The difference between a Settlement Agent and a Notary Signing Agent

Do you know the difference between a "Settlement Agent" and a "Notary Signing Agent?" According to the National Notary Association, lenders are implementing new rules because some Notary Signing Agents are costing them money and putting their transactions at risk. Eventually NSAs could be faced with all kinds of new rules and regulations.

For example, a Notary Signing Agents should not sign the HUD-1 Settlement Statement under the line that reads "Settlement Agent." Notary Signing Agents are not "Settlement Agents," and do not have authority to sign documents as a Settlement Agent. Settlement Agents are licensed representatives or employees of title companies who finalize loan closings.

If you have a concern or question during a loan signing, always call the company who hired you.

Denise O'Dell, NNA Certified & Background Screened Notary Signing Agent