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Ops, MLO, IT Jobs; MSR, Originator Ranking, Digital Tools; FHA s Bevy of News; Ginnie s eNote Pool Jan 28 2021, 8:19AM
The stock price of American Airlines back to February 2020 levels. Investors seem to be “buying hope.” In Mortgage Land, though I am beginning to hear tales of pricing margins dropping slightly, if you’re a lender and it takes your back office two months to close a refinance, why make your pricing more aggressive? How does that help customer service? Prices and money are interesting constructs. I remember the thrill of finding a dime or quarter in a coin return when I was a kid. Hugh Hefner became a multimillionaire staying home in his pajamas. I am not seeing the same result. The older I get the more I appreciate alcohol that is on sale. But returning to taking two months to close a loan, I didn’t pull that out of… thin air. ICE Mortgage Technology s (formerly Ellie Mae s) records for the Origination Insight Report showed (for
Loans Still Taking 2 Months to Close as Refi Demand Stays Strong Jan 25 2021, 9:46AM
The
interest rates on 30-year fixed rate mortgages originated in December reached
an all-time low in ICE Mortgage Technology s (formerly Ellie Mae s) records, an
average of 2.93 percent and a 4-basis point decline from the November rate. The
company, in its monthly
Origination Insight Report, said the note rate
for all three loan types it tracks, FHA, Conventional, and VA, were all below
3.0 percent for the second straight month. FHA and Conventional loans dropped
to 2.94 and 2.96 percent, respectively.
Each averaged 2.99 percent the prior month. The VA rate fell from 2.72 to 2.66
Ops, Branch Manager, LO Jobs; CFO Role Wanted; First American Rebrand; Rural, FHA, VA Program Changes Dec 18 2020, 8:18AM
I don’t know what’s longer, a “regular” minute, “microwave” minute, or a “treadmill” minute. Speaking of time, if someone sends you an email saying, “The noon meeting has been moved forward two hours,” how do you read that, 10AM to 2PM? The answer shows which of these two ways you perceive time. Time perception really does matter: Some parts of 2020 dragged, some not. If a borrower is buying a home, a survey by Spruce tells us what every MLO knows: According to Ellie Mae s Origination Insight Report, loans are taking an average of 54 days to process, and homebuyers who are frustrated with the time to close are open to tech solutions. Time can also not be your friend if you’re a renter waiting to buy a home. Generally speaking, given interest rates, monthly payments from owners are less than rent payments (renters
Yes, The AVERAGE Loan is Taking Almost 2 Months to Close Dec 17 2020, 7:08AM
According to Ellie Mae s
Origination Insight Report, loans closed during November had an average note
rate of 2.97 percent. The
30-year note rate for FHA and Conventional loans
dropped below the three percent
mark for the first time, averaging 2.99 percent. The note rate on VA loans
continued to decrease, hitting 2.72 percent.
Refinances constituted 61 percent of
total closed loans in the month, 1 point more than in October and 12 points higher
than the November 2019 level. The distribution of loans across lenders held relatively
steady with conventional loans accounting for 82 percent of total originations