Posted by chucke/fl on 7/31/13 10:52am
Msg #478708

DEAD, DEAD, DEAD!!!!!

It has been 5 days and not one call. No deadbeat companies, nothing. I guess it's time to check the business plan.

Reply by Judy/TX on 7/31/13 11:21am
Msg #478718

I live in North Texas and for the first time in 5 years I only had 1 signing for month end. You are not alone.

Reply by ME/NJ on 7/31/13 11:43am
Msg #478724

By September a lot of SA will be gone

If it is your only source of income, I say look at want ads. By September you will be out of cash and the bills still keep coming.

PT will remain around longer and fee's will decrease more now that SS will do what they can to stay in business.

Reply by pat/WA on 7/31/13 11:45am
Msg #478725

Re: By September a lot of SA will be gone

WHY??

Reply by ME/NJ on 7/31/13 11:49am
Msg #478727

Re: By September a lot of SA will be gone

If you have to ask why, not very business savy. Look and learn.

Reply by pat/WA on 7/31/13 12:06pm
Msg #478730

Re: By September a lot of SA will be gone

An answer like that means you don't know and you are just speculating.

Reply by ME/NJ on 7/31/13 12:10pm
Msg #478732

Re: By September a lot of SA will be gone

Almost everything in our business is speculation, only vets can see what is ahead because we have been on this roller coaster for years. Do what you want, still doesnt put money in your pocket.

Reply by BobbiCT on 7/31/13 12:22pm
Msg #478736

Not speculation. Experience ...

Refinancing and housing market come and goes in waves.

Simple Answer:

1. Ask yourself how many NSAs are you competing with for the same volume of business in your market (your personal "living" net profit) area? Are their fees less than yours and, therefore, will undercut your net "living" profit for pocket change?

2. How many homeowners in your market area 1) haven't already refinanced for a lower rate in the past 6-12 months, 2) have the income to qualify to refinance for the loan amount they want, and 3) have the equity in their home to refinance without bring cash to the table to refinance?

3. Are many lenders flooding your local air waves with refinance offers? When mortgage originators flood the air waves for customers, it usually means they need business in their pipeline.

Reply by pat/WA on 7/31/13 12:33pm
Msg #478739

Experience

I am very lucky. I can ride it out. Not so for a lot of my competition.

Reply by Stephanie Santiago on 7/31/13 12:54pm
Msg #478740

I have been PT'mer for 14 years, it has worked out well...

Additionally, I have been extremely busy during the hours I have devoted to signings.

Reply by Luckydog on 7/31/13 1:26pm
Msg #478746

Re: I have been PT'mer for 14 years, it has worked out well...

When interests rates go up, refi's go down. When Foreclosure inventory is low, sales decrease, just common sense. No use speculating over the obvious, we are in a fluctuating business, and is just how it is. Keeping the Mortgage Insurance Premiums now for the full term of the FHA loans has not helped anything either. Once interest rates drops, credit score criteria eases up, work will increase again, be prepared for a rocky end of year.

Reply by NVLSlady/VA on 7/31/13 4:44pm
Msg #478789

I think of only ONE business that at some point isn't DEAD, DEAD, DEAD . . . the Undertaker's!!!

Numero Uno on the list: http://money.howstuffworks.com/10-recession-proof-businesses.htm#page=10