Examination Background Screening Code of Conduct Signing Presentation Guidelines Examination Insurance The SPW Examination Standard specifies that Notary Signing Agents should pass a 30-question examination annually with a score of 80%. The examination should cover: Sound mortgage-finance and real-property signing practices The SPW Notary Signing Agent Code of Conduct The SPW Notary Signing Agent Signing Presentation Guidelines A lender, contracting company or third-party education provider may deliver the exam. A training course is not required; however, lenders, contracting companies and education providers may offer courses for candidates who desire training or as a tool to help candidates prepare for the examination.

The Signing Professionals Workgroup (SPW) creates, maintains and promotes professional standards for Notaries Public who provide signing services in connection with the closing of a mortgage finance or real property transaction. The SPW is an industry workgroup of the National Notary Association. SPW members include mortgage lenders, title companies, signing services, trade associations, and educators of, and background screening providers and companies offering supportive services to, signing professionals. Membership is open to companies meeting the qualifications for membership. Purpose of the Standards The SPW has currently published five open Standards: Specifications for an annual background screening The Code of Conduct A standardized written signing script Notary errors and omissions insurance with a defined limit of liability The Standards will help signing professionals and the companies who use and rely on their services to meet their regulatory compliance obligations and improve the customer experience at a mortgage finance or real property settlement conference. The Standards will allow a signing professional’s background screening, acknowledgment to follow the Code of Conduct and insurance coverage to be applied by a wider range of vendor management companies.

Background Screening Background Screening Code of Conduct Signing Presentation Guidelines Examination Insurance The SPW Background Screening Standard specifies that signing professionals will undergo and pass an annual background screening that follows the search criteria and scoring metrics defined in the Standard. One hundred and four separate offenses have been assigned a point value of 2 to 25 points. A cumulative score equal to or greater than 25 produces a fail result. In addition, a positive match on certain searches will automatically disqualify the applicant. The Standard specifies that a compliant background screening will search the following sources of data: Social Security Number Trace County Criminal Court Search Federal District Court Search Nationwide Criminal Database Motor Vehicle Records Search National Sex Offender database Search USA Patriot Act including Terrorist Watch List —United Nations Named Terrorist List —Office of Foreign Asset Control Specially Designated Nationals & Blocked Persons —Bank of England Sanctions —Department of Defense Trade Controls Debarred Parties —U.S. Bureau of Industry and Security Unverified Entity List —U.S. Bureau of Industry and Security Denied Entity List —U.S. Bureau of Industry and Security Denied Persons List —World Bank List of Debarred Firms Please refer to the full specification for additional notes and limitations in these searches. The SPW recommended that the Standard include annual background screening since signing professionals enter the offices and private residences and are privy to the private and confidential non-public personal and financial information of SPW members’ customers.

Rules and Procedures Background Screening Code of Conduct Signing Presentation Guidelines Examination Insurance The Signing Professionals Workgroup is governed by its Rules and Procedures, which lists the duties of officers and standing committees, and contains procedures for receiving members, holding meetings, establishing committees, conducting votes and elections, and amending the Rules and Procedures. The Rules and Procedures also contain the SPW’s Antitrust and Intellectual Property Rights Policies.

