In the state of Utah, an NP can notarize the signing of loan documents only without giving ANY legal or financial advise or opinion. Any questions about the loan itself MUST be directed to the borrower's loan officer.
A "closer" is a licensed title person who is allowed to talk to the borrower and loan officer about the details of the actual loan agreement.
As a licensed RE broker I am not allowed to become a licensed closer, I would have to give up the RE license, then I would only be allowed to do docs for the particular title company that I signed with. As an NP I am also not allowed to notarize first mortgages.
Going "on contract", they would have to be willing to pay you as an employee and do the workmen's comp insurance, withhold taxes and all, if you were in Utah. How that would be handled in some other state would be worth checking into before signing anything. Personally, I wouldn't sign with any company that required me to sell anything without a sales commission agreement and that is also out of the realm of being an NP. |
