Where Loan Signing Agent Work Comes From
Recently, I have observed that there is a bit of confusion among new notaries regarding where real estate and loan signing work comes from and how to connect into that flow. Below is a list of sources of work for real estate deals and loan signings.; Ive tried to put the sources in order from most common to least common.; Hopefully, this will help clarify where loan signing and real estate work comes from and how it gets to notaries.
How To Get Loan Signing Gigs
Loan officers and real estate agents need signing agents to sign off on home loans. Brain said there are two main ways they find their agents:
Brians first signing was through the signing service. He received a text to sign off on a loan application and made his first $50 for an hour work.
In those cases, the signing service handles the payment, so you receive the money by direct deposit.
What Is A Loan Signing Agent And How Does It All Work
Basically in every real estate transaction, there are a lot of moving parts. When it comes to the process of getting a loan or refinancing a current loan, there is a lender, title company and escrow officer that work to get all the paperwork done.
Signing Agents work with the title companies to facilitate the proper execution of all the documents involved on the borrowers end of the transaction.
We receive digital documents from the title company, work with the borrower to get each one filled out, signed, notarized, and sent back to the title company so that the process can be completed.
Recommended Reading: When Do I Pay Back Student Loan
Get Our Free Notary Signing Agent Training Webinar And 9
Presented in such a professional manner, with real life scenarios, Mark provides the necessary tools for anyone to become a successful Loan Signing Agent. Great teacher providing an awesome training! THANK YOU!~Carlos Burgos
Anyone that is looking to become a signing agent should enroll in this course.;The certifications at the larger, more well-known sites fall short in comparison. I learned this from personal experience. If you want real world examples, enroll in this course.~Curtis Andrews
I can not thank Mark enough for the wealth of information provided in the Six Figure Loan Signing Course.; I am new to the real estate business and decided to earn extra income as a Loan Signing Agent.; So I shopped around and came across Mark’s website. At first I was confused because I had also researched the NNA, and thought that is all I needed to become a successful loan signing agent, but I was wrong.; The wealth of information Mark gives his students you; will not get anywhere else. If you want to jump start your career as a successful notary agent, I highly recommend you take this course.;~Jeanae Ficklin
Whats The Loan Signing Agent Side Hustle Really Like
Brain said he got off to a slow start while he was getting his name out there, but hit his goal of $2000 in monthly income only a year after starting.
He still works his full-time job from 7am-4:30pm, so he does all his signings in the evenings and on the weekends. Each gig pays $50-150 and rarely lasts more than an hour.
Brian does have to turn down some signings while hes working. He offers to do them later in the evening and sometimes the client will accommodate that.
You do need a reliable car to drive to your appointments, and while most signings are pretty straightforward, you never know who youre going to meet. Brian described an interesting encounter with a buyer way out in the desert, but added its just par for the course in any side hustle that deals with the public.
Mark added that a majority of signing agents are women and that buyers have gone through a pretty thorough loan application vetting process.
In fact, its been such a fun and lucrative experience, Brians wife is getting started as a loan signing agent too!
Don’t Miss: How Long For Sba Loan Approval
Education Or A Solid Background Is Necessary To Perform Your Job As A Loan Signing Agent Christine Pardo
Christine Pardo, Notary Signing Agent -Remote Online Notary at Pardoca Advantage
I started in a title office and became an independent contractor about 15 years ago. I have been a mobile notary specializing in real estate transaction for over 20 years.
I serve the Broward County Florida area. These closings are anything from a single document to refinances, purchases, sale , cash deals and more. This year I started offering RON closings. As RON closings become more popular I am dramatically growing that sector of my business.
Flexible Hours And Be Your Own Boss
As a notary, you have the option to create and run your own business. Notaries can set their own hours and work within an area of their liking. You can work as much or as little as you like, and the opportunity to make extra cash could pop up at any moment. Advertising your mobile notary services on your car means you might even get a call from a potential client while sitting in a traffic jam.;
With the adoption of remote online notarization, notaries can offer their services anytime and anywhere without leaving their office or home.;
Recommended Reading: How To Transfer Car Loan To Another Person
The Steps To Getting Notary Signing Jobs That Pay $75 To $125 From Loan Signing Service Companies Are As Follows:
Getting notary signing agent jobs is simple because signing service companies and signing service databases are looking for notaries every single day to fill preset appointments. They literally send out hundreds of text messages each day requesting work to be filled by notary signing agents.
