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I.
Becoming a Signing Agent |
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A.
Benefits of being a Signing Agent |
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1.
Additional Income
2. Flexible work hours
3. Independence
4. Low initial investment |
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B.
How to get started |
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C.
Information on Becoming a Notary |
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1. Apply for
notary appointment with your state
2. Follow the procedure established in your state
3. Purchase a notary bond and/or Errors and Omissions Insurance |
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D.
Minimum Tools Needed |
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1. Computer
with high speed internet connection
2. Cell phone
3. Laser printer
4. Email account
5. Notary seal |
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E.
Marketing Yourself as a Signing Agent
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1. Listing
in Signing Agent database
2. Posting Resume |
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II.
Loan Closing Etiquette
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A.
Definition of a Signing Agent
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B.
Workflow for a closing
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C.
Signing Agent Etiquette
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1. Be on
time |
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2. Contact
the borrower and lender If unexpectedly running late |
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3. Use
good-manners |
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4. Business
casual attire |
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5. Stay in
control of the signing |
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6. Keep all
parties focused on the documents being signed |
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D.
Remember the “Three Nevers” |
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1. Never
give your opinion of any fee or cost associated with the transaction
2. Never give your opinion of any term or rate related to the
transaction
3. Never discuss personal information with the borrower |
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III.
Explanation of
Documents.-Print, Stack, Clip into proper stacking order |
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A.
Perform document check for the following: |
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1. Deed
2. HUD/Settlement Statement
3. Note
4. Mortgage/Deed of Trust/Security Instrument
5. Mortgage Riders
6. Truth in Lending (TIL)
7. Right to Cancel/Right of Rescission
8. Affidavits
9. Title Documents |
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B.
Presentation and Explanation of Documents to the borrower |
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IV.
The Process |
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A.
Engaging you as a Signing Agent |
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B.
The Closing Package |
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C.
Contacting the Borrower. Showing up on time for the appointment |
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D.
Signing of the documents |
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E.
Leaving a copy for the borrower |
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F.
Contacting your client to confirm closing complete |
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G.
Confirming overnight delivery slip is in the package |
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H.
Returning Package |
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I.
Method of Payment for your services |
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J.
Monitor all parties involved signing and dating |
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K.
Notarize your documents |
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L.
Verifying borrowers identity- provide a list |
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M.
Pitfalls of loan documents |
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N.
Leave the borrower a copy of their loan documents |
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V.
Conclusion |
