There are quite a few steps you must complete in order to become a notary signing agent. If you have been wondering how to become a notary signing agent, we have a solution. We have put together a comprehensive guide to help you navigate the process and learn about the job.
How long does it take to become a notary signing agent?
In order to become a notary signing agent, you will have to first be a notary in your state. This is a requirement no matter what state you live in. However, there are different requirements for becoming a notary in nearly every part of the U.S.
In some states, you will have to undergo 3 to 6 hours of training to become a notary. This will be done with a state approved course and can usually be finished in an afternoon. It will cover the basics of notarizing and other particulars.
In other states, there are no educational requirements to become a notary. You simply sign up with your state’s governing body and you are certified to notarize. However, you may still choose to voluntarily take some courses if you like.
After becoming a notary, you will most likely have to take a notary signing agent training course and background check. This will depend on the lender that you are working with, but it is typically something lenders look for. Taking the a loan signing training course training course will greatly increase your chances of getting hired.
Taking the course and getting a background check typically takes about two weeks. This includes the time spent waiting for your background check to come back. Compared to other jobs in the mortgage industry such as a mortgage loan officer, this is a very short amount of time.
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, it’s a great option. To become a notary signing agent, you don’t 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.
How much does it cost to become a notary signing agent?
The amount of money it costs to become a loan signing agent will depend on your state. Things like training courses and insurance will all have different prices. However, there is a range that most of these things lie in to help you get an idea.
If you are not already a notary, you may have to go through a notary training course. This can cost anywhere between $100 and $300 depending on the state and institution. Compared to most training for the mortgage business, this is fairly inexpensive.
If you live in a state that requires notary signing agent training, this is going to cost you some money. Most notary signing agent courses cost between $150 and $350. This will also depend on the state you are in and what the institution is charging.
In most states, you will also have to acquire errors and omissions insurance. This protects you from being liable for any errors you might make as a notary. The cost of this will depend on a lot of different factors and will usually be paid monthly.
All in all, the amount of money it costs to become a loan signing agent varies. However, the entire process will usually be under $1,000 and sometimes much less. This is a fairly inexpensive industry to get into for most people.
Can you make money as a notary signing agent?
You can absolutely make money as a notary signing agent. Most notary signing agents charge up to $15 per document they notarize. While this might not seem like a lot, most transactions have dozens of signed documents.
One of the things you must do if you want to make money as a notary signing agent is marketing. The amount of money you make will depend heavily on how you are able to promote yourself. Letting contracting firms know you are available is not for everyone.
One of the main reasons to get training to become a notary signing agent is help with marketing. Most training institutions will have modules on this all important process. Getting started on the right foot will help ensure that your notary signing agent business is successful.
It also helps if you have some connections with contracting firms to begin with. This is why it is important to become a notary before you become a notary signing agent. It will give you the opportunity to meet people and network with contracting firms.
One of the other keys to making money as a notary signing agent is doing the job well. Being reliable and personable will go a long way towards getting and keeping clients down the road. This is why it is so important that you have some interpersonal skills as well.
Is a notary signing agent a good side job?
A notary signing agent is a great side job for people looking to make extra money. Many notary signing agents do the job on the side while caring for families or working full-time elsewhere. Because of this, it is a great way to earn a little, or a lot, of extra money.
One of the reasons a notary signing agent is a good side job is the low cost of entry. It will not cost you thousands of dollars from your steady paycheck to undergo the licensing process. Because of this, many people are able to do it on the side.
One of the other reasons it is a good side job is that you can make your own schedule. While you will have to travel quite a bit to different contracting firms, you can make your own hours. This is one of the best reasons to become a notary signing agent.
While being a notary signing agent takes work, it does not have to be a full-time job. It can be done on weekends or before or after you work at your day-job, depending on your schedule. Because of this, many people find it to be a very good option for making money on the side.
How do loan signing agents find work?
Generally, a notary signing agent will work for many different mortgage companies. This means that you leave yourself open to different opportunities as they arise. You are not stuck with one contracting firm for the course of your career.
Because of this, you will have to find work just like any freelancer. This means placing advertisements and networking with contracting firms. This is one of the reasons the work is so flexible and the schedule is so open.
However, you do not have to necessarily work for many different contracting firms. Most notary signing agents will work for a small circle of banks and mortgage companies. This gives you a solid stream of work without having to move around too much.
Many people who become a notary signing agent have trouble finding their first clients. This is a problem for any freelancer who is just getting started. By taking a course to become a notary signing agent, you can get an idea of how to land your first clients.
Is there a demand for notary signing agents?
There is a massive demand for anyone who has become a notary signing agent. They are needed for nearly any contract that involves the buying or selling of a property. Because of this, they are needed in every part of the country.
One of the ways that you can take advantage of this demand is to live in a booming area. Areas that have a lot of real estate transactions are going to have a higher demand for notary signing agents. This is one of the ways you can start working regularly.
Notary signing agents have to notarize contracts for all kinds of transactions. These can be residential or commercial real estate transactions. Because of this, any area with a lot of businesses will have a high demand for a notary signing agent.
Areas that have a lot of banks will also have a high demand. This is because they are constantly loaning money to people and businesses for mortgages. If you live and work in an area with a lot of commerce, there will be a high demand.
Like any business, it is important that you know where the demand is for your services. Check with other notary signing agents in your area and see if they will tell you. This will also be a good way to start networking and making the connections you need to make.
How are notary signing agents paid?
Unlike other jobs, a notary signing agent doesn’t 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.
How can a loan signing agent make 6 figures?
If you are wondering how to become a notary signing agent, you might wonder how much you can make. The truth is that will all depend on the kind of work you are willing to put in. Luckily, it doesn’t take that much work to pull in some fairly big money.
In order to make six figures as a notary signing agent, you need to work 700 signings in a year. That breaks down to about 15 signings a week, or about 3 a day. This is entirely possible if you are someone who can put in the time and effort.
If you live in an area where there are a lot of different real estate transactions happening, you can make more. The more contract firms you work with, the more access you will have to work. Since many contract firms have many different agents, this opens up even more opportunities.
The key to making six figures as a notary signing agent is to make connections. By attending real estate conventions and networking, you can get to know escrow agents. This will, in turn, turn into work for you as a notary signing agent.
One of the best things about becoming a notary signing agent is that it doesn’t take much time. Many people make money by working much less than 40 hours a week. Because of this, it might be a good option for those who don’t want the standard 9-5 job.
Final Thoughts
If you have thought about how to become a loan signing agent, hopefully this article has helped. There are many ways for you to find success as a notary signing agent. The key is to find the way that works best for you as an individual.
By understanding everything that goes into the job, you can make an informed decision. Knowing your personality type and what you look for in a career is a great start. It will help you decide if you want to become a loan signing agent and if you can succeed.