Corresp., AE, LO Jobs; Digital, Warehouse, Processing, Pricing Products; Freddie and Fannie News Apr 29 2021, 8:30AM
A “google” is the large number of 1 with 100 zeroes after it. For lenders, a billion is a large number, and it would be unheard of for a lender to save $1 billion in costs. But that is what Google’s parent Alphabet Inc. is saving, per year in costs, because employees are working from home, not traveling, not paying for company promotions, travel, or entertainment. (Wing is also a company owned by Alphabet, and is a drone company delivering Girl Scout Cookies to an area in Virginia.) While lenders are focused on the cost to manufacture a loan, and CEOs are busy educating their staffs about existing costs and reducing them, other people are… trying to sell an island in Florida at $3 million per bedroom? Hope your plumbing doesn’t back up, or that you forgot to buy basil for that pasta sauce you’re making tonight. Don’t forget t
MLO Jobs; Risk Reduction Products; Marketing, Workflow Tools; JP s Earnings, and the MBA s Take on 2020 s Profits Apr 14 2021, 8:08AM I wear a stethoscope so that in a medical emergency I can teach people a valuable lesson about assumptions.” People shouldn’t assume that all offices are made equal. People in our biz shouldn’t assume that “all lenders are the same.” Jim Cameron from the STRATMOR Group has noticed a difference between depository banks and independent mortgage banks. Namely, banks are not only awash in cash, which will help them with HELOCs and other portfolio products, but appear to have larger pipelines heading into this slowdown in volume/reduction in margin. IMB’s mindsets are on cutting overtime, watching expenses. One CEO even told me about a small “RIF” (reduction in force) for his company in the coming weeks. Even though the pandemic is still in the headlines, 2020 performance is in the rearview mirror, which may tu