Interview with Hannah Chen

April 2, 2024

 

Today, we had the pleasure of sitting down with Hannah Chen, the visionary founder of Loan Signing Solutions. With years of experience in the escrow and signing industry, Hannah has cultivated a deep understanding of the challenges and opportunities within this field. In our conversation, we explored her motivations for starting the company, her vision for the future, and the values that guide her and her dedicated team. Join us as we delve into the insights and inspirations that drive Hannah and shape the direction of our company.

Background and Inspiration

What inspired you to start your own signing company after your successful career as an escrow officer?
Throughout my extensive career in this industry, I’ve witnessed both the peaks and valleys of the market. During the mortgage boom, I was closing up to 100 escrow loans every month, which was exhilarating. However, I also experienced the downturn during the subprime crisis, where the workload plummeted to just a handful of loans each week. This volatility exposed me to the struggles of various professionals in the industry, from loan officers to signing agents. I observed successful mortgage brokers who had once thrived end up taking on regular jobs, such as driving cabs or waiting tables, just to make ends meet. Many signing agents, whom I knew personally, faced similar fates, folding their businesses when times got tough. It was particularly disheartening to see how signing companies often exploited these dedicated professionals, leaving many notaries in their wake. I’ve seen firsthand how the industry can be tough on those who aren’t equipped to handle its challenges. My experiences left me with a strong desire to create a company that prioritizes quality and professionalism, ensuring that our signing agents are not only competent but also respected.

Can you share a pivotal moment in your career that led you to this path?
One of the most defining moments for me occurred when I realized just how detrimental the lack of professionalism was in our industry. Throughout my career, I noticed that signing companies frequently dispatched random notaries—many of whom were unqualified and irresponsible—to handle sensitive signing appointments. This often resulted in critical mistakes, like missing signatures or incorrect documentation. There was a particularly frustrating instance where I sent six loan signing orders out on a Friday, hoping to have everything signed and returned by Monday. Unfortunately, the signing company assigned these orders to careless notaries, and none of the documents were signed over the weekend. One notary even tried to advise the borrower against taking the loan, while another failed to show up because of a personal commitment. The fallout from this kind of negligence not only caused delays but also threatened the trust we had built with our clients. That experience was a wake-up call for me, reinforcing my resolve to create a better system with my own company.

Vision and Goals

What is your vision for the signing company, and how do you hope it will change the industry?
My vision for the signing company is centered around quality over quantity. I firmly believe that we don’t need thousands of signing agents; instead, we need a small, elite group of vetted professionals who can consistently deliver exceptional service. The industry is flooded with unqualified individuals who tarnish its reputation, and I want to change that narrative. I envision a company where every signing agent is thoroughly vetted, well-trained, and dedicated to providing the highest level of service. By focusing on a smaller group of highly skilled professionals, we can ensure that every signing goes smoothly, without the headaches and mistakes that have plagued the industry. Ultimately, I want to set a new standard for professionalism that clients can trust, transforming the signing experience for everyone involved.

What are the core values that guide your company’s operations and culture?
Honesty is at the heart of our operations. We believe that if we cannot provide an approved notary in a specific area, we won’t search for a random, unvetted notary; instead, we simply won’t take the order. This commitment to transparency ensures that our clients always know what to expect from us. Additionally, we value accountability and teamwork. Each member of our team is responsible for upholding these values, and we foster an environment where everyone feels empowered to contribute to our mission. Our culture is one of mutual respect and support, where every team member is encouraged to share their ideas and collaborate on solutions.

Building the Team

How did you go about recruiting your team? What qualities were you looking for in your staff?
When I decided to start my own company, I was intentional about the people I wanted to bring on board. I knew David Miller was a perfect fit because of his exceptional skills with numbers and his understanding of the financial aspects of our business. His expertise has been invaluable in managing our finances effectively. Emily Anderson was another immediate choice for me; her communication skills are outstanding, and she has a knack for building relationships. I knew she would be instrumental in attracting new clients and fostering long-term partnerships.

Stephanie Davis, our scheduler, is a true gem. Her organizational skills and ability to manage multiple tasks make her invaluable to our operations. Sophie, whom we affectionately refer to as our “soldier,” has a strong work ethic and ensures that everything is running smoothly.

Jasmine’s story resonates with me deeply; I met her while she was working at a grocery store. Learning about her circumstances and how she was supporting her family inspired me to offer her a job. I knew she didn’t have the means for proper work attire or transportation, so I helped her get what she needed to succeed.

Finally, Jessica has been a reliable signing agent for us, consistently delivering error-free work. Her reputation as a top-notch professional preceded her, and I was thrilled to have her on board. In recruiting my team, I prioritized integrity, work ethic, and a genuine desire to make a difference in the industry.

Can you describe the process you used to ensure that your team shares your vision and values?
We maintain an open dialogue among team members, which is essential to our success. Regular meetings allow us to discuss our goals, challenges, and successes, fostering a sense of unity and purpose. I encourage everyone to voice their opinions and ideas, ensuring that we remain aligned in our mission. Additionally, we emphasize the importance of maintaining a family-oriented culture. While we all have personal lives and commitments outside of work, we strive to create an environment where everyone feels valued and connected. Our team truly cares about each other, and that camaraderie translates into our work.

What can you tell us about your staff and their unique contributions to the company?
Each member of my staff brings unique strengths that enhance our operations. For instance, David’s financial expertise keeps us on track and ensures we are making sound business decisions. Emily’s ability to connect with clients and understand their needs is instrumental in growing our client base. Stephanie’s organizational prowess ensures that our schedules run smoothly and efficiently. Sophie’s diligence guarantees that everything is in order, and Jasmine’s positive spirit uplifts the team atmosphere. Jessica’s attention to detail and commitment to quality control are unmatched, ensuring that our signings are executed flawlessly. Together, they create a well-rounded team that embodies our vision and values.

