Posted by Carla Canterbury on 12/23/05 12:03am
Msg #84297

Ready to become a full time loaning signing agent

I am ready to quit my full time job and become a full time loan signing agent. I live in Baltimore, Maryland and have my Title Agent license. I am looking to network/ and or pick the brains of others signing agents that have done the same. Currently I contract with out of state signing companies like Land America, but am looking to increase my signings by contracting with local banks and title companies. I welcome any advice you may have. I have been doing signings for 2 years now. Oh, and I have no children, just a dog.

Reply by cmd_NH on 12/23/05 5:21am
Msg #84320

Include your state with your name, so people will know where you are...state laws are different. Also click on the orange "search" button. You will find just about anythiing you are looking for. Sign up with as many companies as possible. Welcome to this crazy world of SA's! KNOW YOUR STATE NOTARY LAWS INSIDE AND OUT!

Reply by Genkichan on 12/23/05 8:10am
Msg #84331

Well, the only advise I can give you is: ARE YOU REALLY SURE about this??? Remember, you will have to gross about 4x your current take home salary to either break even or come out ahead with your current dual-job income. Taxes on the self-employed are brutal (even if notary income is exempt from the SE tax only). Run those numbers carefully and make sure you don't get yourself into a tight situation, or be forced to take $50.00 closings, thereby pushing everyone else's rates down in MD. Given our state's requirements, please stick to your higher fee, regardless. It pains me everytime someone calls me thinking I'll do an edoc signing for a whopping hundred bucks (or less).

Good luck!

Vicki/MD

Reply by Art_MD on 12/23/05 8:31am
Msg #84335

Re: Carla, am willing to help...

Good luck.
Feel free to e-mail me or call me. Will help as much as possible.

Art (live in Pasadena, Anne Arundel Co.)

Reply by Carla_MD on 12/23/05 12:24pm
Msg #84400

Re: Carla, am willing to help...

Art, how did you go about building relationships with local Title companies to do signings. Also do you purchases as well or only refi's?

Reply by Art_MD on 12/23/05 12:27pm
Msg #84403

Re: Carla, am willing to help...

I have only done a couple of purchase closings. Most of them are during the day and I only do this part time.

Do you have business cards? If not, get them.

One way is drop in, leave a resume of your signing agent work, include a cover letter and leave several business cards. Make follow up calls. Get name of key people so you know who to ask for.

Art

Reply by Carla_MD on 12/23/05 12:36pm
Msg #84410

Re: Carla, am willing to help...

Thanks Art, I'm all over it.

Reply by Sandy_MD on 12/23/05 8:55am
Msg #84341

Carla which part of Baltimore? I am on the East side and thinking about doing this full time my self

Reply by LilyMD on 12/23/05 9:20am
Msg #84347

Welcome Carla. I'm in the Washington County area so I'm a bit away from you. I've recently me Beth from Towson area. She's really nice. I've found so much on this board. Hope you'll find it as helpful.
Lily

Reply by Carla Canterbury on 12/23/05 11:29am
Msg #84384

Thanks alot for the well wishes!! I'll look Beth up.

Reply by Carla Canterbury on 12/23/05 11:28am
Msg #84383

North east Baltimore near Good Samaritan Hospital. Maybe we could network together? Call me 443-570-2090.

Reply by Anonymous on 12/23/05 9:26am
Msg #84349

No one is going to help as much as you think. They claim they will but really will only go so far. Nobody wants to give you any information that could be the cause of giving business to you that might be theres. As for networking with these other notaries they won't give you any signings. You are on your own. Nothing personal.

Reply by Art_MD on 12/23/05 9:42am
Msg #84356

I can understand not wanting to give away business. But, for example, my coverage area might overlap with another SA coverage area. If I cann't do a signing and the other SA also covers that area, I will try and direct the work their way. I get the same referrals.
Sometimes I get calls outside my coverage area. I keep a list of SA in othere areas handy. I will refer the caller to them. I think I know the quality of the SA that I am willing to refer callers to. I wouldn't refer one of my good clients to a SA I know nothing about.

Part of the reason a lot of MD SA network is to try and keep the scabs out of the business (scab=unlicenced). Our licensing overhead costs cause our rates to be higher than in a lot of places.

Art

Reply by Anonymous on 12/23/05 10:02am
Msg #84364

What do you do? Keep a list of all the non-scabs?

Reply by Art_MD on 12/23/05 11:41am
Msg #84390

I keep a list handy of approx 10 SAs who are Licensed Title Producers who I've been in contact with for up to 3 years. some are 80 miles from where I live. But, TC/SS don't alway know where towns are located, so I get calls for signings 100 miles away. I have someone I can refer them to on my list.

Also, if you do a search on this site for a zip code in MD (try 21122), you would find that most Licensed Title Producers have that designation with their name. These LTP can legally do closings in MD.


Art

Reply by LilyMD on 12/23/05 12:28pm
Msg #84404

I am one of those that Does NOT put the LTP designation on my profile. I have furnished copies to all I work for. I am like a few others I've come into contact with, breaking into the business in Maryland is hard to do and I found by removing the LTP designation from my profiles at many sites allowed my phone to start ringing more. This was over a year ago and I feel it's why I was able to build up my client list as I did.

Reply by Art_MD on 12/23/05 12:33pm
Msg #84408

Re: full time loaning signing agent - Lily

Lily,

A viewpoint different than mine....

The way I think:

If the company is reputable, it is following the law re:LTP.
If they are looking for a SA with a TPL, it helps if they can see the designation so that they won't waste their time calling non-licensed people.

The extra ringing that you get, do they know about the licensing requirements?

Art

Reply by LilyMD on 12/23/05 12:47pm
Msg #84411

Re: full time loaning signing agent - Lily

Yes, Art, I'm sure they know of my license. It's amazing how the fee I quote always opens the door for that conversation with those low paying SS. And, as for the companies I do deal with, they have all received copies as I am sure you and any other reputable LTP has done.
Yes, in the beginning it did help my phone ring.
I find you to be some what snobbish in your comment -- The extra ringing that you get, do they know about the licensing requirements? -- It's as if you feel I would not be working in the same playing field as you.
Lily

Reply by Art_MD on 12/23/05 1:00pm
Msg #84413

Re: full time loaning signing agent - Lily

That was a legit question - there are still SS out there that "claim" ignorance of the law. I was trying to get some idea if they are looking for non licensed SA so they can pay less or are they really ignorant of the law.

I was trying to get info so that I could possibly look at both side of the idea of having LTP as part of my name.

I tend to think a TC would call someone with the LTP designation first. So LTP is a plus.
Some SS might just call first name on the search list - regardless of LTP or no LTP designation.


Art

Reply by Carla Canterbury on 12/23/05 11:32am
Msg #84388

Point taken. I can believe that, especially when it is slow like earlier this month. I will learn though from those that care to share. Thanks.

Reply by KimmyMD on 11/10/06 10:24am
Msg #158683

Just wonderng if I know you? Were you in the airline bussiness

Kim