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Company Sponsored Events, Compliance Products; Pool of Loans for Sale to CUs; CFPB and UDAAP

Walking around Memphis yesterday got me to thinking, “I wonder what the part of my brain that used to store people’s phone numbers is doing now.” Maybe being used to store cool ads like the one in the joke section below, or lyrics of old songs? Thank you to VanDyk Mortgage’s Steve Richman who reminded me of Mott The Hoople’s “All The way From Memphis.” In 1973, when that song was released, the Fed Funds rate hit a high of 11.22 percent. Inflation ...
United States Marin County Anthony Ianni Robert Groody Alex Kutsishin Laura Byrum

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 ove...
United States New Jersey District Of Columbia San Diego Capitol Hill Justin Demola

Lead Gen., Database, Tax Service, Non-Agency Products; Housing Starts and Building Permits Attract Attention

I received this from a loan officer in Michigan. “Forget the Serenity Prayer! Grant me coffee to change the things I can, and wine to accept those that I cannot.” There are tens of thousands of loan originators around the United States, primarily changing things for the better for their clients but recently some of them were caught taking a fraudulent continuing education class. Unrelatedly, one (former) Ohio Mayor claimed that ice fishing can lead to prostitution. Attorney Brian L...
United States Kelly Hebert Greg Richardson Sean Wilson Simplenexu Bryan Manwaring Cleveland Mester

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Hedge Cost, QC, Compliance Tools; Investor FHA Changes; Upcoming In-person Events

Andy Rooney died over ten years ago. Many will say that Bill Mahr has taken his place, albeit with saltier language and a political bent. In this piece, Mahr discusses his thoughts on young people in “Gen Z” and “van life” which I found humorous. It reminds us that we are made up of different generations, and given the snow hitting much of the U.S. it isn’t only your parents that walked through the snow uphill both ways to school. The U.S. Census Bureau has not...
New York United States San Diego Freddie Mac Samantha Wikoff Andy Rooney

Webinars Today; Training, Automation, Broker Tools; Write Up on MLO Purchase Focus

While there’s plenty of chatter out there about the return of Better.com’s CEO to its helm, and its interesting business model how LOs are supposedly not paid for closed loans but for how many they lock, I could tell that my cat Myrtle was miffed a few days ago. And I knew why: She figured out that I was not going to spend several hundred dollars to nominate her for some forgettable award. Now that a new year has begun, offers to nominate employees and producers are everywhere, and...
King Of Prussia United States Tony Thompson Courtney Thompson Chris Garagusi Trevor Gauthier

TPO, Fraud, LOS, Vendor Mgt. Tools; Housing and Inflation; Stearns' Business Shut Down

2022 is already off to an “interesting” start. Going directly to the borrower , normally the role of brokers, lenders, MI companies, and other mortgage education sources, Fannie Mae announced that it has launched HomeView™, the company’s new free online homeownership education course, “to help consumers navigate the mortgage and homebuying process confidently and responsibly.” Covid-19 and its variants have already created an uneven approach to business...
United States Jayme Dungan Brian Hurd Anjelica Nixt Victor Ciardelli Kim Bavcevic

Processing, Speakers Bureau, Marketing, Subservicing Products; Conventional Conforming Changes; Rocket's Acquisition

If you are a VA lender, or service servicemembers’ loans, you don’t want to be singled out by the Department of Justice or the CFPB. And the two of them sent out letters yesterday with one of the letters specifically addressing mortgage servicers regarding military borrowers who have already exited or will be exiting COVID-19 mortgage forbearance programs. How ‘bout adding a Twinkie as a stocking stuffer this year? The rise and fall of Twinkies is an int...
United States Freddie Mac Adam Pollitzer Ravi Mallela Ltvs Cltvs Lindsey Johnson

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