I have seen a marked reduction in mobile signings here in So Fla–Miami Dade-Broward-Palm Beach counties.
This time last year I was doing about 10-12 a month. June I didn’t do 1. Granted my biggest assignment company Paramount Signatures went out of business for stealing $ and not paying notaries but I’m seeing zippo. Anyone else in the same boat or are you getting signings?
Higher interest rates = few, if any, signings…everywhere.
This sucks…I see companies in Miami posting on LinkedIn how busy they are…must be all in-house.
As the interest rates increase our business slows down and that is normal. Have you studied this? We are tied to the bond market and not the stock market (interest rates). If you have noticed the title companies (FASS, SL, BancServ) are all trying to get us down by $25.00 and that is why. They are cutting corners to keep going and I hate this and it’s part of the business model. We can grin and bear it or do something else. This too shall pass and supposedly the interest rates may increase another 2-4 more times this year. Cut back on expenses, save money and try to wait it out. This is a cycle that comes and goes in the real estate industry year after year after year. Knowledge is power and study, study, study, and worrying does not get it in my life. Have faith and carry on. We are great and we deserve the best.
It’s summer time in Florida, interest rates are up, refinances are down. People go on vacation and incur debts, in the fall they will look for ways to save, business will pick up.
I did one signing in June, turned down 3 lowball offers then took a two week vacation.
Im on a steady 10+ closing a wk in Central Florida. I do a lot of loan modification which are 3 signatures and 15 for 50 dollars.
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That is what happened to Paramount??? I used to do a lot for them too.
I periodically do them now for Network Transaction Solutions, who is actually owned by Hillsborough Title.
Thankfully, Paramount paid me up before going down. I was very grateful to her for it, cause it was over $1000!
I am still doing 50-60 per month in Orange county CA. S FL. should be similar?
If you have not already, go to notaryrotary.com. You need to be a member. You will find al kinds of sign cos there rated by notaries 1-5 stars/. Less than three leave them alone they are hard to work with or do not pay. When I started I made up a little bio and applied to 10-15 every night. Now I do business for cos all over the USA and after 8 years have broad exposure all over the USA
I don’t buy rising rates; 4.8 is till a good rate and there are plenty of purchases and sales and HELOCS