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DPA, Subservicing, Loss Mit, Fee Collection Tools; Banking... This is Not 2008; STRATMOR on Customer Experience

The Ides of March… And college basketball time. Here in Kentucky (men #6 in the East, Louisville women’s team #5) I overheard someone on the phone. “Yesterday I saw a woman in Walmart with March Madness teeth. She was down to her final four.” March Madness is in full swing, whether it is hoops or bonds. Or bank stocks. Is this really a fundamental structural plunging of the United States’ financial system? Doubtful. Moody’s came out with a warning about ...
United States Adam Rieke Elliot Eisenberg Sean Moss Pat Bolan Joe Chappell

Servicing, Marketing, DSCR, Correspondent Tools; STRATMOR on Customer Service; RESPA Loan Comparison Sites

Not every house is a 3 bedroom, 2 bath, single story subdivision home. Appraisers and underwriters aren’t big fans of places that aren’t, due to the lack of comps or the problems in “salability” should something go wrong. Inventive housing? Watch this house slide open to reveal Flexible Spaces (and an open-air bathroom). Some people have a home theater, but here’s a theater home for sale. And, finding homeowner’s insurance aside, what do kids do in this ...
United States Steve Young Egypt Sherrod Las Vegas Denysis Rodriguez Simplenexu Ben Miller

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Ginnie Delivery, Fee Collection, Processing, Insurance, Warehouse Mgt. Tools; Celebrity Home Loans' Goodbye Letter

“I had a cousin who created a cold air balloon. But it never took off.” Like the intricacies of residential lending, few people are aware of the world of balloons. Meteorologists launch high-altitude balloons from the United States dozens of times each day. What’s more, weather balloons, are deployed twice a day, every day, at the same time from almost 900 locations around the world. Plenty of balloons fall to the earth. I really don’t like sensationalist headlines li...
United States Freddie Mac Las Vegas Rory Ballard Joe Tyrrell Garth Graham

TPO non-Agency products; credit reporting, QC, home insurance, fee collection tools; mortgage apps skyrocket

A friend out in California asked me how much, on average, I spend on a bottle of wine. I replied, “About half an hour.” Plenty of wine is being consumed while watching Yellowstone and 1923, and while all the women are ogling Spencer Dutton in 1923, in some non-mortgage news to save the economy the Secretary of Homeland Security will announce next month that the Immigration and Customs Enforcement will start deporting seniors (instead of illegals) to lower Social Security and Medica...
United States San Diego Spencer Dutton Garth David Andrew Cady Tom Booker

Fee Collection, Bi-Lingual, Marketing Products; Thoughts on 2023: Not for the Faint-of-Heart

Don C. shot me a note saying, “My New Year's Resolution is to stop being so condescending! (Rob, condescending means talking down to people.)” Thank you for that… The jungle drums have Amerifirst (the one in Arizona, not Michigan which was purchased by Guild) shutting its doors on 12/31, and rumors have American Pacific’s recruiters working through a wide swath of the company. (Remember that anyone can post their resume for free here for employers to view. Peo...
United States Craigj Lazzara Jeff Cothern Bryan Neitzelt Jessica Janowski Scott Brown

Tax, Fee Collection, Digital, TPO Products; FHFA, Freddie, Fannie Developments

This morning I Head East to Chicago for a handful of days. If you’ve wondered what a pilot sees when landing at O’Hare, here’s a mesmerizing video. (What is the tallest building in Chicago? The library, because it has so many stories.) From coast to coast lenders and vendors are eyeing the MBA’s volume predictions for 2023 and stay ahead by reducing overhead. In the furor over cutting costs, a cottage industry has sprung up helping lenders review their vendor arrangem...
United States San Francisco Jayme Dungan Glenn Stearns Freddie Mac Alan Parris

Comp Strategy, Non-QM, Fee Collection, Marketing Products; U.S. Bank's Wholesale Decision

Yesterday I spent some time in Northern California with two groups, one of which was CAMP, and while morale is good and everyone is in the holiday spirit, the business focus is on trying to reduce costs, rollout products to help what few borrowers are out there, and leverage technology as we head through December and into the winter. Christmas will be here before you know it. Have you noticed that FedEx trucks have different colors in their logos? Well, they do, and they mean something. (And don...
United States Kathryn Edelen Alan Parris Rob Chrisman Fannie Freddie Ocrolu Suzanne Ross

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