How to become a loan signing agent | edX

How to become a loan signing agentLoan signing agents are a vital part of the real estate industry. This career can be highly rewarding for those who have a knack for financial transactions and legal matters. Read on to learn how to become a loan signing agent and what to expect day to day.Browse online finance programs and coursesWhat does a loan signing agent do?Loan signing agents oversee all aspects of the final phase of real estate loan transactions, ensuring that the loan documents are properly signed and notarized. They are not loan officers and cannot answer questions about the loans themselves, but they are experts on the documentation.Loan signing agents fall into the general category of legal support workers. According to the Bureau of Labor Statistics (BLS), the mean annual salary for this group of workers was $82,960 in May 2023, which is significantly higher than the $65,470 mean annual salary across all occupations.Steps to become a loan signing agentA loan signing agent is a specific type of notary. You must first follow the steps to become a notary public, then the steps to become a loan signing agent.Step 1: Take a notary training courseAlthough it is not required in every state, a notary training course is extremely helpful. It can provide all the information you need to get started, while also showing potential clients that you know what you're doing. These courses typically last three to six hours, followed by a one-hour exam.Step 2: Meet your state's requirements for a notary public commissionEach state sets its own requirements for notaries, so you will need to check the relevant laws. Common requirements include:Background checkSurety bondNotary stamp, journal, and other suppliesIt typically takes about 4-10 weeks from the time you apply to receive your notary public commission, although this may vary by state.Step 3: Take a loan signing agent courseLike the notary public course, a loan signing agent course is not always required. But it can teach you how to handle complex mortgage documents and demonstrate to potential clients that you have the required skills and knowledge. It typically takes just a few hours, followed by a short multiple-choice exam.Step 4: Follow all legal requirements for your stateSome states require attorneys to be involved in mortgage closings. Others require loan signing agents to obtain a professional license, such as a title insurance producer license. Carefully check your state regulations to ensure that you are in compliance.Step 5: Consider an executive education program in financeCompleting an optional executive education program in finance can help further your career. It shows mastery of complex financial topics, helping to assure potential clients that you can properly handle even complicated real estate loan documents.Get started on edXTo learn more about how edX can help you grow your skills as a loan signing agent, sign up for a course today!Stand out in your fieldUse the knowledge and skills you have gained to drive impact at work and grow your career.Learn at your own paceOn your computer, tablet or phone, online courses make learning flexible to fit your busy life.Earn a valuable credentialShowcase your key skills and valuable knowledge.Explore all finance programs and coursesFrequently asked questionsWhat is a loan signing agent?A loan signing agent oversees the final step in a real estate transaction, ensuring that all loan documents are properly signed and notarized.How much does a loan signing agent make a year?According to the BLS, the mean annual salary for legal support workers, including loan signing agents, was $82,960 in May 2023.How long does it take to become a loan signing agent?A loan signing agent must first become a notary public, which typically takes four to ten weeks from the date of application. If your state requires a professional license, it could take a bit longer.