Notary Signing Agent Illinois

Interested in finding out how to become a notary signing agent in Illinois? 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 Illinois 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 transactions 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 Illinois, 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 Illinois

If you’re interested by the idea of becoming a notary signing agent in Illinois, 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 Illinois.

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

• Meet the eligibility requirements: In Illinois, every applicant must be a US citizen/permanent resident, be an Illinois resident, speak and read English fluently, not have been convicted of a felony, and not have had a previous notary commission revoked or suspended in the last 10 years
• Take a notary training course: While not a mandatory requirement, it’s becoming increasingly popular among Illinois notaries to enroll in these courses as they can give credibility, making their graduates a more trusted choice for clients and potential employers
• Buy a $5,000 surety bond: This bond must last for the duration of your notary commission and can be bought from an insurance company or a surety bond company. If you intend to offer remote notarizations as well, you’ll need a $30,000 bond instead
• Complete an Illinois notary application: Once you’ve executed an appropriate bond, you’ll be ready to start filling out your Notary Public Application. Applicants that don’t reside in Illinois will need to use the Non-Resident Notary Application instead
• Take your Oath of Office: To complete your application you’ll need to take your oath of office and have a current Illinois notary sign and stamp it
• Submit your notary application: When this has been completed, you’ll need to submit your notarized application to the Secretary of State along with a $15 filing fee. If approved, you’ll be notified of this and can collect your notary public commission certificate in-person from the county clerk’s office or by requesting to receive it by mail
• Obtain notary supplies: At this point, you’ll now be qualified as a notary public. However, to be able to offer notarial services, you’ll need a notary seal or stamp as well as a notary journal

Step 2: Take a Loan Signing Training Course

Although not mandatory, taking a specialized loan signing training course is a smart move on your path to becoming a notary signing agent in Illinois. There are a number of advantages to this decision, such as:

• 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: Graduating from a specialized loan signing training course showcases your dedication and knowledge, both of which can cause hiring companies to prefer you
• Confidence booster: By continuously practising the simulated “real-world” experiences included in these courses, you’ll become comfortable and thus better able to provide superior service to clients when it comes to the real thing

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

While it’s not required to get SPW compliant, it’s definitely a good idea.

Just like taking a loan signing course, it shows potential employers that you’ve got a strong handle on all the finance and real estate details you need to be a successful NSA.

To get this compliance, you’re going to need to clear a background check, ace an exam, and get Errors and Omissions (E&O) insurance that covers at least $25,000.

Step 4: Purchase Signing Agent Supplies

After you become commissioned as a notary public and complete a certified loan signing course, you will be ready to purchase all of your notary supplies.

These include a notary stamp or seal, which is what you’ll use to notarize documents during loan signings, as well as a notary record book or journal (used to keep a record of each notarial service you perform as a notary signing agent).

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.