Notary Signing Agent Idaho

Interested in finding out how to become a notary signing agent in Idaho? We’ve got you covered.

In order to begin operating as a notary signing agent, you will need to:

• Become commissioned as a notary public
• Take a loan signing training course
• Become Signing Professionals Workgroup (SPW) compliant
• Purchase your notary supplies

This Notary Signing Agent Idaho article breaks down everything you need to know in easy-to-follow, succinct steps — helping you to commence your loan signing career with as little difficulty as possible.

What is a Notary Signing Agent

Notary signing agents (NSAs) are crucial in the real estate sector as they act as a guide for borrowers through loan document signings, acknowledging their signatures, and returning documents to the lender.

On the surface, the role of an NSA might seem identical to that of a notary public, but the distinction lies in the level of expertise required for each task.

While a notary public primarily verifies the identities of signatories and acknowledges signatures, an NSA possesses a deeper understanding of loan documents and has been trained to provide unbiased explanations of each document’s purpose.

Although no extra legal qualifications are required to become an NSA in Idaho, undertaking specialized training is strongly recommended for a couple of reasons. Namely, because it:

• Makes you a more appealing candidate to lenders, title companies, and other industry recruiters — who typically prefer NSAs with specific training due to the complexity of loan signings
• Ensures that you’re actually capable of competently fulfilling all of the responsibilities associated with being an NSA

Note: For more information on this specialized training, see Step 2: Take a Loan Signing Training Course below.

How to Become a Notary Signing Agent in Idaho

If you’re interested in the idea of becoming a notary signing agent in Idaho, you can get started today by completing the following steps. 

Step 1: Become a Notary Public

In order to become a notary signing agent, you will first need to be commissioned as a notary public in Idaho.

In order to do this, you will need to complete the following steps:

• Meet the basic requirements: To be eligible to become a notary public in Idaho, applicants must be at least 18 years old, be able to read and write in English, reside, or be primarily employed in, the state of Idaho, and be a US citizen or permanent legal resident.
• Purchase a $10,000 surety bond: All notaries public will need a $10,000 surety bond with a duration of six that clearly states your name as it appears on your official notary application.
• Complete a notary public application: With your surety bond in hand, it’s time to fill out your Notary Public Application Form and have it notarized. Once this is complete, you’ll need to submit your notarized application and a $30 filing fee to the Idaho Secretary of State.
• Get the necessary notary supplies: If everything regarding your application is correct, you should shortly be issued a Notary Certificate by the Secretary of State. All that you’ll need now is a notary journal and stamp to be able to perform official notarizations

Step 2: Take a Loan Signing Training Course

Pursuing a dedicated loan signing training course is an excellent way to speed up your progression as an Idaho notary signing agent. While it’s not obligatory, there are a number of benefits if you decide to do so, including:

• Comprehensive knowledge: An in-depth course equips you with a thorough understanding of mortgage loan signings and effective ways to deal with unforeseen circumstances, enhancing your proficiency as an NSA
• Employability enhancer: If you earn a certificate from a well-known course, it shows employers that you’re equipped with the specific skills they’re looking for, which can help you stand out when it comes to hiring
• Confidence booster: By providing you with exposure to simulated real-world situations, these courses grant you the necessary confidence to offer optimal service and build stronger client relationships

Did you know? A loan signing training course can also prepare you to pass the Signing Professionals Workgroup (SPW) exam.

Step 3: Become SPW Compliant

Although SPW compliance isn’t mandatory, it’s a smart move.

This is because — just like taking a loan signing course — it demonstrates to potential employers that you’ve got a solid grasp of all of the important finance and real estate concepts that you will need to know in order to operate effectively as an NSA.

To become compliant, you’ll have to pass a background check, an exam, and buy Errors and Omissions insurance with at least $25,000 coverage.

Step 4: Purchase Signing Agent Supplies

Once you’ve earned your notary public commission and finished a certified loan signing course, you’ll be ready to acquire all your required notary supplies.

This includes your notary stamp or seal, a tool essential for notarizing documents during loan signings, and a notary record book or journal to keep a log of every notarial service you conduct as an NSA.

Step 5: Obtain Errors and Omissions Insurance

As a final step, you will likely want to purchase a comprehensive Errors and Omissions (E&O) insurance policy.

This is a type of insurance that protects you against any liability that may arise due to negligence or misconduct on your part.

Examples of where an E&O insurance policy can be useful include:

• You’re overseeing a busy loan signing and, in a rush, you accidentally miss a signature. The loan process stalls, the borrower incurs late fees, and you’re hit with a compensation claim
• While going through a home loan document, you wrongly notarize a signature. The mortgage approval is lost and the client files a claim against you
• During a loan signing, you skip a page inadvertently. The document is void, leading to delays and extra work. In this case, the lender could choose to file a claim against you in order to be compensated for any additional expenses

Note: Purchasing E&O insurance is actually a requirement for becoming SPW compliant.