Page 17 - Broker Software News Today

Yesterday in Ft. Wayne, Indiana, at the Indiana Mortgage Bankers Association’s annual conference, one of the non-mortgage conversations that I had was about TV. (Sometimes people talk about shows they’re “streaming.”) I don’t know what’s what: Hulu, Paramount, Paramount+, Dish, Amazon Prime, Disney, Disney Plus, Charter, Verizon, Comcast, You Tube TV, Peacock… can’t we just go back to cable? Maybe not: The number of Americans opting ou...

As servicing rights continue to be sold, and residential lender layoffs are rampant, here’s a quick reminder that anyone displaced can post their resume for free here; employers can view all resumes for a flat $75 for several months. Today I am passing through Chicago to the Indiana MBA conference. Unfortunately Chicago has the dubious distinction of being on the List of Top 10 Metro Areas where home prices are down the most. (Toledo, Rochester, and Detroit make up the top three.) Did you...

Vice President Dan Quayle sagely observed, among other things, “If we don't succeed, we run the risk of failure." Is our housing market in danger of failing? Hardly. But lenders, big and small, continue to engage in personnel cutbacks, and grappling with companies offering all-cash programs as highlighted in the STRATMOR Group piece. But, like a marathon runner hitting mile 20, there are signs of weariness and the press is flooded with housing news. Attom Data reports a &...

If you see me talking to myself, just move along. I'm self-employed, and we're having a staff meeting. Self-employed borrowers are certainly a target of non-QM lenders around the nation. Non-bank lenders continue to grapple with 2nd mortgage program availability and the HELOC edge that some portfolio lenders have, everyone is watching the housing market. And even traditional depository lenders are trying to adapt… like this headline about Wells Fargo possibly scaling back ...

This morning I head off to Orange County to the IMN Non-QM Forum where homeownership and home finance option discussions will be center stage. Did you know that June is “Homeownership Month”? Ginger B. reminds us that, the average homeowner will move up to 12 times in their life and on average will own 3 homes in their life, and the median distance between the homes people purchased and those they moved from is just 15 miles. Create a customer for life with your service! Affordable...

Yes, it’s already Tuesday. Are we at the top of the market? A pair of Goldman Sachs-backed ventures gobbled up an entire rental home community in Florida last month for $45 million, according to reports. Lenders everywhere keep one eye on housing trends, and every Friday at 3PM ET I do a Zoom show with Rich Swerbinsky for The Mortgage Collaborative discussing current events in finance and housing. I try to have fun backgrounds. In Friday’s show, however, at the 6-minute mark the wi...

What guy hasn’t wanted to usher a gal through to a club like Ray Liotta did, masterfully filmed without cutting away? Unfortunately, breaking the spell of the video, I received this note. “Rob, what have you heard regarding a miscalculation of credit scores by Equifax in late March and early April on a sizeable portion of their pulls?” I have indeed heard rumors, and indeed heard rumors that it potentially impacted thousands of borrowers across the United States, possibly in...

Yesterday I visited Sacramento to speak to an audience of real estate agents and originators in a joint MGIC/Golden 1 Credit Union event. The mood was good, and much of the discussion was about rent (give or take a little, 50 percent the U.S. is paying 50 percent of their income in rent) and products offered by depositories and portfolio lenders. Attendees also remarked how fast 2022 is moving. We’re fast approaching Memorial Day, marking the unofficial start of summer. Radio stations sta...

All the stories that could be told, and so many that have yet to happen. And now 19 that never will be. It is very hard to go about one’s day, whether one has children or not, or a teacher in their family as I do, or not, given what happened in Uvalde, Texas, yesterday. Or to imagine what being in that classroom was like. And just like after every other mass shooting in the United States, fingers are pointed, lines are drawn, and rhetoric that we’ve all heard before is repeated unt...

The last pay phone was removed from New York City yesterday. (Heck, growing up I financed my baseball card purchases by looking for loose change in those and newspaper vending machines.) Communication is certainly always changing, and successful loan officers and managers are adept at knowing the best way to communicate with others. Communication aside, loan officers have a lot on their plates. On a micro level, every loan is a hard deal, and LOs are focused on providing the best program for the...