While researching the Loan Signing Agent hustle, we tried to cover the most common questions:
How do you become a notary signing agent? What exactly does a notary signing agent do? How much money can you get paid as a notary signing agent? Well, in this article, we're going to tell you the answers to all of those questions and more.
First of all, a notary signing agent is an independent contractor that's hired to ensure that real estate loan documents are properly executed by the signer.
They're correctly notarized and returned for processing on time. This is really a very crucial part of the loan process that enables the loan to be funded.
How much do loan closing agents make?
The amount that you can get paid as a notary signing agent for doing this job goes anywhere from $50 on the low end, to $200 - $250 or more on the high end.
$100 is considered an average low fair fee amount for a refinance or a purchase signing with mortgage documents. And I don't know about you, but to me $100 dollars per hour seems pretty darn nice!
Loan signing agent requirements
Now the first step you need to do is determine you can be a notary signing agent in your state. Some states only allow attorneys to be signing agents. Other States only allow people with a title insurance producer license to be a signing agent.
Here's a link to check the requirements of your state: https://www.nationalnotary.org/support/signing-agents/state-restrictions.
If you do not have to be an attorney or if you do not have to have a title insurance producer's license. Then the first thing you're going to need to do is to become a notary.
Check your state's notary requirements
Now becoming a notary is different in every state. Some require you to take a class, some have you take a test, and Some have you do both. Some states you do neither.
You're going to need to check out the Secretary of State website for your state requirements. Or you can just Google, how to become a notary in the state of wherever you are, and the information will be right there. You can get the link to your Secretary of State here: https://www.e-secretaryofstate.com/
Loan signing agent training
Now once you become a notary, the next step is to become a signing agent. Technically, no training is required. However, many companies will want you to have formal training before they'd schedule you to preform loan signings.
Loan Signing Systems is the industry leader for training loan signing agents. Packages currently start at $197 and include everything you need to become a notary loan signing agent.
Check out our page on loan signing systems, we've included a very detailed video explaining everything involved in becoming a loan signing agent.
Loan notary agent supplies
Once you're a commissioned notary, then you're going to need notary supplies. Those supplies generally consist of a notary stamp and a journal.
You can actually purchase packages with everything that you need to become a notary. You can check some out here: https://www.allstatenotarysupplies.com/kits-for-new-notaries
Now you're a notary, you're a signing agent, you've got training. What is the next step? Well, the next step, you need supplies. You're going to need a computer. I think most people have those. It doesn't really matter if it's a laptop or a desktop.
You're going to need a laser printer. You're going to print out tons of documents. Trust me, an inkjet printer will not be able to handle the demand at the speed that you need.
You're going to need letter and legal-size paper. You're going to need black and blue pens. You're going to need binder clips. You're also going to need FedEx and UPS shipping supplies to send the completed packages back to the company that contracted you.
And lastly, you're going to need reliable transportation and a cell phone.
Hopefully, if you're thinking about becoming a loan signing agent, this information was helpful to you?
If you'd like more information on becoming a loan signing agent check out Loan Signing Systems here
We wish you much success!