Posted by twil4_WI on 3/16/10 9:19pm
Msg #327640

Business came to screeching halt here last week

2 weeks ago, I was telling someone how happy I was that this year was just bursting with work compared to last year. Well, I should have knocked on wood, because it came to a screeching halt last week, 1 last week instead of 10 and so far a BIG ZERO for this week. Oh there was a call from a annuity purchase company for a one sheet notarization paying the guy $20K for his entire $220,000 settlement which I passed on, but really, is it just here in Northeast Wi, or is something horrific going on again? I also, for the first time, have 5 overdue invoices from 3 big companies from last month, which is unheard of in my journal, so now I am really wondering what the heck..

Reply by cawest/PA on 3/16/10 9:37pm
Msg #327642

Here it was quite for the first part of the month but picking up somewhat but not really booming as it use to boom. Had one this morning and the one for tonight was cancelled and rescheduled for uesday next week.
I think we all need to just stay put till it rebounds ... and in the main time keep going on with other notarial work.
I did put magnets on my car with my mobile services add on it ... you never know !

Reply by Regina Jowers on 3/16/10 10:18pm
Msg #327649

My business came to a halt last month and this month is no better, the few calls want me to do the closing for nothing, and drive a long way. Wonder what is going on.

Reply by cawest/PA on 3/16/10 11:21pm
Msg #327656

Re: what might have an impact on this slow down

is perhaps that no matter the interest rates have lowered to a certain extend (I have done nothing but refinancing lately) is that the rules to qualify have gotten a bit harder ...

on the other hand I am being told by about 80% of the borrowers where I go to that it took them between 3 to 5 months to close *on this deal* ... especially the JP Morgan Chase ones

Here is an article I found while trying to find answers, it gives you a little clue on why less mortages are written lately but not as much as I would like to see

http://www.mortgageloan.com/new-mortgage-rules-2261

Reply by Lynne/OR on 3/17/10 12:40am
Msg #327664

Re: what might have an impact on this slow down

Same here! Last week was the awful, my phone was silent all week, I actually called Verizon to make sure everything was working!

I spoke with a mortgage broker today and he said he thinks my slow down could be due largely to the new regulations, and the general difficulty of getting a loan done these days..

Hope it picks up soon!

Reply by Susan Fischer on 3/17/10 12:43am
Msg #327665

"What the heck." I'll bite: A rescession? Diversify and

market smartly. Pay attention. Stay sharp and flexible; plan your work and work your plan.

Whining doesn't solve anything.

Reply by cawest/PA on 3/17/10 1:00am
Msg #327669

Re: "What the heck." I'll bite: A rescession? Diversify and

Well you are correct on the marketing aspect, I started whule back and actually have gotten quite a bit of work outside the signing area however for some that live in more *rural* areas it might not be that easy.
I am blessed having 2 major hospitals nearby and 3 a bit further and by contacting the Nurses Associations I have gotten work coming in.
Also had car magnet made and they are on the side of each car.

I am sure it will pick up soon.

Reply by Bravo on 3/17/10 3:10pm
Msg #327745

My business has been almost non-existent in the last two months. I'm glad you mentioned this because I've been wondering what might be going on. Could just be the normal cycling I seem to experience throughout the year.