Posted by Ndwa on 7/27/07 7:48am
Msg #202175

EOM - The never ending conspiracy

From late docs to late calls and last minute cancellations, why? I think I have the answer, but want to wake up with something to read in a bit later.

Reply by MistarellaFL on 7/27/07 10:14am
Msg #202201

I am looking forward to your opinion....I am feeling the conspiracy.

Reply by jba/fl on 7/27/07 10:17am
Msg #202202

Dow dropping cost a lot to many

Other reasons, but I await your opinion also.
SO WAKE UP! Do tell.
misplaced Seattle-ite

Reply by CJ on 7/27/07 10:52am
Msg #202221

Finally, a busy day.

I'm glad at least the last day perked up. I started the day with one job scheduled. I picked up four more email jobs. One fell through because they could not get the docs to me before I had to leave. And I must have turned down 5 more email jobs. Why couldn't they close some of these on Wednesday when I was more free? Now it's back to slow.

Reply by Becca_FL on 7/27/07 11:18am
Msg #202232

Why? $$$$$$$$$$

Brokers and LOs want their commission.

FHA and VA loans accrue interest monthly as opposed to daily. When a borrower with an FHA or VA loan refis, they will pay an entire months interest no matter when the loans is paid off. Back in the old days, refis would typically close by the end of the month to save borrowers from paying an additional month of interest.

Reply by JanetK_CA on 7/27/07 8:11pm
Msg #202373

Re: Why? $$$$$$$$$$

That's probably a reasonable excuse for some - but I doubt that will account for most CA properties, as there aren't very many left in metropolitan areas that don't exceed FHA limits. (And I don't see very many VA loans.) I think it's probably just the classic situation of LOs who haven't produced what they would have liked for the month, then try to push through what they've got last minute, bombarding the processors and others who have to prepare them... and it all snowballs from there. Probably just a good dose of human nature. [How many of us got through school by cramming for the tests the night before?? ;>]