Posted by CF on 11/27/07 5:18pm
Msg #223194

Michigan Lender

I used to do a ton for a well known MI lender; last year at this time over 20 per month. When I first had my baby- they were keeping me in business and I really only worked for them and 1 other title company for a long time. Last month I had 10- not too bad. This month 1. 1st and 2nd quarter of 2007- things were still coming in from them- pretty good. During 3rd and now things have completely dropped off. I have not been hearing any Radio ads or TV ads- does anyone know what is going on with them? I just want to know if anyone in MI has lost a significant amount of business from them? TIA

Reply by Ilene C. Seidel on 11/27/07 7:41pm
Msg #223246

Who's the lender?

Reply by Julie/MI on 11/27/07 9:00pm
Msg #223257

Good old rock financial?

The appraisals are so far down in MI that even if you are in an arm, you cannot refi because of the LTV. I'm guessing you are referring to Rock. They just left Livonia and Kwame gave them huge tax breaks to move their headquarters to Detroit. This way Rock can ride the wave, practic,ally tax free and then the Gov and Kwame can pretend like they did something good for MI and their employees can now pay the city of detroit tax. You are right, they are not advertising.

I never worked for title source, their title company (again assuming you are talking rock financial nka quicken) because I was too busy with better paying companies.

It's very hard to put your eggs in one basket in this ever changing environment. It sure hurts the pocketbook when you bread and butter goes away. You could always call their call in program on sunday morning on 760 am--only kidding.

Reply by MichiganAl on 11/28/07 9:43am
Msg #223337

What's happened is this...

They've opened up all of their travel signings to their in-house notaries in all their offices. You're just not going to get much, if any, from them anymore. They were my bread and butter for years when I first started, and I have many friends there, but I only get one or two a month now. Time to find some other companies.

Reply by CF on 11/28/07 3:43pm
Msg #223398

Re: What's happened is this...

Thanks for the responses....that is what I thought too. I did a job that was supposed to be handled by an "in house" and something was botched with docs. I just wanted to make sure that it was not me.....I have a good realationship with the scheduling dept. However, our LTV situation here is real bad. I was told by a realtor that they were going to start pushing FHA's again.....so we will see. I am not hurting too bad.....I only "put my eggs" in that basket when my son was a newborn and I could only handle the easy jobs that they are/ were. I am still staying afloat- for now- 2008 is going to be interesting.