How to Become a Loan Signing Agent

Here, we discuss how to become a loan signing agent with strategies and steps outlined. The goal is to provide a solid, implementable guide toward achieving your career objectives.

Are you drawn or interested in the real estate or loan signing industry? If you do, becoming a notary signing agent is one of several career paths.

How to Become a Notary Signing Agent

This career path involves several responsibilities, such as gathering loan documents from a lender, explaining loan documents to borrowers, reviewing loan documents, and several other responsibilities.

Following the processes outlined below will help you pursue a rewarding career as a loan signing agent. Without further delay, let’s delve into the meat of this discussion.

Is Loan Signing A Rewarding Career Path? 

If you’re wondering if loan signing is a rewarding career path, you must examine the pros and cons involved. Speaking of the pros, these include marketing & self-promotion and networking opportunities.

Additional benefits include good income potential, flexibility, continuous learning opportunities, and minimal education & training requirements.

For the cons, becoming a loan signing agent has certain negatives, including working long hours, unsteady income, and irregular work hours.

Other disadvantages of becoming a loan signing agent include legal liability, high upfront costs, stress, competition, and the absence of benefits like paid vacation, health insurance, etc.

Steps to Becoming a Loan Signing Agent

As with any profession, becoming a loan signing agent involves following steps essential to realizing your goal. In other words, there are set requirements to follow.

These include training and certification. Because requirements may differ from one state to another, you’ll need to identify what applies to your state.

Getting commissioned as a notary public is one of the main requirements.

Other steps to becoming a loan signing agent include attending a training course and getting errors & omissions (E&O) insurance.

What more? There’s an exam and background screening to pass, after which you become qualified to launch your career as a loan signing agent.

Get the necessary supplies, network with industry professionals, and market your services.

i. Get Commissioned as a Notary Public

To become a loan signing agent, you must get commissioned as a notary public.

This process allows you to certify genuine signatures and sign important loan documents. Getting commissioned as a notary public comes with several requirements, including having no criminal record.

Other requirements include being a U.S. citizen or permanent resident. You’ll need to pay a notary commission fee, pass a notary exam, and file an application with your state.

What more? A notary training course is also part of the process of getting commissioned. You must also be at least 18 years of age.

ii. Attend the Training Course

Getting commissioned as a notary public is one of several steps to becoming a loan signing agent.

You’ll have to attend training which covers several areas like the different types of loan documents and the loan signing process.

Others include business development, professional ethics, and the importance of confidentiality. Etc.

Multiple organizations offer loan signing agent courses. Examples include the Notary of America, the National Notary Association, and Notaries.com.

Others include Notary.net and Loan Signing System. Any of these resources can be explored for training courses in your journey to becoming a loan signing agent.

iii. Get the Errors & Ommissions (E&O)Insurance

As a loan signing agent, you need professional liability insurance. The Errors & Ommissions (E&O) Insurance is one to go for.

Insurance companies offer this type of plan—good examples of places to include Hiscox, The Hartford, Safeco, National General, and Travelers.

After contacting the insurance company of your choice, you’ll be required to provide information about your business while choosing the scope of coverage.

This is concluded by paying the insurance premium. Tips on choosing the right insurance company include comparing rates, checking the company’s reputation, and inquiring about discounts.

iv. Pass the Exam & Background Screening

A written exam is usually conducted for candidates seeking to start careers as loan signing agents. Passing this exam is mandatory to be considered.

You’ll also need a background check to determine whether you have a criminal past. Candidates may also be asked for additional requirements.

You’ll need to study the materials, take practice exams, and be familiar with the format to prepare for the exams. What more? Manage your time well and review your answers.

v. Launch your Career as a Loan Signing Agent

At this point, you’re ready to launch your career. You’ll need to get certified be organized and patient.

What more? Providing excellent customer service should be a priority, as this will fetch you great referrals. You’ll work with real estate agents, individual borrowers, title companies, etc.

vi. Get Essential Supplies Necessary for Practice

To launch your practice, you’ll need all the essential supplies. These include business cards, sticky notes, printers, cellphones, computers, and scanning devices.

Others include highlighters, pens, journals, notary seals, calculators, and fireproof safes—all of these help with performing your job more efficiently.

vii. Network with Industry Professionals

One of the ways to keep up with industry trends is by networking with professionals. This can also prove crucial as it helps build a steady flow of clientele.

Networking with industry professionals includes joining professional organizations, attending industry events, maintaining professional relationships, and contacting lenders and title companies.

viii. Market your Services

You must market your services as an independent contractor as a loan signing agent. Your primary clients include escrow companies, mortgage lenders, and title companies.

Other clients you’ll work with as a loan signing agent include real estate agents and individual borrowers. These are the target markets you’ll need to advertise your services to.

The processes discussed above are essential to achieving your goal of becoming a loan signing agent. Consider researching this career path further, including what applies to your state or region.

The more information you have, the easier it gets to achieve your goal of becoming a loan signing agent. This career can be rewarding for persons who have a solid desire to tow such a path.

Use the information provided to start your journey toward achieving your objective. 

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