Doh! A Home Biz Even Homer Simpson Could Do
by Jon Castle
Published on this site: May 12th, 2005 - See
more articles from this month...
Everyone likes Homer Simpson, moron that he is, because let’s
face it—there is a little Homer in all of us. Have you ever
come across a business opportunity you would have liked to try but
didn’t because you were afraid of your own ineptitude? Well,
leave your fears aside fellow Homer Simpsonites because here is
a business you can start with your eyes closed and your brains on
hibernation mode--Loan Signing!
Loan signers, Notary signing agents, loan signing agents,
mobile Notaries, all of these terms have been used interchangeably
and they all describe the same thing--a traveling Notary Public
(and no, Homer, that’s not an island country somewhere
in the Bahamas). A loan signing agent goes to a borrower’s
home to witness the signing of loan documents. Of course you
need a few supplies (like your Notary ledger), but I’m
not going to get into particulars in this article. What you
really want to know is, how do you get started, what is the
work like, and how much can you make right?
To get started you can join a Notary Association, most of them
have a signing agent section. There you will find more of the basics
to getting started with this business and get your name listed.
They will all try to sell you some really expensive loan signing
classes but that is completely up to you. The smart, un-Homer thing
to do is a search for some Notary signing agent message boards where
you can learn how to get started for free. The process is very simple
and involves a small fee to get a license, ledger, and certificate
with your county.
The work is even simpler. A client (usually a title company that
found your name through a Notary association listing) calls you
and asks if you want to do a signing. They fax a contract that states
how much you’ll get paid, or how much you won’t get paid
if you don’t do your job right etc. After you accept, they
send you the loan package by fax or email. You then call the borrower
to schedule a time frame for the signing which usually takes an
hour. You watch the borrowers sign their papers, you sign and stamp
a couple yourself, the borrowers get
a copy of the loan package, and you get one to overnight back to
your client. Yes, I’ve simplified the process a bit, but not
by much.
Borrowers will ask you what every piece of paper means and will
try to get you to decipher the never-ending stream of legalize contained
therein but guess what? You don’t have to explain anything
to them; in fact, you’re not legally allowed to because you
are not a lawyer (unless you’re also a lawyer—in that
case, kudos for you). You simply explain that you are there only
to witness the signing of the documents and you refer their questions
back to their lender.
How much do you get paid? There are various factors that come into
play, such as location, how long you’ve had to build up a clientele,
the client’s policies, etc. but you can figure as a complete
newbie, to make about $75 a signing. Not bad for an hour’s
worth of work eh? Soon you might even be able to tell Mr. Burns
to go shove it.
We are each a single drop of rain strafed by the wind to merge
with other droplets and thereby form an ocean. For unconventional
home business wisdom, home business opportunities, and more please
visit Jon Castle’s website http://www.AmericanHouseDad.com
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