I received an inquiry from a title company to handle a remote closing on their behalf. As a LSA/ mobile notary is this possible?
You mean remote notarizations, e-notarizations, or just getting the docs signed online?
What state are you in?
Yes, with Linda’s caveats. Direct business pays the best and we’d all like ‘only direct’ as clients. Don’t sell yourself short!
In the last year or two “remote notarization” has been used to mean online notarization of electronic documents where the signer and the notary participate in an online audio-video session instead of meeting in person. Unless you are a notary in one of the few states that allow their notaries to do this, you can’t do it.
However, for a long time the phrase “remote closing” has meant a closing some place other than a title company office, bank, or lawyer’s office. Most states allow this, but you must check the laws of your state.
I’m in Missouri and the title company is inquiring that I go on their behalf as a remote closer. I’ve done a little research but I’m having trouble finding information about a closing agent vs. a LSA. What is a closing agent exactly and how does a LSA duties differ?
The closing is being held at the title company just a sister office to the title company I work with. I’m a LSA and a transaction coordinator for the brokerage representing the seller of the property. The buyer is apparently out of town that’s the reason for the remote closing. I’m just trying to better understand the remote closing process as a LSA.
There’s no single place to look up definitions of terms that get thrown around. Presumably “LSA” stands for “loan signing agent”, which how some mobile notaries describe themselves. Other phrases are “notary signing agent” or just “signing agent”.
In some documents in a real estate package you may see “closing agent” to refer to the notary. But in other documents “closing agent” means what is described in the Closing Disclosure as the “settlement agent”, the firm that receives funds and documents into escrow and, during the closing process, disburses funds to those who are owed money, gets documents recorded, and sends documents to those who are entitled to them.
Think you need to talk to Title Co. who wants to hire you for this. Frankly, I can’t make sense out of this. The Title Co. has sent the ‘closing’ to a sister co. for the convenience of the Buyer–so why do they need anyone other than staff to get this signed? And why would they want "a transaction coordinator for the brokerage representing the seller of the property’ to handle* this* closing for the Title Co.?
Okay - remote closing - you’re asked to go to signers and get docs signed - usually takes place outside walls of title company/lender - like their homes, etc.
After that, I’m with Arichter…I’m very confused about this whole transaction. .