Notary Signing Agents are an essential part of mortgage and loan closings, ensuring the validity of the documents being signed as well as the people signing them.
When lending companies close on a mortgage, they will usually hire a Notary Signing Agent to make sure that the loan is carried out properly and all the necessary documents are in order.
Take a look at the list below to understand the requirements and limits of Notary Signing Agents:
A loan signing agent plays a crucial role in the mortgage industry by overseeing the signing of loan documents. As an independent contractor, a loan signing agent meets with borrowers to notarize loan documents and ensure the proper execution of paperwork for real estate transactions. This career offers flexible work opportunities for notaries public seeking to earn additional income in the finance sector.
What Does a Loan Signing Agent Do?
The primary duty of a loan signing agent is to facilitate mortgage closings and notarize documents Typical responsibilities include
- Printing out loan documents provided by the hiring lender or title company
- Arranging and attending signing appointments with borrowers at a convenient time and location
- Presenting documents, explaining what each one is for, and answering any questions
- Witnessing signatures and notarizing documents
- Ensuring complete accuracy and collecting signatures and initials on all documents
- Returning signed loan packages promptly to the hiring company
- Maintaining professionalism and protecting sensitive client information
Essentially, loan signing agents guide borrowers through the document signing process and make sure all the paperwork is properly executed.
Loan Signing Agent Qualifications and Certification
To become a loan signing agent, the main requirements are:
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A valid notary commission in your state. This involves passing a notary exam and background check.
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Signing agent certification. This is obtained through classes with qualified education providers. Certification covers loan documents, best practices, and ethics.
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Annual background checks. Loan signing agents must pass an additional background screening each year that checks identity, criminal history, and more.
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E&O insurance. Having at least $25,000 in errors and omissions insurance is recommended. This protects against liability in case mistakes are made.
No college degree or prior experience in real estate or finance is required. Certification can usually be obtained within 1-2 weeks, either online or in-person. Some states have additional rules for notaries handling loan signings.
Why Become a Loan Signing Agent?
There are several benefits to becoming a loan signing agent:
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Earn more per signing than regular notary work. Signing agents can make $75-$200 per appointment.
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Flexible schedule. Work as much or as little as you want since most positions are contractors. Choose your own hours and signing locations.
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Mobile business. Signings often take place at borrowers’ homes or offices. Very little overhead is required.
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Gain experience in mortgage lending and real estate transactions. Become an expert in loan documents.
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Supplement income from a retirement job or primary career. Extra earnings from a side business.
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High demand. Loan volume swings provide signing opportunities. An aging notary workforce also contributes to the need for new agents.
If you’re an organized, detail-oriented person with strong communication skills, a loan signing agent career can provide nice financial benefits with a flexible schedule.
What is the Loan Signing Process?
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A lender or title company contacts a signing agent to coordinate a loan signing appointment.
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The loan signing agent prints the closing documents and reviews them to ensure completeness.
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At the scheduled date and time, the signing agent meets with the borrower and walks them through each document, explaining the purpose and what signatures or initials are required.
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After answering any questions, the signing agent witnesses the borrower signing each document and then notarizes the paperwork.
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Once the full packet is complete, the signing agent makes copies for the borrower, packs up the originals, and sends them back to the hiring company by the specified deadline.
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The lender or title company reviews the package, verifies all documents are in order, and proceeds with loan funding.
Signing agents must follow precise instructions to keep closings on track. Good organization skills and close attention to detail are crucial.
Signing Agent Pay, Schedule, and Outlook
The main factors that affect a loan signing agent’s income include:
- Geographic location
- Experience and efficiency in completing signings
- Associating with multiple signing services to get assignments
- Amount of time spent marketing services and availability
Signing agents earn per transaction, so income depends on signing volume. Part-time agents may average 5-10 signings per month while full-time agents can perform over 20.
The flexibility of being an independent contractor is a major perk. You control your schedule and can work regular business hours or evenings and weekends based on borrower availability. Peak signing opportunities are typically early morning, late afternoon, and Saturdays.
The Bureau of Labor Statistics predicts strong growth for notaries public, projected at 24% from 2020 to 2030. Real estate activity is a key driver of signing agent demand. Overall, the loan signing agent career outlook remains positive.
Getting Started as a Loan Signing Agent
Follow these steps to launch your loan signing agent career:
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Research your state’s requirements and commission as a notary public.
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Take a loan signing agent certification course online or in your area.
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Pass a criminal background check and order E&O insurance coverage.
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Market your new signing services to lenders, title companies, and signing services in your region.
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Develop strong organization, customer service, and communication abilities.
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Continually pursue education through industry classes and conferences.
With attention to detail, training, and professionalism, a loan signing agent job provides nice income potential in the dynamic mortgage industry.
What Notary Signing Agents Must Never Do:
- Offer advice about the loan
- Give the signer(s) an opinion on any of the information contained in the documents to be signed
- Notarize a signing for which they have a vested financial interest (other than the payment received for performing the duty)
- Notarize their own signature
Though it is not required in all states, it is also a good idea to record the date, time, people involved and anything else of note about the signing in the Notary Notebook.
If you want to learn how you can work for yourself as a Notary Signing Agent, take a look at our Notary Signing Agent Course.
What Notary Signing Agents Must Do:
- Verify the identity of the person signing the loan
- Ensure that all documents are in English and can be read and understood by the signer or can be sufficiently translated or explained to the signer by a third party
- Make sure that all documents are signed and initialed in all the necessary places
- Notarize the document
- Make sure the notarized documents are returned to the mortgage company or proper organization
Mock Loan Signing: How To Explain Loan Documents as Notary Loan Signing Agent
FAQ
What type of notary makes the most money?
How much do loan signing agents make in Texas?
How much does a loan signing agent make in California?
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Annual Salary
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Hourly Wage
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Top Earners
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$78,952
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$38
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75th Percentile
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$69,100
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$33
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Average
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$54,283
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$26
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25th Percentile
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$41,400
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$20
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How many questions are in the NSA exam?
What does a signing agent do?
Lenders and title companies hire Signing Agents as independent contractors to assist in the last step of the loan process. What do Notary Signing Agents do? The responsibilities of a Notary Signing Agent generally include printing loan documents, meeting the signer and notarizing their signature, and quickly returning the documents for processing.
What does a loan signing agent do?
By doing so, the loan signing agent helps prevent fraudulent activities and protects the interests of all parties. Similarly, a notary signing agent is also responsible for the signing of loan documents, such as the promissory note, mortgage or deed of trust.
What is a notary signing agent?
A Notary Signing Agent is a Notary who has been trained to handle loan documents. Lenders and title companies hire Signing Agents as independent contractors to assist in the last step of the loan process. What do Notary Signing Agents do?
How much does a loan signing agent cost?
A loan signing agent does not charge by the signature (or stamp) like a notary public a loan signing agent charges a flat fee of $75 to $200 for their SKILL of knowing how to execute a loan signing. Why Do Notary Public Loan Signing Agents Get Paid So Much Money for Such an Easy Task?