When it comes to the world of notarization, there is often confusion about the roles of a Notary Public and a Notary Loan Signing Agent. While both are authorized to serve as impartial witnesses during the signing of documents, their responsibilities, training, and focus can vary significantly. Understanding these differences can help clarify which type of notary you may need for a specific task or if you’re considering entering the field.

What is a Notary Public?

A Notary Public is an individual commissioned by the state to serve as an official witness to the signing of documents. Their primary role is to deter fraud by verifying the identity of signers, ensuring that they are signing willingly and under their own free will, and that they understand the contents of the documents they are signing.

Key Responsibilities:

• Identity Verification: Notaries are responsible for confirming the identity of the signer, typically through a government-issued ID.
• Administering Oaths: If required, a Notary Public can administer oaths or affirmations.
• Witnessing Signatures: A Notary Public witnesses the signing of documents to ensure that they are executed properly.
• Affixing a Seal or Stamp: After performing their duties, a notary affixes their official seal or stamp to the document, certifying the act of notarization.

Notaries are often involved in handling a variety of documents, including:

• Legal contracts
• Deeds
• Affidavits
• Powers of attorney
• Wills

While Notaries play a critical role in these transactions, they are not responsible for the content of the documents themselves, nor are they allowed to provide legal advice.

What is a Notary Loan Signing Agent?

A Notary Loan Signing Agent (LSA) is a Notary Public who has received specialized training in handling and notarizing loan documents for real estate transactions. While they perform the same notarization duties as a standard Notary Public, their expertise lies in understanding the complexity of loan documents, explaining them to borrowers (without offering legal advice), and guiding them through the signing process.

Key Responsibilities:

• Handling Loan Documents: LSAs are specifically trained to work with loan documents such as mortgage agreements, deeds of trust, promissory notes, and closing disclosures.
• Explaining Documents: LSAs help guide signers through the extensive paperwork associated with real estate transactions, providing clarity on what they are signing without stepping into the territory of offering legal or financial advice.
• Ensuring Correct Execution: LSAs ensure that all documents are signed, dated, and initialed correctly. Mistakes in loan document signing can cause delays in the real estate transaction process, which is why their role is so critical.
• Submitting Completed Loan Packages: Once the signing is complete, the LSA ensures that all documents are correctly organized and returned to the escrow or title company, lender, or attorney for processing.

Key Differences Between a Notary Public and a Notary Loan Signing Agent

1. Scope of Work:
   • A Notary Public can notarize a wide range of documents for various legal purposes, from affidavits to powers of attorney. Their role is to witness signatures and ensure the document is signed willingly and by the correct individual.
   • A Notary Loan Signing Agent focuses specifically on real estate loan documents and is often hired to facilitate the closing process for a mortgage or loan.
2. Training and Certification:
   • Becoming a Notary Public generally requires completing a state-approved course (if applicable), passing an exam, and receiving a commission from the state.
   • Notary Loan Signing Agents often undergo additional training and certification to understand the intricacies of loan documents. This specialized training is typically provided by organizations such as the National Notary Association (NNA).
3. Earnings Potential:
   • A Notary Public typically charges state-regulated fees for their services, which are often modest (e.g., $5-$15 per notarization in many states).
   • Notary Loan Signing Agents can charge significantly more, as loan signings often involve handling large, complex documents. Fees for a single loan signing can range from $75 to $200 or more, depending on the complexity and location.
4. Clientele:
   • Notaries Public serve the general public, including individuals, businesses, and legal professionals.
   • Notary Loan Signing Agents primarily work with mortgage lenders, title companies, and escrow officers, providing services that are essential in the closing of real estate transactions.

Choosing Between a Notary Public and a Notary Loan Signing Agent

The type of notary you need depends on the documents you are signing. If you are dealing with general legal documents or a one-time notarization, a standard Notary Public will suffice. However, if you are in the process of closing on a mortgage or refinancing your home, a Notary Loan Signing Agent is the expert you need to ensure that the loan documents are executed correctly.

For individuals interested in pursuing a career in notarization, becoming a Notary Loan Signing Agent offers the opportunity to specialize in a lucrative and high-demand area of real estate, while still retaining the general notarial duties required of a Notary Public.

Both Notaries Public and Notary Loan Signing Agents play critical roles in safeguarding the integrity of legal and financial transactions. Understanding their differences helps ensure that you hire the right professional for the job or choose the right path for your notarial career.