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She has a Closing Agent License not a TPL> BIG difference
Posted by Luckydog of FL on 2/2/19 11:06pm Msg #602780
http://www.nationalnotary.org/notary-bulletin/blog/2015/07/minnesota-clarifies-nsas-closing-agents

Becoming A Licensed Closing Agent

The solution for NSAs is to apply for a closing agent license in Minnesota.

To qualify, an applicant must take an eight-hour pre-licensing closing agent course approved by the Department and pay a $115 application fee and an additional processing fee charged by the online licensing system vendor, for a license expiring on June 30 every two years. You can visit their website for more information about closing agent licensing requirements.


Closing Agent Defined

Minnesota law defines a closing agent or real estate closing agent as follows: “Any person whether or not acting as an agent for a title insurance agent, a licensed attorney, real estate broker, or real estate salesperson, who for another and with or without a commission, fee, or other valuable consideration or with or without the intention or expectation of receiving a commission, fee, or other valuable consideration, directly or indirectly provides closing services incident to the sale, trade, lease, or loan of residential real estate, including drawing or assisting in drawing papers incident to the sale, trade, lease, or loan, or advertises or claims to be engaged in these activities.”

Just what constitutes “closing services” is not expressly explained in statute. However, in the view of the Department of Commerce, NSAs in the state need to be licensed because they often:

Charge or receive fees in excess of the per-notarization fee set forth in statute;
Explain documents to borrowers;
Receive trust funds (e.g., a check for closing costs); and
Advertise that they offer loan signing services.

State law lists the persons who are exempted from licensing, but the exemptions will not apply to most independent contractor NSAs.
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Messages in this Thread
 Title 365 - Mobile1/PA on 1/31/19 6:48pm
 Hire brains instead of dollars!!!! n/m - pan/nd on 1/31/19 6:53pm
 Re: Title 365 -  PegiT_MN on 1/31/19 7:01pm
 Re: Title 365 - Mobile1/PA on 1/31/19 7:07pm
 Re: Title 365 - Signerbill on 2/2/19 10:13am
 Re: Title 365 - Luckydog on 1/31/19 8:20pm
 Re: Title 365 - pdl/cali on 1/31/19 11:31pm
 Re: Title 365 - SteveS/CA on 2/1/19 1:36am
 My ping does not work... n/m - Luckydog on 2/1/19 8:09am
 I Have No Problem With Title 365's Fees . . . -  PegiT_MN on 2/1/19 8:29am
 IMO this was always the case, but there is more impact -  MW/VA on 2/1/19 9:25am
 Re: I Have No Problem With Title 365 -  VT_Syrup on 2/1/19 9:32am
 Re: I Have No Problem With Title 365 - Luckydog on 2/1/19 9:59am
 Re: I Have No Problem With Title 365 - Mobile1/PA on 2/1/19 1:37pm
 Re: I Have No Problem With Title 365 -  PegiT_MN on 2/1/19 2:17pm
 Re: I Have No Problem With Title 365 - SteveS/CA on 2/2/19 9:51am
 Re: I Have No Problem With Title 365 - LisaKT/CA on 2/2/19 11:52am
 Exactly, Lisa - BearPaw/CO on 2/2/19 4:14pm
 She has a Closing Agent License not a TPL> BIG difference - Luckydog on 2/2/19 11:06pm
 All states should have this - Luckydog on 2/2/19 11:24pm
 I Have Both A Title Producer's License & A Closer's License -  PegiT_MN on 2/3/19 12:18am
 And Yes BIG Difference -  PegiT_MN on 2/3/19 12:33am
 Re: And Yes BIG Difference - Luckydog on 2/3/19 10:47am
 You stand corrected, Luckydog n/m - LisaKT/CA on 2/3/19 2:08pm
 Thank you for the clarification, Pegi n/m - LisaKT/CA on 2/3/19 1:37pm
 Not to mention the reason why we are expected to ... -  John/CT on 2/1/19 6:53pm
 Re: I Have No Problem With Title 365 - Cheryl/SC on 2/2/19 11:15pm
 You do closings in SC? - ML/PA on 2/4/19 4:50pm
 I believe SC allows attorney telephone presence n/m - Linda_H/FL on 2/4/19 5:09pm
 Re: From what I’ve just read with Google search - Carolyn Bodley on 2/7/19 4:29pm
 Re: From what I’ve just read with Google search - ML/PA on 2/8/19 8:22am



 
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