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Are Signing Agents allowed to collect closing funds?

I’m a new Signing Agent. And I just wanted to know if it is allowed in Virginia for Signing Agents to collect funds that due at closing/signing appointments?T. M., Virginia

In the commonwealth of Virginia, if a Signing Agent handles any funds – picks up a check for closing costs from the borrower to return with the signed documents – they are required to obtain a Title Insurance Producers (TIP) license. If you do not handle funds, or if the lender or title company arranges for the borrowers to send the funds directly to the closing agent, a TIP license isn’t required.

Hotline answers are based on the laws in the state where the question originated and may not reflect the laws of other states. If in doubt, always refer to your own state statutes. – The Editors

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Additional Resources:

Signing Agent State Restrictions

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Jose Caraballo

26 Nov 2021

Hello I want to know as NSA, beyond the specific and general instructions received from the Escrow, Title and Mortgage offices, what document in the closing documents package tells me that I should collect a check from the borrower for her/his closing? Thanks in advance

National Notary Association

13 Jan 2022

Hello. Typically, the company that hired you will provide you with an instruction sheet for you to follow. If they want you to collect funds at the time of signing, they will list that as one of the instructions on that document.

June Siegel-Hill

03 Feb 2024

I'm a notary signing agent in Virginia and included this subject in a letter to our Secretary of State. I believe we're the only state in the country that has this restriction. I've been assured that they're taking a look at this and seeing what can be done about it. Title companies do not want to hear that I can't take their client's check at a closing and most of them don't even know this law exists. It's been a real challenge.

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