Posted by Margaret_FL on 8/30/05 6:23pm
Msg #62700

Loan Originator/Officer

Well, I just got hired as a Loan Originator for Americore Mortgage. I took the course, 14 hours required in Florida. I am waiting on the State to register me so I can do my first loan. We are required to attend all our closings. I can work from home and basically spending the same amount of time I do now. The documents will be overnighted to the notary. The title company is Lenders Title.

Reply by DellaCa on 8/30/05 6:28pm
Msg #62701

Congratulations Margaret !

Reply by BeccaWI on 8/30/05 6:48pm
Msg #62709

Was it difficult? Good luck to you!!!

Reply by Margaret_FL on 8/30/05 7:05pm
Msg #62717

Actually it was pretty easy. I did the course on-line, my company paid for the training. I got a 90 on the final exam. If you have been a signing agent for as long as I have, you should know this. I have my own website where people can apply for a loan. I will be originating loans for Indy Mac, Washington Mutual and Countrywide and a few more lenders. Americore Mortgage is a mortgage broker. They just got licensed in Florida 8 weeks ago. They were formally Northeast Mortage and were mostly in NH, MA, CT, and all New England states. I got a call from a former Notary Signing Agent from CT who is now a Regional Manager. He flew down from Ga to meet with people there and then drove down to Jacksonville to meet with a few of us from here. He got my information from Go Mobile Notary and we have had several chats on the board. The potential for income is unlimited. I will be working part-time at first and I will have to see how it works out. You have all seen the origination fees on the HUD. Notary signing is already stressful, so is Loan Origination, but the compensation is so good. Their origination fee is 3% of the loan and the potential earnings on a $200,000 loan is $3600. I can handle that!!!

Reply by Becca_FL on 8/30/05 6:50pm
Msg #62710

Margaret you rock!

Good for you! Let us know who it works out for you.

BTW - I bought an HP 1320 (for my car) last night and am waiting for delivery & instalation of my inverter. I LOVE my wireless broadband (used it yesterday for a signing) and want to thank you for sharring. You answered the questions I was affraid to ask at the "big box" store for fear of being called an idiot. I can't wait to be totally mobile!

Margaret, you ROCK!

For those of you who missed Margaret's post on being totally mobile, search "totally mobile" or "mobile" and get yourselves an education. Margaret is the Queen in this department.

Reply by TitleGalCA on 8/30/05 6:55pm
Msg #62713

Re: Margaret you rock!

Thanks for that, Becca and congrats to Margaret!

Reply by Margaret_FL on 8/30/05 7:19pm
Msg #62720

Re: Margaret you rock!

This is for TitleGalCA

I also have an Ebay store and I sell dog clothes, specializing in Small/Toy dogs

I have a ball dressing up my 5 girls.

Reply by Margaret_FL on 8/30/05 7:31pm
Msg #62725

Re: Margaret you rock!

What size inverter did you get?

Reply by Becca_FL on 8/30/05 7:57pm
Msg #62734

Re: Margaret you rock!

After much consideration and research, I have decided on a 1000 watt Pure Sine. Pure Sine (not modified sine) was the preferred choice of many experts, to run a laser printer. The experts I spoke with do not recomend running more than a 2500 watt inverter off a car battery. So, I decided on the 1000 watt pure sine. My printer runs 4.5 amps (4.5x120=540) and my computer will pull about 90-100 watts. I could only find pure sine in 300, 500 & 1000+. I like the fact that inverters w/ 1000 watts+ have a built-in fan and alarm.

My SO is a sailor and we have many cruising buddies that all gave me input, cruisers know way too much about inverters. Then, I consulted the web and my local Circuit City. My SO was ready to hook up my printer to his modified PS 750 and I said, I don't think so.

I'll let you know how it all works out.

Reply by Margaret_FL on 8/30/05 8:28pm
Msg #62739

Re: Margaret you rock!

My 3000 watt does not run off my car battery directly. I have a battery isolator and the inverter has its own battery. Let me know how it goes.

Reply by BrendaTX on 8/30/05 8:52pm
Msg #62743

Re: Margaret you rock!

When you use words like "isolator" and "inverter" I feel afraid.

LOL

My inverter is only a 500 watt. I love having it with me for the computer etc. but it won't run a laser printer. I had talked to Margaret about her set up and had all my knowledge ready to go. Then, I let a friend with a 400 inverter convince me that it was enough, so a 500 would do it right. Hogwash.

So, I decided to try the cheaper inverter which was just dumb. My little buddy was running a ink jet (and the inverters we have claim to run them, I don't know.)

He was planning on putting a laser in his car. He's young...probably won't believe the advice of two "old" mobile notaries even though I have told him...Yeah, until he's ready to write up a real estate contract and cannot print with the set up he will have.

Depending on my pursuit of the signings and inspection assignments, I do not know if I will invest any more into a mobile set up. If I just stick to my lap top and my inspections, I am probably good for now.

THANKS to Becca and Margaret for all this info.

Reply by Nd_WA on 8/30/05 9:31pm
Msg #62749

Inverter

A modified sine inverter can run pretty much any thing that is mechanical (can tolerate noise/frequency interference, etc), an inkjet for instance. You must have a pure sine inverter to run a laser printer as the fuser is heated and required constant power feed, it's more delicate.

A 1KW inverter with 2kW max has plenty of juice for the mobile office of our size. Unless you have an isolator like Margret, please operate your inverter with the car running for goodness shake. Otherwise you'll be buying a new battery every 3-6 months.

I might as well break the news now. I will be graduating with an associate degree in automotive technology at the beginning of next year. I will then continue with to undergraduate study for my BA.

Reply by Margaret_FL on 8/30/05 9:54pm
Msg #62757

Re: Inverter

What I have ended up doing, is I have a 400 watt inverter plugged into my cig lighter up front and it runs when my car is running and just runs my laptop, it turns off when I shut the car off. Then I only have to use the 3000 watt when I have to print. I was turning on the inverter every time I got into my car to charge my laptop and my laptop does not need 3000 watts. It is real easy to forget the invertor is on and run down the invertor battery. I let that happen too many times and had to replace the invertor battery after 6 months.

Reply by BeccaWI on 8/30/05 6:57pm
Msg #62715

I also meant to ask, do you plan on doing both or is that a conflict?

Reply by Margaret_FL on 8/30/05 7:10pm
Msg #62718

It is only a conflict if you do your own loan. We can't notarize our own loan but we can be a witness if needed. There will be a notary hired for all my loan closings through Lenders Title. As soon as I have the Title companies information, I will post it.

Gee, I would rather see my loan close and make thousands, then be the notary only making $125. The company feels that it is a plus for the borrower if we go to our closings.

Reply by BeccaWI on 8/30/05 7:40pm
Msg #62728

I agree! Good luck to you!

Reply by Iris_WA on 8/30/05 9:43pm
Msg #62752

Congratulations, Margaret!

I hope it works out happily for you ... will you also still be doing inspections? (It was you, wasn't it, who also did inspections?)

And the bucks sound good!

Reply by Margaret_FL on 8/30/05 9:47pm
Msg #62753

Re: Congratulations, Margaret!

Yes, I will still do my inspections. I am doing the Loan Origination part-time for now. I don't want to give up on them yet. I am even going to Washington, DC in December to get my HUD REAC Inspection certification. Those inspections pay $225 each.

Reply by Nd_WA on 8/30/05 9:53pm
Msg #62756

Re: Congratulations, Margaret!

Keep that "diversify" thought going Margaret, you will be at the top in no time.

Andy

Reply by CA_Violet on 8/31/05 9:23am
Msg #62826

Congratulations!!!

Sounds great!