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 Dear Signing Agents,
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n/a
Michigan
1 Posts |
 Posted - 02/15/2011 : 07:34:11 AM
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Hello there,
I am also new to this forum and will be taking the signing course via NNA soon.
I hope to share and learn a lot in this forum, and thank you all for the information that I have read thus far.
Angela Wennekes
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Michigan Mobile Notary
(734)363-5019
awtranscription@gmail.com
www.awlegaltranscription.com |
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BobbiCT
Connecticut
135 Posts |
Posted - 02/14/2011 : 09:12:57 AM
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If you accept a Notary Signing Agent assignment, you are not just "notarizing" documents. Since the attorney you work with does not consider residential home purchases and refinances as part of his/her book of business, s/he will not consider your part-time job as competition for her/his income.
Why not call one or two legal assistants that you know who work in the residential real estate area and ask them what's involved at the table (not the preparation work or the settlement work; i.e., drafting documents and disbursing closing funds). They'll be particularly informative as the what the UPL pitfalls are in real estate (so that you don't make the "helpful" mistakes at the siging table when a borrower asks a "simple" question).
Make sure your business model at least nets you a small profit. Question to ask yourself: Am I getting calls because I am "new" and, therefore, the $35-$65 low fee or No Pay companies can take advantage of me rather than calling an established full-time NSA. NOT to discourage you, just want you to be aware of your upfront out-of-pocket costs (laser printer/fax/scanning equipment, toner, paper, gas, wear & tear on your car) as an independent contractor and your liability as both a notary and a signing agent.
Bobbi in CT |
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lynndiane
Texas
3 Posts |
Posted - 02/11/2011 : 7:00:27 PM
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Actually, this would be supplemental income, I work about 30 hours a week for an attorney as a legal assistant. I'm listed on 123 notary, and I've already gotten two calls in the first week, but had to turn them down. I'm only finding a couple of signing agents in this area. And no, I'm not familiar with the documents. Thinking one of the courses would be a good idea. Thanks so much for all the info!
Lynn in Corpus |
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LindaH
Florida
1754 Posts |
Posted - 02/11/2011 : 5:53:41 PM
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P.S.
I'd like to point out that I just read a post on NotRot - an established notary signing agent since 2005 in VT saying it's time to hang it up - not being offered fees adequate to compensate her for the travel required...
Think hard and long if before you take the plunge...
MHO
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell |
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LindaH
Florida
1754 Posts |
Posted - 02/11/2011 : 3:23:20 PM
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Are you familiar with loan docs? (See...told you more questions) - if so, how familiar. Can you walk someone through their loan package and get all their questions answered? You're doing more than "notarizing loan docs"...you're actually helping borrowers finalize what is probably the most important financial transaction they'll ever enter into. If you don't know the docs you'd be doing them a disservice. The big deal is the increased responsibility you have as a SA that you don't have as a notary...
As for expense - cell phone with solid, reliable service; laser printer is required this is non-negotiable...an inkjet will not do "just for now"....you MUST have a laser printer. Also need to keep a good supply of legal and letter sized paper on hand, mainly legal. Keep backup toner for your laser printer. Reliable car as you'll probably travel 45-50 miles or more *one way*...briefcase and a good supply of standard office supplies ... black and blue pens, scotch tape, paper clips and binder clips, AND a good bookkeeping program for invoices and mileage.
Also, be aware that in TX...it's different. Some loans *must* be closed in an attorney office, lender office or title company office (think HELOC and cash-outs), so you'll have to have someone in line who's willing to let you use an office space for your closings - they'll probably charge you for that and you'll have to reflect that in the fees you quote. I also believe that, in TX, you MUST provide the signers with a SIGNED copy of their loan documents....so you'll need to be able to accommodate that.
Visit here, search here, and visit and search other forums...lots of info to give you insight on what you'll be getting into - I will say that now is not the best time to try to break into this business - business is down and many established SA's are scrounging for work with no phones ringing.
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell |
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lynndiane
Texas
3 Posts |
Posted - 02/11/2011 : 2:35:24 PM
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I know what it is, I guess I'm not understanding what the big deal is about notarizing loan documents and how it differs from other notarizations. But it sounds like there's money to be made without any major investment, financial or time. And since I'm already a notary...
Lynn in Corpus |
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LindaH
Florida
1754 Posts |
Posted - 02/11/2011 : 11:54:32 AM
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Let me ask first - what DO you now about it...
Because I'm a bit perplexed how one can consider "becoming" something without knowing what that "something" is and what is involved...
And just so you know, your answer will probably lead me to more questions...but that's just me...
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell |
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lynndiane
Texas
3 Posts |
Posted - 02/11/2011 : 11:19:56 AM
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I am considering becoming a signing agent, and don't really know much about it. Would love some input on the pros and cons before deciding to get certified....anyone?
Lynn in Corpus |
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