How to Become an Online Loan Signing Agent: A Step-by-Step Guide

In today’s digital world, more aspects of the real estate transaction process are being handled remotely This presents a great opportunity for notaries public to earn income as online loan signing agents

If you’re interested in this flexible work-from-home role, this comprehensive guide will walk you through each step of getting started.

What is an Online Loan Signing Agent?

A loan signing agent is a notary public who is specially trained to conduct real estate loan closings. Traditional signings are done in-person at a location convenient for the borrower.

Online loan signing agents use technology to complete these transactions remotely. This allows borrowers to sign their documents electronically via video conference without having to meet at a physical location.

As an online notary signing agent, you facilitate the signing appointment over web conferencing software Once complete, you electronically notarize the documents

Key Benefits of Being an Online Signing Agent

There are many advantages to performing virtual online notary work:

• Flexible schedule – Work from home on your own time. No commuting to appointments.

• More opportunities – Expand your service area beyond just local, in-person clients.

• Increased efficiency – Complete signing appointments faster without travel.

• Convenience for clients – Borrowers can sign from anywhere via video call.

• Safety – Avoid virus risks associated with close contact during in-person signings.

• Higher income potential – Online notaries can charge higher fees to account for technology costs.

Step 1: Become a Notary Public

The first step is making sure you meet your state’s requirements to become a notary public. This involves:

• Being over 18 years old in most states
• Passing a background check
• Having no felony convictions
• Passing a notary exam
• Obtaining a notary bond
• Filing paperwork and paying fees to your state

This process differs slightly by state. Visit your state’s notary commissioning agency to learn the specifics.

Plan for 1-2 months to get your notary commission approved.

Step 2: Take Specialized Signing Agent Training

While being a notary public is required, it alone does not qualify you to conduct real estate closings. Taking advanced loan signing agent training is essential.

Look for a comprehensive program that covers:

• Notarizing documents in accordance with state laws
• Properly identifying signers
• Detecting and preventing fraud
• Maintaining impartiality
• Following signing procedures
• Handling issues that arise during appointments

The Loan Signing System is the industry’s premier signing agent certification course. It prepares you to conduct loan signings to the highest standards.

Step 3: Become an Online Notary

Next, you’ll need to have the capabilities to perform online notarizations in your state.

Many states temporarily approved remote online notarization due to COVID-19. However, some have made it permanently legal going forward.

Check if your state allows online notarization and apply for approved status if needed. States like Virginia require taking a special course to be commissioned as an electronic notary.

You’ll also need to set up technology for remote online notarization:

• A computer, tablet, or smartphone
• Webcam and microphone
• Reliable internet connection
• Electronic signature software
• Video communication platform

Popular options include DocuSign and Notarize.

Step 4: Create Your Loan Signing Business

As an independent contractor signing agent, you’ll operate as a small business. Follow these steps to establish your company:

• Choose a business name – Something short and simple works best. You can operate under your name or create an LLC.

• Set up bookkeeping – Use accounting software to track income and expenses. This will make tax time easier.

• Open a business bank account – Keep your personal and business finances separate.

• Obtain insurance – Look into general liability and errors & omissions insurance to reduce risks.

• Have a plan for overhead costs – Account for expenses like software subscriptions, bonding, marketing, supplies, internet, etc.

• Set your rates – Research fees in your area and price accordingly. Add extra to account for the remote service.

• Create contracts – Have clients sign service agreements outlining your policies, rates, and terms.

Step 5: Market Your Online Signing Agent Services

Once you have your online notary business established, it’s time to start attracting clients by marketing your services:

• Create a website showcasing your loan signing experience. Optimize it for local SEO by targeting keywords in your city.

• Set up profiles on sites like Notary Rotary and SigningAgent.com where title companies search for signing talent.

• Join industry networking groups on Facebook and LinkedIn to connect with other signing agents and loan officers.

• Send emails to local real estate brokerages and mortgage lenders introducing your online signing services. Follow up with calls to build relationships. Offer them a discount on first-time use.

• Print business cards and brochures to hand out any time you interact with real estate professionals in-person.

• Ask clients for referrals and reviews to build credibility. Offer referral bonuses to incentivize word-of-mouth marketing.

Get Hands-On Experience with a Signing Service Company

In the beginning, it can be difficult to get clients as an unknown signing agent. New agents should consider gaining experience by working with an established signing service company.

Large national companies like OneNotary hire notaries as independent contractors to handle overflow signing work from their clients. This on-the-job training teaches you the ropes while building your resume.

Once you gain experience and confidence, you can transition to finding clients directly. But working under a signing service can provide a steady stream of appointments as you build up your own clientele.

Perform Signings Professionally to Get Referrals

As the face of the lender to the borrower, you set the tone for the entire transaction. Be sure to:

• Dress professionally on video calls. Treat it like an in-person meeting.

• Review the package thoroughly and know the documents.

• Greet clients in a friendly manner and introduce yourself.

• Walk borrowers through each document patiently.

• Answer questions and concerns thoroughly.

• Wrap up with a positive tone thanking them for their business.

Following best practices for online loan signings leads to happy customers – and referrals for more business.

How Much Can Online Signing Agents Earn?

Online notary signing agents typically charge $75-200 per appointment, depending on your state and experience level. Progressing from beginner to expert level usually looks like:

Entry level – $75 per signing

Intermediate – $100-$125 per signing

Experienced – $150+ per signing

It’s reasonable to conduct 2-4 signings per day working part-time hours. At 2 signings per day at a $100 per signing rate, your monthly income would be approximately $4,000.

Get Started as an Online Signing Agent Today!

By following this step-by-step guide, you can start working from home as a remote online notary signing agent. Take advantage of increasing demand as lenders adopt more digital processes.

With flexible hours, unlimited income potential, and a satisfying role facilitating closings, becoming an online signing agent can be a rewarding path.

The key is taking the time up front to get proper training, certification, and preparation. This establishes credibility with clients and leads to ongoing success.

So what are you waiting for? Now is the perfect time get started on this meaningful and lucrative career!