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HELOC, Non-Agency, Valuation, Co-issue, DEI Hiring Products; Events and Training

Our industry continues to be battered. Starwood Capital-backed Reverse Mortgage Funding and its parent company Reverse Mortgage Investment Trust have filed for bankruptcy. Inlanta Mortgage told the state of Wisconsin it plans to wind down its business. Switching gears, to celebrate the first day of December, spend 5 minutes taking one of my favorite quizzes, focused on figuring out where you’re from based on the words you use for certain common things. (What do you call the little bug tha...
United States Mike Vough Erika Cox Phil Rasori Rob Chrisman Justin Grant

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Subservicer, Processing, Non-QM, Culture Building Tools; USDA, FHA Changes; Freddie's Cash Flow Product

Do you think putting together a loan is tough? How ‘bout a giant skeleton in your front yard? This dedicated individual has documented the process of his spooky creations on Instructables. This will be super helpful for when you create a giant skeleton of your own next year or pass this along to a new homeowner that recently bought a home with your company’s help. Owners and managers of lenders and vendors wish their jobs were as easy. As their companies, small and large, do their...
United States North Dakota United Kingdom Freddie Mac Casey Cunningham Ron Wallace

MLO Jobs; Automation, MSR Valuation Tools; STRATMOR Comp Data and Survey; Events and Training

Now we have a butter shortage raising prices ahead of the holidays. Great. While margarine makers are licking their chops over the news, vegans and other readers should know that no animals are ever harmed in the making of this commentary! But speaking of harm, in the current environment, and probably for the next couple quarters, vendors and lenders working 30 percent harder to make 40 percent less. Or worse. If the Fed’s actions can push asset prices higher, it’s actions can also...
National University United States Cleveland Mester Evan Hastings Francisco Daly Casey Cunningham

Non-QM, DPA, Jumbo News; Training, Servicing, Marketing, Dashboard Tools; 10-Year Approaching 3 Percent

As the nation ruminates on the court ruling on the mandatory mask mandate, remember, “You do not need a parachute to skydive. You only need a parachute to skydive twice.” It is a safe bet that the Federal Reserve will raise short term rates more than twice before summer. This month’s STRATMOR blog is titled, “A Primer on the Federal Reserve and Mortgage Rates.” Here in Atlanta, in the MBA-STRATMOR Peer Group Roundtable meetings, much of the conversation revolve...
New York United States Elliot Eisenberg Kenny Parkhurst Leo Anzoleaga Kim Schenck

Training and Events; TPO, Processing, Tax Products

This isn’t a commentary. It’s a “next level experience!” How are we in the week ending the first quarter already? Here’s some news that will be greeted with glee by every independent mortgage banker in the nation, whether they do business in California or not. The California MBA and national MBA, and constituents across the state, have defeated the CRA requirement for non-depository institutions in that CA. Given that 20-25 percent of residential production com...
United States San Antonio David Schroeder Matt Tippets Rob Chrisman Susan Milazzo

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