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November 17, 2023When it comes to the world of notarization, you may have encountered the terms "notary public" and "notary signing agent". While they both play crucial roles in the notarial process, there are distinct differences in their qualifications and responsibilities. In this blog post, we'll explore these disparities and similarities to help you better understand the roles of notary publics and notary signing agents.
Notary Public: The Basics
Notary public is a legal position established by state governments to serve as impartial witnesses and deter fraud in the execution of important documents. The primary duties of a notary public include:
- Verifying Signer Identities: Notaries are responsible for confirming the identities of document signers, often requiring government-issued identification.
- Ensuring Willingness: They must ensure that signers are willing participants and not under duress or coercion.
- Administering Oaths and Affirmations: Notaries can administer oaths or affirmations when required.
- Applying the Notarial Seal: Notaries affix their official seal to documents to indicate that they've witnessed the signing.
- Maintaining Records: Notary publics typically keep records of their notarial acts, which can be inspected as needed.
Notary Signing Agent: The Specialized Notary
A Notary signing agent (NSA), A.K.A loan signing agent, on the other hand, is a specialized type of notary public with additional training and specific responsibilities, often focused on real estate transactions. The key differences and responsibilities of an NSA include:
- Loan Document Signings: NSAs specialize in overseeing the signing of loan and mortgage documents, particularly in real estate transactions. They ensure that all documents are correctly signed, dated, and notarized.
- Mobile Services: NSAs often provide mobile services, traveling to the location of the signers, whether it's a home, office, or another convenient site.
- In-Depth Training :To become an NSA, additional training is required, covering topics such as the various real estate documents, industry terminology, and the specific protocols for loan signings.
- E&O Insurance and Bonds: Many states require NSAs to carry errors and omissions (E&O) insurance and, in some cases, a surety bond. This helps protect both the NSA and the clients in case of errors or negligence.
- E&O Insurance and Bonds: Many states require NSAs to carry Errors and Omissions (E&O) insurance and, in some cases, a surety bond. This helps protect both the NSA and the clients in case of errors or negligence.
- Specialized Knowledge: NSAs possess specialized knowledge of the real estate industry, including the specific requirements and regulations involved in loan signings.
- Client Relationships: Building strong relationships with real estate professionals, such as mortgage companies, title agencies, and signing services is crucial for NSAs to secure business.
Similarities between Notary Publics and Notary Signing Agents
While there are notable differences, there are also several similarities between notary publics and notary signing agents:
Notarial Acts: Both notary publics and NSAs perform notarial acts, including verifying identities, administering oaths or affirmations, and applying notarial seals.
Legal Authority: Identify the appropriate government department or agency responsible for apostilling services in your region. They will guide you through the process.
Ethical Standards: Notary publics and NSAs are bound by ethical standards and must act with impartiality, integrity, and professionalism.
Record-Keeping: Both are often required to maintain records of their notarial acts, ensuring transparency and accountability.
- Notary publics and notary signing agents share common ground in their notarial acts and ethical obligations, the specialization, training, and responsibilities of NSAs make them distinct from traditional notary publics.
- Understanding these differences can help individuals choose the right notarial service for their specific needs and provide clarity on the qualifications and roles of these important professionals.
- At The Closing Signing Service, we are the experts in providing notary signing services from coast to coast. Our prestige notaries are experts in real estate transactions, however, we can also do general notary work and notary estate planning documents, power of attorney, and much more! Visit our blog to learn more.
Contact our team today via email and let the experts handle your notarizations!
