What Is A Notary Signing Agent? Everything You Should Know – Forbes Advisor

Earning a living as a notary can be difficult, with most full-time notaries making less than $4,000 per month. However, most states offer a dependable pathway for notaries to earn higher wages and take their small business to the next level: becoming an NSA.

NSAs are authorized to notarize signatures on loan documents, meaning they have access to borrowers’ personal financial information. As such, the NSA credential brings added pressure; notary signing agents perform a vital role in deals worth hundreds of thousands of dollars.

If something goes wrong during a loan signing and an NSA’s error causes a mortgage loan to go unfunded, the signing agent can be held responsible. But for thousands of Americans, including many retirees and parents seeking money on the side, working as an NSA is a reliable and financially rewarding full- or part-time gig.

If you’re a notary or interested in becoming one—or you’re just looking for new opportunities in the financial industry—you might consider becoming an NSA. Here’s what to know about what a notary signing agent is, including the steps to become one.

What Is a Notary Signing Agent?

NSAs are a type of notary public specially trained to work with loan documents. They walk signers through the final steps of a loan closing and have a public mission of ensuring no fraud has taken place. These professionals are typically independent contractors, and many work part time.

An NSA’s role is more involved than that of a notary; as such, signing agents often earn more than notaries. But with that earning power comes greater scrutiny and financial liability.

An NSA’s role is more involved than that of a notary; as such, signing agents often earn more than notaries. But with that earning power comes greater scrutiny and financial liability.

NSAs must also follow any additional instructions from the parties involved, which may include the lender, the title company or the signing service that hires them. For instance, the involved parties may require their NSA to use a specific mail service or shipping method.

It takes around one to two weeks for a notary to become an NSA, and the cost runs between $75 and several hundred dollars. But opportunities to become a signing agent are limited or restricted in several states, so check with yours before getting too invested in the idea.

The following states impose restrictions on NSAs, either by requiring attorney involvement or professional licensure or by limiting fees or loans:

• Connecticut
• Delaware
• Georgia
• Illinois
• Indiana
• Maryland
• Massachusetts
• Minnesota
• Nebraska
• Nevada
• New Jersey
• New York
• North Carolina
• Ohio
• South Carolina
• Texas
• Vermont
• Virginia
• West Virginia

How To Become a Notary Signing Agent

Become a Notary

Notary signing agents should first be state-commissioned notaries. To become a notary, you must be at least 18 years old and have state residency. Some states run a background check on all prospective notaries, while others only require this step for applicants with prior convictions.

Several states require training and testing to become a notary. Once candidates receive their state commission and purchase the requisite seal stamp and journal, they can begin notarizing documents for clients.

States have different rules and requirements for notaries, so check with your state.

Train and Test

Training and testing aren’t required to become a signing agent. However, completing a training course can help you pass voluntary certification exams, which in turn makes it easier to find work.

Training and certification are offered by organizations like the National Notary Association (NNA) and vendors like Loan Signing System. The NNA’s training covers loan documents and other fundamentals of loan signing, along with ethical principles like protecting client privacy and security. This training typically lasts several hours.

Get Screened

Because signing agents are entrusted with sensitive client financial information, NSAs are subject to greater scrutiny than standard notaries. Title companies are required by the Consumer Financial Protection Bureau to prove all people handling loan documents have undergone a recent background check. To meet this standard, signing agents must submit to an annual background screening.

The screening process, which usually takes between five to 10 business days, is thorough, featuring identity and residency verification and searches of federal and local court databases and motor vehicle records. Applicants must provide their Social Security numbers.

Buy Insurance and Grow Your Business

Lending industry standards stipulate that certified signing agents purchase $25,000 in errors and omission insurance. NSAs typically purchase several pieces of equipment beyond the notary’s standard seal stamp and journal.

Once certified, signing agents often join national databases used by signing agencies and title companies to find qualified NSAs. Signing agents often pay to appear more prominently in these listings. They’re also encouraged to sign up with multiple signing services.

Notary Signing Agent Salary

A 2020 NNA survey found that a majority of experienced mobile notaries earned at least $4,000 per month. Seventy-six percent of that survey group performed loan signings as part of their business.

However, demand for NSAs correlates with the overall trajectory of the mortgage finance industry. As rising interest rates have contributed to a real estate slowdown in recent years, demand for NSAs has also dropped.

As of 2023, the NNA found that about 74% of notaries described demand for their services as low, compared with around 28% in 2020. As a result, many signing agents have diversified their offerings, often adding non-notary services like field inspections, I-9 verification services and wedding officiation.

Frequently Asked Questions (FAQs) About Notary Signing Agents