Notary Signing Agent
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October 23, 2019
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The Role of a Notary Signing Agent in a Reverse Mortgage

notary signing agent

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A reverse mortgage is a loan you can take against the equity in your home. This special type of mortgage loan is available for homeowners who are 62 and older and have considerable equity in their homes. Homeowners are not required to make payments on their homes, rather they receive a lump sum, fixed monthly payments, or a line of credit. The entire loan balance is due when the homeowner moves or sells their home.

A reverse mortgage is a procedure that is increasingly popular in the United States. While obtaining a reverse mortgage can provide relief for cash-strapped seniors whose net worth is tied up in their homes, the process can be quite complicated, and it almost always involves a notary signing agent.

Let’s break down the role of a notary signing agent and find out how the process of getting a reverse mortgage works.

What is a Notary Signing Agent?

A notary is a witness or an impartial person who is legally authorized to sign official statements and documents. This process is also known as notarizing. According to the National Notary Association, a notary signing agent is the individual appointed at the federal and governmental level to be present during any meeting for signing high-importance documents.

His role is to supervise the process, to ensure that no party is constrained in any way to sign the papers and also to certify each transaction. The presence of a notary protects you, as the signer, and also confirms your identity.

The process of using a notary signing agent to notarize a reverse mortgage is paramount, as it protects you from fraud. Notary signing agents are notaries specifically trained to handle loan documents. They are the last hurdle in the process of reverse mortgage.

How does the Notary Signing Agent Works?

A notary signing agent has to be present during the final stages of the process, but in some states you can also notarize documents through fax or mail. According to the National Notary Association, the willingness of a person to sign any type of document without being under stress or intimidation from a third party is crucial.

During the meeting, you are required to show your id, which usually includes your driver’s license or passport. You might also need to take an oath that you are the real person behind the image and also that you fully understand what you are about to sign.

The notary signing agent should always be impartial and never try to coerce you into signing the document. Any act of coercion is punishable by federal law.

At the end of the reverse mortgage process, the notary puts his own signature on the papers, then he adds the seal, and finally the notary license.

In a reverse mortgage process, it is absolutely imperative to notarize your documents. Without the seal and the approval of a notary signing agent, your documents are not valid and not recognized at any level, be it state or federal.

How are Notary Signing Agents Selected?

You need to know that everyone who is a notary signing agent has the approval of the federal government. The selection process is extremely strict and only the best are chosen for the job.

Because the notary needs to be impartial, the specific person attributed to your case is selected at random. After you contact a mortgage management company, they will reach out directly to sources of notaries. After a selection has been made, the notary will contact you to discuss some aspects of the reverse mortgage process.

Next, if you’ve chosen a traveling notary, he will travel to your location and you’ll meet to sign the documents. You can contact your mortgage lender to find out the exact price of traveling notaries.

If you are in need of a notary signing agent or you want to find out more about the process of reverse mortgage, please contact our team at Coast 2 Coast Signings.

Coast 2 Coast is a global signing service dedicated to providing the most convenient, efficient and professional signing services. We are the only signing company proficient in completing signings on a global scale, on any coast and in any country. Our licensed notaries are available to provide you with prompt, professional notary services where and when you require.