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By Mark Wills - Course Instructor of the Loan Signing System, Forbes Real Estate Council Member, and Best-Selling Author
Errors and Omissions Insurance, also known as E&O Insurance, is liability coverage that is created to protect the notary loan signing agent’s personal and professional assets if a mistake is made during the notarial process that causes the client to suffer financial loss.Why Would You as Notary Public Loan Signing Agent Need Errors and Omissions Insurance if You Don't Plan on Making Mistakes?
This is a great (and incredibly valid) question, especially because notary public loan signing agents take their business, professionalism, and attention to detail very seriously in this industry.
So allow me to explain. The first thing to understand is that loan signing agents are first and foremost, notary publics — and as such, can be held personally liable for the full amount of damages caused by any wrongdoing that happens. Whether that wrongdoing is intentional or not. As a notary public loan signing agent, there are a lot of mistakes that can be made accidentally. Frankly, it's why we get paid so much money. However, if you are found liable for a mistake that occurs during a loan signing appointment, you will need to pay whatever the judgment dictates as well as the legal fees needed to defend yourself. This is why there is Errors and Omissions Insurance — also called E&O Insurance.
By Mark Wills - Course Instructor of the Loan Signing System and Forbes Real Estate Council Member
When you’re doing a loan signing, the borrower may have questions about their impound account.
In this blog, you’ll learn the basics of what an impound account is... |
About the AuthorMark Wills is a Forbes Real Estate Council member, Loan Signing System Course Instructor & mentor to over 10,000 notary public business owners, and the National Notary Association's Influencer of the Year! Mark Wills is the course instructor of the #1 rated Loan Signing System notary public signing agent training course.
Loan Signing System has thousands of 5-star reviews and has transformed the fortunes of thousands of notary public business owners across the country! ⭐️⭐️⭐️⭐️⭐️ Click the link below to get the course! 
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