What Does a Loan Signing Agent Do?

A loan signing agent is a notary public who is specially trained to handle and facilitate loan document signings.

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Introduction

As a loan signing agent, you will be responsible for ensuring that all documents related to a loan are signed by the borrower. This may include paperwork for a new mortgage, a refinance, or a home equity loan. You will meet with the borrower to review the documents and answer any questions they may have. Once everything is signed, you will Notarize the documents and return them to the lender.

Loan signing agents must have a thorough understanding of loan documents and the loan process in order to properly explain things to borrowers. They must also be able to manage their time efficiently as they often work with multiple clients at one time. Excellent customer service skills are a must as borrowers may be feeling stressed about their finances.

What is a loan signing agent?

A loan signing agent is someone who helps facilitate the loan process by ensuring that all the necessary documents are signed and notarized. The loan signing agent is also responsible for delivering the documents to the lending institution. In some cases, the loan signing agent may also be responsible for conducting the closing of the loan.

The loan signing process

As a notary public, one of the services you may be called upon to provide is acting as a loan signing agent. Loan signing agents are notaries who specialize in witnessing and notarizing loan documents for both borrowers and lenders. The loan signing process generally involves the following steps:

1. The borrower(s) meet with the loan officer to sign the loan application and other initial paperwork.
2. The loan officer forwards the signed paperwork to the escrow company.
3. The escrow company contacts the borrower(s) to schedule an appointment for them to sign the final loan documents, which may include such things as the promissory note, deed of trust/mortgage, andTruth in Lending statement.
4. At the appointed time, the borrower(s) meet with the loan signing agent to sign the final paperwork. The loan signing agent witnesses the signatures and then notarizes them.
5. The completed paperwork is returned to the escrow company, which then forwards it to the lender for funding.

In some cases, all of steps 1-5 may take place on the same day; in others, there may be a delay of a day or two between steps 4 and 5 while everything is being finalized.

Loan signing agent responsibilities

A loan signing agent is a notary public who is specially trained to witnessing signatures on documents related to loans and mortgages. Loan signing agents are also responsible for ensuring that all loan documents are complete and accurate, and that the borrower understands the terms of the loan.

Loan signing agents must be impartial and unbiased, and must not offer any advice or opinion on the loan terms or the advisability of taking out a loan. Loan signing agents must also be able to answer any questions that borrowers may have about the loan documents or the loan process.

Qualifications and skills

A loan signing agent is responsible for the coordination and notarization of real estate loan documents. The loan signing agent must be able to clearly explain loan documents to borrowers and answer any questions they may have. They must also be able to ensure that all documents are signed and notarized correctly. To become a loan signing agent, one must be a notary public and have experience working with loan documents.

Qualifications

A loan signing agent must be a notary public in the state in which he or she plans to perform loan signings. Some companies that provide loan signing services may require their agents to become certified through their organization. Although certification is not required, it may help an agent stand out among the competition and demonstrate a commitment to professional development.

In addition to being a notary public, a loan signing agent must have a strong knowledge of loan documents and the loan process. Most importantly, an agent must be able to explain complex documents to borrowers in layman’s terms and answer any questions they have about the loan. A successful loan signing agent is patient, detail-oriented, and has excellent customer service skills.

Skills

There are some basic skills that every loan signing agent should have. The first is people skills. Loan signing agents need to be able to deal with different types of people in different situations. They need to be calm, patient, and understanding, especially when dealing with stressed or angry borrowers.

They also need to be organized and detail-oriented. This job requires a lot of paperwork, and it’s important that everything is filled out correctly. Loan signing agents need to be able to keep track of multiple documents at once and make sure that all the information is correct.

Lastly, loan signing agents need to be good at problem-solving. There are often last-minute changes or problems with documents, and it’s up to the loan signing agent to figure out how to solve them. They need to be able to think on their feet and come up with creative solutions.

Salary and job outlook

Loan signing agents are notaries public who are specially trained to facilitate loan signings. Loan signings are complex transactions that require the attention of a trained professional to ensure that all documents are signed correctly and in a timely manner.

Loan signing agents typically charge by the hour, with a minimum fee of $100. Some loan signing agents may also charge a flat fee for their services.

The average salary for a loan signing agent is $50,000 per year. Job growth for loan signing agents is expected to be 13 percent from 2019 to 2029, faster than the average for all occupations.

Conclusion

A loan signing agent is a notary public who is used by mortgage companies, title companies, and escrow companies to notarize mortgage loan documents for home buyers. A loan signing agent must be impartial and cannot give legal advice to either party in the transaction.

Loan signings usually take place at the home of the borrower, but can also take place at a real estate office, closing attorney’s office, or escrow company. The loan signing agent will review all of the loan documents with the borrower to make sure they understand what they are signing. The loan signing agent will then collect the borrower’s signatures on the document and notarize them.

Once the documents are signed and notarized, the loan signing agent will return them to the mortgage company or title company. The loan signing agent will also prepare a loan signing certificate which outlines what documents were signed and notarized.

If you are considering becoming a loan signing agent, you should contact your state’s Notary Commission for specific requirements. Most states require that you be at least 18 years old, have a clean criminal record, and pass a written exam.