conforming loans: Live & Latest News Updates : Vimarsana.com

Understanding Debt Consolidation Loans with Bad Credit: An Overview by Non Conforming Loans Pty Ltd

Asset Depletion, Appraisal Form Products; Union Home/Amerifirst (MI); loanDepot/CrossCountry; Investor News

When I see lover’s names carved into the wood on a tree, I don’t think it’s sweet. I just think how surprising it is how many people bring a knife on a date. Time passes, life goes by fast, first dates turn into long-term relationships, a hot summer has been forgotten, turned into a beautiful autumn, and turned into an arctic winter. Time has passed, and it is nearly Christmas Eve. Ya’ll sick of Christmas carols (again)? The Winter Solstice has occurred, meaning that the minutes of daylight will only increase for the next six months in the northern hemisphere. People are planning for 2023, as if the calendar changing from December to January will have an impact on rates, volumes, margins, or revenue. Augie Del Rio with Gallus Insights did a video interview with Tammy Richards and me about how lenders and vendors are reacting to the end of 2022 and the beginning of 2023. (Gallus Insights helps lenders make data-driven decisions.) And before we know it, Wi-Fi will be free on airlines… Just ask Delta. (Today’s podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking. Listen to an interview with Ally Home’s Glenn Brunker on the current environment and how originators are coping.) Lender and Broker Software, Products and Services Strength. Stability. Deep know-how that comes from navigating 35 years of all kinds of markets. That’s what Flagstar Bank brings to the table. Nearly $90 billion in assets. Vast experience in all four mortgage-channels. A comprehensive product offering including the recently rolled-out Advantage Plus, with expanded eligibility guidelines including a minimum credit score of 660 and DTI to 55%, and which also allows full and limited documentation including asset depletion. So, whatever your business initiative, know this: for 35 years Flagstar Bank has delivered in challenging markets. And they’ll deliver in this one. Don’t settle for second best, especially in a market this challenging. Choose Flagstar. Visit us or reach out to John Gibson.

Fulfillment, Social Media Compliance, Jumbo Products; Conforming Conventional Changes

“Hey Chet, since you’re the new guy here with the park U.S. Geological Survey in Hawai’i, you’re going to be the one placing the live cam on the volcano for our YouTube feed. Splendid! We’ll be behind you all the way.” (Apply to mortgage banking however you see fit.) Scooting back to lending, I am occasionally asked about high balance conforming conventional loans, and why so much of the country doesn’t care about them (to be somewhat blunt). The MBA put out a fine map showing “high-cost areas” defined by the FHFA as “areas in which 115 percent of the local median home value exceeds the baseline conforming loan limit.” The loan limits are permitted to be higher than the baseline loan limit until a ceiling of 150 percent of the baseline limit is reached. That said, remember that 20-25 percent of the nation’s home loans come from California. (Today's podcast is brought to you by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender, and today’s features and interview with Candor’s Sara Knochel on creating the first Loan Quality Services (LQS) underwriting engine, increasing efficiencies for mortgage lenders in a tight market.) Lender and Broker Software and Services Recently, a Massachusetts woman was accused of assaulting officers with a swarm of angry bees, Exhibit A, in an ill-advised “hive-jacking” of collective strength. On the other hand, mortgage lenders are focusing on putting their real estate agent network to far better use to increase referral pipelines. Fortunately, SimpleNexus, an nCino Company, helps lenders like Genesee Regional Bank (GRB) connect with more partners to execute productive referral strategies. Through a sharable mobile app, real estate agents can run payment calculations, integrate home search listings, generate self-serve pre-qual letters, and receive push notifications when borrowers complete loan milestones. Download the free case study to learn more about GRB’s experience with SimpleNexus, including its processing, operations, and post-closing efficiencies.

