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Posted by grapebed on 6/19/22 1:32pm
because I have done 30 RONS in 2022 and missed out on probably hundreds of RON signing opportunities from AMROCK. The majority of RON signings seemed to have enjoyed the simplicity of a virtual siigning.
As previously posted, the RON closings go really fast ( 15 minutes max) despite my best efforts to explain some of the basics. The borrowers have been super prepared by AMROCK. I don’t believe that AMROCK’s goal is to commit fraud. Paper or electronic electronic, many borrowers don’t fully understand what they are signing. I totally trust AMROCK’s procedures. They are phenomenal.
Regardless of the signing method, the volume of refi’s is getting crushed. I don’t expect to do more than 10 RONS for the remainder of 2022. The Fed will raise interests again on July 30th and again in mid September. Inflation ( particularly gas and food) is out of control. There really isn’t much that the Fed can do.
I have raised all of my prices substantially. Most people don’t really care. Household incomes and net worths have sky rocketed. They just want the job done quickly and at their convenience.
If you need income as a mobile loan signing agent, remember this is a dying industry with dwindling profitability in an inflationary environment. That’s a bad combination. The good news is that the legitimate job market and wages/benefits are higher.
There are exceptions The notary education business and notary directories. They ate quite profitable, thanks to money from wanna be notaries. Newbies be forewarned. You do want to be educated in a dying industry. What’s the point? |
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