Becoming a mobile notary or loan signing agent can change your life. If you are properly trained and mentored, you can be up and working steadily in a matter of weeks (assuming you already have a notary commission).
We want you to be ready to go the first time you get a call. Your success is our success.
So let's get started....
How to Start
If you have your notary commission, read on. If not, please click
to get started. If your state is not yet listed (it will be soon) then the next best step is to contact your Secretary of State's office. All offices now have websites that can be useful (although I am not impressed with the New York site). On most sites you can download forms and applications, check fees and training requirements.
Let's assume you have your commission. We will break down our mobile notary basic training into several key areas:
1. Understanding the loan documents
2. How to briefly explain the document
3. How to handle a closing from introduction to exit.
4. Understanding the business of loan signing agents (mobile notary).
5. How to handle issues when they arise (and they will).
6. How to keep happy and live a well rounded notary life.
So let's get started with....
Loan Closing Package - In General
A loan closing package is the set of documents that a lender will send to you to have signed by the client or clients. These documents are intended to:
* Explain to the clients where the money associated with the closing is going (HUD-1 or Settlement Statement).
* Secure the lender with property used as collateral (Note and Deed of Trust).
* Disclose to the client (Through various disclosure documents):
-who he or she is dealing with;
-what the lender intends to do with the information they receive; and
-what type of deal the clients are getting into.
* A way to get out of the deal, if it is a re-finance (through a 3 day Right of Rescission).
If you understand this "big picture" then you are already ahead of 50% of the loan signing agents out on the market. Surprisingly enough, very few people take the time to understand the big picture of what they are presenting to the client to sign.
Many closing agents are great at understanding the individual documents. But somehow they miss the overall picture.
Even worse, some mobile notaries will do a "point and shoot" closing. They will offer no explanation of the type of document but will only point to the place the client is supposed to sign. Not a good business model.
Ok, we are 50% up on the others, let's get the other 50%. It takes a bit longer, but why stop now!
Loan Closing Package - Common Documents
The loan package that you will be asked to witness and notarize will contain many documents that generally fit the categories listed above. But you need to be fluent in each document. We will go through the basic ones here.
For now we want you to become generally familiar with each document. As we go on, we will be a bit more specific and show you how to explain the document briefly without giving legal advice.
Here is a list of only some of the documents you will see as a mobile notary. More to come...but for now let's stick to the basics.
Click on each document for a more detailed description.
HUD-1 or Settlement Statement
Deed of Trust
Truth In Lending Disclosure
RESPA Servicing Disclosure
Error and Omissions Agreement
For More Mobile Notary Training, click here.