(**) Disclosure: This post may contain affiliate links, meaning RealEstateCareerHQ.com will get a commission if you decide to make a purchase through the links, but at no additional cost to you.
To become a notary in Alaska, applicant must submit an application to the Office of Lieutenant Governor, pay the $40 registration fee, get the $1,000 surety bond, purchase the notary seal and other business supplies.
Although you could work on different types of documents, the loan signing business in the real estate market seems to be a lucrative niche.
So what does a loan signing agent do? When people are getting a mortgage to purchase a house, or they need to refinance their property, there will be loan documents involved. Your role as a notary loan signing agent is to walk through the set of loan documents with the borrower and witness them in signing the paperwork.
You would also need to verify the identity of the signers, place the notary stamp on the signed documents, then send them back to the signing services company or closing attorney.
But keep in mind that you should NOT be providing legal advice, and you cannot explain the terms of the loan documents to the borrower.
In this guide, you’ll learn the steps to become a notary in Alaska, income updates, and FAQ about this profession.
But before we start, I want to give a brief disclaimer. This post is not intended as legal advice or state/federal notary public training. It is for general information only. Please check with your state to be sure that loan signing agents are utilized in the closing process. Always follow your state’s notary laws and best practices.
Would you like to learn how to make $75 to $200 per signing appointment? You must check out the Loan Signing System from Mark Wills. (**) This is one of the best training programs for loan signing agents. Many students have achieved remarkable business success after taking this program.
6 Steps to Become a Notary in Alaska
Step 1: Meet the basic requirement
- At least age 18 of age
- Resident of Alaska who are legally in the U.S
- Have not convicted of a felony or incarcerated for a felony conviction within the past 10 years
Step 2: Purchase a surety bond
The Alaska Office of Lieutenant Governor requires you to purchase a $1,000 surety bond with a 4 years term. You may get it from a licensed surety such as a notary bonding company, an insurance company, or a notary organization. You could search for them online.
Note that the surety bond is to protect those for whom the notary public performs a notarization, but not you as a notary public. If you need coverage for your professional services, you should consider getting an Error & Omission insurance (E&O).
I just checked with a surety bond issuer. Below is their premium structure.
| Coverage | Premium |
|---|---|
| $1,000 bond with $5,000 E&O coverage | $45 |
| $1,000 bond with $10,000 E&O coverage | $75 |
| $1,000 bond with $20,000 E&O coverage | $95 |
Source: Suretybonds.com (Aug 21, 2020)
Step 3: Submit the notary application to the Office of Lieutenant Governor
The Alaska Office of Lieutenant Governor is responsible for appointing and commissioning notaries. You may find the application here.
Most of the questions on the application are pretty strict forward—for example, your name, business address, background info. Make sure the name on the application will be the same as when you are notarizing documents.
You must sign the application and take an oath of office in front of a notary public. An oath of office is an affirmation that you agree to assume the duties of a notary public and that you will comply with the rules and laws. You are search for a notary public in the Alaska Notary Commission Directory.
There is a $40 application fee. You can pay with a check payable to “State of Alaska”.
Once all documents are ready (including the surety bond), you may mail them to: Office of Lt. Governor, Notary Office, P.O. Box 110015, Juneau, Alaska 99811
Alternatively, you may submit the notary application online
Not only it saves the cumbersome of mailing time, but using less paper is also good for the environment.
To do so, you must first create an account at myAlaska. After you complete the application, you may upload all the required documents to myAlaska. But make sure to save the files to a PDF format.
Within the online submission, you may pay the application fee with a credit card.
Step 4: Receive the notary commission certificate
Once your application is approved, you will be provided with a notary commission. They will email you a PDF copy of the commission certificate and mail a hard copy to the mailing address that you have provided.
You should review and make sure all the details on the commission are correct. (e.g., your name, county of residence, commission dates).
Step 5: Get a notary seal
According to the Statutes Law, Chapter 44.50 Notaries Public, to start the notary signing business in Alaska, you must have a notary seal. This helps you to include specific info in every document so you won’t leave out any required details. It also helps prevent fraudulent acts and make the signing agent an impartial witness.
You may purchase the notary seal from office supplies store. Also, its design must comply with the regulatory rules.
Sec. 44.50.064. Official seal. (a) A notary public shall keep an official seal, which is the exclusive property of the notary public, and shall ensure that another person does not possess or use the official seal.
