After spending my entire career working in escrow offices and witnessing the inner workings of the industry, I made the pivotal decision to start my own company, Loan Signing Solutions. My journey was fueled by a desire to address the glaring flaws I observed in the signing agent industry, and to create a more equitable and efficient environment for both signing agents and the professionals they work with.
Having worked as an escrow officer for many years, I have a deep understanding of the intricate processes that drive the industry. Throughout my career, I built strong relationships with loan officers, processors, and underwriters, all of whom play vital roles in the success of every transaction. However, I also witnessed firsthand the frustrations that arise when things go awry.
One of the most pressing issues I encountered was the treatment of signing agents. Many of these professionals, who are essential to the closing process, are often undervalued and underpaid. I know many signing agents personally, and I’ve seen how they’re sometimes subjected to unrealistic expectations and low compensation for their work. This not only demoralizes these dedicated individuals but can also lead to inconsistent service and delays—issues that can ripple throughout the entire loan process.
In addition, I observed the stress and frustration that loan officers experience when loans do not close on time, especially at the end of the month when quotas and commissions are on the line. The pressure to meet deadlines is immense, and delays can impact not just a single transaction but also the livelihoods of everyone involved, including escrow officers like myself.
Recognizing these challenges, I knew I had to take action. I wanted to create a company that values every player in the transaction—especially the signing agents who often get overlooked. My goal was to establish a business model that not only provides fair compensation but also fosters respect and professionalism.
By starting Loan Signing Solutions, I aimed to build a company where signing agents are treated as valued partners, receiving adequate pay for their expertise and commitment. I wanted to eliminate the race to the bottom in terms of pricing, which too often leads to a compromise in quality and service. Instead, I wanted to promote a culture that emphasizes the importance of professionalism, reliability, and mutual respect.
In developing my company, I focused on several key principles:
Fair Compensation: Signing agents should be paid a minimum of $150 for their services, ensuring they are rewarded for their professionalism and commitment to quality.
Transparency: By separating our fees from those of the signing agents, we foster transparency in our business model, allowing all parties to understand the costs involved without hidden fees or surprises.
Quality Assurance: We prioritize hiring experienced, well-trained signing agents who are committed to their craft. By investing in their continuous education and development, we ensure that our clients receive the best possible service.
Collaboration: I believe in the power of teamwork. By fostering open communication and collaboration between signing agents, loan officers, and escrow officers, we can work together to solve problems and create a smoother transaction process.
My decision to start Loan Signing Solutions was not just about creating a successful business; it was about making a meaningful impact on an industry I care deeply about. I want to ensure that signing agents are not only respected but also empowered to do their jobs effectively. By addressing the frustrations of loan officers and other professionals, we can create a more efficient process that benefits everyone involved.
At the end of the day, every individual in this industry has a family to support and bills to pay. I understand that pressure all too well, having been in those shoes myself. My mission is to create an environment where everyone can thrive—where signing agents are valued, loan officers can close loans on time, and clients receive the best service possible.
Starting Loan Signing Solutions was a natural progression for me—a culmination of my experience, insights, and passion for improving the escrow and signing agent industry. I am committed to creating a company that reflects the values of respect, fairness, and professionalism. Together, we can transform this industry for the better, ensuring that everyone involved can succeed and provide for their families with pride.
By Hannah Chen