If there has been a stir in Side Hostel Nation over the past few years, it has to become a loan signing agent. Loan signing agents are mobile notaries who help ease mortgage closures and can get $275- $200 after each appointment.
In this article, you will learn what it takes to start a mobile notary business and get a better idea if Mark Wells’ loan signing system is right for you. Mark calls it the “best real estate secret” and is a great cheerleader for his program.
What is Mobile Notary?
A mobile notary is a notary public who travels to your home or office to notarize a particular document or set of documents. These documents range from legal documents such as wills and trusts to car titles and home loan documents. A mobile notary verifies the signer’s identity, the signer signs the document, and then signs and stamps the document. This is a very simple, but very important task.
What do notaries do?
Let me first ask the question, “Why do they need notaries?”
A mobile notary travels to public meetings where a client, such as a real estate agent, requires a notary public at the location to sign the documents, such as loan applications or real estate transactions. Some mobile notaries also work in traditional office settings and call for travel assignments, while other professionals work exclusively for a company or as an independent contractor in a mobile role. As a notary public, you serve as an impartial, third-party witness to ensure that the documents are signed with a valid signature and that all parties comply with their specific transaction laws. And the rules are clear.
The purpose of a notary is to:
- Verify a person’s identity and make sure who they say they are.
- Witnesses sign the document (s) that need to be noted.
- If a notarized document is under discussion, the notary can be sued. Notary work is very important and should not be taken lightly.
How much work can you do as a mobile notary signing agent?
With a kid at home, evening activities, and a husband who works full time, people sign around 8-12 every month and make 900 dollars.
Mobile notary jobs and earnings
One of the benefits of being a mobile notary is that meetings are signed here every day. It is sometimes frustrating not to accept these appointments due to other responsibilities, but there are signing agents who work full time and make 15,000 per month.
Of course, other factors can affect your income, such as the size of your city and the weather conditions of the real estate market.
Still, there are notary loan signing agents across the country who are part-time and full-time professionals in the business.
A notary public in London is earning an average of $ 8,000 / month and some are only in the third month of their full-time business. People started working full-time just a year ago.
What are the requirements to become a mobile notary?
Eligibility to become a mobile notary public is similar to that of a traditional notary public, which varies by state. In some states, such as California, you have important requirements before working as a notary public, including completing a state-approved training course and passing an exam. In other states, you may only need to complete one application. In addition to these requirements, a mobile notary public must have reliable transportation, a valid driver’s license, and a clean driving record. Strong interaction, communication, and time management skills, such as attention to detail are required.
The requirements for becoming a mobile notary vary from state to state. Because it doesn’t make sense to describe 50+ different sets of requirements here.
Download and complete the application from the Secretary of State’s website.
Fill out the application and have it notarized. (Job security, right?
Application Send your application with a 5,000 bond and an application fee of 43 dollars.
The Secretary of State will then conduct a background check. If you pass, you will receive your notary commission in the mail in a few weeks.
Arizona has a handbook that reviews the rules for yourself, how to fill out a notary logbook, and much more. Arizona also offers one-on-one personalized classes to help people learn and learn about notary public laws and notices.
In other states, such as California, aspirants to become a notary public must take a class, pass a test, and take fingerprints before receiving a commission.
Again, before you sign up for a loan signing system or any training program, double-check your condition.
Mobile notary conditional checklist:
- Make sure you meet all the needs of your state.
- Take training courses from a state-approved vendor.
- Complete your state’s notary application form.
- Pass the state-administered exam.
- Complete background check.
- Receive your commission certificate from your state by mail.
- Get a security bond.
- Register your bound and office oath with your local county clerk.
- Buy your notary journal and notary stamp from a designated retailer.
- Get E&O insurance (optional, but strongly recommended).
Expenses for starting a mobile notary business
How much does it cost to start a mobile notary business? Here are some common start-up costs?
Getting your notary commission
The costs involved in obtaining your notary commission also vary from state to state. As mentioned above, the cost of becoming a notary in Arizona is (68 ($ 43 for the application and $ 25 for the required 5,000).
The process was very inexpensive and took a few weeks to complete. People expedited their application for an additional $ 25, but instead used the processing time to study loan signing documents. The California test and application, on the other hand, costs $ 40 and requires a bond of 000 15,000, which costs $ 38, plus the costs and time required.
Defects and Omission Insurance
Errors and Omissions Insurance coverage requires a minimum of 000 100,000 at most for most companies with which Notary works, such as title companies and signing services. This is important because it protects you from mistakes and possible legal action.
In my state, it’s worth 104 per year. The same policy is used by California’s E&O Insurance 6156 per year. Other states are less than $100 a year, so make sure you visit your state.
In any case, be sure to calculate this insurance cost in your initial estimates.
A notary stamp
- This may not be surprising, but you will also need a notary stamp. I bought mine on Amazon for about 15 dollars.
- The company you are purchasing from will send you an email and you will respond with your notary commission certificate.
A notary journal
- Most states require a notary journal which costs $ 10-. $15.
- A notary journal is a physical log of your work. In it, you will enter:
- Name, address, and identification information of the person signing the documents
The type of document you are notarizing
- Document history
- Date document was notarized
- You received a note for notation
- A laser printer and scanner
The most expensive piece of equipment you will need to get started is a laser printer with dual trays so you can print legal and letter-sized documents. A scanner is preferred. There are price limits, but all you need is a basic laser printer, which you can buy at 250-400 dollars. If you do not purchase a printer with a built-in scanner, you will need to purchase a separate scanner.
People stopped buying more expensive color laser printers with scanners so they only had one printer for my business and family.
