Posted by Jessie Calderon on 9/10/08 1:48pm
Msg #263804

What are you thoughts?

I am wondering what everyone thinks if we are ever going to get busy again? With this Fannie Mae & Freddie Mac situation, do you think that business will get back to normal? I see that the interest rate has dropped since but it is still a little too quiet!

Reply by MistarellaFL on 9/10/08 1:57pm
Msg #263805

Lots of speculation out there

Eventually we will get back to normal, but no one knows when.
Some are speculating 2009, some 2010.
It just isn't going to be real soon, that's all I am willing to guess.

Reply by jba/fl on 9/10/08 1:59pm
Msg #263806

I think (oh, oh, exercising my brain, feebly altho) that another inome stream is in order. Goes back to an old saying: Don't put all your eggs in one basket.

Reply by HARRY_PA on 9/10/08 2:10pm
Msg #263808

Who defines normal? The boom of a few years that was sustained by questionable loan practices or a nice part time job. Time will tell.

Harry

Reply by Jessie Calderon on 9/10/08 2:16pm
Msg #263809

Re: What are your thoughts?

Well....I do have a few ideas that can supplement income! Brain storming!

Reply by Hugh Nations Signing Agents of Austin on 9/10/08 4:07pm
Msg #263833

***Don't put all your eggs in one basket.***

Back before World War II, when the Nazis were using Spain and its civil war as a training ground for the coming conflagration, the Royalists were bombing the hell out of the Basque region, which had always had separatist tendencies. So, the Basques were all fleeing all the terror of the bombings; unfortunately, there was only one pass through the mountains, and they all tried to squeeze through there.

The Royalists just waited until all the stragglers were in the pass, then began bombing and cannonading everybody. Almost nobody survived.

Which proved, once again, that you should never put all your Basques in one exit.

Reply by John_NorCal on 9/10/08 2:57pm
Msg #263814

If you're thinking that things will get back to the level of a few short years ago, I don't think so. As Harry_Pa said below, that boon was borne from very questionable loan practices. I kid you not that I saw lenders who wanted nothing more than a signature with property location on an application. They were falling all over themselves to make loans at any cost, we can see where those practices have landed us. I think that eventually the market will heal itself and there will be loans available to people with sufficient assests, ability to pay and most of all the willingness to pay their bills. Hopefully the day of the free lunch is drawing to a close.

Reply by BrendaTx on 9/10/08 3:11pm
Msg #263815

No...it won't ever be like it was...read John's and Harry's

reply.

Reply by Jessie Calderon on 9/10/08 3:16pm
Msg #263818

Re: No...it won't ever be like it was...read John's and Harry's

Well...being a mobile notary has unlimited possiblities. I just have to stretch my horizons like everyone else!

Reply by Charles_Ca on 9/10/08 3:37pm
Msg #263822

Unlimited? It does? n/m

Reply by Jessie Calderon on 9/10/08 3:50pm
Msg #263829

Re: Unlimited? It does?

sure it does! There will always be purchases, HELOCs, refinances and investors. There will always be people in the nursing homes and home-bound people that can't get out. Believe it or not, there are nursing homes, and assisted living establishments that do not have a on-site notary. There are people that work crazy hours and can't get off of work or get off late after banking hours and need a document notarized. No we can't make the kind of income like before but I am being positive that you can make an income from being a mobile notary. Lets be positive! :0)

Reply by Charles_Ca on 9/10/08 5:25pm
Msg #263851

I'm sorry, I thought you said UNLIMITED. n/m

Reply by Jessie Calderon on 9/10/08 5:39pm
Msg #263854

Re: I'm sorry, I thought you said UNLIMITED.

are you picking on me or is this my imagination? :0)

Reply by CaliNotary on 9/10/08 6:01pm
Msg #263858

Re: Unlimited? It does?

"No we can't make the kind of income like before but I am being positive that you can make an income from being a mobile notary. Lets be positive!"

Thanks, but I'd rather be realistic than positive.

Reply by MW/VA on 9/10/08 4:24pm
Msg #263841

It has remained steady for me in VA. There has been a major shift in business and all loans are FHA. I don't know what your definition of "normal" is. Whatever was going on during the "bubble" probably won't occur again. After all, that's what all this backlash is about anyway.

Reply by Pat/IL on 9/10/08 5:55pm
Msg #263856

Expanding One's Horizons...hmmm

How about Fly By Night Discount Mobile Notary and Escort Service (FBNMNES)? Fits in nicely with the title industry these days.

The pendulum has swung too far to one extreme and has now swung too far to the other. I think there are too many people in the business - even once the market does settle to the pre-subprime levels. It will not return to those levels until everybody forgets about the perils and finds new ways to lend to people who have no business borrowing - maybe a couple of years.

When I purchased my first home, in 1991, I plunked down three %, got an FHA loan for the rest, and paid PMI until I had 20% equity in the property. That didn't take very long. It looks like the money industry is headed back in that direction. I was in the title business then, too, and there was enough work to keep the serious vendors in business. And so it will be again, and the rest will make their mark in a different business.

Reply by Barbara Taylor on 9/11/08 6:06am
Msg #263900

I was called yesterday to do a closing and had a discussion with the company to which I have worked for all year and asked that very questions. She stated that work was to a halt, because of Fannie and Jennie and that there is a backlog of work that is being processed now sinc the bail out. Just hang in there (musical chairs).

Reply by Jessie Calderon on 9/11/08 12:12pm
Msg #263949

Thanks Barbara for your input. At least someone has something positive to say!