Are notary loan signing agents in demand?

What are the notary trends for 2024?

Welcoming 2024: Notary Trends on the Horizon

As we step into the new year, expect to see notary services embracing blockchain technology for enhanced security and transparency. Blockchain ensures that notarized documents remain tamper-proof and easily verifiable, providing an additional layer of trust.

What is the future outlook for loan officers?

The Bureau of Labor Statistics projects 2.9% employment growth for loan officers between 2022 and 2032. In that period, an estimated 10,400 jobs should open up. Loan officers advise, authorize and recommend loan approval for individuals and businesses.

Is notary a good side hustle?

A Notary commission can open the door to more than a dozen additional money-making opportunities. Being a Notary shows that you have integrity and it establishes a level of trust that gives you a leg up on your competition — even if you're not directly using your commission for every freelance job that comes your way.

What type of notary makes the most money?

#1: Loan Signing Agent

One of the most lucrative ways to make money as a notary public is by becoming a loan signing agent.

Where are notaries needed the most?

Banks, Mortgage Lenders, and Other Financial Institutions

As we pointed out, loan and mortgage documents require signature verification. The same goes for other financial agreements as well. That means financial institutions will need notary services on a regular basis.

How many hours do loan signing agents work?

It's absolutely feasible for a full-time loan signing agent to do 15 signings per week, working roughly 40 to 45 hours (including appointment and drive time). Completing 15 signings each week at $100 per job is roughly $1,500 in 7 days…or about $6,000 a month… and around $72,000 a year.

What is the job outlook for a notary signing agent?

These professionals ensure that all loan documents are properly signed, notarized, and returned for processing, making the closing process smooth and efficient. With the rise of remote work and digital transactions, the demand for skilled notary loan signing agents has never been higher.

What is the most common mistake made by a notary?

One of the most common mistakes that notaries make is not printing or signing their name exactly as it appears on their notary commission.

Do banks hire notary signing agents?

A Notary Signing Agent is a Notary who has been trained to handle loan documents in real estate transactions. Lenders and title companies hire Signing Agents as independent contractors to assist in the last step of the loan process, which enables the loan to be funded.

How do notary signing agents get clients?

Many Notaries agreed that getting the word out in your community is one of the best ways to find new customers. If someone needs a notarization but aren't sure where to go, word of mouth about your business can be key to getting signers to come to you first.

Is becoming a loan signing agent worth it?

Increased Earning Potential: Loan signing agents can earn more than notary publics, especially if they are able to complete multiple signings per day. Expanded Services: By offering signing agent services, you can provide a more comprehensive range of services to your customers, increasing your value to them.

How do loan signing agents get paid?

One common payment method for loan signing agents is a flat fee per signing. This means that regardless of the time it takes to complete the signing, or the number of documents involved, the signing agent will receive a predetermined amount for their services.

How much do loan signing agents charge?

An ample fee of $150 to $200 ensures a skilled and knowledgeable notary loan signing agent is hired to complete the loan signing job. Additionally, every single loan has an important deadline that it has to be met — whether it is a rate lock, a purchase contract, or it is simply the end of the month.

What are the cons of being a notary?

Can I be a part-time loan signing agent?

Thus, peak time to work for loan signing agents is evenings and weekends. For this reason, if you're looking for something to supplement your income around your existing job, and would like to make $75 to $200 in an hour, then being a loan signing agent could be the most convenient part-time work for you.

How to be a successful loan signing agent?

Loan signing agents that provide quality services, including being punctual, professional, and efficient, are likely to be more successful than those who don't. It is also important to double-check all documents for errors before sending them back to the client.

Why do loan officers quit?

Trying to do too much, not taking time away from work, or using outdated technology are some of the few reasons that loan officers burn out and turn to other career options.

Can a loan officer work from home?

"It's one of the most flexible jobs out there," says Glover. "You can fit your schedule around client meetings, and most employers are supportive of you working from home, in my experience, that's been a common practice for loan officers even before the pandemic."