What does a Signing Agent Do?
A Signing Agent, also known as a Loan Signing Agent, is a specialized notary public who primarily focuses on facilitating the signing process for real estate loan documents, ensuring borrowers properly complete and sign all necessary paperwork, verifying their identities, and notarizing their signatures during a mortgage closing; essentially acting as a neutral third party to guide borrowers through the loan document signing process while ensuring accuracy and compliance with regulations.
Key responsibilities of a Signing Agent include:
- Reviewing loan documents:Carefully examining loan documents to verify accuracy and completeness, identifying any potential issues or discrepancies.
- Explaining loan terms:Clearly explaining the terms and conditions of the loan to the borrower so they understand what they are signing.
- Identity verification:Checking the borrower’s identification to confirm their identity before signing documents.
- Witnessing signatures:Observing the borrower as they sign each document and notarizing their signatures.
- Collecting necessary information:Obtaining any required signatures, initials, and dates on the documents.
- Returning documents:Sending the completed loan package to the lender or title company for processing.
Important points to remember about Signing Agents:
- Notary requirement:While not all notaries are Signing Agents, all Signing Agents must be commissioned notaries.
- Real estate focus:Their primary work is related to real estate transactions, specifically mortgage loan closings.
- Mobile role:Often travel to borrowers’ homes or other locations to conduct loan signings.
- Background checks:Due to handling sensitive financial information, Signing Agents usually undergo background checks regularly
