If you’re considering becoming a notary or expanding your existing notary services, understanding the key differences between a Notary Public and a Notary Signing Agent (NSA) is crucial. This knowledge will empower you to make informed career decisions and choose the path that best aligns with your goals and interests.
In this blog, we’ll break down the roles of a Notary Public and a Notary Signing Agent, compare their duties, and highlight how each can benefit your career.
What is a Notary Public?
A Notary Public is an individual commissioned by the state to serve as an impartial witness to the signing of important documents. Their primary responsibility is to prevent fraud by verifying the identity of signers, ensuring they are willing participants, and confirming that they understand the contents of the document they are signing. Notaries perform essential legal tasks, helping authenticate signatures on affidavits, powers of attorney, wills, and other vital records.
Key Responsibilities of a Notary Public:
- Verifying identities: Notaries confirm the identity of individuals through official documents such as driver’s licenses or passports.
- Witnessing signatures: They ensure that the person signing the document is doing so willingly and knowingly.
- Administering oaths: In some cases, a Notary Public may be required to administer oaths for legal affidavits or other sworn statements.
- Certifying copies: Notaries may also certify that a copy of a document is a true and accurate reproduction of the original.
In Florida and many other states, becoming a Notary Public requires completing an application, taking a brief training course, and passing a background check. Once commissioned, notaries can work independently, either full-time or part-time, serving various clients, including individuals, businesses, and government agencies.
What is a Notary Signing Agent?
A Notary Signing Agent (NSA) is a specialized Notary Public type trained to handle and notarize loan documents, particularly in the real estate sector. NSAs play a crucial role in mortgage closings by guiding borrowers through the paperwork and ensuring that all required documents are signed correctly. In addition to standard notary duties, Notary Signing Agents have advanced knowledge of mortgage documents and the loan closing process.
Key Responsibilities of a Notary Signing Agent:
- Handling loan documents: NSAs ensure all necessary documents are properly signed and notarized during real estate transactions.
- Guiding borrowers: While NSAs are not allowed to provide legal advice, they explain the general purpose of each document in the loan package to the borrower.
- Ensuring compliance: NSAs must ensure that all documents comply with legal standards, and they may need to recheck the accuracy of the loan package before returning it to the lender or title company.
- Submitting documents: After a closing, NSAs are responsible for delivering the completed documents to the appropriate parties, such as a title company or escrow officer, often within a strict timeline.
Unlike standard Notary Public duties, becoming a Notary Signing Agent usually requires additional training and certification to ensure familiarity with the financial documents involved in real estate transactions. Due to the complexity and critical nature of the work, this role often comes with higher income potential.
Notary Public vs. Notary Signing Agent: How Do They Differ?
Although both Notary Publics and Notary Signing Agents are responsible for notarizing documents, the two roles have several key differences. Understanding these distinctions can help you decide which path aligns better with your career goals and interests.
1. Scope of Work
- A Notary Public’s responsibilities cover many document notarization tasks, including legal affidavits, wills, contracts, and more. Their duties are not limited to any specific industry or type of document.
- On the other hand, a Notary Signing Agent focuses specifically on loan document packages in real estate transactions. Their work involves reviewing and notarizing complex financial documents related to mortgages and property sales.
2. Training Requirements
- Becoming a Notary Public typically involves minimal training; in most states, a brief course is sufficient to qualify. After obtaining a notary commission, individuals can start performing notarial acts immediately.
- Unlike becoming a Notary Public, becoming a Notary Signing Agent often requires additional training. Most NSAs pursue specialized certifications and take courses that focus on loan closings and mortgage documents. This extra knowledge is crucial for confidently navigating the complexities of real estate transactions.
3. Earning Potential
- While Notary Publics can earn a steady income from general notarizations, state law usually capped their rates. In Florida, for example, notaries can charge up to $10 per signature for most notarizations.
- Notary Signing Agents, however, can command significantly higher fees due to the specialized nature of their work. An NSA can earn between $75 and $200 per signing, depending on the complexity of the transaction and the location.
4. Work Environment
- Notary Publics can work in various settings, including their own offices, businesses, law firms, or government agencies. Some notaries even offer mobile services, traveling to clients’ locations to perform notarizations.
- Notary Signing Agents often work closely with title companies, real estate firms, and mortgage lenders. They frequently meet borrowers in person to complete the signing process, and many NSAs also operate as mobile notaries to accommodate clients.
5. Demand for Services
- The demand for general notary services is steady but can vary based on local needs. Notary Publics typically serve many clients in legal, financial, and personal matters.
- Notary Signing Agents are in high demand, mainly when the real estate market is active. The need for loan signings often spikes during busy home-buying seasons, offering more opportunities for NSAs to earn.
Conclusion
In the comparison of Notary Public vs. Notary Signing Agent, both roles offer rewarding opportunities. Whether you’re interested in a broader range of general notarial services as a Notary Public or the higher earning potential and real estate industry focus of a Notary Signing Agent, both paths can lead to fulfilling careers. This potential for growth and financial reward should motivate you as you consider your career options.
Whether you remain a traditional notary or expand into loan signings, both paths offer flexibility and the chance to help others with critical legal and financial transactions. This aspect of the roles should inspire you and make you feel fulfilled in your career.
