Mark WillsYour personal notary loan signing agent coach - 24/7!

Is Being a Notary a Scam? Do Signing Agents Really Make $100/Appt While Banks Notarize for Free?

8 Nov 2024 · 1 min

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Mark Wills explains why loan signing agents charge $100+ per appointment even though banks have free notaries. Signing agents are neutral third parties who handle complex loan documents, while bank notaries do simple notarizations. The role requires specific training and liability insurance that banks don't need for basic notary work.

Chapters

So a lot of you are like, mark, I'm confused. I go into my bank every day and there's a notary in my bank. So why are notary public loan signing agents making money? Here's the answer is a notary public loan signing agent has to be a third neutral party. Let me give you an example. If the bank's employee did a loan signing and they accidentally missed notarized, guess who's on the hook for any damages? The bank. So how does the bank separate themselves from any accidental errors? They hire out a third neutral party. So when you go, oh, Mark. Well, my bank does notarizations for free. Yeah, but not loan doc signings. Because they don't want the responsibility of any actions coming back on the bank itself. That's why realtors don't do their own closings. That's why mortgage officers don't do their own closing. Well, Mark, how come a mortgage officer just doesn't get their own notary commission? Well, I just answered that for you. Thank you so much for acknowledging that. That's so nice. So now you know what a notary rotary loan signing agent is.