Posted by Anita Posluszny on 8/3/11 10:36am
Msg #392465

Just Wondering

My business seems to have slowed down over the past few months. Just wondering if anyone else is experiencing this. Does it have anything to do with the big economic crisis we just went through????????? They do say that the interest rates are going to stay low.

Reply by CJ on 8/3/11 10:54am
Msg #392468

It's been very slow for me too.

I used to do 90 a month. Now I am grateful for one every other day.

Reply by NJDiva on 8/3/11 12:19pm
Msg #392484

90 a month? What are you?

An SS? lol How do you do 5 a day for 6 days a week?

Reply by John/CT on 8/3/11 12:25pm
Msg #392487

Re: 90 a month? Sure ...

back in the good old "glory days", 2001 - 2003, when interest rates seemed to be dropping by the hour! Wasn't unusual for me to return to the same borrower in less than a year with a new loan package.

Reply by NJDiva on 8/3/11 12:26pm
Msg #392488

OOOOOH! I thought you meant RECENTLY...LOL n/m

Reply by ME/NJ on 8/3/11 5:26pm
Msg #392537

Amen good ole days

Even had my wife out doing loans, 1000 dollars a day avg.

Reply by NotaryMot/CA on 8/3/11 9:21pm
Msg #392578

Re: It's been very slow for me too.

Wow, you guys racked in the money back then! That's good money. They paid more per signing back then too.

Reply by ME/NJ on 8/3/11 10:05pm
Msg #392583

Back in the day 175-200 for refi was norm

There were only a handfull of SS most work came from TC's and a lot less notaries.

Reply by Flo Robinson, Inc. - Mortgage Signings on 8/3/11 11:26am
Msg #392473

Business has definitely slowed down but, I've found that business goes in cycles.

Reply by Stamper_WI on 8/3/11 11:50am
Msg #392479

I've been doing a lot of BOA loan closings plus the last of the Wells Fargo reverse mortgages.

Reply by Anita Posluszny on 8/3/11 11:52am
Msg #392481

Doesn't BOA require alot of fax backs?

Reply by John/CT on 8/3/11 12:27pm
Msg #392489

Re: BofA Fax Bax ...

Not the ones I've been doing. Probaby a TC / SS requirement.

Reply by Anita Posluszny on 8/3/11 12:33pm
Msg #392491

Re: BofA Fax Bax ...

I used to do them for Service Link here in TX. They required like 40 pages of faxbacks. I have stopped doing them for that reason, because they wouldn't pay me extra. Then all the time it takes. You have to come home, do the faxbacks and wait for their approval to send the pkg. Very difficult if you have another appointment right after. Not worth it, when you can get the same pay for no faxbacks. Now when they call I ask what bank.

Reply by Linda_H/FL on 8/3/11 3:59pm
Msg #392518

That's what he's telling you - it's not BofA requirement

it's title or SS requirement -

So your faxing them back is SL's requirement, not BofA.

I've closing BofA loans in the past - no faxbacks...

Reply by Anita Posluszny on 8/3/11 4:42pm
Msg #392529

Re: That's what he's telling you - it's not BofA requirement

Hmmm. That is interesting. The other banks I do for SL do not require fax backs.

Reply by Linda_H/FL on 8/3/11 4:53pm
Msg #392530

I thought SL required faxbacks on all their deals...

Not sure - don't work for them - but that was my belief from what I've read.

Reply by Moneyman/TX on 8/3/11 5:22pm
Msg #392533

Re: I thought SL required faxbacks on all their deals...

They didn't on the last one I did for them. Of course that was after I told them that I charged for fax backs.

I know some SS companies say they don't pay for fax backs, I don't really care what they put down as the reason for the charge, but I charge regardless. They can call it internally a "the sky is blue today" charge for all I care.

Reply by ME/NJ on 8/3/11 5:24pm
Msg #392535

When it was CW - faxback and split package drop fee

That did it for me, they were paying 125. Fee reduced to 85.. I said take me out of system 2006

Reply by Moneyman/TX on 8/3/11 5:34pm
Msg #392538

Re: When it was CW - faxback and split package drop fee

Since I know I am one of the 'last resort" NSAs (due to my fees) they call in my area, they usually accept my fees for the once in a blue moon jobs they call me for. That's one of the reasons I do not discount a dime for them.

Reply by topflyt on 8/3/11 11:42pm
Msg #392591

The only problem with BofA is the amount of paperwork.

Reply by Virginia/PA on 8/3/11 1:46pm
Msg #392495

Can't say my business has been great but it hasn't been extremely slow either - for which I am ever so grateful.

My personal opinion (and I certainly hope I am correct for all of our sakes) is that now that the government will not be pumping money into the private sector, and in order to get our economy to start rolling again, money has to be pumped into the system from somewhere.

The one place I see is in keeping mortgage rates low so that more and more people will eventually refinance and have more $$$'s in their pocket as disposable income. Then they start buying things that will put others back to work. Hope I'm not just pipe dreaming. I think it sounds logical. Money to prime our economy has to come from somewhere - that's why all the bailouts in the first place. Now the private sector (I guess that would be the FED) will need to ponder its position in keeping the economy floating and growing.

Better for us in the long run - hopefully. Where else can money come from to fuel the economy?

Just my 2 cents.

Reply by WINotary on 8/3/11 6:16pm
Msg #392542

Very, very slow for me lately.

Reply by Ireneky on 8/3/11 8:42pm
Msg #392572

Work is steady for a change.

And Oh My they are not fighting me to lower my rates.
A couple of weeks ago I felt like I was back in Naples, FL making real money for a change..
Both purchases and refi's.
Now back to the same 4 or 5 a week.
I'm just grateful to be stll working at a job I really do love.
It has to be the gypsy in me.