Mark Wills explains how notary signing agents work as neutral third parties in loan signings, making around $100 per appointment. Banks and mortgage officers skip these signings to avoid liability, which is why the role exists and pays what it does.
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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. Here's the answer. Is a notary 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 signs. Because they don't want the responsibility of. 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 loan signing agent is.