Posted by SLB SIGNING SERVICES, INC. - Sherry on 2/28/08 11:10am
Msg #237516

A big hello to everyone

I just wanted to drop in and say a big hello to all the regulars. Havent been on in awhile. Things seem to be cranking up again....This is the busiest EOM that I have seen in forever. We have doubled our workload on a consistant basis for the last four weeks. I still have faith that this industry is finally on the upswing of that downward spiral. With rate cuts and new fed programs this could be good news. I am just hoping that everyone (all of the seasoned professionals) are able to hang on through this bumpy time.

Reply by Charles_Ca on 2/28/08 12:00pm
Msg #237524

Re: A big hello to everyone ~ Hi Sherry

Nice to hear from you. I've been doing my part! Lately it seems like all of a sudden people came awake and realized that they are having to pay recast ARMs to the tune of 10% when there are loans out there for 5.5%. I placed one the other day as low a 4.9 with a buydown. Thigs are getting crazy. Glad to hear your phones are ringing again.

Reply by SLB SIGNING SERVICES, INC. - Sherry on 2/28/08 12:04pm
Msg #237526

Re: A big hello to everyone ~ Hi Sherry

Charles!!!!! Great to see that you are hanging in there...I miss talking with ya. The kids have been keeping me too busy to have much free time. In addition, when I do have free time, I am too busy marketing to do much else. LOL. Anyway, I said it a few months ago and I will say it again, for those of us who can hang on, we are going to reap the rewards!

Reply by Lee/AR on 2/28/08 12:12pm
Msg #237528

You both give me hope! Thanks! n/m

Reply by SLB SIGNING SERVICES, INC. - Sherry on 2/28/08 12:20pm
Msg #237529

FORGOT TO MENTION

Dont know if anyone else is seeing this but although business is much slower than it was a year ago, the loans seem to be much "cleaner" loans meaning that there are a fewer cancellations. Last year I may have had 120 on the books for the week but 30 of them ended up cancelling. Now I may only have 60-80 on the books this week but I only have one cancellations. The pipes are being cleaned out!!!

Reply by Yoli/CA on 2/28/08 12:24pm
Msg #237530

Fewer cancellations ... that certainly is good news. Thanks n/m

Reply by LisaWI on 2/28/08 12:25pm
Msg #237532

Re: FORGOT TO MENTION

Hi Sherry,
Yes, I have to agree with this assessment, that is what Im seeing also. In addition to the borrowers being well informed before I get to the table. What a nice change of pace! I hope it continues in this fashion for the most part.

Reply by ME/NJ on 2/28/08 12:32pm
Msg #237533

Re: FORGOT TO MENTION

Most of my loans for the last 4 months have A+ folks (great credit and lots of equity) it is so nice doing them in n out no issues.

The only issues I have now are FHA loans and lack of comunications between LO and BO. The other night I had loan from h*@& (sort of perfect storm..lol) late docs, figures were not what they were told (points were 3, told 1.5)the interest rate was off and after 1 hour of yelling between the LO and BO they signed. The signing started @ 10:30 and was done around 1am.

I wanted to shoot myself. I have not had this type of signing in 2 years.

Reply by Linda_H/FL on 2/28/08 1:15pm
Msg #237542

Sounds like mine from Tuesday...

late docs...numbers not what borrower was told...interest rate correct but borrower didn't like the TIL; in addition, it was a streamline loan - broker paying all costs (supposedly) - I suppose part of this is my fault for sitting it out but I got there between 7:00 and 7:30 and sat through over an hour of him arguing and negotiating with broker....finally got done at 10:45 - package was 104 pages with 28-30 notarizations and he was a reader!!! And no, I didn't get a premium fee...just my standard for my county (live and learn).

BUT...at least the phone is ringing..

Reply by Demore on 2/28/08 1:36pm
Msg #237548

Re: FORGOT TO MENTION

Well, please, do not think ---"wanted to shoot myself" -- In my view is perfect and expression that we sometimes use after hours sitting around a signing table and have it completed the next day... I have one alike happened to me. I would have to drive back home for more than one hour and a half. I promise to myself that I would never do this again with self.

I know what you are saying and understood your feelings. . . please, do not let this get to you. Okay? Better days are to come and you want experience this again.

Good luck!

Reply by JanetK_CA on 2/28/08 1:44pm
Msg #237550

Re: FORGOT TO MENTION

Hi Sherry,

I think you're right. I'm seeing mostly (but not all) people locking in 30 yr fixed -- and some 15 yr fixed. Most highly qualified, lowering interest rates. The downside is that it seems that title/escrow offices cleaned house so well that they are having trouble handling the volume now. This, however, is a problem I'd much rather have than for it to be slow!! I just hope this continues with rates an their way back up now...

Reply by Margaret_FL on 2/28/08 2:47pm
Msg #237555

Re: FORGOT TO MENTION

I have actually had more cancellations than I have ever had. I turn down more than I do due to the lowball offers. I am doing a lot of in-house title closings, in fact most of my closings are at the title company. I quess they had to lay off their in-house staff. I love these, the documents are printed there, I just show up and I get the same fee as if I printed the documents. And payment has been quick too. I had been signing up with companies but companies are asking for way too much. They do not need my car insurance, copy of my stamp, etc. All I have had to do for the title companies is send them a W-4.

Reply by Glenn Strickler on 2/28/08 3:54pm
Msg #237561

Back at you.

Sales in my area are also picking up some after coming to a virtual halt for a couple of months. It's gonna get better ......

Reply by aatatusko on 2/28/08 7:33pm
Msg #237580

Current pay for qualified mobile signing agents is between $75.00 and $100.00 per ,
from your website. Are you serious? Sorry but in the Wash, metro area, 125 is where is starts.

Reply by Linda Juenger on 2/28/08 9:20pm
Msg #237592

A weird thing happened today. Sherry posts on this site

and as I was reading it, I was thinking that I hadn't heard from SLB in several months. Tonight, I get called for a closing from SLB for next week. How weird is that. Maybe we all need to be physic. Just start thinking real hard about a company and they will call. lol

Reply by aatatusko on 2/29/08 6:50pm
Msg #237702

Re: A weird thing happened today. Sherry posts on this site

That's what Oprah says. Power of thought. I really believe it works...I wish it worked for my spelling.