A notary public is a representative of the state who witnesses the signing of significant legal papers in an objective manner. Oaths may be administered, signatures may be certified as genuine, and identities may be confirmed by notaries. They normally have a state-specific notarial act license, and the laws of different states may have different requirements for their obligations.
A signature agent, on the other hand, is a specialized notary that mortgage lenders, title firms, and signing services employ to speed up loan signings. The appropriate notarization, prompt return to the lender, and proper execution of all loan documents are the responsibilities of signing agents. They might also be in charge of informing borrowers of the loan’s conditions and responding to any queries they may have.
Loan signings can take many various forms, and signing agents may participate in any of them. The signing of a refinance loan, which takes place when a borrower remortgages an existing mortgage, is one of the most frequent. Purchase loan signings, when a borrower buys a new home, and reverse mortgage signings, where older homeowners use the equity in their homes to supplement their retirement income, are examples of other loan kinds.
You normally need a printer and internet connectivity in order to print loan documentation. Digital versions of loan paperwork are frequently offered by lenders and signing services, and these copies can be downloaded and printed. Additionally, make sure you have the right kind and size of paper, as well as enough ink or toner, to print all the required pages.
In conclusion, signing agents are professionals who facilitate loan signings even though notaries also play crucial roles in the legal process. In order to ensure that your loan documents are correctly signed and notarized, if you’re applying for a loan, make sure you deal with a licensed signing agent. Additionally, be sure to carefully follow the directions given by your lender or signing service if you need to print loan documents.