Posted by Anonymous on 4/24/06 5:28am
Msg #115466

Several questions

I will be moving to California this summer and establishing myself as a mobile Notary Public and Loan Signing Agent.

First question: Once I take the exam, can I go ahead and get the live scan done before I get my test results, in order to streamline the whole process, or do I have to have certificate in hand to get the live scan done? I have already taken the 6 hour class online.

Second question: I intend to purchase E&O insurance, is there a suggested level of insurance and what are some good vendors for said insurance?

Third question: For those notaries that get edocs, are they in either PDF or Word format? Do I need to purchase additional software in order to accept edocs?

Fourth question: For non-loan signing business, what would be a good payment policy? I am thinking I do not wish to accept personal checks, but I do not wish to get a vendor account with Visa/MC. Are mobile notaries expecting cash or cashiers checks/money orders, instead of personal checks?

Sorry to clog the board with my silly questions. Thanks in advance for answering them.

Reply by NCLisa on 4/24/06 8:24am
Msg #115474

I think CA still requires you to get a bond also. I know that was a requirement when I was there. After I took the notary test in CA, I was bombarded with catalogs from companies wanting to sell me stamps, bonds & e&O insurance.

If edocs are sent to you by the lender, then they provide software free of charge. Sounds like you have no experience at as an NSA. You will have lots of very experienced competition in any part of CA. We were using signing companies and mobile notaries when I was an escrow officer out there in the 1990's.

I've started doing other mobile notary work here in NC. Most people don't have a lot of cash on hand. If you don't take personal checks, you aren't going to get paid in most cases.

Reply by Blueink_CA on 4/24/06 10:33am
Msg #115501

1) You will receive your live scan application with your passing test results. About 10-12 days after the test.

2) This is up to you. Most SA's are satisfied with 25K E&O. Some lenders/TC's require 100K.

3) Like Lisa said, the lenders will provide you with the required software. Just make sure your computer is up-to-date and you know your way around a keyboard.

4) The only non-signing agent work I do anymore is for friends. I usually ask for lunch.

BTW: If you know where your moving to, check out your competition on this site. (Find a Notary)

Reply by Colonel_IA on 4/24/06 11:41am
Msg #115519

After you move be sure to let us all know how many companies comply with your requirement of a cashier's check or money order and no personal checks.