What is a Loan Signing Agent?
A loan signing agent is a notary public who is hired to facilitate the signing of loan documents. They are often used by lenders, title companies, and other organizations that need to complete the loan signing process in a timely and secure manner. Loan signing agents are responsible for verifying the identities of those signing loan documents, ensuring the accuracy of the documents being signed, and providing a secure environment for all parties involved.
How Much Does a Loan Signing Agent Make in New York?
The average loan signing agent in New York makes $50 – $100 per hour, depending on the complexity of the loan documents and the number of parties involved. On average, a loan signing agent in New York can expect to make anywhere from $400 to $1,000 per loan signing.
Factors That Impact How Much a Loan Signing Agent Makes in New York
Location
The location of the loan signing often has an impact on how much a loan signing agent makes in New York. For example, loan signings in Manhattan tend to pay more than loan signings in Long Island or upstate New York.
Experience
More experienced loan signing agents can typically command higher rates than less experienced agents. Agents with a track record of successful loan signings and strong customer service skills are more likely to be able to charge higher rates.
Number of Parties
The number of parties involved in a loan signing also affects how much a loan signing agent makes in New York. More complex loan signings that involve multiple parties can take longer to complete and require a greater level of expertise, thus resulting in higher fees for loan signing agents.
Time of Day
Many loan signings occur during regular business hours, but some may occur during evenings or weekends. Loan signing agents who are able to accommodate loan signings during evenings and weekends can often command higher rates.
Type of Loan
The type of loan being signed can also affect how much a loan signing agent makes in New York. Refinancing and reverse mortgages often require more complex paperwork and can take longer to complete, and thus command higher rates for loan signing agents.
How to Become a Loan Signing Agent in New York
In order to become a loan signing agent in New York, applicants must be a notary public and have a valid New York State Notary Commission. Applicants must also complete a loan signing certification course and pass the Notary Loan Signing Agent Certification Exam.
Skills Needed to be a Successful Loan Signing Agent in New York
Attention to Detail
Loan signing agents must have keen attention to detail in order to ensure the accuracy and completeness of the loan documents they are signing.
Organizational Skills
Organizational skills are essential for loan signing agents, as they must be able to keep track of multiple loan documents and ensure they are signed and returned in a timely manner.
Customer Service
Loan signing agents must provide excellent customer service to all parties involved in the loan signing process. They must be able to answer questions and address any concerns in a courteous and professional manner.
Knowledge of Loan Process
Loan signing agents must have a thorough understanding of the loan process in order to ensure that all loan documents are accurately completed and signed.
Where to Find Loan Signing Jobs in New York
Title Companies
Title companies often hire loan signing agents to facilitate loan signings on their behalf.
Lenders
Lenders often hire loan signing agents to complete loan signings for their customers.
Websites
There are several websites that specialize in connecting loan signing agents with employers, such as NotaryGo, Signing Agent Network, and Notary Rotary.
Tips for Success as a Loan Signing Agent in New York
Be Professional
Loan signing agents must always maintain a professional demeanor and dress code while on the job.
Be Punctual
Loan signing agents should always arrive to loan signings on time and follow through on their commitments in a timely manner.
Stay Up to Date on Regulations
Loan signing agents must stay up to date on all state and federal regulations regarding loan signings in order to ensure they are compliant with all applicable laws.
Stay Organized
Loan signing agents should always keep their documents and equipment organized and accessible in order to ensure efficient and accurate loan signings.
Communicate with Clients
Loan signing agents should always communicate with their clients in a timely manner in order to ensure that the loan signing process runs smoothly.
Conclusion
Loan signing agents in New York can make anywhere from $400 to $1,000 per loan signing, depending on a number of factors including location, experience, number of parties, and type of loan. In order to become a loan signing agent in New York, applicants must be a notary public and have a valid New York State Notary Commission. Loan signing agents must also possess strong attention to detail, organizational skills, customer service skills, and knowledge of the loan process in order to be successful. Loan signing jobs can be found through title companies, lenders, and websites that specialize in connecting loan signing agents with employers. Loan signing agents should always maintain a professional demeanor, arrive to loan signings on time, stay up to date on regulations, stay organized, and communicate with their clients in order to be successful.