Hopefully I can clear up some confusion about a facing, especially for the NO REPLY commenters that I can't respond to.
A facing is sewn on just like a binding.
After sewing the strip on, press it out away from the quilt and edge stitch about an eighth of an inch from the seam line through the facing strip and the seam allowance.
Then press the entire strip to the back of the quilt. The edge stitching makes the pressing easier and gives a nice crisp edge.
This finishes the quilt without a "frame" of binding. I hand stitch the facings in place on the back. Corners can be done many ways and I'm not getting into that here. A binding would be distracting on this banner so the facing was the best choice of edge finish.