Quote from Statutes Chapter 44.50.064 NOTARIES PUBLIC
(b) A notary public’s official seal
(1) must contain
(A) the notary public’s name exactly as indicated on the notary public’s commission certificate;
(B) the words “Notary Public” and “State of Alaska”; and
(2) may be a circular form not over two inches in diameter, may be a rectangular form not more than one inch in width by two and one-half inches in length, or may be an electronic form as authorized by regulations adopted by the lieutenant governor.
You must keep the notary seal in a locked and secured area, where only you have direct and exclusive control of it. (e.g. a locked drawer or cabinet.)
As I’m reading on the Alaska Office website, it states that a notary seal’s impression must be sharp and legible.
It also needs to be photographically reproducible. This is why they suggest getting an inking notary seal and not an embossing seal. Because the latter is not photographically reproducible by default.
Step 6: Maintain a good record of business practice with a notary journal
As a notary signing agent in Alaska, it’s better to maintain a journal of all the notarial acts. Keeping a good record of your notary acts is an essential part of good business practice. It could serve as proof that you have taken reasonable steps to identify the signer of a document. That is why many notaries would keep a business journal.
If your journal is maintained in a physical format, it is better to have one bounded with pre-printed pages. You may find it at stationery, office supply stores, or through notary associations. Whereas for a journal in an electronic format, it needs to be a permanent, tamper-evident.
I checked with other states where a journal is mandatory. They typically would require the notary to record the following for each entry:
- The full name and address of the signer
- The date and time of the notarial act;
- A description of the notarial act;
- The method used to identify the signer
- Amount of fees charged.
Furthermore, you should retain the journal for a reasonable period (i.e.,at least 10 years from the last notarial act.)
Here’s a Snippet of What Stephanie Espinal Think about Being a Notary Signing Agent!
“My advice is that don’t be afraid to start the loan signing career on a part-time basis. I would also tell them that they need to be passionate about the profession and not just because of the money. They must dedicate their time to learning the business and notarial laws from your state.
You will be working with people’s financial lives and any mistake you make with cause them a lot of money.”
– Stephanie Espinal, Notary Loan Signing Agent
Here’s an exclusive interview with Stephanie. In there, she shared what it takes to be a notary signing agent as a side gig, her valuable journey, and secret sauce to success.
Does Alaska allow remote online notarization?
I like states that have the option for notaries to work digitally. Doing so could bring you great convenience to streamline your notary practice.
Remote online notarization allows you not to be physically present with the signer. Instead, you would verify their the signer’s identity through video and audio conference.
At the time I’m writing the post, there are emergency rules imposed allows remote notarization in Alaska.
However, this could be a temporary measure. Whether they would revert to in-person notarization afterward is unknown yet. Therefore, you should check with the Office of Lieutenant Governor.
If you want to know how can you work from home as a notary? The tools that you’ll need in your home office. Here’s the post for you.
How much can you make as a notary signing agent in Alaska?
The average annual income of Loan Signing Agent in Alaska is $48,208. The income typically ranges between $29,913 to $60,824. Top earning loan signing agents are making over $90,738.
As mentioned earlier, as a notary, you could work on different documents, but the loan signing in the real estate market could be a lucrative niche.
Top 10 Highest Paying Cities for Loan Signing Agents in Alaska
| City | Annual Salary |
|---|---|
| Tanaina | $61,288 |
| Wasilla | $61,287 |
| College | $54,773 |
| Ketchikan | $54,592 |
| Anchorage | $53,068 |
| Juneau | $52,633 |
| Fairbanks | $52,026 |
| Lakes | $51,692 |
| Badger | $48,969 |
| Knik-Fairview | $48,791 |
Can you make over $10,000/month as a loan signing agent? Be sure to check out our notary earning guide. You’ll find a case study where a loan signing agent has built her business to such a successful figure.
(+) Source: ZipRecruiter – March 11, 2022
Is there demand for notary loan signing agent in Alaska?
According to Alaska Notary Commission Directory, there are 15,133 active notaries in Alaska, of which only 1,021 are registered as a Mobile Notary. Therefore, to maintain a competitive edge in this business, you should consider providing mobile notary services.
As long as people are obtaining mortgages or refinancing their homes, there would be a demand for notary loan signing agents.
All originated mortgages in Alaska
| YEAR | RECORDS |
|---|---|
| 2017 | 14,430 |
| 2016 | 17,503 |
| 2015 | 16,680 |
| 2014 | 14,272 |
| 2013 | 20,363 |
| 2012 | 24,887 |
| 2011 | 19,236 |
| 2010 | 20,697 |
| 2009 | 24,987 |
| 2008 | 17,485 |
| 2007 | 21,167 |
Source: Consumer Financial Protection Bureau – Home Mortgage Disclosure Act (HMDA) (Aug 20, 2020)
Some states are “Attorney States,” which means only attorneys can coordinate the closing paperwork of a real estate. Whereas, others are “Escrow States” where escrow companies would handle the mortgage closing.
