If you have a document needing a Notary
Public signature and stamp, then a general
notary
public is what you need.

In Illinois, a notary public does not need any
specific training nor does a notary public require
special insurance other than their state required
bond which is needed in  order to obtain an IL
Notary Commission.

A Notary Signing Agent is a notary public, that is
specifically trained and insured with a specific
amount of errors & omissions insurance, and
passes a criminal background check, in order to
close on real estate and other loan transactions.

Financial institutions or its service providers hire
sub-servicers (NSA's), to perform or close on
various types of settlement or loan closings.  
Samples of service providers include title and
signing service companies, as well as
attorney-title firms. Real estate transactions
involve closings for residential, commercial, or
construction loans.
Settlement services include structured annuities,
debt consolidation, or loan modifications.
A Notary Public and a NSA are the same entity,
and both professions use the same tools of the
trade, such as a notary stamp, signature and
journal for record keeping purposes.

NSA's primarily provide loan closings services. The
notary acting in the NSA capacity, is
required by
industry standards, to have specialized training,
meet federal compliance, specific nsa
insurance, and have more than adequate
experience in the financial, mortgage  & real
estate industries.

CNS recommends that you do not hire a regular
notary public to assist you with your loan
transactions, because if that notary public,
makes a mistake on your loan documents, any
damage caused by that notary is not covered
by insurance, and costs will come out from the
borrower / seller pocket.
NSA's are required by federal and state
laws (in some states) to have or meet
certain training in the financial, mortgage,
and real estate industries, be criminally
special insurance policy called Errors &
Omissions (E&O).  

Companies that hire NSA's,
only hire those
NSA's that meet all of the above AND
that have been "certified".  

Certification is not a requirement to
become an NSA, and was only offered as
part of 'membership packages' with
certain notary public associations.

The above is why our pricing for the two
types of services, are very different.  

An IL Notary may refuse to notarize any
documents, and may or may not charge
the state fee for a notarial act of a $1.00.

This fee doesn't include an administrative,
recording, or travel fees.
Can an NSA legally close on residential, commerical
or construction loans in Illinois?

Yes.  Under prior law, Illinois Notary Signing Agents were limited to
performing loan closings for lenders who handled the entire  
transaction without the assistance of a title company conducting
the settlement, or were required to become “independent
escrowees” and maintain prohibitively expensive insurance, bonds
and securities in order to perform closings for title companies.

With the enactment of Senate Bill 2718, ALL Illinois NSA's are now
considered
lawful escrow agents who can perform closings when
hired as independent contractors by a title insurance company or
title insurance agent.

There are no restrictions on the operation of NSA's in Illinois. In
addition, Senate Bill 2718 specifically excludes employees and
independent contractors from the definition of “independent
escrowee” under the Title Insurance Act, effectively eliminating any
requirement that an NSA must become an independent escrowee in
the future.
Why do NSA's need to participate in a criminal background screening?

To protect the privacy of borrowers, Congress developed certain rules
for Financial Services Modernization Act (GLBA) and the resulting
Inter-agency guidelines require that all persons involved in the lending
process,  undergo a criminal background screening.

Most if not all lenders are mandating title companies, and title
companies in turn are requiring signing service companies, to ensure
that anyone and everyone, that has access to mortgage documents,
to have a clean criminal background report.

This requirement covers everyone who receives access to borrowers'
private financial information, including Notaries who act as Signing
Agents handling loan document closings.
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CHICAGO NOTARY SERVICES IS NOT AFFILIATED NOR ASSOCIATED WITH ANY OTHER NOTARY COMPANY, NOTARY PUBLIC ORGANIZATION OR OTHER COMPANIES WHO HAVE ILLEGALLY INFRINGED OUR BUSINESS NAME
Illinois Notary Publics are not licensed to practice law, and can not accept fees for giving legal advice

No somos abogados y no podemos dar consejo legal o collectar deniro para informacion legal
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NOTARY PUBLIC vs
NOTARY SIGNING AGENT