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 Many interpret the roles and responsibilities of this title differently. I can only unfold or attempt to unfold for you my view of what an NSA is and what their roles and responsibilities are. Firstly, I will re-title it for clarity to be a Notary Loan Signing Agent.
Roles and responsibilities simply stated are to act as an extension of the Closing Agent, being the eyes, ears and full body at a loan signing in the absence of the closing agent. The Signing Agent came to be once loans gained interstate commerce capabilities. For example, when a lender on the east coast was working with a borrower on the west coast to gain their business in providing a loan product. At first one might have thought to send the documents to the borrower to be signed and have them notarized but it became a task to get it signed and notarized thoroughly and correctly the first time. This is one advantage to utilizing an NLSA. At the point where the industry really took off into interstate lending there were more loans than closing agents could get signed on their own and it was found to be more of an efficient use of time to hire some independent to handle the footwork. So there is the history of the origination of the NLSA. |
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A Notary plays an important role in deterring both document fraud and identity theft. The Notary attests to the genuineness of the signature on a document to establish its authenticity and administers oaths to witnesses to compel the truthfulness of the statements made in the documents being notarized. The Notary’s actions also guarantee that the statement of a witness is being made willingly and freely, of the signer’s own intent. |
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