
What is a Loan Signing Agent?
A loan signing agent is a specialized type of notary public who assists with loan closings and signings. They have all the basic powers of a notary, but with additional training and certification related to loan documents.
Some of the specific duties of a loan signing agent include:
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Reviewing loan documents – The signing agent ensures all paperwork is present and accurate before signature.
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Explaining documents to borrowers – Signing agents are trained to explain loan terms in plain English so borrowers understand what they’re signing.
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Obtaining signatures – The agent will oversee the borrower signing all necessary documents and notarize where required.
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Completing closing tasks – Agents may assist with final closing tasks like disbursing loan checks.
Loan signing agents are especially common for mortgage closings, car loan signings, and other lending processes. Their expertise focuses on loans rather than general notarization.
How Do the Roles Differ?
While notaries and signing agents both deal with document signings, there are some notable ways the two professions differ:
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Focus – Notaries public verify identities and witness any type of signature, while signing agents specialize in loan documents only.
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Expertise – Signing agents have advanced knowledge of loan processes and paperwork that general notaries lack.
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Guidance – Signing agents educate borrowers on loan terms and explain the documents being signed. Notaries do not provide this guidance.
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Certification – Signing agents obtain loan-specific certifications on top of basic notary commissioning.
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Notaries public = general notarization services
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Loan signing agents = notaries with loan-focused expertise
While signing agents have a more specialized skillset, both roles serve a valuable purpose in verifying identities and signatures.
Becoming a Notary Public
The requirements to become a notary public vary by state, but generally involve:
- Being 18+ years old
- Passing a background check
- Having no felony convictions
- Completing a notary application and paying fees
- Taking a notary education course in some states
- Passing a notary exam
The average total cost ranges from $100-$300 depending on your state. Approved notaries receive a commission certificate that is valid for 4-10 years.
Notaries must follow their state’s notary laws and renew their commission when it expires. It’s relatively straightforward to get started as a notary with some basic education and exam preparation.
Becoming a Loan Signing Agent
To become a loan signing agent, you must first become a commissioned notary public. On top of that, signing agents need:
- Advanced education in loan processes and documents
- Certification training specific to loan signings
- Passing of a signing agent exam
Some options for getting certified include:
- Taking an in-person signing agent training workshop
- Completing online courses and webinars
- Studying self-guided training manuals
Certification typically costs $200-$300. Signing agents also need to keep their underlying notary commission active and stay up to date on the latest regulations and loan industry standards.
Finding a Notary or Signing Agent
When you need to get your documents notarized or signed, here are some options for connecting with a qualified professional:
In-Person Notary Public
- Your bank or credit union
- Mail and shipping stores
- Local government office
- Independent mobile notary services
Loan Signing Agent
- Mortgage lender
- Real estate settlement company
- Independent mobile signing agents
Remote Online Notarization
- Your bank may offer remote notary services
- Independent online notaries and signing platforms
Be sure to verify a notary or signing agent is properly commissioned before using their services. Reputable professionals should provide their commission details upfront.
Key Takeaways
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Notaries public and loan signing agents both facilitate document signings, but have some distinct differences.
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Notaries provide general notarization services for any type of document. Signing agents specialize in loan paperwork.
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Signing agents have advanced training on loan documents and processes to guide borrowers.
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Becoming a notary public has lower barriers to entry than becoming a certified signing agent.
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When you need documents notarized, you can find professionals through banks, legal offices, real estate firms, and independent services.
How do Signing Agents make money?
Notary Signing Agents are independent contractors and decide how much they charge for their signing services. As contractors, Signing Agents typically charge per assignment, ranging from below $100 to a couple of hundred dollars. The amount you make will be based on how many assignments you can complete in a day.
Other factors that affect the cost of an assignment is the contracting company, whether youre working for a lender or an escrow office, and their budget. In addition to the notarization fees set by state law, Signing Agents can also charge for courier services, which includes printing and delivering completed loan packages to the contracting company. All fees should be agreed to before the signing.
What do Notary Signing Agents do?
The responsibilities of a Notary Signing Agent generally include printing loan documents, meeting the signer and notarizing their signature, and quickly returning the documents for processing. NSAs are also responsible for following any additional instructions from the lender, title company or signing service that hires them for loan closing work. For example, an NSA may be asked to fax back documents right away or use a specific mailing service to return the paperwork safely.
Since Notary Signing Agents have access to private financial information about borrowers and are sent into their clients home, the mortgage finance industry requires all Signing Agents to undergo a background screening on an annual basis. This helps prevent mortgage fraud and ensures the consumers information is secure.
Notary Public vs Signing Agent aka Loan Signing Agent aka Notary Signing Agent! Quick Training!
FAQ
What type of notary makes the most money?
How much does a loan signing agent make in California?
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Annual Salary
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Hourly Wage
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Top Earners
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$78,952
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$38
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75th Percentile
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$69,100
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$33
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Average
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$54,283
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$26
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25th Percentile
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$41,400
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$20
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What can a mobile notary do in Georgia?
What is the difference between a loan signing agent and a notary public?
The difference between loan signing agents (LSA) and notary publics is that loan signing agents are explicitly trained and authorized to assist borrowers with loan and mortgage documents. In addition to notarization, an LSA is tasked with ensuring the documents are executed correctly and filed on time to secure the loan.
What is a notary signing agent?
A notary signing agent, or loan signing agent, is a specialized notary who is trained and certified to handle and notarize loan documents. While they have all the skills and authority of a traditional notary, notary signing agents bring an extra layer of to the table when it comes to handling loan-related paperwork.
What happens if a notary signs a mortgage loan?
As such, the NSA credential brings added pressure; notary signing agents perform a vital role in deals worth hundreds of thousands of dollars. If something goes wrong during a loan signing and an NSA’s error causes a mortgage loan to go unfunded, the signing agent can be held responsible.
What is the difference between a mobile notary and a signing agent?
The main difference between a mobile Notary and a Notary Signing Agent is the focus of their work. While Notaries encounter a wide variety of documents, Signing Agents specifically handle home loan documents.
Do you need a notary signing agent for a real estate transaction?
This doesn’t mean, however, that every real estate transaction requires a notary signing agent. In some instances, a regular notary could be sufficient if there are legal documents to be authenticated but no loan documents to be handled.
Are all signing agents loan signing agents?
All signing agents are notaries — but not all notaries are loan signing agents. Becoming an LSA requires additional certification and training. The job of a notary is fairly limited in scope, so they stamp a wide variety of paperwork. LSAs, on the other hand, are trained to process loan documents.