What Are The Requirements To Become A Loan Signing Agent
The most important requirements to become a loan signing agent are:
- Knowledge of the various loan documents borrowers will be signing.
- Errors and Omissions insurance.
- Reliable transportation.
If you have a background in real estate, you may already be familiar with the documents and contracts. If not, it might make sense to take a course like Loan Signing System.
Heres our full Loan Signing System review.
You May Like: How To Apply For Direct Loan
Do You Think Being A Loan Signing Agent Is A Good Career
Note: This is not Christine Pardo, but a stock photo
It is for me. I prefer business to business. Yet, I still get to work with the general consumer. I believe LSA career will be what you put into it. But isnt that the same with most careers or maybe the difference between a job and a career.
I like the non-routine aspect. I can wake up in the morning with nothing scheduled for the day and end up working until 10pm with several closings.
But, like any other independent contractor business you have to be a self-starter. No one is going to follow up with you and make sure you are marketing enough. No one is going to make sure you wake up, and get to your desk by 9am. You have to want it enough to make it work. You time is not your own, rather, it is your customers. Dont feel like taking that closing? They may not call you next time.
It is cyclic. Right now, we are crazy busy thanks to low interest rates. Even each week of a month is different. Days of the week too! You must know how to budget and plan.
No benefits. No paid sick days or vacation days. No insurance. No lunch hour. No overtime. You are responsible for yourself and your employees if you got them.. Yet, you still have bosses you have to answer to. Definitely, ;a different world than a 9-5.
The Pros And Cons Of Becoming A Notary
Amanda Farrell – 4 months ago
Businesses across multiple industries in the United States require documents to be signed and notarized, so notary services are in high demand. There are more than 4.4 million commissioned notaries in the United States, and as more people look for part-time gigs to supplement their incomes, the numbers continue to grow. Before you take steps to become a commissioned notary, there are some important pros and cons to understand about the job.;
Read Also: Can You Use Fha Loan If You Already Own House
What Else Are You Working On Right Now
Brian has a podcast called That Loan Signing Dude, which he does for fun and to help encourage others getting started.
The next big step for him is to create a signing service. Currently, Brian has to occasionally say no to signings if hes at a family event or unable to make it for some reason.
He wants to set up a service so he can pass those signings on to someone else to pick up. This way he never has to say no to an escrow agent, and he can also make a commission on the signing.
How To Get Work As A Loan Signing Agent
We contract with title companies and signing services. Starting out, we all work with signing services to get experience. I got a list of services from the course and literally contacted each and every one. That was a tedious process that took about a month working on it a few hours a day, but definitely critical to getting started.
Now, I get phone calls, texts, and emails every single day asking me to accept assignments. I work in a 70-mile radius of my house .;
When an assignment is offered, if I accept and they choose me to complete it, I contact the borrower to confirm time and location, wait for documents, then print them when they come in, show up and complete the assignment. Sometimes we have to scan in copies, but always ship them via prepaid FedEx or UPS labels provided by the title company.
Read Also: How To Get 150k Business Loan
A Notary Commission Enhances Your Resume
Lots of businesses benefit from having a commissioned notary on their payroll. Law firms, public and private schools, car dealerships, insurance companies, healthcare facilities, and real estate companies utilize notary services on a regular basis. Featuring your status as a notary on your resume will push you ahead of other candidates.;
Oftentimes, if your workplace could benefit from a notary on staff, theres the potential to negotiate that they pay for your costs to receive your commission. It never hurts to ask. Before you approach your supervisor, be sure to do your research on the costs and benefits of sponsoring you.;
What Is A Notary Signing Agent
Notary signing agents begin their careers as notaries public, and then complete additional certification requirements and submit to a background check to become a licensed notary signing agent. They also complete educational requirements that focus on the proper handling of loan documents. Exact requirements vary from state to state, but most require applicants to pass a test and have a clean criminal record.
