Posted by Joe/NC on 7/18/13 9:21am
Msg #477269

Is it this slow everywhere

This month has been the slowest on record for me here in NC.
Granted I was on vacation the first 2 weeks and returned Saturday BUT the phone has not rung once. I did get a handleful of calls while on vacation but of course I couldn't do them.

This week is so quiet it makes me nervous. I may need to think about full time work somewhere.

Is it the rates rising? or is this just my area of the country?

Joe/NC

Reply by MW/VA on 7/18/13 9:25am
Msg #477272

It appears that the rising rates have caused a major

slowdown. I'm still getting a good no. of NFCU loans at great rates, but otherwise I think we
can expect a slow remainder of the year. There are still a lot of people who will continue to refi under the HarpII program, though.

Reply by ME/NJ on 7/18/13 9:50am
Msg #477277

Yes it has slowed down and I expect their to be a lot less people doing this within the next 30-60 days. I had a good week, but see the slow down coming, next week only 4 booked by now I have 10 or more set. I just check a couple of companies that I can see what is scheduled in NJ and on one or two set for next couple of days.

This will force most newbies or people with only source of income to look for another job quickly if you have not done so. Apps have fallen off and even the current rate drop 4.16 for 30 yr. it will take a couple months to ramp back up.

Like I said August will be the tell tale for me.. Getting a mix of last minute lock rates at lower rate and seeing higher rates coming to table.

Reply by Malbrough_LA on 7/18/13 10:04am
Msg #477281

This is not necessarily a "bad" thing IMHO

"This will force most newbies or people with only source of income to look for another job quickly if you have not done so."

If you're committed, and have yet to do so...which would be contrary to that term....market, advertise, etc. Consider it a 'culling' of sorts which would make Plato proud. (And I very often find myself in disagreement with Plato's philosophy...if it can truly be called that).

Reply by ME/NJ on 7/18/13 10:20am
Msg #477285

Re: This is not necessarily a "bad" thing IMHO

Market all you want, when there is no work for anyone one will it pay your monthly bills. Hope can only go so far.

Reply by Malbrough_LA on 7/18/13 10:28am
Msg #477287

Thankfully it's not hope. It's experience.

I don't function down here the same way. Most of my work comes from attorney friends and judges. The signing industry makes up a very small percentage of my actual income. The majority comes from GNW and civil document drafting (testaments, contracts, petitions, mortgages, etc). While I understand this is not an option for you, it is for me. My marketing has worked out wonderfully and been a rather lucrative return on investment. Either way, the song remains the same: accept things as they are or carve a fissure in whatever impedes you so that it will eventually erode into a culvert. The former, as a business owner, is not an acceptable solution for me.

Reply by Stephanie Santiago on 7/18/13 11:01am
Msg #477292

Well put, Ryan.....works for me... n/m

Reply by 101livescan on 7/18/13 11:05am
Msg #477296

LIKE! n/m

Reply by Michele Carr on 7/18/13 11:26am
Msg #477302

My signings came to a complete stop in Tampa.

Reply by MW/VA on 7/18/13 11:29am
Msg #477306

Every market has fluctuations, and we've had a really

good run with historically low interest rates. I've had a great year so far, and expected a slow-down when interest rates started to rise.

Reply by Kate/PA on 7/18/13 1:12pm
Msg #477322

Re: Every market has fluctuations, and we've had a really

Been very slow for me this month as well. I had only two signings do far.

Reply by HSH/WA on 7/18/13 1:57pm
Msg #477329

Re: I've been through this before on the lending side,

and this is more than a fluctuation. My business is down to 1/3 of what it was (and falling). Worse than that the few calls I am getting are not offering an acceptable fee for the closing: ie $50 for an application, $100 for a 3 hour round trip (plus signing time). Fees from TCs on down to us are under pressure and volume is way off. Evaluation time.

Reply by Karla/OR on 7/18/13 1:54pm
Msg #477327

Yes, Joe, July has been a VERy slow month for me here in Eugene, Oregon. I DO get calls on a weekly basis, but for for low ball offers ($75 **or lower**). I can not justify these low fees because of high gas prices and other business expenses.

There are obviously notaries in the area that ARE taking these low ball offers. Perhaps they do not have other income as I do and need to take what comes.

Reply by CJ on 7/18/13 8:52pm
Msg #477371

I'm usually pretty busy, with 1-3 jobs a day. But last week, it was 0 for quite a few days. It felt like the first of the month. I was wondering if everyone hated me all at the same time. Thanks for letting me know that it's not just me.

Reply by MichelleNC on 7/18/13 10:35pm
Msg #477375

Joe,

ON VACATION: you should have referred your calls to someone you knew in the area required; then, they would refer to you!!
I am closer to Tryon, Hendersonville, Rutherfordton, Shelby,Asheville: keep me in mind.

More business: find on Google- www.nccob.org = NC Comissioner of Banks-- find the list of lenders that are licensed to do reverse mortgages in NC. CONTACT EACH and ask for VENDOR SERVICES. Find a human being who actually hires a notary (notary signing agent): If you are not an NNA notary signing agent with E&O insurance, your out !

DANA

Reply by Susan/CA on 7/19/13 4:30pm
Msg #477465

Went from 55-70 a month (since February of 2012) to 30 last month (June) & so far 12 this month...it's just awful! I knew it wouldn't last that is why I worked my tail off the past year, however, I never thought things would get this bad this fast! I'm hoping once the shock wears off (of the higher interest rates) something will turn around....