I'd become
a professional chef/dietician
a pilates instructor (or yoga)
a forensic crime scene investigator
a travel writer
Anything but a loan signing agent. I still pulll in a decent income from loan signing, but it's nothing like it was in 2000, when I'd come home with 12 fedex packages sitting outside my door at $150 each. Some had checks inside them already paying me for my assiygnment. There are way too many hands in the mix.
During the housing bust, a lot of people lost their jobs and went out and started signing services; then we had the SPW come into play, then Snapdocs, then more platforms, then the concept of volume, the lower fee you accept the more work they will send you (meanwhile, you're working your butt off, spending more money on supplies and gas, driving your vehicle and your body into the ground).
If you are not already connected with direct escrow/title and lenders, you will only be paid chicken feed signing fees, by companies that won't pay you for 6-8-10 weeks, and then figure out a way not to pay you full fee.
In a couple more years, I'm throwing in the towel and I'll be spending more time doing the things that are pleasing, enjoyable, donating my time to people who are appreciative of a hand up, making other people's lives more meaningful, mentoring young people. And traveling with my family and friends!
I had my first Xome signing yesterday. $XXX. 165 pages, 30 or so pages telling me how to do my job. All I can say is they must be hiring a bunch of dummies. Then my signature was required on every page that I had read and understood the instructions, which I can do in my sleep.
Competition these days is people who will work for paltry fees, then be hovered over/micromanaging your business. Some can't spell, read, speak intelligently, or connect the dots and have never seen a loan document because they've never been a homeowner.
There are so many more obstacles and hurdles in this business, and the error rate by lenders, title and escrow seems to be escalating lately. I've had a lot of re-signs.
This week I signed a VA refi for an Army Coronel who had an e-signing with another notary. It didn't take, and I showed up with a sheef of papers to re-sign. He was pissed! He was having a bourbon and water at the table, asked me to join him. Thanks, but no thanks. I need to say awake for 3 more hours and drive, and get home safely. I turned down a lot of work, desperate schedulers with angry borrowers who've had nothing but angst in the entire process.
It is definitely not the work it once was! Lost DOTs, Notes, wrong loan amounts on the Note requiring loan mod. It's simply crazy and nothing fazes me any more, but definitely not as rewarding as it was when I began in this insane business.
Oh, yeah, you're supposed to be calm when a rottweiler takes a big bite out of your arm and leg calf, you fall on a wine cork before you reach the table and break your ass, and pay for all your own medical care.
Still interested? I could write a book as many of us in this thread.
It's important to be dialed into the companies that will appreciate you, pay you your worth, and are loyal. These days it's all about finding the cheapest notary, not the best notary!
Good luck to you. I'd rather be preparing palate pleasing gourmet meals and wine pairing for people who enjoy a delicious, healthy spread in their home, for starters.
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