Deciding to become a loan signing agent in Ohio can put you on the right career path. It can be a lucrative option and even one you can work full-time or part-time.
Most loan signing agents in Ohio work for themselves, which offers freedom, too. Whether you work for yourself or someone else, you want to make sure you understand this career. Let’s look at the job duties and how to become a loan signing agent in Ohio.
Job Duties of a Loan Signing Agent in Ohio
As a loan signing agent in Ohio, you will notarize documents during a mortgage closing. While you can certainly notarize other types of documents, too, most loan signing agents handle the closing for home sale mortgages and refinancing of mortgages.
You will verify the identity of those signing the documents. After verifying the identity, you will walk the signers through the documents and show them where to initial and sign. Then, you will add your notary stamp to the signed documents and deliver the documents to the escrow company.
While you will walk people through loan documents, you won’t provide any legal or professional advice.
How To Become a Loan Signing Agent in Ohio in 8 Steps
Step #1 – Meet Ohio’s Basic Requirements
In the state of Ohio, you will need to be at least 18 years of age and a legal resident of Ohio to become a Notary Public. Along with these two basic requirements, you will also need to be able to read and write English. As long as you meet these basic requirements, you can become a loan signing agent in Ohio.
Step #2 – Pass the Background Check
Before you apply to become a Notary Public, you will need to have a background check done. This will be done through an approved Webcheck provider. What you will need is a BCI report from the provider. As long as you don’t have any disqualifying offenses, according to section 4776.10 of the Revised Code, you can move on with the rest of the steps.
Step #3 – Complete Notary Training & Pass the Exam
After going through your background check, you’ll want to complete the notary training and pass the exam. A three-hour notary course that is approved by the Ohio Secretary of State is necessary. This course will provide you with a better understanding of the duties, responsibilities, and standards of a Notary Public.
You will pay $130 for the education and the testing. There are many authorized providers with both in-person and online options for your course.
After completing your course, you will need to pass the exam. The test is not from the Ohio Secretary of State, but instead from the approved course provider. It will come with your package and may vary a bit from one provider to another.
Likely, it will have about 30 multiple-choice questions you will need to answer. You will have to wait 30 days to retake the exam if you don’t pass it the first time. If you fail twice, you will have to pay to retake the notary course.
Once you pass this exam, you will get a Proof of Completion certificate, which you will need for the next step.
Step #4 – Submit Your Application to the Ohio Secretary of State
The next step is to apply to the Ohio Secretary of State to become a Notary Public. You will need to complete the online application and provide some basic information.
Along with your application, you will submit images of your signature, your criminal record check, proof of your education, and proof you passed the exam. It’s also necessary to pay the $15 application fee when you submit the application.
Step #5 – Go Over the Notary Public Commission
Once your application has been completed, you’ll receive your notary public commission. You will want to review this commission to make sure all the information is correct.
Step #6 – Get Your Notary Supplies
You will need specific supplies to notarize loan documents as a loan signing agent in Ohio. You will need a seal, which can be purchased at an office supply store. It’s also necessary to keep a journal of your records. This can be kept electronically, but it may be easier to handle it with a physical journal.
Both your seal and your journal should be kept securely. They should be locked in an area where only you have access to it.
Step #7 – Complete Loan Signing Agent Training
While all of the steps up to this point have been about becoming a Notary Public, it’s time to get the right training to become a loan signing agent. You will want to complete the best training to ensure you can make more money, take on more appointments, and finish your appointments faster.
With the right loan signing agent training, you can earn $75 to $200 per appointment. Good training will also help you land more appointments and finish them faster. You can complete this training online.
Step #8 – Get Trained in Online Notarization
In the state of Ohio, you can work digitally as a loan signing agent. You can become an online notary and provide online notarization services. This means you don’t have to meet people in person to provide your services.
You will need to submit another application, take a two-hour course, and pass a test to become an online notary in Ohio.
Frequently Asked Questions About Loan Signing Agents in Ohio
How much can I make as a loan signing agent in Ohio?
With the right training, you can earn as much as $10K per month. A loan signing agent in Ohio can earn more than six figures if they are at the top of the industry. However, the average loan signing agent will earn around $47K per year, according to ZipRecruiter.com.
Good training will help ensure you can earn $75 to $200 per appointment. With loan signing agent training, you can also learn how to finish your appointments faster, which boosts your income.
What type of education do I need to become a loan signing agent in Ohio?
You don’t need a degree to become a loan signing agent in Ohio. You will need to complete a three-hour notary course to get your Notary Public commission. If you want to handle online notarization, you will also need to complete another two-hour course.
Along with the notary education, you will likely want to complete a loan signing agent course. These courses can range in length but can provide you with many benefits.
Will I need to pass an exam in Ohio to become a loan signing agent?
Yes, you will need to pass an exam to become a Notary Public. This exam will vary a bit, depending on your course provider.
What will it cost to become a loan signing agent in Ohio?
You will need to pay all the fees necessary to become a Notary Public before you can work as a loan signing agent. These fees include:
- Application fee – $15
- Notary course fee – $130
- Notary Stamp – $30
You likely purchase a few other supplies, as well. If you decide to take loan signing agent training, expect to spend another $200 to $400, depending on the course level you choose.
How long will it take me to become a loan signing agent in Ohio?
The notary course and the exam can both be completed in just one day. Plus, you can apply online and do the background check online, as well.
The state of Ohio makes it pretty easy and fast to become a loan signing agent. You can get your Notary commission in less than two weeks. Even if you opt for loan signing agent training, you can become a loan signing agent in Ohio in about two or three weeks.
Will I need to renew my notary commission in Ohio?
Yes, every five years, you will need to take a one-hour notary course, which costs $45. It will also be necessary to get another BCI background check done and submit a new application for $15. This can all be done within 90 days of your expiration to ensure you don’t have to worry about any interruption to your business.
Can I become a loan signing agent if I am a felon in Ohio?
If you have a conviction for a felony, it can make it harder to become a notary in Ohio. This means it won’t be easy to become a loan signing agent, but it does depend on the crime. The Ohio Secretary of State will need to know that you are a truthful and credible person with integrity.
While a felony conviction may not get your application denied automatically, it can make it harder. All felony charges are reviewed by the Secretary of State on a case-by-case basis.
If you want to become a loan signing agent in Ohio, you will need to follow these steps. It can be a very lucrative career, with the right training.