Latest Breaking News On - Apex home - Page 1 : vimarsana.com
Hundreds of billions of servicing are being bought & sold out there. With Freddie & Fannie servicing trading at 5:1 (mid 3’s for Ginnie servicing), given current rates versus where servicing portfolios are, servicers are tapping into this source of capital instead of letting it sit on their balance sheet. Think of it as a savings account for a lender that retains servicing: with revenues dipping, the cash from a servicing sale can come in handy. Meanwhile, lenders and loan originators are being asked, “Are you trying to win, or just trying not to lose?” Investors and lenders are sharpening their pricing pencils for purchases at the expense of refis. Webinars abound about how MLOs, and their parent lender, should go after the purchase business. It’ll be a dog fight out there, at least for new home business, much of which goes to builder’s lenders. Recently we learned that mortgage applications for new-home purchases in December decreased 7.1% compared with December 2020, according to the latest Mortgage Bankers Association (MBA) Builder Application Survey (BAS). Compared with November, applications decreased by 5%. “Applications to buy a new home slowed in December, while the activity remained tilted to higher-priced homes,” says Joel Kan, MBA’s fabled AVP of economic and industry forecasting. Lender & broker services and products Grow your business in 2022 with Northpointe Bank Correspondent Lending. Northpointe’s 100% financing no mortgage insurance Medical Professionals program offers loan amounts up to $1,000,000 and allows 14 types of eligible professional designations, including dentists, pharmacists, veterinarians, and chiropractors. Eligible for borrowers currently practicing or beginning employment within 90 days of loan closing. Leverage Northpointe’s eNote delivery to increase your efficiency in 2022 while improving and streamlining the closing experience for borrowers. eNote delivery is fully digital, compliant, and utilizes Remote Online Notarization (RON), so borrowers can sign documents even when they aren’t in the same physical location as a notary. In addition, home loans typically fund faster with eNote delivery since all documentation is electronic. Northpointe Bank provides tailored solutions to maximize your profitability and help your business grow. Email us at correspondentsales@northpointe.com for more information.
United-statesAmericanErick-cavalcantiNeil-armstrongKenny-parkhurstCraig-strentLas-vegasGibran-nicholasJoel-kanDoug-opdyckeRob-withersFreddie-fannieAnyone who’s seen 1968’s “2001: A Space Odyssey” remembers the talking computer HAL (whose name was cleverly derived from subtracting one letter from IBM). We need more acronyms, right?! Here’s one I hadn’t heard: BNPL. The buy now, pay later industry is an increasingly important driver of retail sales, so has caught the attention of the mortgage industry’s pal the Consumer Finance Protection Bureau. I’d never heard of Affirm, Afterpay, Klarna, and Zip, notable players in the BNPL industry, but regulators are looking into their data collection policies. Those danged computers and their programmers! Are help desk jobs in jeopardy? Perhaps: Capacity just raised another chunk of change to automate helpdesks. Ever heard of Coadjute? Me neither (it’s a UK company) but its basic business purpose is something you and your real estate agent connections should know about: using blockchain to “bring together everyone involved in a transaction, improving communication and speeding up the process.” Speaking of real estate agents, this one in Georgia ran afoul of the Department of Justice in committing mortgage fraud. (Today’s audio version of the commentary is available here and this week’s is sponsored by TMS , a top 10 subservicer with a 98 percent customer satisfaction rate. TMS is on a mission to “Grow Happiness” and delivers next level service with their award-winning proprietary technology, SIME. Today’s episode includes an Interview with Chuck Dimiceli, EVP of Secondary Marketing, on what Capital Markets folks spend their days doing.)
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