Small Business Talk

Matt C · Guest

BECOME A NOTARY SIGNING AGENT
First, what is a loan signing agent?
As a loan signing agent you will be responsible for getting a loan package
signed by the borrowers who took out the loan. As a loan closer, you work
for yourself and receives phone calls to close mortgage loans at borrowers
homes. You work as an independent loan closer for title companies, lenders,
banks, and signing companies nationwide, these are the companies that hire
and pay you. The pay for a signing agent varies between $50 to $200 or more
depending on where and when the loan is taking place. Your job is all about
making sure that the people sitting in front of you are the people who are
taking out the loan! You are not there to explain the loan to the borrowers!
A loan closing only takes about 20 minutes. As a loan closer, your job will
include:

1. Getting an order from a title company, lender, or signing company to get
a loan signed.
2. Getting in touch with the borrower's to confirm your scheduled time to
meet them at their home, work, or mutual meeting spot.
3. Being at the borrowers residence or mutual meeting place ON TIME! and
DRESSED APPROPRIATELY.
4. Going over the documents (loan package) with the borrower( more on this
below). Basically, you go page by page through the package, showing the
borrowers each page and having them sign WHERE THEIR NAME IS TYPED on the
bottom of every page. (more on this later)
5. You must verify that the borrower is who they say they are by verifying
drivers licenses or other identification.
6. You must notarize there signature on certain pages (more on this below)
to ensure that the people signing are the people taking out the loan.
7. Your done signing with the borrowers, you gave them their copy of the
package and you leave. The only thing left to do is put the package in a fed
ex/ups overnight delivery package that is paid/supplied by the lender/ title
company. You just have to drop the package!
8. You must understand!!! You are not selling the loan, or "trying" to get
the borrower to sign the documents. ALL these loans are PRE SOLD, PRE
ORDERED!!! The REFINANCE industry is HUGE!!! There are thousands of loans
being signed daily in america. THOUSANDS!!! These loans have been approved
by the lender and the loan officer runs this info by the borrower, when the
borrower is ready to sign the papers because they are happy with the deal
they are getting....well, this is where loan signers come in!! The people
are ready to sign the paperwork, so don't think for one second that its your
job to "close' the loan or "sell" the loan to the borrower, You get the call
to get the loan SIGNED!!! These customers are waiting for you, expecting you
and ready to sign!

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