Posted by Jessc098 on 2/19/09 11:25am
Msg #278087
Stimulus bill
I'm watching CNN to learn a little more about the stimulus bill and how it affects forclosures. I don't know about you guys, but I'm doing loan mods 2 to 1 compared to loans.
The mortgage expert on CNN was talking about how this will allow many, many more people to refinance now.
I think this means we'll be getting a bunch more work. Yipee!!
Jessica
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Reply by NC_Notary on 2/19/09 12:03pm
Msg #278093
Are they still looking to get the rates lower to around 4%?
I thought I remember them discussing dropping the rate down to 4% but I haven't seen any more updates about that.
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Reply by Glenn Strickler on 2/19/09 12:13pm
Msg #278096
Re: Are they still looking to get the rates lower to around 4%?
4% 30yr fixed was an amendment that was added when the bill was in the senate. Once the bill passed the Senate and went to conference committee, it was dropped in the final version that passed and was signed into law.
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Reply by MistarellaFL on 2/19/09 12:16pm
Msg #278097
Did a purchase today w/ 3.85%
My eyeballs were popping outta my head, not to mention I drooled all over the docs.
This was with a 720-something FICO score. Woo-hoo!
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Reply by Shoshana Roller on 2/19/09 12:25pm
Msg #278099
Re: Did a purchase today w/ 3.85%
Was that with a buydown?
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Reply by MistarellaFL on 2/19/09 2:22pm
Msg #278105
No buydown on this one.
The buyer advised me they could have bought down one point, but they would have to pay closing costs.
Forgot to mention that this loan was a second home/vacation property.
THAT rate, as a second home loan really threw me for a loop....I have another one, same lender, same planned unit tomorrow. Can't wait to see their rate.
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Reply by CF on 2/19/09 3:47pm
Msg #278110
MistarellaFL- who was the lender? I need one of those deals
for my home. Thank you!!!
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Reply by MistarellaFL on 2/19/09 4:59pm
Msg #278117
Re: MistarellaFL- who was the lender? I need one of those deals
Centex Mtg, but it is my understanding they do not refinance, but lend only on purchases of their own properties.
Good luck everyone, that rate is certainly hard to beat.
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Reply by Jessc098 on 2/19/09 10:00pm
Msg #278141
Re: MistarellaFL- who was the lender? I need one of those deals
Me too!! That's an AMAZING rate!
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Reply by Sarah/CA on 2/19/09 1:44pm
Msg #278104
Wow! That is terrific. Best one I have seen is 4.25%. n/m
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Reply by Teddog/CO on 2/19/09 3:50pm
Msg #278111
Re: Wow! That is terrific. Best one I have seen is 4.25%.
I just did a re-fi last night 4.25% My heart did a little flutter. Getting busy had to turn down 2 signings they both wanted the same time (what's new) I think things will start to get veryyy busy soon.
You all have a great week 
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Reply by oldhippie_IL on 2/19/09 5:16pm
Msg #278119
Re: Wow! That is terrific. Best one I have seen is 4.25%.
That is great news! I am ready and willing to start running. It's about time. Yeah, we can start eating again!
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Reply by sue_pa on 2/19/09 6:15pm
Msg #278125
Re: Wow! That is terrific. Best one I have seen is 4.25%.
Anyone that used last fall's slow down as an "opportunity" and continued working (that's when you must market) is working now. I've got 26 scheduled this week and have turned down/lost 15.
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Reply by Amy/CA on 2/19/09 8:17pm
Msg #278137
Re: Wow! That is terrific. Best one I have seen is 4.25%.
Sue, (or anyone, please), I'm in Calif, haven't been a loan signer as long as you, but I'm really professional and work very hard at marketing. Would you say that one of the ways you built up to the client base you have now (26 scheduled in one week!) is by signing up with the companies listed here on Notary Rotary's Signing Central? For all the marketing I do, so far the calls I get are from companies who find ME on notary listings, not those I sign up with! Any suggestions would be so appreciated, now that the maret is changing...
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Reply by sue_pa on 2/20/09 7:53am
Msg #278171
Re: Wow! That is terrific. Best one I have seen is 4.25%.
I'm not telling how I run my business although I will say that when I read these boards I sometimes wonder if I'm in the same business as the majority of the posters. I do things VERY differently than many seem to do. I sat here in amazement the other week while reading the posts about something so simple as returning loan packages.
I signed up with a title company via their web site several times throughout the past few years. I followed up with phone calls. Nothing, ever. There is a guy in the county beside me who did their work ... he has complained on these boards how far they sent him for very little pay. They began calling me this month - found me on 123 - I've got no idea what happened with my signing up via their site nor my follow up. I am making $25+ more per order than this guy got for several years ... I certainly won't travel as far as he did for the fee ... no idea why he allowed them to run him into the ground and all over creation for his paltry fee ... I know why they did it ... because he allowed them to. The point is, I attempted to get "into" this company for at least 4 years and nothing happened ... they needed someone in my area and they found me on a paid site. So as for "signing up" with companies, I do it very seldom and I'd guess it doesn't work very often.
I've also been at this from the birth of the "siging agent" business so I've got many contacts and clients. I've worked for 17 companies so far in 2009 that are either brand new to me or ones who haven't used my services in excess of one year.
I haven't seen 20+ appointments a week for about 2 years although as many know, that was the minimum number we did, EVEY WEEK, for several years in a row. While the work is here, I'll again take all that comes my way.
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Reply by AngelTX on 2/19/09 10:37pm
Msg #278147
Re: Wow! That is terrific. Best one I have seen is 4.25%.
Congrats Sue!
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Reply by Joan Bergstrom on 2/20/09 1:14am
Msg #278154
I also think we are going to be very very busy! n/m
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Reply by Jessc098 on 2/19/09 10:05pm
Msg #278142
I've not done a lot of marketing and I'm fairly new, but I've gotten a lot of business lately. Turned down three signings today (any notaries in Toppenish WA?) I got three more and have a lot of work on the calendar even though I'm registered with very few signing services.
(I do notary work part time and I'm a freelance writer the rest of the time--but being a notary is what pays my bills--usually). :-)
I'm really looking forward to the new batch of business coming this way!
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Reply by Amy/CA on 2/20/09 6:08pm
Msg #278278
Thanks for your responses. I'm a writer, too, when not notarizing! Just don't want to sit on my but with the market changing. I am willing to market.
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