Posted by ToniK on 8/6/07 4:23pm
Msg #204169

I found this pretty strange and odd

Ok I know from the post on here that many arent too fond of NNA NSA's . Im one of them but only because I didnt know this profession existed and a friend told me about this and sent me to NNA(but that is beside the point). Anyways, as I was google searching Title agents this is what I found:

Virginia Notary Signing Agents Must Be Licensed Title Insurance Agents


By NNA Staff
April 4, 2005

Although the National Notary Association had been assured by the Virginia Bar Association that Notary Signing Agents may perform witness closings in the state, the Virginia Bureau of Insurance has recently alerted us to practical difficulties in performing closings that will prevent a majority of Signing Agents from operating in the state.
According to Virginia's Consumer Real Estate Settlement Protection Act (CRESPA), all persons conducting settlements in real property transactions must be licensed title insurance agents. Licensing requirements apply to Notary Signing Agents who conduct signings where funds are handled by the Agent. According to the Bureau, "handling funds" includes the passing of a check for settlement costs from a borrower to a Notary Signing Agent, who couriers the check and all signed documents to the title or escrow company conducting the settlement.

In many signings there is no handling of funds by Notary Signing Agents. However, the Bureau and State Bar hold that if but once a Notary Signing Agent conducts a signing involving the handling of funds, the Agent must be licensed. Please visit Experion Assessments for more specific information about licensing.

In light of this new information, the NNA has decided to discontinue promoting the operation of Signing Agents in the state. As a result, we regret to inform you that we have suspended our Notary Signing Agent Certification Program for Virginia Notaries.

If you are currently a Certified Notary Signing Agent, please note that your certification designation has been removed from our Web site as of March 18, 2005. You will be issued a full refund for your certification. In addition, all Virginia NSA Section members who no longer find value in membership may also receive a refund on any remaining NSA Section membership. Please contact us at 1-800-US NOTARY (1-800-876-6827) for assistance with these matters.

We thank you for being a part of the National Notary Association, and sincerely apologize for any inconvenience this recent clarification may cause you. Thank you for your understanding in this matter.

_______________________

Ok with that said, why are they still pushing out notary signing agent courses for Virginia notaries? I think I should get my money back, what do you all think of this information?

Reply by Loretta Reed on 8/6/07 4:35pm
Msg #204174

I do closings in VA and MD. I am licensed in MD and I have spoken with my attorney (licensed in VA, MD, DE, DC, NC) and he told me not to stress out about getting my Title Producers License in VA "yet". I can't remember the year, but state law was passed in MD years before it was enforced. I am not telling any one not to get your TPL in VA but I personally am going to wait at least 6 more months to see how the market is doing before I spend any more money (at least until the state starts enforcing the law in VA). If the borrower has to have money at the table, they can take the fed ex label and drop the docs themselves in the fed ex box. (I have not done a closing yet where the borrowers had to pay at the table, guess I'm lucky for now)

The NNA has taken advantage of alot of notaries all over the country. IMHO

Reply by liz/IN on 8/6/07 4:59pm
Msg #204180

I had to get my title producers license here in Indiana. It is required. I had a two day $300 training course, and have no real use for it, but I had to have it to get my notary license.

Reply by Sylvia_FL on 8/6/07 5:38pm
Msg #204192

Liz
Why would a regular notary public who is not doing any work concerning title work have to have a Title Producers license to be a commissioned notary public.
From your SOS website - nothing mentioned about a title producers license.

Notary » Becoming a Notary
To become a notary, an individual must:
Be at least eighteen (18) years of age


Be a legal resident of the State of Indiana.


Additionally, the applicant must file the notary application, along with a $5 application fee and proof of a notarial bond, with the Secretary of State's office.
To obtain an application, CLICK HERE. For further questions, contact Sandy Gerster, Notary Clerk, at (317) 232-6542.

Reply by ToniK on 8/6/07 5:44pm
Msg #204195

I think she meant to be a notary signing agent to handle loans. MD notaries are required to have a title producers license to do loan signings at least that is what my friend who is a notary based in MD told me. But I dont see a need for it as well since not all states require it.

Reply by MonicaFL on 8/6/07 6:42pm
Msg #204208

You are correct about MD. My sister and brother-in-law are both notaries and handle closings but had to get their title producers license to engage in this practice. Just thought I would throw this out.

Reply by Loretta Reed on 8/6/07 9:27pm
Msg #204226

2 or 3 years ago, the state started making every notary come in compliance with the law that was written years ago. I have had my TPL for 3 years. I better not find out anyone doing it here without one, I'll call the MIA in a heartbeat.