How to Become a Notary Closing Agent
Becoming a notary closing agent is a relatively simple process in most states. A notary closing agent is also known as a signing agent. Basically, this person is authorized to facilitate mortgage closings and verify borrowers' identities to prevent fraud during a business transaction. There is no additional licensing required beyond being a license notary public, but taking a class is recommended to reduce the learning curve as you become a notary closing agent.
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Things You'll Need
- Notary Commission
- Bonding
- Notary Stamp
- Notary Journal
- Cell Phone
- Fax
- Errors & Omissions Insurance (optional)
Instructions
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Take a notary public course. You can take one online or at a local college. Fill out the application to apply to become a notary public, which you can get from your selected bonding agency. Bonding is required to operate legally as a notary. Bonding agencies can be found in the Yellow Pages.
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Complete the additional three-hour notary signing agent course. This can be taken online or at a college. The National Notary Association offers this course along with an annual membership and study materials. A local college may offer classroom instruction with sample loan documents, which works best for students with lots of questions.
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Try to find a mentor to observe on a closing before accepting work. A notary closing agent with years of experience is more likely to have insightful tips that can help you navigate your new career. Locate one on LinkedIn.com or at forum site directories such as 123Notary.com. Both sites allow you to ask questions and receive feedback in real time.
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Market yourself as a notary closing agent/signing agent. Place your availability on notary directories, create a website and place classifieds in newspapers to get started. Be sure to include all your basic contact information, such as your cell phone and fax numbers.
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Accept loan refinancing, reverse mortgage, modification closings, etc. These offer the opportunity to use what you have learned. Become acquainted with bank loan officers who can refer business to you as well.
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Tips & Warnings
Consider acquiring errors and omissions insurance in case of mistakes. Typically, the liability amount covers $15,000 and up to $100,000. The volume of loans you complete increases your risk for needing this extra protection.
Check to see if your state restricts non-attorneys from becoming notary closing agents. The National Notary Association can help you determine that.
