How to Become a Loan Closer

A loan closer is empowered to review, witness and sign documents with borrowers.

Loan closers are real estate and financial professionals who financial institutions subcontract to handle signings. Loan closers are normally not required for unsecured loans, like personal loans, but are mandated for real estate loan transactions. Though the rules vary from state to state, loan closers must adhere to certain general rules.

Things You'll Need

• Certificate of Notary Public (including stamp)

Instructions

1. Review the requirements for loan closers in your state. Nearly every state requires them to be Notary Publics. However, some states, like Massachusetts, require real estate loan closers to be state bar-approved attorneys.

2. Enroll in a loan closing course. These are found at community colleges in continuing education departments, online, or through major financial institutions. While such coursework is not always required, it is extraordinarily helpful, especially if you are new to this field.

3. Apply for your Notary Public license. This is mandated, so see Resources for the requirements for your state. Generally, notaries must have a clean criminal record, be 18 years of age and of sound moral character. In some cases, recommendations are required.

4. Call lending companies in your area after completing a loan closing course and receiving your Notary Certificate and stamp. Ask who they deal with for loan closings. Lenders will direct you to the companies they subcontract for closing work.

5. Call the individual closing companies, (which are often title companies). Request an application and submit to the closing company. If approved, you will be added to the loan closing register. You will now be eligible to close loans for any lending company with whom the closing company works.

References

• Notary Rotary, Signing
• Loan Closer Courses
• NNA: Notary Signing Agents

Resources

• National Notary Association