Posted by LisaM/OH on 4/12/07 10:36pm
Msg #184931

How do I get experience closing loans?

I am a new notary and was wondering if anyone could offer any suggestions on how to gain experience closing loans?

Reply by Signing_Doc on 4/12/07 11:15pm
Msg #184940

The only way to 'get experience' is by DOING it...first off...read message 33325 and KNOW YOUR NOTARY LAWS...2nd...if you are not already familiar with loan documents, i.e. TIL, 1003, RTC (or what these mean)...DO NOT CLOSE ANY LOANS until you know EXACTLY what they are. Do NOT use the borrowers to 'learn on'. There are many courses you can take to learn how to close loans, some are listed here...some are listed else where. IF you can find a loan officer in your area who will show you how to close loans it will be of help. IF you can find a NSA (us) to "mentor you" (usually at a cost to you)...then even better. HOWEVER, do not expect to find a mentor in your area, because they will not teach the competition on how to do it. This is their/our livelihood and we are very protective about this business. I'm assuming that you are a new Notary Public in your state. Congratulations...BUT this is a VERY competitive business (thanks to the NNA...THERE I said it!)...and VERY difficult to get started. Start by doing what I said, then sign up for any and ALL signing services listed here, but DO NOT LOW BALL. Meaning do not accept $50.00 signing from ANYONE. You will find that YOU can't make a living doing it, and you will LOWER the bar for us more experienced NSA's. Also, click on "Find a Notary" at the top of the page, put in your zip code and see how many NSA's come up. THAT is your competition and THEN SOME. Not every NSA is listed here. If you want to ask me, or anyone else any questions off board, feel free to Private Message (PM) me, or anyone in your area. Good Luck and I hope I wasn't too hard on you. Just trying to be realistic.

"Doc"

Reply by Larry/Ca on 4/12/07 11:24pm
Msg #184942

Hi Lisa,

The way I myself, and I expect most others, have started in this business was to become fully educated to the point of feeling confident of being able to successfully complete a loan signing and simply put your name out there and you will receive offers and gain experience. Know your state notary laws, study typical loan documents, take a course for signing agents, read this and other boards, list yourself here and on the other good sites and good luck. This is a business for self starters.

Reply by BarbaraL_CA on 4/12/07 11:46pm
Msg #184945

I highly recommend you purchase The Signing Registry Training Guide. It is very comprehensive on loan documents as well as excellent information on running your business. It can be purchased on Notary Rotary.

Reply by Sher_AZ on 4/13/07 12:30am
Msg #184947

Welcome Lisa Please take Doc's & everyone's suggestions above to heart and read using the "orange" search button at the top. You will find many other's have asked the same question and the reference materials recommended are outstanding!! There are many here willing to help you if you try to help yourself first. Good luck to you and happy reading.

Reply by Joe Ewing on 4/13/07 1:00am
Msg #184951

People used to ask me how do I get fingerprinting experience. I used to say, "you just have to hold hands with a lot of strangers".

You could do it the easy way and find a mentor then steal her contacts. Or the hard way and start at the bottom like most of us did by accepting every $40-60 fax-back double that comes your way from the 100 or so signing companies you signed up with. Eventually you will be able to talk the talk and get the better fees.

Good Luck !

Reply by Becca_FL on 4/13/07 1:32am
Msg #184952

Yo Joe, is that what you tell your PAYING newbies?

Or, do you have another canned answer for them? Just curious.

Reply by ewing2surf on 4/13/07 2:12am
Msg #184953

Re: Yo Joe, is that what you tell your PAYING newbies?

Why do you stalk me Rebecca Fair. I could sue you for your pervious profane personal comments toward me. Does Harry have to ban you from this message board before you quit trolling?

Reply by KBLedgard_CA on 4/13/07 6:32am
Msg #184956

Re: Yo Joe, is that what you tell your PAYING newbies?

Joe, do you do stand up? Obviously your joking Rebecca "stalking" you right? Why the he!! would anyone want to stalk you? Stop acting like a pompous a$$. As for trolls, I have to disagree with you regarding your troll comments. You, IMO, are a troll, especially after you outted a fellow notary at the notary luncheon in front of 30 people in an attempt to be funny. I've seen Rebecca be more of a contributor to this forum than you ever have, IMHO, so chill out.

Reply by BrendaTx on 4/13/07 6:40am
Msg #184957

Re: Yo Joe, is that what you tell your PAYING newbies?

Joe,

If this is stalking (freedom of speech questions) well, then I was "stalked" by at least three posters on this board posting anonymously for a long time and Harry naturally did not remove them for their right to freedom of speech.

They didn't like what I had to say and they expressed their unhappiness about it in very clear terms. That's how I got the name of "Mother Know it All." I didn't cry about it. People have the right to opine about another poster as long as it is not abusively nasty. The truth hurts sometimes...I guess I tried to learn from it and cut back on the know-it-all-ism. I sure didn't call Harry out to solve my personality conflicts for me.

Maybe in your case there is some truth to the points Becca makes...silencing Becca won't silence the truth. If it is the truth, own it. If it's not, what difference does it make?

Time to get the day started. Everyone have a delightful Friday...be careful and prosperous.

Reply by Ndwa on 4/13/07 6:46am
Msg #184958

Ego don't fly.... n/m

Reply by BrendaTx on 4/13/07 7:20am
Msg #184961

Re: Ego don't fly.... Andy, the Asian wisdom you bring to

this board is priceless. Asian-on, brother. The world can definitely benefit from quotable "you".

Reply by Becca_FL on 4/13/07 12:48pm
Msg #185025

Re: Yo Joe, is that what you tell your PAYING newbies?

Stalking? That's funny, Joe...you wish. Sue on brother and good luck with that.

Reply by Loretta Reed on 4/13/07 6:56am
Msg #184960

Is this your only job now, Lisa? I sure hope not. You got in at the end of the loan "bubble".
Go to the "find a notary" button on the top left and type in your zip code to see how much competition you have within a 50 mile radius. It may be more than you think. Then take a couple of classes, like everyone else says, and study the docs and get to know what you are doing before you venture out. My sister was doing this and decided that this was not what she wanted to do. Drive an hour or so (one way) and then stay with the borrowers hoping they will sign the docs so you didn't waste your whole evening and the drive back. She got every crappy subprime deal for a while and customer after customer was refusing to sign or keeping her at the table for a couple of hours so she went back to waiting tables.

Good luck to you. It's a dog eat dog profession but if you are a self-starter and really are aggressive about getting clients, you will do fine. Just don't take the $40 or $60 offers. Not worth it.

Reply by CharlotteTX on 4/13/07 9:10am
Msg #184974

You put your whole self in,
You put your whole self out;
You put your whole self in,
And you shake it all about.
You do the Hokey-Pokey,
And you turn yourself around.
That's what it's all about

Ye, Ha !!!!!!

Reply by BrendaTx on 4/13/07 9:16am
Msg #184975

Excellent Advice, Charlotte.

This applies to more than loan signing work!

Reply by TXNotary on 4/13/07 1:39pm
Msg #185044

We as loan signing agents do not close loans. We witness signatures and notarize the documents in the loan package. Loan closers (they usually work at the title company) are those that fund the loan.