Being a notary signing agent is not a hobby; it is a serious profession. The risk of significant responsibility from the borrowers, the client, or for breaking any of your state’s notary rules is quite high when notarizing mortgage paperwork. You will also need to be insured to protect yourself from lawsuits and other issues in your work.
Learning credential analysis is one of the most important steps to becoming a new notary Texas. Credential analysis is a process in which a third party confirms that the principal holding a government-issued identification is the person they say they are. The credential analysis involves verifying the principal’s identity by verifying the details and security features of the ID. Notaries must also retain an audiovisual recording of the signing.
The process of identity verification and document authentication involves examining the principal’s identification documents and consulting credible witnesses. The notary must certify the signature of the principal to avoid discrepancies. The third party uses dynamic knowledge-based authentication, which involves a series of questions designed to reveal the principal’s identity and personal history.
It would help if you considered training to become a Notary Signing Agent for several reasons. For one, it assures the companies that you are properly instructed. Secondly, this type of job can be risky if you do not know how to package loan documents properly. Hence, training is crucial for becoming a reliable signing agent who can provide excellent customer service in every loan signing. And lastly, training to become a notary signing agent can increase your earning potential.
If you have decided to become a notary signing agent, there are several things you need to know. The first step is to fill out an application form, known as a Notary Public Application. This form consists of 40 multiple-choice questions, typically taking around 60 minutes to complete. In addition to the application form, you must pay a fee of $60, payable to the Department of State via check or money order. Then, sign the form in the presence of another Notary Public, and finally, verify that you have been active in the Notary Licensee database.
Once you have obtained the certificate, it’s time to start marketing yourself. One of the hardest things for new signing agents is marketing themselves, so finding a group that has been in the business for years can be helpful. They can share the best practices for marketing and can give you tips and tricks for gaining customers. Online courses are also a great option, as you can study at your own pace. Certification can take up to three months to complete.
Notary Errors and Omissions (E&O) insurance is a type of liability insurance designed to protect notaries against mistakes made during their notarizations and other activities as a “Signing Agent.” It is a good idea to carry a policy that covers such mishaps and remember that it is not the same as the Notary Bond. If you are wondering, E&O coverage is for real estate loan closing errors.