How To Become A Mortgage Closing Agent

How Are Closing Agents Essential To Eclosings

If you purchased a house even 10 years ago, you likely werent offered the option of closing on your house electronically. Property clerks felt more comfortable insisting on in-person transactions. Thats because its harder to scrutinize fraudulent documents or discern whether a party is under duress on a computer screen than it is in person.

Technological change has come slowly to the legal and real estate industries, but with the recent pandemic, the rate of change has accelerated. Executive orders are allowing eClosings while legislation to allow electronic verification of signatures is being enacted. In fact, Rocket Mortgage® offers some form of electronic closings in all 50 states using one of the following methods:

Hybrid Method

In a hybrid situation the method most frequently used in the United States the borrower and the notary meet in person to verify identity. The most important documents are signed with a pen, and the rest is signed digitally.

In-Person E-Notarization

In this scenario, the borrower and the notary meet in person so that the notary can verify identity, but all documents are signed digitally.

Remote Online Notarization

If you live in, or are moving to, one of the 48 states that allow RON either permanently or temporarily as of October 2020, a remote notary signing agent is authorized to verify your identity online and watch you sign virtually.

What Is A Notary Public

A notary public performs a quasi-judicial, or ministerial, function that allows a duly qualified person to inspect documents to verify the identity of a document signer by closely inspecting the documentation the signer presents. They also verify that signers are acting of their own free will and understand the nature of the documents they are signing. When circumstances require, a notary public can administer oaths to ensure that any statements made are subject to penalties of perjury.

The notarys signature affirms that no fraud or duress occurred during the transaction. Legal documents like those transferring title from seller to buyer wont be accepted, without a notary signing agents signature and stamp, by local officials responsible for recording title changes. A missing signature can be fixed later, but a missing notary signing agents seal means the closing will have to be reconvened.

How Does The Loan Signing Process Work

Escrow companies, mortgage companies and real estate agents work with a notary signing agent to complete the loan signing process. They do this by locating the closest NSA and then sending them to the clients home or business to complete the signing.

Prior to the signing, the notary signing agent explains to the client which documents they are there to verify and how the process will go. This includes explaining what a notarized loan document signifies and why they need to be notarized. Next, the notary signing agent witnesses the borrowers signature on the documents that require notarization such as a deed of trust, grand deed, affidavit, power of attorney, and other various lender documents, and makes sure they are notarized.

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You Dont Have A Business If You Dont Have Customers

Youll not only get certified as a loan signing agent, but Mark will also show you how to market yourself to get more signings and will teach you which loan signing networks you should join to get more appointments.

Other loan signing agent courses usually only cover the loan documents and now how to actually get customers.

What good is knowing everything about the loan package documents if you never get those documents in front of you?

Thats where Marks course really stands out. Most other signing agent course certification training companies leave you to figure this important step out on your own. But you dont have a signing business if you dont have documents to notarize.

The Loan Signing System teaches you how to get loan signing documents on your desk as soon as later this week.

How To Market Yourself And Grow Your Business As A Loan Signing Agent

The easiest way to start getting signings is to add your name to as many signing services as possible. Mark described these directories like Uber for signing agents they connect you with buyers pretty seamlessly.

Brian has also grown his business by developing relationships with suppliers in the industry. Those are the loan officers, real estate agents, title agents, escrow officers, and others involved with the closing of home sales.

Every single one of us knows a real estate agent, Mark said. Use those contacts to get your name out there.

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What Is A Closing Agent

A closing agent is a real estate professional who helps the buyer, seller, and lender to complete a property sale. Your primary job duties in this career include drawing up the appropriate paperwork, delivering documents to all the interested parties, ensuring that they sign the documents, and filing them properly. This is a research-heavy job, as it is your responsibility to ensure that there are no legal, tax, or regulatory issues connected to the title or sale. You complete most of your duties in an office setting.

How To Become A Loan Signing Agent And Earn $100 An Hour Part

This post may contain affiliate links. Please read my disclosure for more info.

