At first glance, it may not seem like there’s much difference between a standard notary public and a mobile notary loan signing agent. However, signing agents can offer some additional services that a typical notary cannot. Trending Notary provides both, and depending on the documentation you are dealing with, one might be better suited for your situation than the other. If you’re not sure which one you need, here’s a guide to the difference between the two.
Notary Public or Loan Signing Agent
Essentially, a notary public simply witnesses someone signing a document and verifies that person’s identity. They typically charge by the signature and usually deal with fairly simple, straightforward documents, such as property deeds, wills, trusts, and employment contracts.
All loan signing agents are also notaries, but they have additional training in the loan process. Many loan agreements can be significantly more complicated than the documents a regular notary handles, so having someone who understands the process and can also notarize the signatures can save time and money.
A loan signing agent can walk you through the lending process and make sure that you initial or sign everywhere necessary, which can help prevent delays in processing the paperwork due to a missed signature or other error. Loan agents typically charge a flat fee based on the length of time the appointment is expected to take and the complexity of the documents being reviewed.
Loan Signing Agent Requirements
Due to their additional duties and responsibilities, loan signing agents typically require additional training and screening. The exact requirements vary depending on the state, but typically they must undergo a background check and obtain a signing agent license or certification. Some may also hold additional credentials, such as a title insurance license.
Do You Need a Loan Signing Agent?
If you’re making a large or complicated purchase or financing decision, it can be a good idea to hire a loan signing agent to help you through the process. Paperwork errors can be a major headache or even cause a purchase to fall through, so it’s important to make sure things are correct on the first try. A signing agent can help ensure that happens.
Whether you’re looking for a notary or a loan signing agent, Trending Notary can help. Based outside of Union, NJ, our mobile notary publics are available to travel to you for all your notarization and document handling needs.