While interest rates remain high, competition in mortgage finance remains fierce, and deal flow is still lower than most industry professionals are comfortable with. Despite this reality, there are strategic things you can do to increase your personal earning potential by leveraging your existing skill set and your understanding of the mortgage process.
That’s why many mortgage industry professionals are considering becoming a certified Notary Signing Agent. There is work out there, and the industry won't be in this state forever, so here are the key points to consider:
Expand your services: As a mortgage professional, you’re already familiar with loan documents and the whole process needed to close. Serving as an NSA, you’ll become the critical final link between the banks and the borrower to complete the loan. Expanding your services enables you to say “yes” to a whole new type of business opportunities.
Increase your income: NSAs earn fees for both Notary-based and mobile services, which can be a steady and lucrative source of income. There’s high demand for experienced NSAs and you may be able to charge a premium based on your deep industry experience. A bonus is that you can choose to handle general Notary requests from the public by offering mobile Notary services.
Improve your value: By becoming a Certified NSA, you’ll demonstrate your dedication to understanding all facets of the mortgage lending process. This can help set you apart from others in a competitive market. Becoming an NSA adds to your marketable skill sets and increases your value as an independent contractor.
Improve your skills: NSA training covers a range of topics, including the proper execution of real estate documents, handling sensitive client information, and managing the closing process— knowledge and skills that you already have. The NSA training covers the do’s and don’ts from the Notary’s perspective ... and there may be some don’t-do’s that aren’t on your radar.
Enjoy a flexible schedule: NSA work typically functions as an on-call service. That allows for a high degree of professional flexibility and work-life balance. You can easily set your own schedule and work as much or as little as you like.
Help your community: If you value helping people in need, becoming an NSA is a powerful service. Many underserved groups need notarization services but cannot afford them, including the elderly, the homeless, the disabled, and college students. Providing occasional pro-bono services for them is a great way to support your community and build a reputation of trust and goodwill.
Related Articles:
Mortgage Industry Puts Focus On Education
Why reverse mortgages are good for business
How To Get Your 1st Signing Agent Assignment