Refinances are slowing down . . . as compared to when the peak of the re-fi boom was happening. If it weren't for HELOC's (which has kept me crazy busy) I would be starving! I have seen refi's pick up in February but by no means could one (in my area) make a living off of this job.
Yes (IMHO), an onslaught of signing agents into the field along with declining refinance applications is making this field one of hobby and not one for full financial support and independence. I have read other notaries statements that they have weathered other storms and this is just another slow time that too will pass, however I must respectfully disagree. Never before has the NNA and others marketed this business to this extent. That massive marketing venture has saturated and continues to saturate this business while at the same time refinances have slowed and we are looking at (more than likely in my opinion) eventual increases in interest rates. And the NNA is NOT slowing down it's marketing campaign while at the same time others jump on the bandwagon to make a buck off the gullible.
I am shocked at the increase alone on these types of board lists. About 2 years ago there were a few notaries in each listed now these same areas are inundated with notaries. Here, gomobilenotary and other listing sites have increased by unbelievable amounts. How can one think (after looking at the notaries listed in their respective areas) that they have a chance to make a living in this field? It is getting worse and worse and in my opinion this field is in jeopardy for those who want, plan or have been making a living at it. JMHO. |
