Hi everyone, I am excited to be here and to learn what it means to be a Notary and Signing Agent! I am in rural Indiana. I went through all of the license and exam process because a Signing Agent drove an hour plus to our place and told us about what he made for that one loan signing. I am looking to pick up part time signings here and there but it seems like every site looking for agents either 1.) Charges another $100 or something just to join or 2.) Is looking for someone with 50+ signings under their belt before they will give you assignments. Iâve already spent a good amount of time and some money getting licensed, buying a notary guide, getting insurance, etc. I am hesitant to spend more money until I see that this process is actually profitable. I am on the NNA site as well as Signingagent.com, Snapdocs and now here with a free profile. It has only been a week so I donât want to get discouraged but what else should I be doing to get a few assignments coming my way? Any other general advice to a new signing agent? Thanks in advance!
@mattdreyer Hmmm . . .
First, know that you are Launching a Business.
As a Business Owner, of course, youâll need to perform your own due diligence!
Second, you owe it to yourself to learn vicariously via the missteps of others whoâve already worn this path thin . . .
That immediately available information can be found within the Notary Cafe database.
This information is a GOLDMINE!
Most members express that they find it difficult/NEARLY IMPOSSIBLE to locate the Search Function in order to access the wealth of information available within the database that has been generously contributed by your sagacious fellow business owners over the years . . .
To be helpful, Iâve inserted an image for you & others [see below] to help members locate it to unlock the wisdom & knowledge of other members on the forums.
Iâve performed a cursory Search on your behalf and here is a VERY INSIGHTFUL & HELPFUL thread to get you started:
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SPECIAL NOTE: Accessing the database to locate information about potential clients has saved many of us an inordinate amount of time âchasingâ payments for Services professionally provided to potential non-payers . . .
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FYI: the Return On Investment [ROI] for paying for a Directory Listing, etc. type of service is usually quite Negative/Nill. Donât do it!
@mattdreyer along with all the valuable advice you will get here, you say youâre in IndianaâŠp!ease note Indiana requires you to have a TPL (Title Producers License) to do loan signingsâŠthat is where your FIRST big investment goes. You can start with general notary work (GNW) but you need that TPL to venture into loan signings.
Not sure what that other notary told you about fees, but read extensively here ⊠In p!ain English, fees ainât what they used ta be!!
Best of luckâŠand welcome
P.S. Wanted to add this after re-reading your post - you said the other notary âdrove an hour plus to our place and told us about what he made for that one loan signing.â - that is something you do not do. You never ever discuss your fee with your signer during a loan signing - for GNW, yes, as they have to agree to pay you, but in a loan signing, fee discussions are between you and the hiring party - not something any notary should be sharing or discussing with the signer.
Thanks Linda. First I became an Indiana Notary, studied and passed the exam which allows GNW (general notary work) and then I passed the Signing Agent Exam. Doesnât that qualify me to get loans signed off, like the notary that came to our place and we signed off on a loan? Or does Signing Agent not do much for you in Indiana, except to check another box before TPL?
And I have no desire to discuss compensation with Clients. The agent was very friendly and open and I was thinking it sounded like the perfect side hustle that could become a full time gig at some point.
@mattdreyer here..
" Pursuant to Indiana Code 27-1-15.6-18(4), an Indiana notary may not engage in a real estate loan closing involving the issuance of title insurance (which includes virtually every real estate loan ) without first obtaining a limited insurance producer license from the Indiana Department of Insurance."
So, quick answer to your question is no, Signing Agent Certification is not enough in IndianaâŠyou need the limited TPL,
Sorry someone did not advise you of this before.
Thank you Linda, I really do appreciate the help. So much to learn for new folks coming into this world!
Thank you for the advice! I didnât think those Directory Listings would be worth it. This is side hustle for me and I will be patient.
You could call the Commissioner in your state. Get complete clarification.
@mattdreyer Youâre Welcome!
Of course, be certain to Research the appropriate âAuthorityâ to provide you with the Title Producerâs License [TPL] for the State of Indiana.
From the Internet, need to take a state-approved 10-hour pre-licensing course; i.e., by Indiana Land Title Association and sit for & pass an exam, as well as be engaged in continuing education units [CEUs], which are required every 2 years.
Iâm certain that Notary Cafe members who reside in Indiana could provide you with more helpful/precise data.
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Also, if the only training youâve undergone is via the NNA - youâll serve yourself BEST by investing in yourself & your business success by undergoing the Notary2Pro Training & Certification program in addition to the TPL.
Here is a thread that is insightful regarding Notary2Pro.com:
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All tolled, you can easily see that embarking on or initiating a business within this business sector in Indiana definitively isnât the proverbial âcakewalkâ that some profess it to be . . .
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I canât speak for Indiana, but here in California, a signing is not a closing. I am a Loan Signing Agent and not a Closing Agent, even if that loan is for a real estate purchase money mortgage. The real estate closing is handled by a title closer who is (usually) an agent for the title insurer. Signed loan documents, as well as deeds and other documents related to purchase are returned to the title closer who collects all funds, pays all fees, then files the documents. I have Errors and Omissions Insurance for my notary work, as well as a Bond required by the state. A notary who works for a real estate brokerage here cannot notarize documents in which the notary or brokerage has a financial interest, so loan signings of purchase money mortgages are restricted to third parties, and all parties would have their own insurance.
Thank you all, I appreciate the help
@mattdreyer Youâre Welcome!
Hope that all the data provided within this thread will assist & support you in the Creation of a Business Plan for launching your entrepreneurial efforts toward starting your business.
Thanks for coming back with this update. Also, please keep us updated regarding how things come together for your TPL, etc.
Best Wishes
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Since you are an NNA member, you can call them with any questions and they will be happy to tell you what you need to do as well,! Thatâs apart of your membership!
Signing Order (signingorder.com)
Mortgage Connect (https://www.mortgageconnectlp.com)
Townsgate (https://portal.townsgateclosing.com)
These are where I get the bulk of my business besides Snap Docs which you already mentioned.
Good Luck. It is really tough out there right now, particularly if you are just entering the business. With the interest rates as high as they have been and the sales as sluggish, there are not a ton of transactions to choose from unless this is your only means of income and you are available at all times all days of the week.
So so helpful, thank you!
You shouldnât have to pay signing platforms to get signings. Snapdocs is a big one, but you should also sign up with Signatureclosers.com and Signingorder.com. They are free and typically send more requests than Snapdocs.I got my first signing with signingorder.com when I started 5 years ago and the first company that sent a request out basically called me to interview me when I first started. If Iâm honest, they asked how many closings I did and I told them 10. I had seen so many videos on youtube and I had practiced so much, I figured I would do a great job and this little white lie would be fine and it was. I do this full time and now do closings for many direct title companies. I also live in a rural area and settle in at about $1000 a week. I could do more, but I travel an hour in many cases because there is not much local business, but it can be good income for us rural agents if youâre willing to travel some. Please do not pay to be on anyones site. I only pay for Notarycafe and thatâs it. Snapdocs is free and so is Signingorder, and Signature Closers. Good luck with your business!
Ooh, havenât heard of signatureclosers.com before, thanks I will try them out! I have only completed 2 jobs so far (neither even required notarizing anything!) and am already learning what you said, donât pay to be on anyoneâs site! I will not. I appreciate the advice!