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Appraisal, Cap Mkts, Corresp. Jobs; DPA, Reno, HELOC Products; Mergers and Industry Updates

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...
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Servicing, Automation, Processing, Sales Tools; Non-QM and Jumbo investor News

May the 4th be with you! Without the lisp, there are many forces tugging at lenders and vendors. Forget 2020 and 2021. Recruiters are asking LOs what their numbers were in 2018 and 2019. Prequals are running amok, and with them costs for any vendor services like credit verification. The Mortgage Bankers Association’s Marina Walsh tells us that the cost per loan has gone up six quarters in a row, despite all the “cost saving” automation. Meanwhile, in the secondary markets, l...
United States New York Miami Beach Ciudad De La Habana Mary Ann Mcgarry Freddie Mac

eSign, Jumbo, Sales, Appraisal Products; Warehouse Wanted; FHA, VA News; QT Ahead? Rates Up, Apps Down

Grammar is important. What’s the difference between a kleptomaniac and a literalist? A literalist takes things literally. A kleptomaniac takes things, literally. How about the grammar of, “Rates ain’t going down any time soon.”? The global bond selloff continues as the day the Federal Reserve is expected to start downsizing its balance sheet draws nearer. On to QT (Quantitative Tightening?) The yield on the 10-year Treasury note is now above 2.6 percent, sending it ba...
North Carolina United States Lance Reordan Freddie Mac Mark Zierott Russ Wright

Study on Prepayments, MLO Productivity, Compliance, Profitability Tools; Conforming Conventional News

I flew into San Diego yesterday for the MCT Exchange, and it is hard not to notice the number of boats in the harbor. For some quick “fun with numbers” on recreational boating: The U.S. state of Florida has the highest number of registered recreational boating vessels in 2020, with almost 959 thousand, closely followed by California. Hawai’i has half as many as Wyoming. In contrast, the District of Columbia had the smallest number of registered boating vessels, with just ove...
United States New Jersey District Of Columbia San Diego Capitol Hill Justin Demola

Lead Gen., Database, Tax Service, Non-Agency Products; Housing Starts and Building Permits Attract Attention

I received this from a loan officer in Michigan. “Forget the Serenity Prayer! Grant me coffee to change the things I can, and wine to accept those that I cannot.” There are tens of thousands of loan originators around the United States, primarily changing things for the better for their clients but recently some of them were caught taking a fraudulent continuing education class. Unrelatedly, one (former) Ohio Mayor claimed that ice fishing can lead to prostitution. Attorney Brian L...
United States Kelly Hebert Greg Richardson Sean Wilson Simplenexu Bryan Manwaring Cleveland Mester

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