What’s the difference between a Notary Public and a Loan Signing Agent?

Loan Signing Agent

• Specialized Role: A loan signing agent is a type of notary public who specializes in the signing of loan and real estate documents. They are often involved in the final steps of a loan transaction, ensuring that all necessary paperwork is completed and signed correctly.

• Responsibilities:

  • Facilitate Loan Signings: Handle the signing of loan documents, including mortgage agreements, closing disclosures, and other related paperwork.

  • Explain Documents: Provide a brief explanation of the documents to the borrowers, though they cannot offer legal advice.

  • Ensure Accuracy: Verify that all forms are properly filled out and signed, and that all required signatures and initials are present.

  • Submit Documents: Ensure that completed documents are returned to the lender or title company in a timely manner.

• Scope: Loan signing agents focus specifically on loan and real estate transactions, which often require more specialized knowledge and handling.

• Certification: In addition to being a notary public, a loan signing agent often obtains additional training or certification related to loan signings and may work with signing services or title companies.

Notary Public

• General Role: A notary public is a public official authorized to perform notarizations for a variety of documents, including legal and financial papers. Their primary function is to act as an impartial witness to the signing of documents and to verify the identity of the signers.

• Responsibilities:

  • Verify Identity: Confirm the identity of the signer using valid identification.

  • Witness Signatures: Observe the signing of documents to ensure it is done willingly and without coercion.

  • Notarize: Apply a notarial seal and signature to certify that the notarization was conducted correctly.

  • Maintain Records: Keep a record of notarizations performed, often in a notary journal.

• Scope: Notaries can handle a wide range of documents, including affidavits, powers of attorney, and contracts, among others. Their services are not limited to any specific type of transaction.

• Certification: The requirements to become a notary public vary by state, but generally include passing an exam, undergoing a background check, and completing a notary education course.

What does a Notary Signing Agent do?

A notary signing agent is a professional who specializes in facilitating the signing of important legal documents. Their primary role is to verify the identity of the signers, ensure that they understand the documents they are signing, and witness the signing process. Here are the key aspects of their job:

• Verification: They confirm the identity of the signers using valid identification and ensure that all parties are who they claim to be.

• Document Review: They review the documents to ensure they are complete and ready for signing. This might involve checking for missing pages, signatures, or notarial certificates.

• Signing Process: They oversee the signing of the documents, making sure that all required signatures, initials, and dates are correctly completed.

• Notarization: They apply their notarial seal and signature to the documents, which certifies that the signing process was conducted properly.

• Legal Compliance: They ensure that the signing and notarization comply with state and federal laws and regulations.

• Record Keeping: They maintain accurate records of their notarial acts, including a journal of the documents they have notarized and the details of the transactions.

• Travel: Many notary signing agents offer mobile services, traveling to clients' locations for convenience.

• Communication: They often coordinate with lenders, real estate agents, or attorneys to schedule signings and address any issues that may arise.

In essence, notary signing agents play a crucial role in ensuring that legal and financial documents are signed correctly and in accordance with the law.

What is RON? (Remote Online Notarization)

Remote Online Notarization (RON) allows individuals to complete notarizations via an electronic device and a secure internet connection, providing a convenient and efficient alternative to traditional in-person notarization.