Posted by 101livescan on 4/13/13 9:23pm
Msg #465593

The New "VOLUME" Jargon

I thought that might be something we could all benefit from, until I quickly realized a few months ago, the only people gaining from "volume" are the people taking the huge stacks of orders for a lower fee, then expecting the NSA to work for less because the SSs are.

Same packages, same number of pages, same number of notarizations, in and out of the trust, trust certificates, brokered loans have redundant disclosures and affidavits, tax returns, TILs, Itemizations of Amt Financed, sometimes two deeds of trust, two notes, two sets of riders, had one on Friday more than 200 pages. I got paid well, not one of those volume discounted packages, thank God.

So this is what the new frontier is like, VOLUME, having nothing to do with the volume of your hair do. the Volume of your fee, which is shrinking. Go figure. I guess they think our brains are shrinking too. We haven't figured out that VOLUME means we work more for less.

Didn't VOLUME used to mean you made more money, not less?

Well, uh, I just know that if you have a party and 50 more guests are invited, you have to bump up the main entre by 50 people, there is no discount for that increased VOLUME. So guys, we gotta get wise to the new jargon VOLUME. VOLUME is not a user friendly term in our biz. We have to turn up our antenna to understand we can't take the VOLUME the way they do. There is no percentage in it for NSAs.

Reply by sigtogo/OR on 4/13/13 9:35pm
Msg #465594

"VOLUME" always meant discount in my experience n/m

Reply by pdl/cali on 4/13/13 10:07pm
Msg #465596

Re: "VOLUME" always meant discount in my experience

I believe that there is allot of mistakes when you have "volume" due to the fact that your rushing to get to the next job, and rushing the borrower, which in return, you may mix up shipping labels, over look a signature or an initial that may be missing. Its bad business.
I recently had a conversation with a BofA lender, inside the branch, she shared with me her experience with the NSA that was there before me, he rushed her, rushed the borrowers because he stated he needed to get to his next signing. Well, The LO called the SS, and got him fired. So if you are taking on a high volume of signings, give the borrower the attention, and time, check your work before you ship. Dont run around like a chicken without its head.
Not worth it for $$.$$.

Reply by MikeC/TX on 4/14/13 7:35pm
Msg #465671

As has been discussed here many times...

An NSA cannot EVER see a profit from "volume" if the rates offered are lower than what the NSA needs to turn a profit on a single job.

Most of the costs in this business are fixed (with the exception of mileage) so accepting a lower fee in return for "volume" is just going to help you go broke faster. Those who buy into this dream might fool themselves because of the amount of money coming in, but they're not looking at the amount of time and money being expended.

If you need to get $90 on every job to turn a profit, how is "volume" going to help you if they only pay $50? On your second job at that rate, you're already $80 in the hole. If they come through with the promise of "volume" (highly unlikely) and give you 50 jobs a month at that rate, it will cost you about $2000 out of your pocket.

The companies that offer this dream are not stupid - they know EXACTLY what they need to pay out in order to make a profit, and that's what they'll offer, hoping that the NSA can't do basic math. "Volume" works for them, because they rarely go below their profit point - it doesn't work for us if we agree to take a lower fee.