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 5 years ago,if you were earning $100-$125 for an assigment,
Posted by grapebed on 6/15/22 1:53pm

just to break-even with inflation, a signing agent in 2022 would have to be earning a minimum of about $145 per standard refi assignment.

The low fees and hourly wage goals noted in this post are disturbing.

5 years ago, I decided that $100-$125 for a typical refi was too low, unacceptable and demeaning. With the exception of one title Company, I decided to transition to 100% GNW. It has been more infinitely more profitable. There was a brief period ( a couple of months) of "pain" during the transition. Otherwise, I have never looked back. I do a bit of RON for Amrock, primarily because I was curious and wanted to "learn" something new, which is very rare in the loan signing business. At the most, RON may generate $2,500 or so in revenue in 2022. It is easy but not a meaningful sorce of revenue. I could take it or leave it.

Not many borrowers will refi in to a 6 1/2% 30-year mortgage. The three percenters aren't moving anywhere until the next generation. That pool of potential borrowers is lost for decades.



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