According to the First American Title, Alaska is a an “Escrow State.” Here is a post covering the differences between escrow states and attorney states and its impact on the loan signing business.
If you want to succeed in the loan signing industry, you must check out this loan system training program. If you review the testimonials of his students, you’ll be amazed at how the notary career changes their life after they learned from Mark Wills. (**)
Do you need any education or training to become a notary public in Alaska?
You do not need to go through any training or education to become a notary public in Alaska.
However, it is always a good idea to equip yourself with updated notary knowledge. A good resource to learn about this notary signing profession is by reading the Statutes Chapter 44.50 and 09.63. They cover most of the rules you need to know about being a notary public.
Both chapters can be found on the FAQ page on the Alaska Office website. You could find its link in the reference section of the post.
How much does it cost to become a notary in Alaska?
It would cost approximately $167 to become a notary in Alaska.
Here’s a breakdown of the costs to start a notary signing business
| Notary Application Fee | $40 |
| Surety Bond Premium with E&O | $95 |
| Notary Stamp | $17 |
| Journal (Optional) | $15 |
There could be other expenses involved, travel expenses, car maintenance, auto insurance, remote notary technology, laptop and other business supplies.
Can a felon be a notary signing agent in Alaska?
Having a conviction for a felony may impact the application to become a notary signing agent in Alaska. The Office of Lieutenant Governor needs to make sure that you are a person with credibility, truthfulness, and integrity to fulfill the responsibilities of the position.
But having a felony does not necessarily mean your application will automatically be declined. It depends on the severity and nature of the conviction.
In the notary application, it specifies that an applicant:
May not, within 10 years before the commission takes effect, have been convicted of a felony or incarcerated in a correctional facility for a felony conviction.
May not, within 10 years before the commission takes effect have had a notary public commission revoked for failure to comply with notary law or for incompetence or malfeasance in carrying out the duties of notary public.
Quote from Alaska Notary Application
The Alaska Office of Lieutenant Governor would review it on a case-by-case basis. If you have any doubt, you may contact the Office before applying.
How long does it take to become a notary in Alaska?
It takes a 1 to 2 weeks to become a notary in Alaska.
Can an Alaska notary notarize out of state?
No. A notary may only perform notarization within the Alaska’s boundaries.
If you want to know more about notarization for “out-of-state” documents, here’s another post I wrote that you might be interested in.
How to renew notary commission in Alaska?
To renew the notary commission in Alaska, you need to reapply every 4 years. Basically, you will go through the same procedures as you were applying for the initial commission.
By then, you would need to get a notary seal with a new expiry date.
To avoid an interrupted business period, begin the renewal process in advance. Don’t wait till your current notary commission is expired.
Can I notarize for a family member in Alaska?
You must not notarize any documents where you have any financial or beneficial interest in the transaction. Therefore, notarizing a document for any family member could call into question, and such practice should be avoided.
I have more questions about being a notary public in Alaska, where could I obtain more details?
You may contact the notary office at:
- (907) 465-3509 (or 877-764-1234 toll free in Alaska)
- email: notary@alaska.gov
If you are reading up to this point, I bet you must be interested in the notary signing profession. But why reinvent the wheel when there is a proven system that works? Many students had great success following the Loan Signing System (LSS) from Mark Wills. You may click here to check it out yourself. (**)
Disclaimer: The information in this post is for general information only, and not intend to provide any advice. They are subjected to change without any notice, and not guaranteed to be error-free. Some of the posts on this site may contain views and opinions from individual not related to JCHQ Publishing. They do not necessarily reflect our view or position.
(**) Affiliate Disclosure: Please note that some of the links above are affiliate links, and at no additional cost to you. Our company, JCHQ Publishing will earn a commission if you decide to make a purchase after clicking on the link. Please understand that we include them based on our experience or the research on these companies or products, and we recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something through the links. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Reference:
- First American Title- Your Guide to Real Estate Customs by State (source)
- Alaska Office of Lieutenant Governor (source)
- SuretyBonds.com – Alaska Notary Bond (source)
- Salary.com – Notary Signing Agent Salary in Alaska (source)
- ZipRecruiter – Loan Signing Agent Salary in Alaska (source)
- Consumer Financial Protection Bureau – Home Mortgage Disclosure Act (HMDA) (source)
- Justia US Law – 2014 Alaska Statutes, Sec. 44.50.064 Official seal. (source)
- Laws of Alaska – FCCS SB 241 (source)