Subservicing, Profitability, Servicing Products; Investor's Conventional Conforming Changes

Mortgage rates dropped after mid-June. Momentarily switching gears, given their role in cakes, breakfasts, custards, and breads, if eggs didn’t exist, would a food scientist have to had invented them? I mention this because the benchmark price of eggs in the U.S. was down to $2.16 a dozen two weeks ago, down 37 percent from the record high $3.38 a dozen in mid-July. These lower prices should be reflected at grocery stores with prices dropping by a dollar a dozen or so. The cause for the spike in the price of eggs was an avian flu that ravaged the U.S. population, killing 30 million commercial and wild birds, and the successful recent moves to repopulate the hens. The downward trend in prices is expected to continue. Homeowners and real estate agents don’t mind a return to “normal” inventory in markets and historical price appreciation rates. But this sensationalist headline will grab some readers: “Home prices plunging in ‘pandemic boomtowns’ as market slumps!” It seems that “plunging” has a different meaning than what I thought it meant as the article discusses slowing appreciation and some price cuts on the listing prices of houses. (Today’s podcast is available here and this week’s is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology and other services in the mortgage industry and in banking. Today’s has interview e1even’s Ryan Roberts on generating high value leads and calculating return on lead gen efforts.)

Recruiting, Cap. Mkts., DPA, Lead Conversion, Broker Products; Jumbo, Non-Agency, Non-QM News

We began 2022 thinking that this might be the “Year of Non-QM.” The product certainly has its advantages for some borrowers, and lenders & investors. And then First Guaranty and Sprout vanished, and the herd of lenders was spooked, began talking about March of 2020 when some investors backed away from the market, and everyone was reminded to never have only one “take out” for a given loan or product. And then the headline yesterday: “SEC Charges Angel Oak Capital Advisors with Misleading Investors in $90 Million Fix-and-Flip Securitization.” Meanwhile, the industry is watching inflation numbers yesterday and today. One way to fight inflation is for a food supplier to put four tomatoes in a box that held five in the past. And don’t get me started on restaurant portions: higher prices and smaller portions have caught the attention of Consumer Affairs. Know that since the CPI report yesterday, Fed speakers have been quick to temper excitement around the numbers and have been reminding the market that inflation is still a very big issue. (Available here, this week’s podcast is sponsored by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender. Today’s has an interview with Interview with Jason Biegel, COO of Change Lending’s residential lending division, on “Securitization 101” and the capabilities it affords.) Broker and Lender Services, Programs, and Software The Wonder Twins of mortgage lending, Sales Boomerang’s borrower intelligence and Mortgage Coach’s lead conversion capabilities combine to help lenders reach their profit goals in any market. For example, Mortgage Coach’s interactive loan comparisons have helped Churchill Mortgage advisors provide heightened consultative service and boost bottom-line KPIs for years. Just ask Churchill’s Tennessee District Manager Kevin Watson, who credits Mortgage Coach for increasing production pull-through in his region by more than 10% just one year post-implementation: “The uptick in closing ratios we’ve experienced since implementing Mortgage Coach speaks to the way that informing borrowers of their options really increases their confidence in doing business with us.” See how Sales Boomerang and Mortgage Coach’s best-in-class technologies can supercharge your lead conversion.

New Loan Products; Sales Webinar; GSE's New Fee, Conforming Conventional Changes

“I used to be indecisive. Now I'm not so sure.” Management teams at lenders and vendors can’t be indecisive in this environment. Who’s going to be right, come Q4 of this year, and Q1 of 2023, which many believe are going to be extremely painful as the purchase market seasonally slows. Are the cuts lenders are making now enough to show warehouse lenders and broker-dealers profitable months and quarters? News continues to hit the tape, including Russia’s first default on debt since 1918. As mentioned in Saturday’s commentary, last week we had the FGMC (First Guarantee) big layoffs/closure of its correspondent and wholesale divisions. There was JPMorgan’s mortgage-related layoffs. That said, what makes headlines these days should be lenders and vendors who aren’t laying people off rather than those that are. How about lenders, servicers, and asset holders watching the Florida (“The Plywood State”) homeowner’s insurance nightmare: FedNat Insurance has said it will cancel 68,200 homeowner insurance policies in Florida at the end of June, just the latest insurer to retreat from “God’s Waiting Room” where we’ve seen powerful storms and pervasive fraud. Managers definitely have their hands full. (Today’s podcast is available here and this week’s is sponsored by Ignite Integration Solutions, Inc., a custom software provider that has created industry leading LOS CORE integrations in addition to a library of Encompass base tools and plug ins, and custom API development with our team of 100% on shore developers to support both Mortgage Lenders and Vendors as clients and partners.)

