If you’ve looked into supplementing your income and increasing your skill set by becoming a notary, you may have discovered a few options available to pursue.
In this piece, we’ll be discussing loan signing agents vs notary publics. Are they related? What’s the difference? What tasks can each role perform?
Discover the answers to all your questions from the professionals in this educational guide from Florida Notary Association.
What Is a Notary Public?
The state licenses notary publics to provide important legal services surrounding signature and identity verification. Notaries provide a valuable service because they are trained and equipped to confirm that the authorized individuals sign legal documents, including affidavits, contracts, and powers of attorney.
It can be challenging to get all the involved parties in the same room, especially in situations in which physical distance separates some of those involved. A notary is valuable in these circumstances because they can witness the signing of important documents and confirm the signatory’s identity. Even though the other parties did not witness the signing firsthand, the notary vouches that it was signed by the individual in question.
Notaries in Florida can also perform wedding ceremonies for anyone with a valid marriage certificate.
What Is a Loan Signing Agent (LSA)?
Signing agents are notary publics who have completed special training that equips them to deal with mortgage and other loan documentation. The state of Florida doesn’t have any specific requirements or certifications for loan signing agents beyond the notary licensure requirements, but from a practical standpoint, it may be difficult to get work as a signing agent if the notary can’t back up their qualifications. Many signing agents seek certification to gain the necessary skills.
Since LSAs are commissioned notaries in good standing, they can perform any task that any other notary public can. Their experience with loan paperwork expands their potential duties, allowing them to notarize refinancing paperwork, mortgage agreements, and deeds of trust. LSAs may be contracted by real estate agencies, escrow officers, and title companies for their services.
Signing Agent vs Notary: Which Is the Best Choice?
Remember that all loan signing agents are notary publics. So, whether you decide to become a signing agent or not, becoming a notary is the first step in your journey.
Whether you decide to take the additional steps to familiarize yourself with the loan notarization process depends on your goals and how much time and effort you want to put into your career as a notary.
Signing agent certification takes extra time and money. It’s an investment beyond the initial steps you’ll take to become a notary. As we pointed out above, certification isn’t legally required in Florida, but it may be important to the lenders and real estate agencies you want to work with. The industry is certainly more complex than standard notarization; you need to learn the business somehow if you choose to take those steps.
However, your earning potential is likely to be much higher as a signing agent than it will be as a typical notary. The state of Florida caps the fee for a regular notarization at $10 per signature, and that applies whether it’s a legal contract or a mortgage agreement. However, certain other fees are allowed as long as they are agreed to upfront and kept distinct from the actual notarization fee. For example, a notary might charge a travel fee if they must meet the signatories to notarize their document.
An LSA offers more complex services for which they might charge additional fees. For example, it might fall to the signing agent to prepare a large loan document package. The expertise and time required to do so is skilled work and deserves compensation. Additionally, multiple notary signatures may be required for these complex documents. It all adds up—even if you only charge $10 per notarized signature.
Become a Notary with Florida Notary Association
Whether you have your eyes on a notary commission or want to become a loan signing officer, you need to start with the first step. Florida Notary Association is your one-stop shop for becoming a notary public in the state of Florida. We provide the support and supplies you need to receive and renew your commission, including:
- Link to the required online education course
- State filing fee
- Self-inking stamp
- Required $7,500 bond
- Notary commission certificate
We also offer optional (but highly recommended) errors and omissions insurance that protects you should you make mistakes.
We have everything you need to start your career as a notary public—or a loan signing agent down the road. Start your journey with Florida Notary Association today.