There was once a well known NSA trainer who bragged that one of her students pulled in a large 6 figure income during their first year. The NSA trainer latter admitted that her student’s NSA income was only a fraction of her total income.
I state this as an example of a lack of transparency on the part of the Success Bombers. When the majority of NSAs are struggling while a few are succeeding beyond, several things come to mind. First, is this person being honest and transparent? Most NSAs are working for multiple agencies (TCs, Lenders, SS). When someone is bragging about their success while showing you a single 1099 with 6 figure revenue, raises my eyebrow when the majority are receiving multiple 1099s. You’ll also notice that the bragger often redacts their name and location making it impossible to see if the 1099 is actually theirs.
Some states have different regulations when it comes to loan closings. In States like Texas [mine] the threshold for becoming a notary are low. In Texas if you have a clean criminal record and can fog a mirror you can be a notary. Other states have much more restrictive requirements. Some of these states require an Attorney, Title Originator, Escrow Agent, etc., to close a loan. These restrictions limit the supply of signing agents raising the cost of a closing.
There’s also a collection of individuals who posses a need to brag that’s motivated by a Psycho-Emotional dynamic. These individuals have a deep need to present them selves as something they’re not. The root motivation for these individuals is beyond the scope of my expertise. I sometimes encountered these folks during my tenure as a Financial Crimes Investigator, where I relied on the expertise of profilers. While these individuals may be using deception, fortunately they are seldom involved in nefarious activities.
Those who are relying on hope that things will soon return to what’s happened over the last 2 years will likely be disappointed. We’re already seeing lenders cutting loose of their Loan Processing staff. There are signing services who are shutting down with the big one laying off staff. These are indicators that the market is slowing down.