|Not to confuse CT with CO (not typo, just thought Incorrectly that Colorado, CT, or some such C was an attorney-only closing State). We have some CO Nsa's on here who won't let me promulgate my erroneous assumptions, to their credit . . . |
Virginia legal authorities say that NSAs "have not established that they have the required knowledge and skill to handle such transactions, and they have not successfully met requirements of examination, licensure, insurance, continuing education and fiduciary responsibility deemed necessary to provide "escrow, closing or settlement services" in a diligent and competent manner."
Well, the SCC amended, saying that a revision was in order regarding its "settlement agent rules and clarified that NSAs who handle funds in connection with a loan signing assignment or real estate closing must be LICENSED as a settlement agent."
This was a more recent (last couple of years) clarification so we could all be in sync. I remember when taking the first time notary training from a VA trainer back a few years it was stressed for us NOT to do closing transactions where Any funds were due. I suppose that as the Trainer it was important for her to cover herself in the event of liability. Wanted us to err on side of Caution!
Also she made it clear that a non-Title agent notary should Not ignore the non-compliant notarial certificate in Virginia prom notes presented for notarization.
Enough with the tongue twisters of the day.