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Loan Signing Agents Vs. Notary Publics – Unpacking the Difference

When it comes to legal documents and financial transactions, the roles of notary publics and loan signing agents often intersect, leading many to wonder if there’s a distinction between the two. While both professions involve notarizing documents, there are significant differences in their responsibilities, specialties, and the types of transactions they handle. In this blog, we’ll delve into the distinctions between loan signing agents and notary publics to clarify their unique roles.

Notary Publics: Guardians of Document Integrity

A notary public, often simply referred to as a notary, is a public official authorized by the state government to serve as a witness to the signing of important documents. Their primary responsibility is to verify the identity of the signers, ensure they are of sound mind, and confirm their willingness to sign the document voluntarily.

Key responsibilities of notary publics include:

  1. Notarization: Notaries notarize a wide range of documents, including wills, deeds, affidavits, power of attorney, and more. They add their seal and signature to provide legal certification, making the documents legally binding.
  2. Verification: Notaries verify the identity of the signers, often by checking government-issued identification. They also ensure that the signers understand the content of the document and are not under duress.
  3. Impartiality: Notaries must remain impartial and cannot have a financial interest in the documents they notarize. Their role is to prevent fraud and maintain the integrity of legal documents.

Loan Signing Agents: Facilitators of Mortgage Closings

Loan signing agents are specialized notary publics who focus on a specific niche: facilitating mortgage loan closings. Their primary responsibility is to ensure that mortgage documents are signed accurately, witnessed properly, and returned promptly to the lender or escrow company.

Key responsibilities of loan signing agents include:

  1. Loan Document Expertise: Loan signing agents are well-versed in the specific documents involved in mortgage closings, such as the promissory note, deed of trust, and settlement statement.
  2. Borrower Guidance: They guide borrowers through the signing process, ensuring that all documents are completed correctly and signatures are properly executed.
  3. Secure Document Handling: Loan signing agents are responsible for securely handling and returning the loan documents to the lender or escrow company.

The Bottom Line: Different Roles, Shared Expertise

In summary, notary publics and loan signing agents share the expertise of notarizing documents, but their focus and responsibilities differ significantly. Notary publics serve as guardians of document integrity, verifying the identity of signers and ensuring the legality of various documents. On the other hand, loan signing agents specialize in mortgage loan closings, guiding borrowers through the signing process and ensuring the proper execution of loan documents.

It’s important to choose the right professional for your specific needs. Whether you require the notarization of a will or the closing of a mortgage loan, understanding the roles and responsibilities of notary publics and loan signing agents can help ensure that your documents are handled accurately and efficiently.

Author: Vandana

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