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Notary Public V/S Loan Signing Agent, What’s The Difference?

Home » Notary Public V/S Loan Signing Agent, What’s The Difference?
Notary Public V/S Loan Signing Agent
After reading the title of this blog, you must be wondering:

Aren’t Notary Public and Loan Signing Agents the same?

Well, they are the same from the core, but both carry their own individualities regarding the duties they serve!

Well, we are not blaming you for this confusion. It is likely to get skeptical about this, especially for someone alien to notarization and its technicalities. Some of our clients have also questioned us regarding the same! That’s how we sensed the need to untangle these terms to give you a better picture of both.

Without any further ado, let’s get started !

What is a Notary Public?

A notary public is an individual commissioned by the state to carry out notarial acts in the state. The state registers the notary’s signature and issues a notary stamp, in addition to a journal. Thereby the notary public gets access to perform the notarizations and keep a record of the same.

Our Notarization Process

1. Fill up the online application with your details.

2. Upload Your Documents

3. Get Approved and Receive your Documents On Your Email.

Role of Notary Public:

During the notarization, the notary public makes sure that the;

  • The identity of the Signer is authentic
  • The Signer knows the intent of the document.
  • The Signer signs the document with his/her free will.

Once assured with all three, the notary public notarize the document by witnessing the Signer’s signature and attaches a notary stamp after signing the document. Most states also demand the notary public to maintain a journal of each notarial act and maintain it for a required time period.

The notary public can verify the Signer’s authenticity either by Personal Knowledge, Government-issued identity proof, or credible witnesses.

The notary agent charges the Signer as per the number of signings.

Type of document a notary public notarizes
The notary agent has the authority to notarize either financial, business, or legal documents. Some of them are mentioned below as:

  • Financial documents
  • Government Forms
  • Promissory Notes
  • Affidavits
  • Protesting a bill for non-payment
  • Prison Inmate documents
  • Documents for Apostilles
  • Foreign Adoptions
  • Lease Agreements
  • Vehicle Title Transfer
  • Wills
  • Living Trust Documents
  • Pension and Retirement documents
  • Investment Documents
  • Personal Statements
  • DMV Traffic School Final Exam
  • Certified Copy of non-recordable documents
  • Declaration of lost or stolen passport
  • Business contracts
  • Incorporation
  • Bill of Sale
  • Proof of residence
  • School district residency
  • Declaration of guardianship
  • Name Changes
  • Travel consent
  • Declaration of common-law union
  • Premarital Agreements
  • Transfer of property ownership
  • Real Estate Documents
  • Residential Loan documents
  • Loan closings
  • Title Escrow closings
  • Deeds of Easement
  • Quit Claim Deed
  • Deeds Releases
  • Grant Deeds
  • Lien Releases
  • Mortgage closings
  • Real Estate
  • Dissolution of Marriage
  • Durable Power of Attorney
  • Bank Power of Attorney
  • Certified Copy of Power of Attorney
  • Medical treatment consent
  • Advanced Medical Directives
  • Medical records
  • Business Partnerships
  • Professional licensing
  • Employment forms
  • Business documents
  • Adoption papers

And many more.

What is a Loan Signing Agent?

A notary public commissioned in the state to carry a notarial act and also certified to carry the whole loan signing process is called a Loan Signing Agent. Along with having an active notarial stamp issued by the state, the Loan signing agent goes through a background check and certification that prepares them to carry borrowers over the complete loan signing process.

Role of Loan Signing Agent:

  • The identity of the Signer is authentic
  • The Signer knows the intent of the document.
  • The Signer signing the document with his/her free will

Once assured of the above, the Loan Signing Agent will

  • Follow every advised instruction by the mortgage company or required organization
  • Answer all the questions of the Signer regarding the loan process
  • Runs the Signer through complete paperwork related to Loan completion
  • Get the signature of the Signer in each and required position of the document
  • Attaches their notary seal and signature
  • Charge the Signer as per the cost of running the Signer through the whole loan signing process.
  • Submit the document to the mortgage company or required organization

Type of document a Loan Signing Agent notarizes:

The Notary loan signing agent does not notarize all the documents, but some of them include the loan signing process related to mortgage and real estate industries. Some of them are mentioned as follows;

  • Piggyback Loans
  • Reverse Mortgage Loans
  • Commercial Loans
  • Seller Packages
  • Purchase Loans
  • Equity Loans and Lines of Credit
  • Loan Modifications
  • Tax Loans
  • Refinance Loans

etc.

What is the difference between a Notary Public and Loan Signing Agent?

So, there you have it!

All Loan Signing agents are Notary Public. But!
All Notary Publics are not Loan signing agents!

A loan signing agent does all the tasks that a notary public does, including ensuring the Signer’s identity, checking if the Signer knows the document’s intent, signing the document with his/her own will, and after that, notarizing the document. Along with this, the loan signing agent Texas will run the Signer through the full loan documentation and clear all the doubts of the Signer regarding the loan signing.

The Loan signing agent holds a signing agent license or additional certification to acquire the authority to do all the above tasks. At the same time, he/she is commissioned by the state too. The loan signing agent will charge the Signer for notarizing the document and acknowledging the Signer about all the details related to the Loan document.

Talking about the notary public, they will just carry the notary public duties as the state commissions them to notarize the document by adding the notary stamp and signature. Other than this, the notarial public won’t have any role and will charge the signer per signature notarization for notary signing.

Where can I find a Notary Public or a Loan Signing Agent?

Electronic Notarization:

Unlike the traditional approach where you had to visit the notary public or the loan signing agent Florida all by yourself, just to enhance your comfort, Electronic notarization eliminates your need to leave your location. The notary public or the loan signing agent will come to your place at your designated time. LottaLegal provides this service for the Electronic notarization process goes as follows:

  • You need to book an appointment with the notary public or the loan signing agent, mentioning the required details on the form.
  • The notary public or your loan signing agent will reach your place to complete the signings process.
  • At last, the notary public or your loan signing agent will make an electronic copy of the document. They will attach an electronic signature and eSeal to finalize the signing. You can download this notarized document from your provided email address.

Note: Notary Public and Loan signing agents will carry their respective roles before notarizing the document.

Remote Online Notarization

To take comfort to a whole new level, Remote Online Notarization was brought into the picture. Neither the notary public/loan signing agent nor you have to leave your location. The entire process is carried out online via audio-video call. Lottalegal can help if you also want to access the online approach. Our process of Remote online notarization goes as follows;

Fill out our form and book your appointment by filling up the required details.
Once done, our notary (Loan signing agent or notary public, whatever you choose) will connect with you via audio-video call.
After completing the notarial act, you will receive your finalized document via email.

Note: Notary Public and Loan signing agents will carry their respective roles before notarizing the document.

Published : May 20, 2022
Jasper Becky

Jasper Becky

Author

Jasper Becky is a Famous legal writer. She was a notary public herself; at the same time, she loved writing and wrote some great pieces all along with her career as a notary. A few years back, she switched to full-time writing. Being a notary public in the past, she has excellent knowledge and has a nice grasp regarding laws and rules in America. She is a wife and mother of two girls plus one cute dog. She likes to spend time with her family and cook for them. 

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