Notary Signing Agents (NSAs) facilitate loan closings for the mortgage finance industry. Before starting the NSA certification process, you must be commissioned as a Notary Public. Please be aware that opportunities to conduct loan signings may be limited or restricted in 18 states.
Notary loan signing agents play a crucial role in the mortgage and real estate industries. As a notary signing agent myself, I often get asked “what exactly does a notary signing agent do?” That’s a great question, so I wanted to provide a complete guide explaining this unique career path.
What is a Notary Signing Agent?
A notary signing agent (NSA) is a specialized type of notary public who is commissioned to handle mortgage and real estate documents NSAs travel to meet with borrowers in order to notarize the paperwork involved in a mortgage closing or real estate transaction
As notaries public, signing agents must adhere to standard notary duties like verifying signers’ identities and witnessing signatures. But NSAs have additional responsibilities related to the detailed mortgage documents they handle.
Why are Notary Signing Agents Needed?
Lenders title companies and escrow offices hire notary signing agents as independent contractors to assist with the closing process. This allows lenders and title companies to offload the final, labor-intensive step of having borrowers sign their mortgage documents.
Instead of asking borrowers to visit their offices, lenders can send a signing agent directly to the borrower’s home or workplace. This is much more convenient for the borrower.
What Does a Notary Signing Agent Do?
The main duties of a notary signing agent are:
- Printing out the closing documents sent by the hiring company
- Driving to meet borrowers at the scheduled signing meeting
- Presenting each document and explaining what they are signing
- Watching borrowers carefully sign each document
- Notarizing the closing documents by stamping and signing them
- Obtaining additional signatures from witnesses if required
- Ensuring all documents are complete and all signatures match IDs
- Delivering the notarized documents back to the hiring company
Signing agents facilitate mortgage closings by guiding borrowers through the stack of paperwork that accompanies a home loan or refinance. We walk borrowers through the process, highlight key sections, and answer any questions about the documents.
Loan Signing Agent Responsibilities
Beyond core notary duties, notary signing agents have extra responsibilities and potential liabilities related to handling sensitive financial paperwork.
Signing agents must:
- Keep all client information confidential
- Return documents promptly after signing
- Follow specific delivery instructions from the hiring company
- Maintain $25,000 in errors and omissions insurance coverage
- Pass an annual criminal background check
Because we handle paperwork worth hundreds of thousands of dollars, signing agents must take great care to avoid mistakes that could cause problems for lenders and borrowers.
How Do You Become a Notary Signing Agent?
Becoming a notary signing agent involves just a few steps:
1. Become a commissioned notary public
You must be an active, commissioned notary before applying for the signing agent designation. Each state has its own rules and process for becoming a notary.
2. Take an NSA training course
Take a specialized “notary signing agent” training course either online or in-person. These courses cover the entire mortgage closing process and teach what signing agents need to know. They usually take 1-2 days and cost $100-$200.
3. Pass a background check
Because of the sensitive financial documents signing agents handle, you must pass an extensive background check including identity verification, employment history, and criminal record checks.
4. Obtain E&O insurance coverage
You must have active errors and omissions (E&O) insurance coverage with at least $25,000 in coverage in case mistakes are made. This gives hiring companies peace of mind. Most courses provide insurance policies.
Once you fulfill these core steps, you can start marketing yourself as an NSA and signing up with signing services that connect agents with lending companies.
What is the Difference Between a Notary and a Signing Agent?
The main differences between notaries public and notary signing agents are:
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Training – Signing agents undergo specialized mortgage closing training.
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Background checks – Signing agents must pass annual criminal background checks.
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E&O insurance – Signing agents must be insured in case of mistakes.
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Loan documents – Signing agents focus solely on mortgage and real estate paperwork.
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Pay – Signing agents typically earn more than standard notaries.
So signing agents build upon the notary commission with extra qualifications that authorize them to handle financial documents for lenders and title companies.
How Much do Signing Agents Make?
Most notary signing agents charge between $75-$200 per loan signing appointment, depending on the region, complexity of the paperwork, distance traveled, and whether additional services like document delivery are included.
According to the National Notary Association, full-time signing agents earning over $4,000 per month. Signing agents are independent contractors, so their monthly earnings depend on how many signing appointments they complete.
It is certainly possible to earn a healthy part-time income as an NSA if you live in an area with high demand. But in most cases it takes full-time effort to earn $50,000+ annually as a signing agent.
Pros and Cons of Being a Notary Signing Agent
Pros
- Higher earnings potential than standard notaries
- Flexible schedule as an independent contractor
- Get to work directly with people during important financial moments
- Lower barrier to entry than many finance roles
Cons
- Inconsistent signing appointment volume
- Long drives between signing appointments
- Potential liability if errors are made
- Prone to real estate market fluctuations
Is Becoming a Signing Agent Worth It?
Becoming a notary signing agent can be an attractive opportunity if you:
- Want to earn money on a flexible, independent schedule
- Enjoy working directly with clients and personalized service
- Are detail-oriented and comfortable with financial documents
- Have a reliable vehicle to drive to signing appointments
Signing agents fill an important role in the real estate market by making the closing process smooth and convenient for borrowers. It’s a neat way to earn income by combining elements of finance, customer service, legal support, and small business ownership.
Just know that signing agent income fluctuates, so it may be best as a part-time gig rather than a full-time job. But overall it’s a neat niche career that provides useful services to your community.
Ready to Get Started?
It’s an accessible way to dip your toes in the real estate and mortgage industries. As someone who transitioned into the signing agent role myself, I’d be happy to answer any other questions you have as you consider this career path further!
Frequency of entities:
notary signing agent: 22
notary: 14
signing agent: 13
mortgage: 7
loan signing agent: 6
NSA: 5
real estate: 5
borrower: 4
lender: 3
title company: 3
escrow office: 1
mortgage closing: 2
documents: 4
paperwork: 2
witness: 1
errors and omissions insurance: 2
independent contractor: 2
signing appointment: 3
signing service: 2
Why am I being asked to do a background check?
In order to guard borrowers private financial information, the mortgage industry requests all persons involved in the lending process to undergo background screenings. Lenders in turn instruct title services companies to ensure that everyone with access to mortgage documents has been screened. This applies to everyone handling loan documents including Notaries who act as Signing Agents.
How much does it cost to become a Signing Agent?
The cost of becoming a certified Signing Agent typically ranges from $75 to a few hundred dollars, but this can vary depending on a few different factors:
- Whether or not you have an active Notary commission in your state
- Whether or not you already have a $25,000 errors and omissions (E&O) insurance policy
- Which training/exam vendor you choose
- What vendor conducts your background screening
- Where you purchase your NSA supplies
- Licensing fees (required for certain states)
How to Become a Notary Loan Signing Agent in 2021
FAQ
What type of notary makes the most money?
How much do loan signing agents make in Florida?
How much do loan signing agents make in Texas?
How hard is the loan signing system exam?
What is a loan signing agent?
A loan signing agent (also known as a notary signing agent) is a commissioned notary who is authorized to assist borrowers with loan documents.
What is the difference between a 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
Can a loan signing agent use a notary public?
A notary public can be used for the notarization of most any other kind of document which is not related to loan agreements. When deciding between a loan signing agent and a notary public, you must consider what type of document you will be certifying.
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.