Jumbo Express News Today

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If you can't think of a word or phrase, say, "I forgot the English word for it." That way people will think you're bilingual instead of an idiot. It is not hard to remember the phrase, “Rates are going higher.” While independent mortgage banks continue to compete with the intermediate ARM offerings from depositories in the 3 percent range, and originators shift their sales techniques, on a larger scale the Federal Reserve acted yesterday confirming...

Recently in Reno I overheard someone predict, “Forget Wikipedia. How about someone create ‘Liquorpedia’ with an encyclopedia of alcohol and drink recipes?” Remember when many “experts” predicted that a) Amazon was going to enter the lending biz and trample everyone, and b) Costco, after announcing it was offering mortgages to members, was going to drive any remaining lenders out of business? Neither has happened, and in fact, Costco has ended its mortgag...

My friend David had his id stolen and now he’s just Dav. Having anything stolen is not a laughing matter, and since we’re in the money business, lenders and vendors are often the target of cyber-attacks. If you want the FBI’s take on them, the Texas MBA is hosting the “Anatomy of Cyber Attacks” webinar next Wednesday, April 13th. (More upcoming events below.) Some MLOs think that interest rates have stolen their livelihoods, but really, did you think 30-year mo...

While brokers have taken note of UWM suing America’s MoneyLine for sending loans to Rocket and Fairway (remember UWM’s policy plainly stated last March), this week I head to Florida, which retirees humorously refer to as “God’s waiting room.” The state has its share of expected hot markets for 2022 per Zillow, as does the rest of the Sunbelt. Apparently, people in the northern climes are weary of the yearly weather cycle, and, as usual, expect to establish resi...

MAXEX Exceeds $13 Billion in Non-Agency Lock Trading Volume By Staff 4 months ago Rapidly growing mortgage exchange more than doubles non-agency volume in first 11 calendar months of 2020 despite the ongoing COVID-19 pandemic ATLANTA–(BUSINESS WIRE)–$JPM#mortgage–MAXEX today announced that lock trading volume in non-agency mortgages on its digital exchange has exceeded $13 billion, more than double its total volume over the previous three years. MAXEX, which was launched in 2016, has be...