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BobbiCT
Connecticut
135 Posts |
 Posted - 05/30/2013 : 09:55:39 AM
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Remember: Your volume of work not only will change with the number of NSAs in your area competing for the same book of business (fees will vary greatly depending on their individual net profit margins, particularly services accepting "bids" from the LOWEST NSA fee quote regardless of experience).
Mortgage refinancing boom/bust depends on the number of residential houses in your area, owners need and ABILITY to refinance, owners ability to qualify for a loan and that the house loan-to-value works out for what the borrower needs/wants, out-of-pocket closing costs (months when changing to a new lender means coming up with 5-7 months of property tax which is escrowed with the "old" lender and not available at closing), and interest rates - PLUS the marketing of lenders in your area to get mortgage business (TV ads for Quicken, Greenlight, etc. give you an idea where the next big "loan push" will come from).
Ancient days homeowners moved or refinanced on average every 7 years. Count yourself lucky that in these days it is every 3 years - or less when mortgage interest rates were dropping 1/2 percent or more. In a stable or increasing interest rate environment when housing values have not increased a great deal, homeowners may not be that quick to refinance.
Bobbi in CT |
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davidlwilliams
Massachusetts
47 Posts |
Posted - 05/26/2013 : 8:05:17 PM
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It seems that the barriers to making a full living at this are formidable:
Agencies paying less all the time and demanding more for the low dollar.
Higher gas prices (ditto toner, memberships, etc.).
Many, many people doing this, some desperate enough to take any offer.
The irregularity of calls: some too many to take at times, other times weeks without a single call. Winter esp. is thin. The plush times are not plush enough to carry me though the rough times.
How about you?
Remember many people do this to avoid saying things like: "Welcome to Walmart" for minimum wage twelve hours a week. |
Edited by - davidlwilliams on 05/26/2013 8:31:22 PM |
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theinsurancelady
Washington
38 Posts |
Posted - 08/19/2009 : 9:40:34 PM
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Hang in there kiddo! The end of the month is coming around and it it will come to New Jersey, too. Every loan I've closed in the last few weeks has been with a customer who has been standing in line (sometimes for weeks or months) for the loan to close. There's a back-log with interest rates at a 40-year low...and when the loan officers get caught up, they'll be calling you in Jersey.
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Newnotary
18 Posts |
Posted - 08/19/2009 : 07:13:02 AM
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Being new to this business I wasn't sure what to expect. The census from everyone is that making a living out of this is not likely. I was constantly busy for a little over three months (when I started) which was encouraging, and now if I get one call I'm lucky. I've been told that (NJ) has slowed down and I haven't gotten work in two weeks. How is everyone else doing? I was also wondering how many different companies do you guys do work for that actually call? Would you say you get work from a variety of companies as opposed to say, one or two? I was also told once again to try lowering my fee to $45 and $20 for Edocs. That's not happening anytime soon. |
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