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To become a notary signing agent in Oklahoma, an applicant must meet the state-eligibility requirement, submit a notary public application to the Oklahoma Secretary of State, pay the $25 filing fee, purchase the notary stamp and other business supplies.
Although you could work on many different documents, this guide will focus on the loan signing aspect in the real estate market.
So what does a notary loan signing agent do in Oklahoma? 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 escrow company.
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 loan signing agent in Oklahoma, income updates, and FAQ about this profession.
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 Loan Signing Agent in Oklahoma
Step 1: Meet the state-eligibility requirement
- At least 18 years of age
- Legal resident of Oklahoma; OR out-of-state resident employed in Oklahoma
- Able to read and write English
- Have not been convicted of a felony
Step 2: Submit the notary public application to the Oklahoma Secretary of State
The Oklahoma Secretary of State is the office that grants the notary commission to applicants and maintains records of all notaries public in Oklahoma.
You need to fill out the “Oklahoma Application for Notary Public Commission.“. The questions on the application are pretty strict forward—for example, your name, business address, background info.
Just make sure the signature on the application will be the same as when you are notarizing documents. Once you filled out the application, you may mail it to Secretary of State, 421 N.W. 13th St., Suite 210, Oklahoma City, OK 73103.
However, the above is only for paper documents, the quickest way is to submit it through their Notary Online Filing.
Rather than waiting for their mail, you may select to have all filed documents send to you electronically. But make sure you provide a valid email address. Also, check your junk folder as sometimes messages could fall into it by accident.
There is a $25 application fee and can be paid by a check or money order. You could make it payable to “Secretary of State.”
Step 3: Review the notary certificate
Once everything is in good order, they will send you an email with the Commission Certificate. You should review and make sure all the details are correct. (e.g., your name, county of residence, commission dates).
To ensure your notary commission is registered correctly, it’s better to check on the Oklahoma Notary Database that your profile appears on it.
Step 4: Purchase a surety bond
The Oklahoma Secretary of State requires you to purchase a $1,000 surety bond. 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 | $25 |
| $1,000 bond with $15,000 E&O coverage | $60 |
| $1,000 bond with $25,000 E&O coverage | $80 |
Keep in mind that you must file the surety bond within 60 days that your notary commission is issued. The form also needs to be signed by the surety bond provider and there is a filing fee of $10.
Step 5: Take an oath of office
The next step is to complete the Oath of Office form and sign it in front of a notary or an officer that is authorized to administer the oath. You may search online, but make sure to find one that has an active notary status in the Notary Database.
Here is a sample of the Oath of Office and Surety Bond Filing Form.
Step 6: Get the notary business supplies
Notarize documents with a standardized stamp
To start the loan signing business in Oklahoma, you must have a notary stamp. This helps you to include specific info in every document so you won’t leave out any required details.
You may purchase the notary seal from office supplies store and they usually would require the details on your certificate.
Also, the stamp’s design must comply with the regulatory rules.
Oklahoma law allows for the use of either a metal seal, which leaves an embossed impression, or a rubber stamp. All notary seals shall contain the name of the notary public and the words “State of Oklahoma” and “Notary Public.” The expiration date and commission number may be part of the stamp or seal. A notary public may purchase the embosser seal or rubber stamp from any office supply store or stamp and seal company.
Quote from Oklahoma Secretary of State Notary Public Guide
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.)
Maintain a good record of business practice with a notary journal
As a notary signing agent in Oklahoma, the State law does not require to keep a business journal.
However, maintaining 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.
If you’re using a paper format journal, it is better to have one bounded with pre-printed pages. You may find it at stationery, office supply stores, or through notary associations.
The Oklahoma Secretary of State recommends recording the following details of each notarization.
