THURSDAY THINK TANK - Notary Signing Agent Code of Professional Responsibility Guiding Principle #1 - Qualifications
QUALIFICATIONS
ARE YOU QUALIFIED?
Are you a commissioned Notary Public wondering if you qualify as a Notary Loan Signing Agent? In order to be a qualified Loan Signing Agent, you must meet the following requirements:
1) You must have a current Notary Public Commission
2) You must take a Loan Signing Agent Certification Course and have received a certificate of completion
3) Pass a Background Check
4) Purchase Signing Agent Supplies
5) Purchase Errors & Omissions Insurance
6) Comply with all Signing Professionals Workgroup standards
Notary loan signing agents play a crucial role in the loan closing process, ensuring that the documents are executed correctly. Here are some reasons why qualification is essential for this role:
1. Legal Requirements: Notaries public are public officials appointed by the state government to act as impartial witnesses in various legal matters, including loan signings. To become a notary, you must meet the legal requirements set by your state, which may include being a resident, having a clean criminal record, and passing an exam or training course.
2. Knowledge and Expertise: Loan documents are complex and can have significant financial implications for the parties involved. A qualified notary loan signing agent is expected to have a solid understanding of these documents, including mortgage agreements, promissory notes, and other financial contracts. This knowledge is crucial to ensure that the borrower understands the terms of the loan and is signing the documents willingly.
3. Preventing Fraud: One of the primary roles of a notary loan signing agent is to prevent fraud by verifying the identity of the parties involved and confirming that they are signing the documents voluntarily. Without proper training and qualification, there's a higher risk of fraudulent activities during the loan signing process.
4. Liability and Errors: Mistakes or errors in the loan signing process can have serious legal and financial consequences. A qualified notary loan signing agent is trained to minimize the risk of errors, such as missing signatures or improperly completed documents.
5. Ethics and Professionalism: Notary loan signing agents are expected to adhere to a strict code of ethics, which includes impartiality, confidentiality, and integrity. Qualification and training help ensure that agents understand and uphold these ethical standards.
6. Lender and Borrower Confidence: Lenders and borrowers expect that the loan signing process will be handled professionally and competently. A qualified notary loan signing agent is more likely to instill confidence in all parties involved, which can lead to smoother transactions.
7. Ongoing Education: The financial and legal landscape is constantly changing. Qualified notary loan signing agents often engage in ongoing education to stay up-to-date with industry changes, regulations, and best practices. This ongoing learning is crucial to maintaining their qualifications and effectiveness.
In summary, becoming a qualified notary loan signing agent involves meeting legal requirements, gaining the necessary knowledge and expertise, adhering to ethical standards, and maintaining professionalism. These qualifications are essential to ensure the integrity and legality of the loan signing process and to protect all parties involved from potential legal and financial risks.
NOTARY SIGNING AGENT ERRORS & OMISSIONS INSURANCE
Notary Know How is a State of Alabama Licensed Insurance Producer and we offer NSA Errors & Omissions Insurance. An NSA E&O Policy is different than a standard E&O policy and it offers more coverage for the Loan Signing Agent.
Notary Signing Agent E&O Insurance
BACKGROUND CHECKS
Due to direct access to private financial information, the mortgage industry has mandated annual background screenings for Notary Signing Agents and everyone involved during a loan signing. We have partnered with Checkr.com to provide Background Screenings.
Background Checks
Notary Supplies
Notary Know How is proud to partner with one of the largest suppliers of notarial office supplies in the United States, Anchor Rubber Stamp. They offer high quality Notary Supplies and Affordable Notary Public Supplies are their specialty. Anchor Rubber Stamp specializes in Notary Stamps and Seals, Notary Books and Journals, Notary Supply Kits and more. They have been in business since 1935 and are located in Brick, New Jersey. Anchor Rubber Stamp is owned and operated by 3rd generation stamp makers. Because ARS is a manufacturer, there is no middleman. This allows them to be able to offer high-quality products at competitive prices with incredibly fast delivery. Orders are processed and shipped within 24-48 hours (except for weekends and holidays).
