Posted by Michael/FL on 10/1/07 1:33pm
Msg #214058
So how are things this October 1st?
Boy things are slow, had a call a week ago but a pretty far distance to drive. At my job I haven't even had a good amount of walk-ins to notarize even a document or two. I've been keeping my eye on the interest rate issues and I'm hoping the mortgage world will pick up again soon, especially for refinances. I've noticed a battle involving both the retail and wholesale sides of the lending spectrum.
How is everybody else doing so far?
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Reply by ME/NJ on 10/1/07 1:54pm
Msg #214060
As of Friday I had nothing on the books this week, Saturday - ring ring and 2 for tonight and 1 for tomorrow and a baby due any minute now. Tough to turn down work during this slow time. I thought with my luck it would of been Friday since I had 5 closings.
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Reply by Larry/Ca on 10/1/07 2:03pm
Msg #214068
Last two months have been the worst......
I have seen since starting in this business. I keep looking for signs that we are at or near the bottom for signings. I don't think that signings will ever return to the levels of 2005-2006 but hoping the bottom is here or near. The hugh number of resets coming now through 2008 was seen as a positive factor for our business but now it seems that many, many of those folks will no longer qualify for refinances. Anyone have any optimistic news to share.
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Reply by pan/nd on 10/1/07 2:36pm
Msg #214079
Given the current sad state of mortgage affairs,
if a SS calls me...unless I know they are 100% good for the fee the answer is "no."
And, just because they were good 4 months ago doesn't mean they're good now.
I turned one down cold just this morning because I wasn't sure of their status. They were OK on the notary boards but nothing current. I'm not taking any chances.
Since most of my business comes from title companies, I can afford to be picky...and I am.
But that' no guarantee either...given what happened to Express Financial the other week.
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Reply by Ndwa on 10/1/07 2:55pm
Msg #214083
One of my awaited client just came out of the slump with a positive word that the volume looks good for this month. As far as the market goes, with limited liquidity it seems lenders are trying to rebuild their portfolio by rewriting their sub-prime inventories. Many Brokers have shifted gear toward commercial loans (investors buying foreclosures).
There is still works out there, it's a matter of how one go about getting them. I can certainly say that traditional sign up is no longer effective in getting work with any companies.
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Reply by Todd/OH on 10/1/07 3:07pm
Msg #214089
I remember hearing about the rain of closings for August. The first half was sorta average and things died for the 2nd half. With new regulation and underwriting guidelines, I don't anticipate much improvement soon.
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Reply by Michael Edmonds on 10/1/07 3:13pm
Msg #214091
loans I am doing now are great credit, FHA or lots of equity n/m
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Reply by CJ on 10/1/07 9:29pm
Msg #214176
My schedule:
I had one today, one tomorrow, and one Wednesday. Nothing else. I usually start the month with two each day. I know that I am lucky to have this many.
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