This year the name of Certified Signing Agent, which is a notary expert in the mortgage document signing process, will be "SPW "Certified Signing Specialist".

SPW is The Signing Professionals Workgroup. This organization was created by the National Notary Association(NNA) and North American Title:
Sam Zaki, Chair, Managing Director of Sales for First American Title’s Mortgage Services Division
Chris Sturdivant, President, NNA’s Trusted Notary Program
Bill Anderson, Secretary, NNA’s Vice President of Legislative Affairs

A Guide To The New Mortgage Signing Standards

The Signing Professionals Workgroup (SPW) recently announced newly recommended best-practices certification standards for Notaries who perform loan document signings. More details are available in the press release and article below:

SPW Press Release

Special Report: New Standards For Mortgage Signings

The recommended best-practices certification standards for Notaries performing loan signings are listed below:

Certified Signing Specialist Code of Conduct
Certified Signing Specialists will adopt the standards of professionalism and practice as defined in theCertified Signing Specialist Code of Conduct. To obtain and maintain the Certified Signing Specialist designation, you will be required to sign an acknowledgment stating that you will abide by the Code of Conduct’s Standards of Practice.
Standardized Signing Script
Certified Signing Specialists will follow a standardized script at the onset of a loan signing appointment, and will use the supplied standardized responses when explaining the function of specific loan documents when asked by the consumer. The SPW’s script is intended to be a guideline if the lender, title company or signing service does not provide one. You may use any script provided by a lender, title company or signing service that does not ask you to violate the law.
Background Screening
Certified Signing Specialists will satisfy an annual background screening that follows the search criteria and scoring metrics defined in the Standards.
Certification Examination
Certified Signing Specialists will complete an annual examination with a passing score of at least 80%. The examination is currently under development and will be updated each year to reflect changes in the industry.
Errors and Omissions Insurance
Certified Signing Specialists will maintain Notary errors and omissions insurance coverage of $25,000.

More information about the SPW and the Standards is available at SigningProfessionalsWorkgroup.org.

Carol Ray at notary2pro has some comments regarding SPW compliance and fees.

"First of all let me say that the NNA is maintaining that they are not in a position to represent notaries in their capacity as advisors to the Signing Professional Workshop. We are being told that they have little or no influence with members of the SPW. They are only instrumental in the formation of the group and are providing the website for the Signing Professionals Workshop. "

" in all fairness to the notaries whose future is being decided by this small group of powerful people, a representative or representatives should be allowed to address this workshop. Apparently there is something in the works which may give notaries a voice in these proceedings. "

"what we need to convey to this workshop is this; If you are truly trying to raise the bar for notaries so that you can feel comfortable and confident when you hire a signing agent who is certified using your criteria then you also need to extend RESPECT to these signing agents. You need to provide them with fees which will allow them to pay all of their expenses (including background checks, training, insurance, operational expenses, etc. etc.) and still be able to make enough of a profit to make a decent living. In addition to the base fees paid for the assignment, additional fees should be paid for additional time or work such as traveling long distance or faxing documents back. Most of the time we have to argue with the hiring party to be paid for any additional work required. This should be a given."

So who will be authorized to provide a signing agent certification? Will the small providers be out of the game? Will Notary fees be fixed or based on offer/demand?

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