Posted by NCLisa on 7/4/08 8:08am
Msg #254137

Stop recruiting NSA's in our area!!

To the NSA that keeps going around and trying to recruit borrowers to become NSA's in the Triangle Area, please STOP! Our area may not be oversaturated, but we don't need any more NSA's! You told one woman that she'd make $125 per closing, and that she'd do at least 4 closings a day!! Someone with no experience is going to magically make $500 a day in a market like this? How do I know this, she is a friend of my business partner and called to find out how the market really is, wish she could have remembered your name.

You are also doing a disservice to these people by telling them there is a need, and that the refinance market is good. While you are still working, and I am still working, over 50% of the NSA's in our area, are not. They've had to get jobs! Several RE attorney's have left their strictly real estate practices and joined firms where they will have to do something other than RE Law. If you look at craigslist, there are many re paralegals in this area out of work the market is so bad!! The purchase market here is horrible, and small builders are going under. The ROD's offices are dead, as no one is ordering title searches! If the number of title abstracts is dropping again, you can bet the number of closings is going to drop even more!

If you want to recruit, do it in Burlington, Asheboro, Elizabeth City, or in counties such as Northampton, Bertie, Chowan and Gates, or Transylvania, Jackson, Macon. Those are where we need NSA's, but there still won't be enough business for them to live off of. If you really feel the need to recruit, wait until there is a market to support these people. Stop following the NNA's practices blindly!

Reply by Regal/NC on 7/4/08 11:52am
Msg #254148

Amen!!! Also please......

stay out of Cumberland, Hoke, Harnett, Scotland, Sampson, Moore & Robeson counties.


TIA!!!

Reply by MW/VA on 7/4/08 12:51pm
Msg #254154

What is that about? Is someone selling training courses? If so try to find out who they are & who they're doing signings for. They are clearly conducting personal business & soliciting the borrowers--a huge no! no! I would find a way to report them, that's for sure.

Reply by NCLisa on 7/4/08 3:29pm
Msg #254172

Not only is it a NO-NO, it is just plain old wrong to tell someone that the refi market is still booming, and they can make tons of money. I'm wondering if this person is charging a mentoring fee, and trying to find someone new to mentor. I always tell borrowers that want to get into this business to keep their day jobs, it is not the time!!

Reply by snoopdogMs on 7/4/08 4:59pm
Msg #254187

I would call it "fools' gold"

Take heart. They WILL come and they WILL go!

Reply by MW/VA on 7/4/08 6:38pm
Msg #254199

Yes, clearly they are "marketing". That isn't illegal (wrong & unethical, yes, but not illegal).
It is illegal, however, if they are recruiting at the signing table. It might even be enough to go to the SOS over & have their commission revoked. It will take some work, but if they are reported, they won't work for those companies again. Apparently, they are soliciting borrowers for their own purposes.

Reply by NCLisa on 7/4/08 7:10pm
Msg #254204

What the NSA is doing is WRONG, especially based on the current market conditions! It is not however, illegal in any way. This person has not broken any notary laws by discussing a business opportunity during or after performing her notarial duties.

What she is doing is far worse, blatantly lying about the amount of money a "newbie" can make in this business. Either this person has no moral compass, or is clueless as to the state of current mortgage industry (maybe is only doing this part time for fun money), or believes everything the NNA tells her!

Reply by Tony_FL on 7/4/08 5:04pm
Msg #254189

Don't know about your area but, Chicago area is advertised

... by one that is now offering NSA classes and charging them $99 for registration ($125 for late registration).

see story: http://www.marketwire.com/press-release/Roman-Endeavors-Inc-875121.html

It's a shame the way they are 'stealing' from people.

Reply by BrendaTx on 7/4/08 5:12pm
Msg #254190

Freedom of speech here: Dishonest. dishonest, dishonest

to recruit people to this business now.

Reply by Tony_FL on 7/4/08 5:17pm
Msg #254191

I really think of it as 'theft by deception' ...

I have to agree Brenda ... I don't see how they can do it and live with themselves.

Tony

Reply by MW/VA on 7/4/08 6:43pm
Msg #254201

Re: Freedom of speech here: Dishonest. dishonest, dishonest

There are crooks in every business. I saw on one of the boards that someone had set up a deal, charging something like $2500, for some bogus notary signing agent course. These are desperate times, and vulnerable people get caught up in this sort of thing. Unless someone is willing to bring charges or report it to the authorities it will continue.

Reply by A-1 Signing Agents, LLC on 7/5/08 12:11am
Msg #254218

Re: Freedom of speech here: Dishonest. dishonest, dishonest

Seems it would also create more competition in their own area.

Reply by BrendaTx on 7/5/08 11:31am
Msg #254235

Promoters of classes don't care.

The competition is of no concern of theirs. They are making money on their classes, not signing loans.

Reply by snoopdogMs on 7/5/08 6:39am
Msg #254221

I got to thinking about this

We all have borrowers (about 50%) that are interested in our jobs and want more information. Possibly this particular borrower kept questioning the notary until she went as far as fees, etc. I certainly don't recruit anyone in my territory and when the questions arise about this job, I throw a wet towel on the fire as quickly as they ask. Some persist but I focus their attention back on the docs. How can this business partner or Lisa assume that the notary is telling ALL her borrowers unless all these borrowers are feeding this info back to the business partner/Lisa? It sounds like an isolated event to me that might not necessarily mean the notary is recruiting. That just does not make sense to recruit in ones territory. This friend ( the borrower) closed a loan with this notary and if pressed could find out the name the notary that closed the package. To be recruiting in todays market makes absolutely no sense to me. I have a RE friend that just got her commission and thought I might help her. A neutral friend reminded her of the competitive nature of the business and that she was going to have to do her own homework and study just like I did (hundreds if hours of research in preparation). No silver platter here.

