I sent a PM to past team members to try and fill Wildcard with something better than my 450 I hope. My AC may get fixed today, but we'll see if the tech needs to order/pick up parts first. I'm folding to try and help as much as I can, but quite honestly...
I cannot afford too. I've had the most terrible time getting mortgages to close here lately. I managed a retail store with 13+ employees when I was 18. I then switched to finance and worked my way up to a Branch Manager. I jumped out of that to be in the mortgage business. I've done mortgages for 14 years now. 10 out of my last 14 loans fell apart with 3 still remaining in processing in which 1 is likely to fall out due to no one accepting the guys county grant, and I don't get paid unless they close. It's been a little over 3 months since I've gotten a paycheck in my hands. I've gotten by with side jobs, selling personal property, and moving to a cheaper place.
I've been diligently seeking employment, and I'll likely convert mortgages to part-time since I cannot rely on this business anymore. I'm torn up by it. I used to close 92% of the loans I turned in. These were all good loans. Just so you can understand how picky things have become, here is a list of reasons a few fell through, and I do mainly all purchase transactions:
- Guy is fully approved, but none of my investors will accept his county grant he was approved for that is $31,000 and doesn't have to be repaid plus fixes the house up.
- Guy is fully approved and gives me cancelled checks for rent, but moves out and sues his landlord over a well documented case of harassment. Since we cannot get the landlord to respond, and there is no lease agreement, we cannot verify with 100% certainty that rent was paid on time.
- Because of the issue above, I lost the loan I was doing for the peoples home they were purchasing. I had the sellers loan approved, but they bailed on me.
- Low appraisal on 1 purchase which was pretty rare, but the loan was fully approved, and it was a 2nd appraisal due to the first one being poorly done.
- Guy was fully approved and had a mold inspection done on a HUD home. Home needed 9k in mold repairs done. He backed out. He finds another home, but mysteriously backs out on it as well.
- Had a loan fully approved subject to 1 final condition surrounding a prior home. She re-affirmed on the first mortgage, and meant to re-affirm on the 2nd, but the attorney did not do it correctly so the loan was turned down.
I don't think I need to continue. I drove to these peoples house, did all sorts of work, and I get nothing! It's something I cannot keep doing full time. It's way too unreliable. I'm signing paperwork with 2 more clients this week, but it's going to take about 60 days to get them closed because USDA is 25 days behind on underwriting. I have 2 loans almost ready to close, but one client is away for 2 weeks for a mission trip. The other has not been approved just yet, but should be today or tomorrow.