A small but important expense is paper. You will need to have both legal and letter documents on hand at all times. Shop in your area and online to find the best prices.
A bag or briefcase
You will also need some kind of bag to carry your luggage and loan documents. People made a custom bag for themselves, but there are very cheap options available and you already have the bag. Just make sure you have everything you need at the time of signings, such as documents, your stamp and logbook, and some pens.
National Notary Certification
Many companies you work for will want you to be National Notary Association certified. The fee is $ 65 a year, including a background check.
Optional (but recommended): A training program
And last but not least, the training program that helped me to get started was the Debt Signing System (LSS) course.
Best Loan Signing Agent Training Course
All in all, the cost of my initial expenses. 800. This included everything from getting your LSS certificate to being a printer and related equipment. However, this will vary depending on the specific items you what is included in the course?
- Choose to purchase as your state.
- This course takes you through every document you find in general.
- Home loan purchase
- HELOCs (Domestic Equity Line of Credit)
- Home Seller Packages
- Reverse mortgage
The Loan Signing System course includes a set of documents for you to print off and use during training and practice on your own. The creator of the course, Mark Wells, explains each document and closes you completely so you can see what he does in the signature.
How is the course designed?
This training also includes information on signatures after you become a notary. It includes a list of reputable signing service companies, and how to get signatures directly from loan officers and escrow officers. In some videos, Mark is training live with a small group of people using the conference call format. I found this helpful because some participants asked questions that allowed them to explain and explain common questions.
What is the most helpful part of a loan signing system?
A bonus of this course is that he goes through the whole signature so he can see what he does when he signs. I’m a visual and audio learner, so looking at the documents and holding them in my hand as soon as Mark sees and hears them has helped me understand what I need to do.
Ridiculous story: I recently refinanced my home and they did so with a loan signing system graduate signing our loan! He did everything exactly as I did and as Mark taught in the course.
The difference between a mobile notary and a notary public
Requirements: Must be a notary commission.
Services rendered: Mobile notary travels to customer’s place to give notaries. They may charge a maximum fee for notarization services as prescribed by state law. In some states, they may also charge a separate travel fee to travel to the user’s location.
Where mobile notaries can offer services: Mobile notaries can offer services in any US state where they have a notary commission.
Requirements: Must be a notary commission. The signing agent must be background screened and certified to meet the compliance requirements of the companies performing the assignment. Requires title insurance license, terminal agent license, or other special licensing in certain states.
Services performed: Notary signing agents notarize signatures on loan documents and will travel to the signatory location to do so. They are generally expected to perform additional duties including loan document packages during assignments, such as providing the loan document package to the printer and the signatory, ensuring that all necessary signatures for the loan document package are obtained. And get early acquisitions, and send complete documentation packages by mail. Title Company or Lender.
Where notary signing agents can offer services: Notary signing agents are prohibited from doing business in some states.
The notary public is appointed by the state government, such as the Foreign Secretary, the Governor, or the Lieutenant Governor. In some cases, they may be appointed by the state legislature. Their job is to witness the process of signing various legal documents. They are there to verify the identity of the person who signed the document. With a few exceptions, such as Puerto Rico and Louisiana, notaries cannot offer legal advice or prepare legal documents. Protests against promissory notes and dishonest checks may be drafted in some states, such as Florida notaries. In most cases, a notary can certify a forged or forged document.
Offices that deal with documents that require notarization, such as law offices, auto dealerships, lenders, insurance brokers, and healthcare providers, often work on notaries. But, it is not possible for people to work in a notary and this is where a mobile notary service is played.
How can Mobile Notary Public help you?
Everyone needs a notary public at some point because many transactions and legal documents must be notarized. Finding a well-known notary public can be a waste of time when you need short notice. If you don’t already have a notary public on your staff, mobile notary service is what you’re looking for. Mobile notary service providers will travel to your location and at a time that is right for you, saving you valuable time and money. Many mobile notary signature companies provide insured and certified notary public that you will need notary services whenever or wherever you need.
What Documents require notarization?
- It is important to know the documents that require notarization. The following is a list of documents that require notarization.
- Trusts, deeds, and wills
- Documents that transfer assets from one person to another are generally required to be notarized. It includes:
- Trusts, which means setting aside money to be used for a specific purpose.
- Process documents are used to transfer property.
- Wills are divided between one’s property and estate after one’s death.
- Medical documents
- Medical documents stating that it identifies behavior that a person may want to deny or request when a person suffers from an injury or illness also needs to be noted. Is. These documents are also called “long live” or healthcare declarations. These documents need to be noted to ensure that there is no dispute about the health care provided to the individual and that doctors are qualified to meet the person’s wishes.
- Healthcare proxies should also be noted. These are documents that allow the patient to make health care decisions for another person if the patient cannot make his or her own health care decisions.
- Granddaughter of Attorney
- The Power of Attorney is a legal document that allows the person to act on behalf of another person in his absence. If the power of attorney is universal, limited to certain actions, or for a certain amount of time, it must be notarized. It is important to notarize a grandson of an attorney to be accepted by the courts of law, corporations, and banks.
- Long-distance contracts
- Agreements between two parties that are not in the same place also need to be noted so that the person signing the document is the same person whose name is in the document. A document in which both parties in the same room may not need to be notarized may require a notary public to notarize the document as the parties are in different cities.
It is the job of the notary public to ensure that the documents are signed by the people whose names appear in the documents. This is important because it eliminates the possibility of people signing invalid or entering into legal agreements without their free will. A mobile notary signing agent will save you valuable time and money and make it easier for you to get caught by a certified and insured notary.