Recommended Reading: Which Credit Union Is Best For Home Loan
Set A Target Of How Much To Make You Want
Its time to find out just how much you want to earn every year until you have the expertise and experience to sign a loan to escrow requirements and know how to bundle loan documents. You can then work backwards to see just how many loan signings youre going to need to reach the income level.
For instance, if you want to make a six-figure salary, you would need to concentrate on having 13 loan signings a week that pay $150 each on average. If you want to make $50,000 a year, youd need to pay $150 each for 6-7 signings each week.
The monthly mentorship of the Loan Signing System focuses 100% on notaries striving to reach whatever degree of performance they want. And while each student in the community achieves a different level of success, it will completely provide you with the resources and expertise to become a good signing agent for loans!
Is Becoming A Loan Signing Agent Worth It
Becoming a notary signing agent is a fairly simple process. Because of this, there is almost no reason not to undergo the process. There are a lot of upsides and very few downsides to the process as a whole.
Notary signing agents are in incredibly high demand. Whenever somebody sells or refinances a home, there is a need for a notary signing agent. Because of this high demand, if you become a notary signing agent, there is a lot of work for you.
One of the other upsides to becoming a notary signing agent is that you get to make your own schedule. You can take on as much or as little work as you want to depending on your schedule and obligations. This makes it a great choice for people who already have full time jobs and want to make extra money.
It also has a relatively high reward and risk ratio. There is not much training to go through and the demand is very high. This is especially true if you live in a rapidly developing area that has a lot of real estate transactions.
If you are looking to maximize your earning potential without too much of an investment, its a great option. To become a notary signing agent, you dont have to put in too much work. This gives you a lot of extra options for income without having to spend months getting an education.
You May Like: Is Student Loan Refinancing Worth It
How Are Notary Signing Agents Paid
Unlike other jobs, a notary signing agent doesnt get a monthly or bi-weekly wage. You will get paid for each document that you notarize. Because of this, it is entirely up to you to determine how much money you are going to make.
Most notary signing agents make anywhere from $75 to $200 per loan signing. This will be paid by either the borrower or the lender depending on the arrangement they have agreed on. Most loan signings take about an hour, so this is easy to calculate for your hourly rate.
The rate is usually set by the escrow company that is breaking down the closing costs of the transaction. Your fee will be its own line item in the closing statement, so you can know exactly what it is. This is one of the ways you can pick and choose which clients you want to work with.
If you are working for a loan signing service, you will split the fee with them. Loan signing services are umbrella companies that a notary signing agent will work under. In this case, your fee will be anywhere from $75 to $125 with their fee taken out.
As with many freelancing jobs, the rate will always be different depending on the circumstances. It will be completely up to you to determine what jobs you want to take on. This is something that you will learn as you get more experience in the industry.
What Skills Do You Need To Be A Notary Signing Agent
Their duties include making sure legal documents are authentic, checking the identity of the person signing the document, serving as a witness for the document being signed, collaborating with the buyer and seller, and notarizing all required signatures.
If you prefer to brush up on your notary skills or want to train in person to become a Notary Signing Agent, most states offer live training.
Not sure if you are on LinkedIn or not, but they also have some great notary/signing agent forums that are really helpful.
Don’t Miss: How To Get Sba 7a Loan
Notary Signing Agent Jobs
We’re always in search of a certified notary signing agent who can complete a loan document signing in a professional and accurate manner. Mortgage and title companies, as well as brokerages, use our signing services. We pride ourselves on offering notary signing agent jobs to only the very best notaries.
Unlike some other notary signing companies, we pay notaries bi-monthly and have a 24-hour-a-day confirmation system to make the notary’s job easier. It allows them to call anytime with news of signings and appointment times. If you’d like to join our team, please fill out the The Closing Exchange agreement online.
How Do You Get Started As A Loan Signing Agent
After my son told me about this line of work I had never even heard of, I did some research. I decided to take a course offered at loansigningsystem.com.
I followed the course, got my Notary Certificate in Virginia , signed up with as many signing services and title companies as possible, and got to work. There are some other details, like becoming an NNA member , obtaining E&O insurance, purchasing some supplies, etc. It is all covered in the course.
Recommended Reading: How Much House Can I Afford Physician Loan