I know 2 notaries who started the process and probably not moving forward. They are here in FL.
They both got their training for free, which is fine. $10.00 to register with the state. Then you get your seal and have to choose a platform, about 5 of them to hang your hat on I guess. That's where the real money comes in. They run either $450-500.00 per year or $55.00 per month give or take. They said each time you use that electronic seal, there is a surcharge of something like $2.50 per notarization comes from the notary.
The companies they are with said they only want the mortgage notarized. Takes about 5 minutes, you look at their DL, give them an oath and notarize. Nothing about reviewing any docs with them, you are simply notarizing a document. Keep the recording on a thumb drive or disc, and that's it. They pay a whopping $25.00. Out of that, you pay that electronic surcharge for the seal.$22.50 is your return. That takes a lot of this to get your $500.00 back. r is no going over a package or anything, just the most important DOT or mortgage only. The rest they sign on their own time.
Something to think about if you move forward. It may be in demand now as a niche notarization in a crisis, but I don't see a future in it when things normalize in the loan signing industry.
Time will tell, as almost all states now are emergency passing this. It's going to get ugly and will implode on itself with so many flaws and things not legally done and will be contested.
Like the old saying, give someone enough rope they will hang themself. This is RON |
