Breaking down the Loan Signing Process – Full time gig or side hustle; knowing what’s what and optimizing signing time.

The notary’s confidence comes from their comfort with the documents.

You’ve scored that all-important loan signing appointment, and hopefully you are being paid a fair rate (for the number of signatures you are notarizing, the number of pages you’re printing and scanning, and the miles you’re driving).

By this time, you should have already taken a reputable loan signing class that has introduced you to the role a notary signing agent plays in these signing appointments. But the contents of the loan package and the number of pages it may have will depend on many factors, such as the type of financing, the specific lender, and the property’s location.

Some examples are cash purchase, commercial loan, residential HELOC or refinance, reverse mortgage application, or final loan, vehicle purchase, or refinancing. The key to confidence with these types of loan packages is becoming as familiar as possible with the key documents that require signatures and understanding their importance to the signer’s transaction. I highly recommend searching for sample loan documents to familiarize yourself with them and to build your own “sample package” for note-taking.

Understanding the significance of each document and how lenders use it will not only make you feel confident when meeting new signers for the first time, but it will also help borrowers have an enjoyable signing experience. Using indicator flags for specific documents in the borrowers’ package and for signature lines/initials locations is also a great way to show your signers that you know your stuff when it comes to the loan package.

Presenting versus advising – the line that cannot be crossed. 

As you gain experience as a notary signing agent, you can practically memorize all the locations where the borrower needs to sign and where the most pertinent information for the loan is located in the package (such as the loan terms and contact information for the loan team). But going back to your basic training as a notary public, you have to recognize that we cannot give out any kind of “advice” when it comes to working with borrowers/signers.

Although you will be knowledgeable in the purpose and information contained within the loan documents, the notary signing agent cannot be drawn into a discussion with the borrowers if they have a question as to why a figure is what it is or if the borrower is asking for the notary’s opinion on an interest rate, for example. The notary signing agent should always refer back to the lending team for those all-important questions of “why” or “how come” something is included on a document that the borrower needs to sign.

Just as a notary public cannot create a document (which is considered an unauthorized practice of law), the notary did not create the documents in the loan package and therefore cannot advise on them or give an opinion. The best place to find those answers is with the source of the documents – the loan officer or title officer. So always have your phone on standby in case the borrowers do want to call and get those questions answered, so you can move on.

Finalizing the appointment with a double check. 

The final impression you will make on your signers is your careful double and sometimes triple check that all signatures and initials are complete – including those in your notarial journal. To ensure the borrowers are comfortable completing the signing, confirm that they do not have additional questions, or help them find the answer or the person who can answer their question, before you leave the signing appointment.

Some escrows or signing services will follow up with a questionnaire or survey to the signers on the notary’s service and how professional the signing was. Through your confident presentation of the loan documents and careful attention to the notarized signatures, your professionalism should truly shine. I’ve had times when the loan signing started off great, but once an error on the documents was found and could not be resolved by the loan team, the signing was halted.

This situation was a bit uncomfortable, but fortunately, I, as the notary, was not to blame. However, the notary signing agent is the face of the lending team when meeting with borrowers to obtain their signatures. But having confidence in your work and professionalism in your manner will keep the situation calm.