I am returning to the notary business after taking some time off. I would to continue with loan signing. I would appreciate some help and or advise. I realize that once you have taken the loan signing course and received a certificate; it never expires. My question is; Since I have not done loan signings for more than four years, should I retake the course? What companies are reputable? Where would some one go for employment? Any advise would be greatly appreciated. I reside in the Monterey Bay area.
Not knowing your circumstances, I have no idea how much knowledge you have regarding loan signings. Secondly, we are not employed by anyone, we are independent contractors as loan signing agents.
The way to get business is to sign up with as many Title companies, Signing Services as possible.
Only you can know if you are still qualified to complete loan signings. I wish you luck.
Thank you! I greatly appreciate your response!! You have given me a better idea on how to approach this situation!! Thanks again!! 😀
This industry has received a bad reputation for the way they have treated notaries and have not paid them or just severely discounted the notary compensation to attract mortgage companies. There are still a few good companies out there. Use these forums to share which companies are good and which to avoid. You can also share marketing ideas.
AS a R.E. broker who was concurrently a mortgage broker the big “problem” with loan signing is that it all has to happen exactly on the date specified. All of the signing parties have to be present and each and every signature line has to be signed and/or properly initialed. Why? The loan proceeds are executed on the very same day and hour that the title company insures the title and the title records (deed, mortgage, title insurance, risk management insurance) .. all must record at the exact same time. (X is out of the picture and Y is in the picture. IF THAT DOES NOT HAPPEN it all goes back to square one .. the mortgage company has to issue a new set of docs! Escrow does NOT close. LOSSES occur. When losses occur lawsuits are filed. E&O insurance is claimed. Moving vans go on hold and charges go up. Moving van wages go on over time. Moving van is unable to keep its appointments. The COSTS are staggering SO it all has to happen like clock work. Woe be to the party who causes the delay .. they are the defendant in a number of LOSSES and E&O may not cover the loss!
As a banker I originate and sign loans as a part of my job. Know that the regulatory environment for signing loans has increased. An error due to “I-didn’t-know” could be costly. By way of suggestion, I believe you should take the course to re-certify. It can only reaffirm what you know, teach what you don’t know and provide renewed confidence in your work. An updated certification can only help your business.
It would be better that you take that course again because there must be some changes in rules and regulation of that state as well as in course.So it would be better that you start that again to avoid any legal action due to lack of knowledge.
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