How do you foster collaboration and communication within your team?
I believe in fostering a collaborative environment by encouraging regular check-ins and team meetings. This allows everyone to share their progress, address any challenges, and celebrate successes together. I also promote an open-door policy, where team members can approach me anytime with ideas or concerns. Additionally, we engage in team-building activities to strengthen our relationships and build trust. By creating opportunities for informal interactions, we cultivate a sense of camaraderie that enhances our teamwork and communication.

How do you handle conflicts or challenges within your team?

Conflict is a natural part of any team environment, but how we address it is what sets us apart. I encourage open communication and create an atmosphere where team members feel safe voicing their concerns. When conflicts arise, I facilitate discussions to ensure everyone has a chance to express their viewpoints. Our goal is to find common ground and work toward a resolution collaboratively. By focusing on the underlying issues and promoting a culture of respect and understanding, we can turn challenges into opportunities for growth and improvement.

Challenges and Successes

What challenges did you face when starting your company, and how did you overcome them?
Attracting clients was one of the most significant challenges we faced initially. Many potential clients were hesitant to work with a new company, as they were accustomed to existing relationships with other signing services. We focused on building our reputation through exceptional service and a commitment to quality. We also implemented targeted marketing strategies to showcase our unique approach, emphasizing our dedication to using only vetted signing agents. Over time, we proved ourselves by delivering results, which helped us win over skeptics and establish a solid client base.

Can you share a success story from your early days that shaped the direction of the company?
One of the most impactful success stories occurred during a busy month-end when we were tasked with handling a significant number of signings for a client. Emily, determined to impress, promised that if we could complete 20 signings over the weekend without any mistakes, they would consider us their primary signing service. The team rallied together, and Jessica went above and beyond by driving over 100 miles to ensure a remote signing was completed on time. We achieved our goal, and that experience solidified our reputation with that client, who has since become one of our most loyal partners. It demonstrated the power of teamwork and commitment to excellence, and it shaped our company’s direction moving forward.

Can you share any memorable feedback you’ve received from clients about your service?

Absolutely! One of the most rewarding pieces of feedback I received was from a client who was initially hesitant to switch to our company. After experiencing our service firsthand, they expressed how impressed they were with the professionalism and reliability of our signing agents. They mentioned that our attention to detail and prompt communication made the entire process seamless, which alleviated their stress during a significant transaction. Hearing that we made a positive impact on their experience reinforced my belief in the mission of our company.

Industry Insights

As a successful escrow officer, what insights do you bring to your role as a leader in the signing industry?
After spending years in the industry, I’ve developed a comprehensive understanding of loan documents, including the nuances of each page, letter, and comma. This knowledge allows me to provide guidance to my team and maintain high standards of quality control. I often collaborate with Jessica to ensure that our processes are thorough and error-free. Additionally, my extensive experience enables me to identify potential issues before they arise, fostering a proactive approach to problem-solving within our organization.

What do you see as the biggest challenges facing the signing industry today?
The biggest challenge currently facing the signing industry is the pervasive lack of professionalism among many individuals entering the field. Too often, people view this profession as a quick way to make money, failing to recognize the dedication and hard work required for success. This mindset has led to numerous horror stories, such as unqualified notaries arriving at signings inappropriately dressed or failing to conduct themselves professionally. Such incidents not only harm the reputation of the industry but also create anxiety for clients and borrowers. Addressing these issues through education and a commitment to professionalism is essential for the future of our industry.

Future Plans

What are your plans for the future growth of the company?
For now, we’re not focused on exponential growth. My goal is to maintain a manageable and efficient operation. I envision that when the time comes for me to retire, I will have a capable successor from our team who shares my vision and values. I have a few promising prospects in mind, and I believe they could take the company in exciting new directions. I want to ensure that our core principles remain intact while also allowing for innovation and adaptation in an ever-changing market.

How do you envision the evolution of the signing process in the coming years?
I genuinely hope that the profession of signing agents will remain integral to the process, rather than being overshadowed by advancements in technology or artificial intelligence. Human interaction is vital, especially in transactions that involve significant financial decisions. While I appreciate technological advancements, I believe they should enhance, rather than replace, the human element of the signing process. Many people appreciate the reassurance that comes from working with a qualified professional who can answer questions and provide guidance throughout the process.

What role does technology play in your company, and how do you see it evolving in the future?

Technology is a cornerstone of our operations. It streamlines our processes, enhances communication, and improves the overall efficiency of our service. We utilize advanced software for scheduling, document management, and quality control, ensuring that every signing runs smoothly. I see technology evolving to include even more automation and data analytics, which will allow us to make informed decisions and anticipate client needs. However, I believe it’s crucial to maintain the human touch in our interactions, as personal relationships are essential in our industry.

Personal Reflections

What advice would you give to aspiring entrepreneurs in the real estate and signing industries?
My advice is simple: invest in yourself. Continuous learning is crucial. Read industry literature, attend workshops, and network with other professionals. The signing industry can be incredibly rewarding, but it requires dedication and professionalism. Treat your business seriously and approach it as a professional endeavor, not just a side hustle. Building relationships and establishing trust within the industry can lead to long-term success. The more effort you put into your business, the more you will reap the rewards.

How do you balance your professional commitments with your personal life?
Finding balance is essential for my well-being. Gardening is my passion; it allows me to connect with nature and unwind after busy days. Spending time with my family—with my daughters and grandchildren—is incredibly important to me. I try to create boundaries around my work hours to ensure that when I’m with my family, I’m fully present. My loved ones know that when I’m working, I’m focused, and they respect that time. However, when I’m off the clock, I relish every moment with them, knowing that balance is key to a fulfilling life.