ATTENTION Notary Publics
If you are a notary public or are considering becoming a notary for the purpose of handling real estate closings or settlements … read on.
The Maryland Insurance Administration (MIA) has amended the state regulations to require that notaries who provide escrow, closing, or settlement services that may result in the issuance of title insurance must be licensed as title insurance producers. The key word here is “may”. If the notary is the only individual, other than the buyer, who is present, and the notary is performing any duty other than witnessing signatures, the MIA requires that the notary must be licensed as a title insurance producer.
How does a notary become a licensed title insurance producer? You must attend a two-day class, pass the State of Maryland Title Insurance Producer licensing examination; and apply for the license with the state government: The Maryland Insurance Administration.