Posted by ME/NJ on 11/3/11 12:39pm
Msg #402672

Local bank told me

They have taken 120 loan applications in the last week. We all know not all 120 will make to table but I think at least 20-30 will within the next 2 months and this is only from the one branch.

This bank has been keeping me busy since June, thank you.. I know SS business just sucks and would be a different story if not for all the bank work in my area.

Reply by Julie/MI on 11/3/11 2:42pm
Msg #402698

"I know SS business just sucks"

I don't frequent this board enough to keep track of opinions of certain people, but I must say you always stick out with your negativity toward signing services.

Speak for yourself because I am very very thankful for all of my companies including great signing companies that pay more than what some of the title companies are paying these days.

Business has almost been at pre 2007 levels and I have made my distance shorter due to gas prices and some of the lower fees that have just been part of the business.

I've closed 637 loans this year and most of them came from signing companies. While I have not closed my record 17 loans in a day, I could have the last two month ends that we had.

So I publicly THANK all of the signing companies that I have done business with and I've only been stiffed on 2 non payments since I went full time in 2001.

I cannot figure out where the scron comes from.

Reply by ME/NJ on 11/3/11 2:54pm
Msg #402708

If you knew my deals with TCs you would not like

SS's offers either, Oh how I love to wait 30-40 days vs 1 week maybe ten days for payment and knowing what I am doing a week in advance vs 5 hours.

Maybe if things turn, yes I would have a better outlook on most of them but I work hard as do most of the people here do and I'm here to make money.

Reply by CopperheadVA on 11/4/11 9:39pm
Msg #402839

Re: If you knew my deals with TCs you would not like

Closings I do through SS often seem to be chaotic and disorganized. Sure had one like that tonight, and it was from one of the better SS out there. I agree ME/NJ, my regular TC clients schedule a week out, pay quicker and I love that!

Reply by David/Tx on 11/3/11 3:04pm
Msg #402710

In business volume is not always the thermometer of success. Fair market value can be much more important to the longevity and growth.

Reply by Julie/MI on 11/3/11 3:21pm
Msg #402714

I agree it's all about $$ made per closing and I'm doing just fine or I would have got out of the business in 2007.

I had a closing yesterday at a brokers office and they said that the volume will really pick up as soon as washington works out whatever they are going to offer homeowners that are underwater that did not qualify for the harp program.

I think title companies will utilize signing companies more frequently if the volume increases. They cut a lot of their staff in 2007 and some smart cookie signing services WILL jump in and offer their services. Now if they don't undercut we'll all be happy.

We can mourn the losses of Trans at $175 a pop and USA Title at $150 a pop and there are still my secret stash of title companies that pay the good old rates, but as I said I have signing companies that pay within a month, some within weeks and are have on time docs and keep me in my within my profitable distance boundaries.