Posted by ME/NJ on 10/10/13 2:53pm
Msg #487646

Plan B starting now

With the shut down and who knows if things will change with my biggest client I don't have the luxury of waiting months for things to turn around. I am good with cash till mid November after 2008-2009 not again.

Have 3 interviews next week, get the ball rolling and if lucky do this PT till things pick back up. I just don't get it unless you have other income from other sources how can you get by this slow period? I need to close 30-40 loans a month to keep the doors open full time. right now I have done 15 loans and don't see it hitting 30 with the shut down of the Fed. Add the back up will be another month or so for processing.

Reply by Ilene C. Seidel on 10/10/13 3:07pm
Msg #487650

Good luck with the interviews. This buz has always been a yoyo

Reply by ME/NJ on 10/10/13 3:17pm
Msg #487652

Between NNA, fees cut in half since 2006 and the lack of relationship development it makes it harder to keep ahead.

Just to many of us available in my area and I know some would work for 40 bucks if they could.

Reply by TacomaBoy on 10/10/13 3:45pm
Msg #487660

Plans BF & D starting now

WoW! It appears this slow down is a lot more onerous and creepy for us than other times. Lender and escrow biz pipelines are drying up as a result of the government shut down and as a result of the cessation of different lending programs. I'm battening down the hatches by cutting all of my living and biz costs down to the bone. Good Luck!

Reply by Linda_H/FL on 10/10/13 4:37pm
Msg #487669

Wishing you the best of luck, Mike. n/m

Reply by PegiT_MN on 10/10/13 4:46pm
Msg #487673

Good Luck Mike! n/m

Reply by MW/VA on 10/10/13 6:20pm
Msg #487688

Good luck, Mike. We have no idea when or if things will

pick up again. You have to look out for you & your family.

Reply by Notarysigner on 10/10/13 6:42pm
Msg #487693

Go with you gut feeling! I did three last month and two in Aug. Of course I've done a lot of car loans and GNW the loan signing biz is gone (mostly my fault as far as fees, attitude, etc.). I've discovered a lot of posters here stopped doing signings so no big deal. Plan "B" is always a good idea no matter what.

You'll survive, you'll see!

Reply by 101livescan on 10/11/13 7:33am
Msg #487736

This is dejavu of what we experienced in 2007/08 when Meredith Whitney, Economist for one of the big financial firms blew the whistle on Wall Street and became E.F. Hutton.

Things have never been the same. Our industry is very volatile. Everyone should have a Plan B that is sustainable, especially if you have a family to support. This is no longer a reliable source of income.

The vultures are circling overhead, taking advantage of notaries left and right. Just like last time.