Customer Experience, Non-QM, eClosing Products; Conventional Conforming Program Adjustments

With the yield on the risk-free 10-year Treasury note hitting 3 percent for the first time since 2018, you deserve some cutting-edge humor. Two hats were hanging on a hat rack in the hallway. One hat said to the other, “You stay here; I'll go on ahead.” In our lending biz, some companies are thinking it is best to “go on ahead” with someone else. Garth Graham, Senior Partner at STRATMOR, fresh off the Planet Home Lending Home Point deal, fired off this note to me. “In a market like this, we expect to see industry consolidation. Planet Home Lending is being opportunistic as being one of the first to seize scale benefits in the TPO space. Planet could double its market share in correspondent, and likely be a top 5 or top 10 player this year. Management is taking advantage of the market dynamics in a way I expect to see others follow. The M&A market is very hot, similar to the numbers from 2018. In 2018, there were 33 deals, then it started to drop as the market improved, and only 13 deals in 2020 during the Covid boom. Last year we were up to 29 deals as the market softened, and this year will likely be over 40 with a large pipeline of active buyers, and conversations with a lot of sellers given the Q1 earnings performance for mortgage bankers. Deals can be put together in less than 90 days like HP and Planet deal. The challenge is when the sellers wait too long to get started.” (Today’s podcast is available here and this week’s is sponsored by MCT’s BAM Marketplace, the world’s first truly open loan exchange, where buyers can bid regardless of approval status, and sellers receive automated live pricing from every buyer on the platform. Interview with MCT CEO, Curtis Richins, on ways BAM Marketplace continues to evolve and disrupt the secondary mortgage marketplace.)

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 over two thousand in 2020. Keeping with the “numbers” theme, I receive my share of questions regarding mortgage-backed security statistics. Anyone doing research on them should check out FINRA’s Reporting of Mortgage and Asset Backed Securities (Securitized Products), a little dry but packed with information. I mention this because, as we know, soon the Fed is scheduled to stop buying MBS every week, and for those of you who like graphs, here is the link to the Federal Reserve’s balance sheet. Yikes! (Today’s audio version of the commentary is available here and this week’s is sponsored by CWDL, providing industry-specific audit, accounting, and tax solutions that help you better understand the present so you can plan for the future. See what’s possible with CWDL. Today’s features an interview with Justin Demola, President of Lenders One, on how collaboration helps those in the industry.) Lender and Broker Products and Services PNC Bank partners with ActiveComply for social media compliance! Created for the financial industry, by the financial industry, ActiveComply is an industry-specific social media monitoring platform that collates social media for IMBs, banks, credit unions, & more. ActiveComply monitors profiles and post content 24/7 to ensure compliance and protect brand reputation. PNC saw an opportunity to demonstrate its commitment to technology and innovation by adding this cloud-based solution to its tech stack. Learn more about how ActiveComply helps you engage with social media safely and meet your compliance and archival requirements by scheduling a personalized demonstration today!

Conforming Conventional Updates; Lender and Broker Services; The Fed Has Spoken

Overheard in the hallway: “My email got hacked again. That’s now the third time I’ve had to rename the cat.” But there’s a lot of other conversation and session topics here in the hallways at the IMB in Nashville. Discussion about the rapidity of the Federal Reserve’s moves in attempting to combat inflation, and how might those moves actually eventually push rates back down if they dampen the economy. How volume and margin projections for 2022 are changing the minds of lenders, potentially turning them into sellers. The impact of Experian Go: a free, first-of-its-kind program designed to help credit invisibles begin building credit on their own terms. The continuing shift by employees, and the mangers managing them, in hybrid work-from-home arrangements. Trends in signing and retention bonuses. (The STRATMOR Group has a compensation survey, as does the MBA’s Compensation Survey.) Conventional servicing multiples up to 5x1! Conventional forbearances are way down, but Ginnie forbearances are still troubling and will take a while to work out. Along those lines, 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 features an interview with me regarding news from the Fed and the IMB Conference in Nashville.) Lender and broker products & services

Loan ServicesMarket to see Huge Growth by 2027 | Allianz, AXA, Mahindra Finance

Loan ServicesMarket to see Huge Growth by 2027 | Allianz, AXA, Mahindra Finance