What is a Notary Signing Agent? A Notary Signing Agent is a Notary who has been trained to handle loan documents. Lenders and title companies hire Signing Agents as independent contractors to assist in the last step of the loan process. What do Notary Signing Agents do? The responsibilities of a Notary Signing Agent generally include printing loan documents, meeting the signer and notarizing their signature, and quickly returning the documents for processing. NSAs are also responsible for following any additional instructions from the lender, title company or signing service that hires them for loan closing work. For example, an NSA may be asked to fax back documents right away or use a specific mailing service to return the paperwork safely. Since Notary Signing Agents have access to private financial information about borrowers and are sent into their client's home, the mortgage finance industry requires all Signing Agents to undergo a background screening on an annual basis. This helps prevent mortgage fraud and ensures the consumer's information is secure. Learn how to become an NSA What is the difference between a mobile Notary and a Notary Signing Agent? The main difference between a mobile Notary and a Notary Signing Agent is the focus of their work. While Notaries encounter a wide variety of documents, Signing Agents specifically handle home loan documents. Mobile Notaries and Notary Signing Agents are both required to have a traditional Notary commission, but NSAs must also pass a background check and an exam every year. Some states have specific restrictions related to real property documents and may require additional professional licenses. How do Signing Agents make money? Notary Signing Agents are independent contractors and decide how much they charge for their signing services. As contractors, Signing Agents typically charge per assignment, ranging from below $100 to a couple of hundred dollars. The amount you make will be based on how many assignments you can complete in a day. Other factors that affect the cost of an assignment is the contracting company, whether you're working for a lender or an escrow office, and their budget. In addition to the notarization fees set by state law, Signing Agents can also charge for courier services, which includes printing and delivering completed loan packages to the contracting company. All fees should be agreed to before the signing. Why become a Notary Signing Agent? Becoming a Notary Signing Agent has a few benefits. The first is the income opportunity. The fee you can charge for handling loan document packages is separate from the fee for regular notarizations, which means you'll earn more per assignment. The second benefit is that you can be your own boss. Since Notary Signing Agents are independent contractors, you'll control your schedule and decide how many notarizations you want to take on for the day. If you're already commissioned as a traditional Notary Public, you're one step closer to becoming a Notary Signing Agent. If you're not currently a Notary, you'll need to meet the eligibility requirements and follow your state's rules regarding Signing Agents.

Notary Signing Agent Policies A number of policies have been developed to standardize the mortgage industry since the housing market crashed in 2008. Two organizations, Signing Professionals Workgroup (SPW) and American Land Title Association (ALTA), have developed standards Notary Signing Agents must meet to work for lenders and title companies. Signing Professionals Workgroup The Signing Professionals Workgroup (SPW) — which creates, maintains and promotes professional standards for Notaries Public who provide signing services in the closing of a mortgage or real property transaction — provides recommended standards for Notary Signing Agents. The SPW created the standards because it believes that Signing Agents should stay informed about professional practices and industry changes by undergoing annual training and testing. The standards also benefit title and settlement services companies that hire NSAs as an assurance that their contractors understand their responsibilities and comply with government requirements. As of March 2016, the recommended standards are as follows: Code of Conduct The Code of Conduct guides signing agents to operate according to the highest standards of practice expected of like professionals in the settlement services industry. It features 10 Guiding Principles that cover all aspects of consumer protection and professionalism. Signing Presentation Guidelines The Signing Presentation Guidelines are intended to help create consistency at the signing table and to ensure a positive customer experience. NSAs may use these Guidelines during the closing and easily refer to descriptions of particular closing documents in the loan package if the borrower asks questions. Annual Background Screening The annual background screening standard specifies that signing professionals will undergo and pass an annual background screening that follows the search criteria and scoring metrics defined in the Standard. E&O Insurance The Insurance Standard specifies that a Notary Public who performs signing services should show proof that he or she maintains a $25,000 Notary errors and omissions insurance policy. This kind of policy only covers notarial errors and should not be confused for a Notary surety bond or a general small business liability insurance policy. For more information, visit the Signing Professionals Workgroup website. American Land Title Association American Land Title Association promotes professional standards for the title industry. In an effort to help title companies meet regulatory requirements, it has developed ALTA's Title Insurance and Settlement Company Best Practices. These recommendations help title companies better select and oversee NSAs. Below is what title companies expect when choosing Notary Signing Agents to work with: Ensure you take the necessary steps to safeguard consumer's nonpublic personal information (NPPI) Are covered by E&O insurance and, where required by law, a surety bond Be able to provide evidence of any required state licenses or any recognized and verifiable industry designation Acknowledge you comply with the contracting company's instructions and information security program For more information, visit the American Land Title Association website.