Its the best-kept secret in the real estate industry, said Mark about becoming a loan signing agent.

And Im inclined to believe him. You can make $100 an hour as a part-time, and the only real requirements are that you know what youre doing, and you have a notary license.

I was first introduced to this side hustle early last year, when I first sat down with Mark Wills and his business partner Roman Rosario.

That conversation turned into episode 215 of the Side Hustle Show, where the pair walked me through how they built and sold an online course starting with no audience.

At that time, the Loan Signing System course, which he teaches people how to become loan signing agents, was doing around $4k a month.

But what we didnt really cover in that episode was how to become a loan signing agent and what that business is actually like to the frustration of many listeners. So in response to audience feedback and several listener testimonials, I invited Mark back on the show, along with one of his successful students, Brian Schooley, to dive into the loan signing side hustle.

NOTE: My first interview with Brian aired in June 2018. For the 2020 update, please see Where Are They Now? below.

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Do You Need To Take A Course Like Loan Signing System

Of course not! Theres always a way to figure things out on your own. I view courses as a way to shortcut your learning curve and that shortcut and mentorship is what youre paying for.

William, a Side Hustle Nation member in Florida, described his experience:

Ive been a mobile notary in Florida for over a year. I recently relocated to an area with tons and tons of construction, and was looking for a way to capitalize on this. Loan closings caught my attention.

I did listen to episode 286 when I was researching the gig, but didnt take the course. In Florida, you have to take a free course to get your actual notary certification. That part is easy.

I took the National Notary Association exam to be NNA-certified for Loan Closings . I failed the test the first time, but passed the second time. Theres no extra fee for the retake.

I looked over all of the information I could so I could talk the talk and start looking for gigs. Ive since done work at multiple levels.

What Are The Requirements To Become A Mobile Notary

The requirements for becoming a Mobile Notary vary from state to state. Since it wouldnt make sense to detail out 50+ different sets of requirements here, Ill let you Google that one on your own:

Im in Arizona where getting your Notary Public Commission is super easy. For me, the process was:

The Secretary of State will then do a background check. If you pass, youll receive your Notary Commission in the mail within a few weeks.

In Arizona, we have a handbook that we review on our own to learn the laws, how to fill out the Notary Log Book, and more.

In other states, like California, those interested in becoming a Notary Public have to take a class, pass a test, and have fingerprints taken before they can receive their commission.

Again, before you sign up for Loan Signing System or any training program, double check the requirements in your state.

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Want To Become A Loan Signing Agent

If youre looking to go into business as a Notary Public then this course is a great next step.

If youve already taken your CA notary class, then youve probably already figured out a big secret:

The training the state requires all California notary publics to take doesnt teach you everything you need to know about how to go into business as a notary public signing agent.

Thats because the state wants to be sure that you know the laws and that your notarizations are done properly. Our training course teaches you how to do all of that.

But a state-required course doesnt tell you how to get customers or how to make $75-200 per appointment. Theres just too much other information that has to be taught in the required amount of time.

This is fine if you work at a bank or other business where being a notary public isnt your main job. If thats you, then you dont want to have to learn all of that information anyway. In that case, a loan signing agent course might not be for you.

But what if you want to be a California notary public full time?

Whats Included In The Course

This course takes you through each document youll find in typical:

• home loan purchases
• HELOCs
• home sellers packages
• reverse mortgages

The Loan Signing System course includes a set of documents for you to print off and use during the training and to practice on your own. Mark Wills, the creator of the course, explains each document and takes you through an entire closing so that you can see exactly what he does in a signing.

