Condo Project Advisor News Today

Did someone say, “National Margarita Day”? (Splendid timing, especially as vendors and lenders contemplate a rate and volume environment that may not change much for months, and compensation & personnel adjustments continue.) In 2023, the United States was the leading recipient of Mexico’s tequila exports, importing 84.8 million gallons of tequila from South of the Border. This has nothing to do with residential lending, other than plenty of folks in our biz enjo...

Condo mortgage originations will be "streamlined" by Freddie Mac, which added a new designation to its project advisor tool.

McDonald’s taking 9 years to eliminate its self-serve soda pop machines. (Couldn’t they take 5 hours and just move the machines behind the counter?) In other non-mortgage news, arguably more interesting to talk about than the continued decline in mortgage applications and IMBs concerned about CRA requirements (STRATMOR’s current blog is titled, “Knowing CRA Developments is Critical”), remember when it was Ford, GM, and Chrysler? The third largest automaker in t...

Today's Fed meeting announcement is the last one until September 20. Mortgage rates, of course, are prone to moving around even without the Fed’s direction. Meanwhile, the second quarter earnings from lenders are of great interest to warehouse banks and investors (including Freddie Mac and Fannie Mae). Those counterparties are contractually limited as to what they can do with companies that are not making money and have seen their net worth erode over the months and quarters. Ther...

Fannie Mae and Freddie Mac's updates define critical repairs, prohibit the sale of unsafe units and update building information.

The new automation, which processes information on tens of thousands of projects, is designed to be useful to lenders financing single family units.

Here in Louisville, at AgFirst’s Correspondent Lending Conference, much of the discussion involves going after builder business (“focusing on how fast they get paid so they can pay their subs”), rural programs (“know how to communicate with your clients, or else”), top producer success (“treat your processor like royalty, and fill out the information correctly in the first place,” “set boundaries,” “sell yourself, not rates&#x...