1. Date of notarial act;
2. Type of notarial act performed;
3. A description of the document;
4. The signature and printed name and address of each person for whom a notarial act was performed;
5. A description of the form of identification provided (i.e. driver’s license or photo identification) or a statement that the person was “personally known” to the notary;
6. The location where the notarization was performed;
7. The amount of fee charged, if any; and 8. Personal notes.
Quote from Oklahoma Secretary of State Notary Public Guide
It is better to retain the journal for a reasonable period. Some States would require a notary signing agent to keep the record for at least ten years.
Furthermore, besides keeping a physical journal, you could consider maintaining one in electronic format. Make sure it is tamper-evident and complies with the regulatory standard.
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.
Remote online notary (RON) in Oklahoma
One thing I really like about this industry in Oklahoma is the option for notary to work digitally. Doing so could bring you great convenience to streamline your notary practice.
But let me first explain the difference between “Electronic notarization” and “Remote notarization.”
“Electronic notarization,” sometimes known as “e-notary,” is where you meet the signer in person, but the documents are signed and notarized digitally.
On the other hand, “Remote notarization” is also being done digitally. But you are not physically present with the signer. Instead, you would verify their the signer’s identity through video and audio conference.
Starting on Jan 1, 2020, the Oklahoma Secretary of State allows remote notarization.
How to become a remote online notary in Oklahoma?
To become a remote online notary in Oklahoma, you must first be registered as a notary public in the state. Then you may fill out the Remote Online Notaziation application through the Secretary of State website. There is a $25 filing fee.
Once again, there isn’t any education or exam requirement. Since you should have the $1,000 surety bond as a notary public, you do not need an additional bond.
But unlike a traditional notary where keeping a journal is optional, you must keep an electronic journal as a RON. It must be in a permanent, tamper-evident electronic format, where you are required to retain it for at least ten years. The same requirement applies to the audio-visual recording of the meeting with signers.
An entry in a journal shall be made contemporaneously with the performance of the remote online notarial act and contain the following information:
1. The date and time of the remote online notarial act;
2. A description of the document, if any, and type of notarial act;
3. The full name and address of each principal for whom the notarial act is performed;
4. If the identity of the principal is based on personal knowledge, a statement to that effect;
5. If identity of the principal is based on credential analysis and identity proofing, a brief description of the results of the identity verification process and the identification credential remotely presented, including the date of issuance and expiration of the identification credential;
6. If identity of the principal is based on oath or affirmation of a credible witness, the information identified in paragraph 4 or 5 of this subsection, as applicable, that provided a basis for the notary public’s identification of the credible witness, a statement of the basis by which the credible witness claims personal knowledge of the principal, the location of the credible witness, and the full name and address of the credible witness; and
7. The fee, if any, charged by the notary public.
Quote from Oklahoma Statutes Citationized – Remote Online Notary Act Section 206
Select an electronic technology vendor
You would need an electronic platform to conduct the e-notarization. This may include fingerprinting, digital signing pads, cloud-based and encryption processes.
Make sure to choose one that complies with the Remote Online Notary Act.
An electronic seal used for remote online notarizations must substantially conform to the following design: a rectangular or circular seal with the notary public’s name exactly as indicated on the notary’s commission, the words “State of Oklahoma” and “Notary Public”, the notary public’s commission number, and the date of expiration of the notary public’s commission
Cite as: 49 O.S. § 202 (OSCN 2020), Remote Online Notary Act
Want to earn money as a loan signing agent while enjoy working from home? Here’s another post on how you could do that.
How much do notary loan signing agents make in Oklahoma?
The average annual income of Loan Signing Agents in Oklahoma is $43,265. The income typically ranges between $27,651 to $56,225. Top earning loan signing agents in Oklahoma are making over $83,876
Top 10 Highest Paying Cities for Loan Signing Agents in Oklahoma
| City | Annual Salary |
|---|---|
| Enid | $46,311 |
| Midwest City | $46,073 |
| Lawton | $43,864 |
| Broken Arrow | $43,740 |
| Norman | $42,323 |
| Oklahoma City | $42,039 |
| Edmond | $41,857 |
| Stillwater | $41,736 |
| Tulsa | $41,580 |
| Moore | $37,854 |
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.com – March 13, 2022
Is there demand for notary loan signing agent in Oklahoma?
