Posted by NotaryMI on 9/23/13 11:00pm
Msg #485678

No closings.....the end of the month

Unbelievable.....I had 3 closings last week and 1 today. Phone never rang all day today. Nothing else scheduled for the rest of the week. This is definitely a shock for me, as I have been so busy the last 2 years. Is everyone else slow? Do you think it will continue to be like this throughout the rest of the year?

Reply by Tim Cameron on 9/23/13 11:26pm
Msg #485682

I got 2 today for this week.....been very slow......we will pick up again pretty soon with the continuation of QE by the Feds.....rates will drop a little and those that didn't take advantage of rates before will not pass up the chance this time.....challenge is, applications taken today will get to us in 60-90 days Just like the slow down we are experiencing now took 60-90 days to reach us

Reply by PATTY/NV on 9/24/13 12:21am
Msg #485683

no work in nv, I have been doing this for 12 yrs and this is the first time I have never had work at the end of the month

Reply by Laurie/TN on 9/24/13 4:55am
Msg #485685

It's been pretty slow here in TN as well. I need to get creative to bring in some business!

Reply by ME/NJ on 9/24/13 7:19am
Msg #485689

Unless you have other sources of income, need to look at job sites.

1. Banks layoff thousands
2. For most it has slowed since July
3. Hope does not pay the bills.
4. Explore options outside loan signing.

This time next month a large percentage of us will be in other FT jobs.

Reply by Judy/TX on 9/24/13 8:11am
Msg #485691

Very slow in North Texas. I have nothing scheduled for the rest of this week. Amazing!

Reply by C. Rivera Chicago Notary Services on 9/24/13 9:38am
Msg #485713

I think it has to do with the new loan servicing laws

that went or are going into effect.

The slowdown is nationwide. Someone posted about the HARP regs...

This of course is an educated guess as to the slow down.

Its slow in my area too, 2 last week and none so far this week, and none scheduled. So I'm catching up on paperwork and marketing....

Reply by Bear900/CA on 9/24/13 10:47am
Msg #485725

We're in volatile times

Rates have been good, even dropping slightly since non-tapering news. 10 yr note is down. That's a small window of oppurtinity that will help somewhat.

Here's the spooky news, besides all the basics we have drilled into our skulls.

Back in May, the Feds leaked they might taper in Sept and that caused some rate panic. Conversely, they didn't taper and rates are drifting down. There are now some vibes that tapering may start as early as Oct that can catch us by surprise again. Yes or no, it makes for rate volatility.

Possible government shut-down will stop FHA loans. Last shut-down was in Clinton years and lasted one week in Oct followed by mid Decemer through mid January. How important is FHA going to be again? Will FHA pipline be able to fund if shut down??

GSEs are cutting conforming limits and ending 97% conventional which is both good and bad for FHA loans, but will FHA be available near future? Conforming limits are soon to drop slightly.

HECMs are just lost in space.

QM starts in January making for tighter loans and most originators are not prepared. Who is?

Who knows how much or if any of this will happen. Good time to go fishing and rest your mind.