Posted by PJM/MI on 11/5/06 6:23am
Msg #157356
Before you start in this business..
I see alot of posts on here from "newbies" wanting to jump on this bandwagon, which isn't a bad thing, but like any job or business, there's more to it than just hangin' out a shingle and hoping you get called. I've had many people ask me "can I do what you do" and alot of borrowers wanting me to "train" them. I've mentored several people, and sadly, only a few are still signing agents.
Here's a few questions you need to ask yourself before you plunk down $ to get started.
#1. What do you normally do in the evenings between 5- 9 pm? This is considered "primetime" and over 70% of your business is done during this time frame.
#2. If you have small children, will you have someone available during "primetime" to take care of them?
#3. How computer savvy are you? Can you download/print docs? Do you have a laser printer and if not, you need to get one. Docs don't print quickly with inkjets.
#4. What is your level of patience? Are you willing to sit beside someone as they (may) read through the loan package.
#5. Do you have the time to market yourself? (This means doing your own research and finding out where you want to post your information).
#6. What is your level of organizational skills? You will be running your own small business and that includes doing your own bookkeeping & filing. (You'll be head cook & bottle washer).
#7. What is your current financial situation like? You will not get paid on Friday for the closing you did on Monday.
#8. How well do you work under pressure? Documents do not always get to us in a timely manner.
#9. What are you people skills like? You will be dealing with all kinds of people.
#10. How "teachable" are you? You really need to learn what is in a loan package.. makes for "dry" reading", but you will have to tell the borrowers what is in a loan package.
#11. Do you have cell phone & reliable transportation? These 2 tools are very important.
If anyone else can add to this, please do so. This list is JMHO.
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Reply by Charles_Ca on 11/5/06 1:11pm
Msg #157398
Great post, a business plan doesn't hurt either! n/m
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Reply by Kevin Moroney on 11/5/06 3:20pm
Msg #157421
Where can a newbie find a listing of whats in a loan package?
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Reply by Linda_H/FL on 11/5/06 3:49pm
Msg #157422
Re: As posted by TonyV on 10/19/06
http://www.ppdocs.com/Samples.aspx
Hope this helps. If not, do a search on this site for "loan packages" - there are several threads there
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Reply by Kevin Moroney on 11/5/06 4:34pm
Msg #157429
Re: As posted by TonyV on 10/19/06
Very helpful, Thanks alot.
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Reply by Linda_H/FL on 11/5/06 4:38pm
Msg #157430
Re: Very welcome..:) n/m
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Reply by Pamela on 11/5/06 7:56pm
Msg #157456
Hello!
May I also suggest, that you send for the Signing Registry's
training guide. It has samples of mortgage documents
(plus much more) and teaches you how to use them.
Also, if you become a Registry member, you can request a mentor
for individualized training (Note: There is a fee for joining,
but the mentoring program is free!).
The Registry is a Great place to start for "newbies"!
Http://www.signingregistry.com/?pageid=3494
Pam
Pam
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Reply by dwortham/nc on 11/5/06 8:38pm
Msg #157467
Thanks, as a "newbie" this advice gives me extra reassurance that i am on the right track to suceeding in the business.
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