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  1. #1
    Join Date
    Mar 2006
    Posts
    2

    notary public signing agent

    Had a friend just get a second mortgage on their home to consolidate date. She said a closing agent came right to their home with the closing papers. They signed the note at the kitchen table. So I started looking into this notary signing agent business as a means to earn extra income. Anyone know anything about this stuff? Guess they are notary publics and they go around closing loans for financial institutions. Sounds easy, so what's the catch? Is it for real? Can you make any money doing it? Are the loans legit?

  2. #2
    Join Date
    Mar 2006
    Posts
    21

    Re: notary public signing agent

    My coworker does this on the side legitimately. The only problem he's had, is people flake out on him a lot and are not at home when they say they will be. Or they back out of the loan when he's rearranged his day to go to their house. Other than that, he's had no problems.

  3. #3
    Join Date
    Mar 2006
    Posts
    2

    Re: notary public signing agent

    Does he make any money doing it or is it not worth it?

  4. #4
    Join Date
    May 2006
    Posts
    5

    Re: notary public signing agent

    Depends on the state and the person who prepared the closing documents. I am a broker and I have an attorney prepare all the docs, sometimes the borrower is out of town or cannot make it in to the office during the day so I do a "witness closing" for free, as a service to my clients. I try to go the extra mile and provide service beyond expectations. If you try to do this and make money at it, you will probably have to get insured and bonded which will cost you a tidy sum...doubt if you will make any real money at it...good luck!

  5. #5

    Re: notary public signing agent

    Yep,
    I'm a signing agent. I get $200 dollars per signing. I live in Southern California. :)

  6. #6

    Re: notary public signing agent

    I have had a few friends try this and it wasn't quite the windfall of cash they had hoped it would be. Also, I would suggest if you are not a seasoned mortgage person stick to the witness closes because learning and explaining loan documents from multiple companies can be quite cumbersome and you do want the people to understand the loan they are getting.

  7. #7

    Re: notary public signing agent

    I recently finished my required class for notary public and certified notary signing agent and took the state proctored test. I don't know about other states, but in California, a notary public is NOT allowed to answer any questions regarding the loan documents. It is punishable by a fine and can be a chargeable offense. The ONLY thing we can say about loan documents is "where" something is in the document. For example: "Here is where you can find the the total amount of your loan." "Here is where you find the interest rate of your loan." Any and all questions regarding the actual loan documents must be refered back to the loan officer. This is strictly enforced. So, you don't need to know anything about mortgage documents and loans to be a notary signing agent. Hope that helps! Also, notaries in California are making $300 to $500 per loan package - less if you work for a signing agency as they take their "cut" also. I do know several people who work as a notary full-time and make full-time money for it. :-)

  8. #8
    Join Date
    Nov 2006
    Posts
    8

    Re: notary public signing agent

    I too am a Notary in California. A notary can not charge more then what the set fees are and in fact doesn't HAVE to charge anything. Where they make their $$ is in travel fees. A notary can charge what they want for travel fees. I have talked to Notaries who make 6 digit a year salaries by doing loan signings. I have a friend who paid $400 for a notary to come to her home for her to sign loan docs. I took mine to the local AIM Mail center and paid $60.

    It isn't expensive to get your license if your really interested and the course is not all that difficult. You can take classes on line through nationalnotary.org. Being a notary is just like any other job. How much you make depends on how much YOU put into it.

  9. #9
    Join Date
    Dec 2006
    Posts
    30

    Re: notary public signing agent

    I was a signing agent for about 2 years. I was making $800 to $1000 a week, it was great, earning anywhere from $50 to $200 per signing. It is legitmate and it was fun. It stunk that I had to stop because it was fantastic money. I worked for about 10 or 12 different companies. I was taking on so much that I had to turn some down. I had an edge because I actually worked for an attorney that did about 60 percent of his work doing mortgage closings. However, he would not take on any of these in his office because it wasn't worth the money for him. (he would get 600-1,000 per closing for clients that came to him) I was a "witness only" agent, meaning I was there to verify their signatures on the documents and did not explain any of the documents to the customer.

    Here's the warning: BE CAREFUL. I had to stop because the state I live in became "attorney only" which means that for any and all mortgage closings, refinance or not, MUST be done by an attorney. I would've been held personally liable for any that I did after that went into effect and I could've done jail time. Be sure to read the laws in your state before getting into it. I actually did it in two states (MA and SC when I moved) and they both became Attorney only.

  10. #10

    Re: notary public signing agent

    Luvs5Rugrats is correct! ABSOLUTELY check out the laws. I am a notary in California and here we are required to take a 6 hour state approved course and take a state proctored exam before we can be licensed. In the class you are taught exactly what you can and cannot notarize. There are stiff fines and even criminal prosecution if you do not adhere to the laws in your state. In California we can notarize mortgage documents (but we are not allowed to explain them either). Best advice is to check out your state laws and adhere to them.

  11. #11
    Join Date
    Jul 2014
    Posts
    2

    Re: notary public signing agent

    First study and pass the exam for Notary Public, then study for a Signing Agent certification. Once you have your certification, you start marketing yourself to the loan industry. It make take a few months to start having loan assignments depending of your connections. Expenses going up and fees are going down. What once was a standard refi package at $125, today you find companies offering it for $45, and notaries that do it. If you crunch the numbers, you'll find out if in your case, with your expenses is worth it.
    I'll place a few resources/links that may provide your with more information.
    Sergio

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