What is a Notary Signing Agent and Why Do I Need One?
A Notary signing agent is an individual who is trained specifically to handle bank documents known as loan applications. Many title businesses and lenders hire Signing Agents as freelancers to help in the final stage of the lending process known as "Loan Acceptance". This final step involves passing an application through a series of review stages that include, notarizing the documents, preparing the signed documents by hand, and then signing them in front of a notary public. To ensure that the loan application is handled appropriately, many financial institutions employ a Notary signing agent as a back-up for a loss prevention employee who signs the documents in lieu of an employee who cannot sign.
The Notary Public will verify the identity of the borrower, obtain title and address information, verify that the information provided is true and correct, and then either issue or deny the loan. The process is generally quite straightforward, especially in light of recent technological advancements such as Remote Online Notary Services (ROS). Most banks today use remote notary signing services to speed up the lender approval process when a title or mortgage loan is executed. However, some notaries are able to perform the loan steps in an automated fashion via remote online notarization.
Many people assume that taking a Notary signing agent course will help them notarize documents they need for their own business. This is true; however not every state requires aspiring notaries to take a notarizing course before they can notarize a document. In some states, a notary signing agent is required to take a notary signing class before he or she can legally take the state's notarized exam. Taking the notary signing agent course is the first step in becoming a notary public and is typically offered at a few colleges.
The majority of states require aspiring notaries public to pass a background check, fingerprinting, and drug testing. The daho notary signing agent also must pass an examinations which test the applicant's knowledge on the laws, rules, and terminology relating to signature requirements in their specific jurisdiction. In addition, the applicant must pass his or her fingerprinting examination in front of a neutral administrative judge. Most states require notary signing agents to complete a state-approved training program in order to meet these requirements.
Although notaries public generally have no legal authority to negotiate loan papers or enact any powers derived from the laws of their jurisdiction, they have the authority to seal and stamp documents, and execute the same by utilizing their official seals. Notary signing agent can also perform secretarial duties while a client is present for the signing of a loan or mortgage loan. There are a few businesses and organizations who offer notary signing agent services online. Some of these online businesses offer video notary signing services as well. This company has the best notary signing services.
Notary signing agents play an integral role in helping homeowners secure loans and mortgages. Homeowners need not wait until a financial hardship then to refinance or sell their property. Homeowners may have taken out a mortgage loan, but the lender has not yet approved the loan. If the borrower has not been approved for the loan, the property will be foreclosed and the lender will lose all of its money. If the borrower has already been approved for the loan, then the lender will perform the necessary actions in order to process the mortgage loan. Check out this post that has expounded on the topic: https://en.wikipedia.org/wiki/Notary_public.
