Posted by katydyd on 7/12/05 3:49pm
Msg #51358

New here and have a ???

I have been doing mortgage signings for about a year with the company I work for and I'd like to do them on my own as well. So, here's my ??? Do I have to have insurance of my own such as an E&O or be bonded or anything along those lines to do so?

TIA for any help you can offer.

BTW - I am in NY since it varies from state to state I am sure it will be helpful to know that.

Reply by CarolynCO on 7/12/05 4:50pm
Msg #51378

It would be beneficial to include NY in your handle - katydyd/NY or something similar so we will immediately know where you're from, since, as you say, a lot of things are state-specific.

Reply by IrisWA on 7/12/05 5:29pm
Msg #51388

In Washington, the bond is mandatory before becoming commissioned. I'm sure it's the same in most states ... check with your State Department of Licensing.

My understanding of this is the bond does not protect you. It covers the party you are doing the notarization.

E&O insurance is optional, and is the coverage you should elect to protect yourself against (heaven forbid!) claims/lawsuits which go above the face amount of the bond.

Reply by christiSocal on 7/12/05 11:39pm
Msg #51488

Bond is mandatory in cali too and e&o is just smart! n/m

Reply by katydyd on 7/13/05 9:45am
Msg #51571

Thanks for your responses! n/m