Why is a Background Screening required?
In order to guard a borrowers’ private financial information, the mortgage industry requires all persons involved in the lending process to undergo background screenings. Lenders in turn instruct title services companies to ensure that everyone with access to mortgage documents has been screened. This requirement applies to everyone handling loan documents including Notaries who act as Signing Agents.
Agents can get background screening done by many services. An example would be: *The National Notary Association. The NNA background screening includes identity verification, residence verification, federal criminal record database search, residence county criminal record search (through court records, not a database), state motor vehicle records search and an Office of Foreign Assets Control (known-terrorist list) check. This comprehensive screening meets the highest lender standards and is far more expansive than other screenings. It is therefore recognized and accepted by the nation’s leading title and mortgage services companies
We strongly suggest that you do your homework and make the decision to carry a Background Screening by the coverage for the services that you offer.
*ASC is using the NNA as an example of one place to look for coverage.