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how to become a loan signing agent in florida
Meet the Basic Qualifications
You will need to meet all the basic requirements before you can become a loan signing agent in Florida. Simply put, you need to be at least 18 years of age, a legal resident of Florida, and have the ability to read and write English. That’s it!
Complete a Notary Training Course
A three-hour notary course will be necessary to become a loan signing agent in Florida. It needs to be a course approved by the Florida Department of State. The courses are administered in both the private and public sectors but have to register with the Executive Office of the Governor. You can find an approved list of courses here.
The course you will take will likely have eight sections. You will need to complete the questions at the end of each to move on. It takes at least 23 minutes to complete each section of this course.
After completing the entire notary training course, you will receive a course completion certificate. This certificate will have your name, the date, and a certificate number on it. It provides the proof you need when applying to become a notary public. Your certificate will be good for one year.
Get Your Surety Bond
You will need to get a $7,500 surety bond in Florida. This is required by the Florida Department of State if you want to become a loan signing agent. You can find your surety bond from an insurance company, notary bonding company, or notary organization.
The surety bond provides protection for those you provide services for. If you want protection for yourself, you will need Error & Omission insurance.
Complete Your Application
The next step is to complete your Florida Notary Public Commission Application. You will also need to find an AFFIDAVIT OF CHARACTER To sign your application. This person needs to have known you for at least a year, but they cannot be related to you. They are signing and stating that you are a trustworthy person.
You will need to sign your application and pay the $39 application fee. It’s also necessary to fill out the Bong of Notary Public form on the last page of the application. this must be signed and include the details of your surety company.
You’ll be able to submit this application online to the Florida Department of State.
Get Your Notary Public Commission Certificate
After your application has been approved by the Florida Department of State, you will get a notary public commission certificate. This will be forwarded to a bonding agency, and then sent to you.
Once you receive your certificate, make sure you review it. Make sure your name and other information are correct on the certificate.
Get Your Notary Supplies
Now you just need the right notary supplies to get started as a loan signing agent in Florida. You can get a notary seal from your surety bond company. You can also find one from another vendor.
It’s not required, but a good idea to get a notary journal, as well. You may also need other supplies to get started as a loan signing agent in Florida. Make sure your journal and seal are kept locked and secure.
Register for Online Notary
You will also want to register in Florida for an online notary. Not all states offer this, but Florida does. you can fill out the Registration for Online Notary form and submit it. You are required to have $25,000 in a surety bond, $25,000 in E&O insurance coverage, and you will have to complete the online notary public course. The registration fee is $10, as well.
Even with an online notary, you will still have to meet the signer in person. A rubber stamp or impression seal will not be necessary for an electronic notarization, however.
You can offer very convenient services as an online notary in Florida. You will have to use a RON Service Provider that is compliant with the laws in Florida, however.
When you’re ready to become a loan signing agent in Florida, you will need to complete these steps. Whether you’re becoming a loan signing agent to work as a loan officer or start your own business, the same steps are required.
The details below will help you understand the recommended guidelines for Notary Signing Agent certification.
What does a Notary Signing Agent do?
A Notary Signing Agent is a Notary who is specially trained to handle and notarize loan documents. For lenders, Notary Signing Agents are the critical final link to complete the loan. A Notary Signing Agent is hired as an independent contractor to ensure that real estate loan documents are executed by the borrower, notarized and returned for processing on time. Completing this critical part of the loan process enables the loan to be funded.
Who can become a Notary Signing Agent?
Anyone who meets the requirements to be a Notary Public in their state can go on to become a Signing Agent. However, it is important to note that some states have restrictions that apply to NSAs.
Is certification required?
Certification is not required by law to become a Signing Agent. However, many companies that contract Signing Agents for mortgage closings ask these professionals to be certified and background screened in order to meet Consumer Financial Protection Bureau compliance requirements for third-party service providers hired by financial institutions.
Several private organizations offer training, certification and background screening for Signing Agents that meet the standards of lenders, title companies and signing services. The NNA is an SPW-compliant vendor, so you may choose to get certified and background screened by the NNA.
Do I need to take a Notary Signing Agent exam or training course?
No exam or training is required for NSAs. Although neither one is required, a training course and passing score on an exam are smart ways to prove you’ve been formally educated in the complex process of mortgage closings.
A training course covers everything you need to know to be familiar with the loan closing process and the types of documents involved. It will provide the knowledge you need to walk a buyer through the mortgage closing process clearly and efficiently. A Signing Agent training course will also prepare you to pass the SPW-compliant exam.
There are many vendors, including the National Notary Association, offering Signing Agent training courses and exams online.
Why am I being asked to do a background check?
In order to guard borrowers’ private financial information, the mortgage industry requests all persons involved in the lending process to undergo background screenings. Lenders in turn instruct title services companies to ensure that everyone with access to mortgage documents has been screened. This applies to everyone handling loan documents including Notaries who act as Signing Agents.
Are there any special requirements or restrictions in my state?
It depends on the state. A Signing Agent must be a commissioned Notary Public. Some states limit or restrict Notaries from working as Signing Agents or include additional licensing requirements. For more information, see our list of Signing Agent State Restrictions.
What supplies should NSAs have?
In addition to your Notary seal and journal, Signing Agents should have reliable transportation to get to assignments, a mobile phone and email for communication with signers and companies that hire them, and a printer and fax machine to print loan documents and fax completed loan documents if required. Many new NSAs also find it helpful to use a few industry tools and guidebooks when starting out.
How long does it take to become a Signing Agent?
NSAs who follow the recommended industry certification process listed above can expect one to two weeks to become a certified Signing Agent. A majority of this time will be spent waiting for your background screening results to return. Other factors will be your availability and how long it takes you to become comfortable with all procedures and requirements for notarizing loan closings.
How much does it cost to become a Signing Agent?
The cost of becoming a certified Signing Agent typically ranges from $75 to a few hundred dollars, but this can vary depending on a few different factors:
Whether or not you have an active Notary commission in your state
Whether or not you already have a $25,000 errors and omissions (E&O) insurance policy
Which training/exam vendor you choose
What vendor conducts your background screening
Where you purchase your NSA supplies
Licensing fees (required for certain states)
