Posted by JCintheIE on 4/11/05 8:15pm
Msg #31043

Closing Agent or Signing Agent

Although I am new to this board at one point I did start reading all the previous posts from way back in the beginning, but never finished. This happens to be my first time posting anything however.

This has perhaps been asked or discussed before. If it has I would appreciate being directed to that original post.

I have been presented a few times by either an SS or an Escrow Company with the opportunity to complete a "Closing Agent Affidavit" Basically acknowledging that I have witnessed the signatures/initials and notarized the appropriate documents. On one occasion a line on the form asked me to state specifically when the deal closed.

Since I am also relatively new at this Notary (signing service) stuff. My first instinct was to say "okay sure! I did that" and sign the form. What I have found out however is that The National Notary Association, back in 2002 published a notice to notaries making them aware of this and of the differences between what a Closing Agent is and a Signing Agent.

Ultimately those two signings of mine resulted in a bit of a debate over the issue and both the SS and the Escrow company accepted my completed form with the words "Closing Agent" Being crossed out and replaced with "Notary Public".

Any thoughts or comments on the subject?

Reply by Lee/AR on 4/11/05 8:30pm
Msg #31048

You said: " SS and the Escrow company accepted my completed form with the words "Closing Agent" Being crossed out and replaced with "Notary Public". " Yep, huge difference between Closing Agent & Notary Public. Sadly, until everyone is on the same page, you WILL see these terms used almost interchangeably on docs. Been doing this for 10 years & have always & will continue to cross out Closing Agent & write in Notary Public (& sometimes they even call it Settlement Agent...and confusing the matter further... sometimes they really DO MEAN Settlement Agent & the Notary should NOT complete it)

Reply by Becca/FL on 4/11/05 9:18pm
Msg #31056

I NEVER put "Notary Public" as my title when signing a doc as a "Signing Agent."

The difference is this, I am acting as a Notary Public only when Notarizing a signature on a doc. I am acting as a Signing Agent when signing a doc that does not need Notarization. As Notary Signing Agents, we wear two hats. We act as "Notary" when we notarize a Mtg. When we run down the HUD, we are acting as the Signing Agent.

I don't mean to confuse you. Perhaps another member will explain it better. It's been a "taxing" day and my brain is numb.

Reply by JJ_CA on 4/11/05 11:12pm
Msg #31068

If I come across any document with the word settlement or closing agent then I will not be the one to fill it out. No cross outs. Now if all of the words are there under the line where it is to be signed and I can circle which one then I would go on and fill in the blanks.

Reply by Ted_MI on 4/12/05 6:54am
Msg #31097

Re: respectfully disagree

JJ,

Yes, I believe some times you should, not necessarily fill out the form, but sign it. I recently had a signing in which there was a form to be signed by the closing agent. Part of it was not applicable, but the rest which I recollect related to observing the borrowers' identification items, etc. definitely was applicable. So I signed it. And there were specific instructions that this document should be signed by the nsa.

Now I think what it is wise to do is take a look at the document and see what it says and then go from there.

By the way, the document I am referring to was in a (very large) Ameriquest refinance package, as I recollect.


P.S. I wish I had the document in front of me, so i could be more specific, but I am sure it has been sent out.

Reply by Bobbi in CT on 4/12/05 8:09am
Msg #31108

Same as Ted ...

I read each document that the closing agent or settlement agent has to sign.

Some forms, or parts of some forms, are applicable to what I do, as I am the ONLY face-to-face person that saw the original identification, saw the borowers, or verified information. I the modify that portion to apply to me as "Notary Signing Agent" (the title I prefer to use). For example: The closing agent, who wasn't there, cannot sign that s/he saw the borrower's original drivers license or original Social Security card.

Reply by Jon on 4/12/05 1:01am
Msg #31080

As was previously mentioned, most companies use the terms interchangably. When I get those forms I look to see if they want me to sign it(I can usually tell), if they do I cross out and put signing agent(assuming I did what the doc is stating). I never put "Notary Public" because in Ca it is against the law to use the title "Notary Public" for anything other than "rendering notarial service"(Gov Code 8207).