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Your Notary Loan Signing Agent Mentor

Get Our Free Notary Signing Agent Training Webinar And 9

Presented in such a professional manner, with real life scenarios, Mark provides the necessary tools for anyone to become a successful Loan Signing Agent. Great teacher providing an awesome training! THANK YOU!~Carlos Burgos

Anyone that is looking to become a signing agent should enroll in this course. The certifications at the larger, more well-known sites fall short in comparison. I learned this from personal experience. If you want real world examples, enroll in this course.~Curtis Andrews

I can not thank Mark enough for the wealth of information provided in the Six Figure Loan Signing Course. I am new to the real estate business and decided to earn extra income as a Loan Signing Agent. So I shopped around and came across Mark’s website. At first I was confused because I had also researched the NNA, and thought that is all I needed to become a successful loan signing agent, but I was wrong. The wealth of information Mark gives his students you will not get anywhere else. If you want to jump start your career as a successful notary agent, I highly recommend you take this course. ~Jeanae Ficklin

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What Makes For A Successful Mobile Notary

A successful Mobile Notary is professional and puts building relationships before money. Youll quickly learn from Mark, the Loan Signing System course, and the LSS family that building relationships with those who work in the real estate industry is very important to being a successful Notary Loan Signing Agent.

Professionalism is another key component for a successful Mobile Notary. Borrowers are spending a lot of money and the companies that hire you expect professional interactions.

The Notary is likely the person wholl spend the most time with a client during the home purchase, refinance, or HELOC process. The lenders and title companies want to be represented well.

Could It Be A Full

I asked Brian if he thought he could take the signing business full-time, and he said yes.

At one point he was tracking all the appointments he couldnt make because of his day job, and was surprised by the volume of work thats out there.

Although he had made $1500 the month we recorded this interview, his business has continued to grow. He occasionally sends me updates on his progress like this one at $3500:

And this one at $6000 in a single month:

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Duties Of A Closing Agent

Ocala Attorneys Helping With the Purchase or Sale of Real Estate

When buying a condominium or an office building in Florida, you should consider retaining an experienced lawyer to serve as a closing agent during the real estate closing ceremony. The duties of a closing agent encompass many different functions before and during the real estate closing, and the failure to complete these duties can result in serious legal consequences. The Ocala real estate attorneys of the Dean Law Firm provide experienced legal guidance to buyers and sellers of real property throughout the transaction process.

The Role of a Closing Agent for Residential Real Estate

The attorney for the buyer or seller may serve as a closing agent to close a residential real estate transaction. The contract should identify which party will choose a closing agent and pay for the services rendered. In some cases, the parties may use a title company for the closing, but retaining an Ocala lawyer who understands and can explain the legal ramifications of various documents and decisions offers advantages to both sides.

Irrespective of who they represent, a closing agent must make sure the transaction is handled appropriately. Under case law, a closing attorney should honor his duties to both buyer and seller in a real estate transaction, assuming the parties interests dont differ. The consequences of a closing agents failure to honor residential real estate duties vary depending on the particular circumstances.

How To Become A Mobile Notary And Make Up To $200 Per Appointment

This post may contain affiliate links. Please read my disclosure for more info.

If theres one side hustle thats generated the most buzz among Side Hustle Nation in the last few years, it would have to be becoming a loan signing agent.

Loan signing agents are mobile Notaries that help facilitate mortgage closings, and can earn $75-200 per appointment.

In this post, youll learn what it takes to start a mobile Notary business and get a better idea if Mark Wills Loan Signing System is right for you. Mark calls this the best-kept secret in real estate and is obviously a huge cheerleader for his program.

But does it really work?

Kristin Barker Stauffer, a Loan Signing System student in Phoenix, contributed this post. As a mother of 5, shes earning around $900 a month with her mobile Notary side hustle. She invited readers to reach out to her if you have any questions.

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Optional : A Training Program

And last but not least, the training program that really helped me get started was the Loan Signing System Course.

Nicks Notes: Thats my affiliate link use promo code sidehustle for 10% off.

There are three options, ranging from $197 to $497, which Ill cover in more detail below.

I know of other signing agents whove started without a course, but this was crucial for me. Even the National Notary Association recommends taking a training course:

All in, my total startup costs were about $800. This included everything I needed including getting your LSS certification as well as the printer and associated supplies.

In the video, Doug mentioned a similar initial investment in the $1000 range to get started.

Of course, this will vary based on the specific items you choose to purchase as well as your state.