As long as people are obtaining mortgages or refinancing their homes, there would be a demand for notary loan signing agents in Oklahoma.
All originated mortgages in Oklahoma
| YEAR | All originated mortgages |
|---|---|
| 2017 | 78,302 |
| 2016 | 84,730 |
| 2015 | 79,611 |
| 2014 | 76,088 |
| 2013 | 91,830 |
| 2012 | 98,582 |
| 2011 | 81,562 |
| 2010 | 87,420 |
| 2009 | 105,102 |
| 2008 | 90,679 |
| 2007 | 107,739 |
Source: Consumer Financial Protection Bureau – Home Mortgage Disclosure Act (HMDA) (June 20, 2020)
Furthermore, some states are “Attorney states,” which means only an attorney can handle the closing paperwork. Whereas, others are “Escrow States” where a loan signing agent can do the work.
According to the First American Title, Oklahoma is a not an “Attorney State,” which is good news if you are interested in starting a notary 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. (**)
What education do you need to become a Oklahoma notary public?
Well, there is no education requirement to become a notary public in Oklahoma. But there are several good resources to learn about this profession. They are:
- Oklahoma Notary Public Guide
- The Notary FAQ pages on the Secretary of State website
- Remote Online Notary Act on the Oklahoma State Courts Network website
Is there an exam to become a notary in Oklahoma?
There is no exam requirement to become notary in Oklahoma.
How much does it cost to become a notary loan signing agent in Oklahoma?
It costs approximately $147 to become a notary loan signing agent in Oklahoma.
Here’s a breakdown of the costs to start a notary signing business
| Notary Application | $25 |
| Surety Bond with E&O Premium | $80 |
| Surety Bond Filing Fee | $10 |
| Notary Stamp | $17 |
| Journal | $15 |
There could be other expenses involved, such as travel expenses, car maintenance, auto insurance, electronic notary technology, laptop and other business supplies.
How long does it take to become a notary signing agent in Oklahoma?
After you send it the application, it could take several weeks of processing time. Once again, the quickest way is to apply online. Then it would depend on how quick you can get the oath of office notarized and submitted.
So it could take a few weeks to become a notary signing agent in Oklahoma.
Can a felon be a notary loan signing agent in Oklahoma?
As I’m reading the Oklahoma Notary Public Guide, there is a requirement that one has not been convicted of a felony. In other states, it would consider the severity of the conviction, when did it happen, and is it unlikely that the applicant will re-commit such offense.
However, it does not specify such details in Oklahoma. So before you go through the registration, you may contact the Oklahoma Secretary of State’s office to discuss your specific case.
How to renew notary commission in Oklahoma?
To renew the notary commission in Oklahoma, you need to reapply every 4 years within 6 weeks before your current commission expires.
You can do so through the Secretary of State website. There is a $20 renewal fee.
To avoid an interrupted business period, begin the renewal process in advance. Don’t wait till your current notary commission is expired. Also, you would need to obtain a new notary stamp with a new expiry date.
Can I notarize for a family member in Oklahoma?
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 loan signing agent in Oklahoma, where could I obtain more details?
You may contact the Oklahoma Secretary of State, Notary Public services
- 421 N.W. 13th, Suite 210, Oklahoma City, OK 73103
- Form Requests:(405) 521-3912
- Questions:(405) 521-2516
- Email: notary@sos.ok.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)
- Oklahoma Secretary of State
- Oklahoma Notary Public Guide (source)
- Oklahoma State Courts Network (source)
- Salary.com – Notary Signing Agent Salary in Oklahoma (source)
- ZipRecruiter – Loan Signing Agent Salary in Oklahoma (source)
- Consumer Financial Protection Bureau – Home Mortgage Disclosure Act (HMDA) (source)
- SuretyBonds.com – Oklahoma Notary Public Bond (source)