Reply by snoopdogMs on 7/5/08 7:01am
Msg #254222

Spelling ( hundreds OF hours) n/m

Reply by NCLisa on 7/5/08 11:04am
Msg #254232

I did not misunderstand, nor did the borrower!

This borrower was a friend of my business partner, and was not interested in becoming a NSA! She was pretty sure the market was horrible since she is watching the DEVELOPER she works for slowly go under and let people go. She called my business partner, because she knew that we did NSA work, and asked if what the NSA told her was true.

This is not an isolated event. This is the 3rd time I've heard about this NSA in the last month. I ignored it from 2 borrowers that I re-signed as I thought they may have misunderstood, but when W called my business partner, I realized that the other borrowers were correct. There is an NSA going around telling people how great the refi market is, and they should get into the business!

Reply by snoopdogMs on 7/5/08 12:21pm
Msg #254238

No issue here Lisa

Just sounded like it might be an isolated event. Quite a notary that recruits and then you have to go behind and re-sign.

Reply by NCLisa on 7/5/08 12:29pm
Msg #254239

Re: No issue here Lisa

I will actually say that the resigning was due to loan changes, and not mistakes that I'm aware of.

Reply by Lee/AR on 7/5/08 1:14pm
Msg #254240

Posting on any board is probably not productive...

This idiot who's recruiting his/her competition is... an idiot. Is there a way that you could use channels available to you to indirectly give her some constructive criticism and let her know that she will put herself/himself out of business? The notary who's recruiting his/her competion is as dense as the B's who ask us.

Reply by MW/VA on 7/5/08 7:19pm
Msg #254254

Re: Posting on any board is probably not productive...

I was a borrower who became a NSA. If that makes me "dense" so be it. I remember when I asked the NSA who was closing my loan about the business. She, of course, blew it off. I actually got involved through another source. It's been two years of very hard work, but this line of work is good for my particular situation. I now have my reputation established of doing top-quality work and my services are requested by some companies for that reason.
I don't know that the action of that NSA affected me one way or the other. If she had solicited me either at the signing or after, I would have been very concerned. Lisa should know that people who try to short-cut or scam their way in this business don't last long anyway. We live in a free-enterprise system--hooray!--which thrives on competition. It is the competition that keeps me on my toes & keeps me from becoming a slacker. I built a business on great service & top customer service. Regardless of the competition, I am doing well. I'll leave the $50 signings to someone else who is desperate enough to take them.

Reply by Lee/AR on 7/5/08 8:05pm
Msg #254256

Re: Posting on any board is probably not productive...

Ask people in CA how well a hot dog stand on every corner works out for everyone.
You wnet beyond a few questions & researched it yourself. That's the difference we're talking about.

Reply by NCLisa on 7/5/08 10:37pm
Msg #254268

Competition is great in a thriving market,

but this market is anything but thriving. I am still able to do this fulltime. Not everyone else in this business is that fortunate. I know there are several NSA's that don't have to work as their husbands/wives make big bucks, or they own a thriving business and this is mad money, but most of us do this to pay ALL of our bills! This person is telling people that we are in a thriving market, that they will make lots of good money, and that there is a real need for NSA's in our area.

1. I think we all agree that the current mortgage market bites.
2. We already have an abundance of NSA's in the area, ones that get paid well, and ones that take the lowball fees.
3. That anyone that tells someone the market is good, and they can make tons of money right now is morally bankrupt and hopefully karma and the threefold rule will catch up to them.

What bothers me the most, is not the competiton, it is bringing people into this business in this market. There is not a ton of money to be made at the moment, hopefully that day will come again, but it isn't now. We have counties in this state where only 2 or 3 mortgages are being recorded a day....yes, entire counties that are that slow.

Reply by MW/VA on 7/6/08 11:50am
Msg #254283

Re: Competition is great in a thriving market,

I still can't figure their angle. Everyone knows that the real estate & mortgage businesses are in the pits. People are getting out of these professions (by choice for some, not by choice for others). BOA announced the cut of 7500 related jobs recently. It has to be a con or a scam. I can't imagine anyone not being up on what is going on in this market. I'm in VA and we heard of a notary in NC who was claiming an unbelievable amount of signings/income.
The figures weren't even believable (something like 500/mo). It sounded like this person was running a company or team of notaries. I'm wondering if it is the same person?

Reply by Linda Juenger on 7/6/08 12:23pm
Msg #254285

500/month ?? Did you mean 5000/month???Please clairfy n/m

Reply by MW/VA on 7/6/08 12:26pm
Msg #254286

Re: Competition is great in a thriving market,

Sorry--didn't complete that thought. It was 500 signings/mo.

Reply by NCLisa on 7/7/08 9:51am
Msg #254314

I can't close 500 a month, can you?

That person must be an SS, as there is no way one person can do that many, unless they are all those LIA modifications.

That is 115 closings a week. My business partner (whose name is Lisa also) and I start farming out and asking Lynn and Laurie for help when we get about 45 a week.