Page 4 - Lender Toolkit News Today

Want to really let someone know that you’re no longer interested in them? For $10 the San Antonio Zoo is offering a special Valentine’s Day greeting for exes who keep bugging you after you part ways: naming a cockroach after your not-so-special someone and feeding it to an animal. What about when a lender parts ways with a loan officer? Obviously a new company may not have the same product set, and good luck to LOs who rely on one product and then are cut loose, especially if it is...

The most dangerous statement in the English language is, “But we’ve always done it this way.” Referral business has always been a mainstay in our biz, and is not “against the law,” but oddly enough one topic that has come up a few times here in San Diego at the MBA’s conference is continued talk about MSAs, or Marketing Service Agreements. The CFPB spells out everything in its FAQ site. Attorney Brian Levy also discusses the topic in one of his Musings. ...

Carol K. writes, “Back in my day there was so much cheap toilet paper and eggs that we would throw them at the houses of our enemies.” And then there’s, “Money can't buy you happiness, but you can sure have a good time searching for it.” Speaking of a good time, are you single? Want to make $1,500? Shane Co. will pay you to go on 15 first dates. Search for dates at the grocery store, a dating app, whatever. Many lenders are searching for production, and...

“Senility has been a smooth transition for me.” So quipped an attendee here at the Michigan Mortgage Lenders Association conference in Grand Rapids. The aging mortgage banker workforce continues to be a concern around the nation, but there are certainly lenders and vendors attempting to “bring in new blood.” The FTC’s $62 million fine of Opendoor’s advertising policies raised eyebrows. We had the news of Two Harbors Investment Corp.’s Matrix Finan...

The AI-powered platform accelerates the underwriting process through its strategic mortgage automation capabilities....

Anyone born around this time is a Capricorn, and if you believe in horoscopes, they are the most patient and careful, and they are down-to-earth for everything. The broad stroke feature of them is adamancy: they tend to hold on to their own views and never give up before achieving the goal. I like to believe that the goal of nearly every lender is to do more volume in a compliant manner, and the volume part is going to become tougher. According to Curinos, December 2021 mortgage rate-lock volume...

Today, 20211202 (2nd December 2021), is a palindrome in the YYYYMMDD format. That aside, sorry the commentary is a little late this morning: I went out drinking after my yearly review with my cat Myrtle last night. It did not go well. By the way, she is the one that reviews my performance; I don’t review hers. Now I’m on some kind of quarterly evals going forward: my revenue barely covers her line-caught halibut expenses, and those expenses have been increasing. (Vers...

“Dear Santa: This year I would like a) a slim body, and b) a fat bank account. Don’t mix them up like you did last year.” Ah, if only we could turn back time. Better.com CEO Vishal Garg's apology letter to current employees has been leaked on Blind by a verified Better employee. (Blind is the anonymous professional social network where Garg accused some of the people he laid off of working "two hours a day.") Better.com certainl...

Huh? Someone told me that “reality” shows are all scripted out ahead of time and there’s a standard recipe! What the heck?! There are some things where recipes are expected, like making food. Popular Mechanics takes us inside the largest handmade candy factory in this interesting video. Hammond’s Candies has been making its world-famous confections in Denver, Colorado for 100 years. Their most famous product is oversized candy canes. If you...

No CEO wants to hear from their secretary, “The CFPB is holding for you on Line Two.” Lenders who have different prices in the same MSA? Don’t even try. Got a clever idea about net branches that aren’t net branches? Give it up. A point bank, labeled something else? Let me know how it goes with your state regulator out to make a name for themselves. Forbearance servicing is attracting attention, but loan officer pay is an ongoing &ld...