Page 6 - Rocket Pro News Today

Competition is the mainstay of many businesses and individuals. How does UPS compete to hire drivers for their trucks? One way might be to offer air conditioning, which has been negotiated for the first time. Lenders and vendors are led by competitive people, and several own interests in major or minor league sports franchises, the latest being Stan Middleman & the Phillies. Competition in the food and beverage industry? SF’s Anchor Steam was scaling back, Tupperware is in rou...

Adrie Burks recently celebrated her 10th anniversary at Peoples Bank.

There’s a lot going on, and not only jawboning about a potential Fed rate increase next week. We have the smoke drifting down from Canada and slowing or stopping flights in the Northeast. The Wall Street Journal reports that China and Cuba have signed an agreement for a Chinese eavesdropping station in Cuba. For rate watchers, Trepp has come out with a report showing interest rates sensitivity with commercial loans, cousin to our residential loans and their sensitivity to refinancing give...

Rocket Mortgage is looking to hire local loan officers at a time when the industry remains heavily reliant on the purchase market.

While lenders are grappling with steadily increasing Agency repurchase requests, it’s National Donut Day! Someone had better offer those folks at State Farm Insurance a donut… maybe they’ll change their mind about cutting off insuring properties in California. Three thousand miles away, I wonder if Florida home owners should be happy of even having insurance despite it being four times cost of the national average. And good luck insuring anything built near the coast prior t...

People in the industry use the terms interchangeably, but Washington State is warning brokers that they are not the same and other regulators could follow.

Did you know that wheat futures prices are at a 2-year low? And lumber prices continue to drop? Those numbers should help reduce inflation. During the conference in NY there was plenty of talk about external influences such as price increases on residential lending. But there are also plenty of issues within our biz that face lenders daily. For example, signing bonuses continue, albeit at a slower rate. Perhaps some of the economic bloom is off the bonus rose? Big signing bonuses come with big h...

My notes from the MBA’s conference this week continue, including talk about new home sales being +4.1 percent for the month (+11 percent year over year, bringing a smile to builders everywhere). Although most of the focus of the conference was on the secondary markets (although let’s face it, there isn’t a plethora of new investors or products), the primary markets continue to be a discussion topic. Some lenders have seen LOs move into the broker world, some have s...

For me, yesterday involved a trip from Connecticut to Northern California, with talk of a lack of inventory, relatively high mortgage rates, and loan level price adjustments still echoing in my head from the CMBA conference. There isn’t much one can do about rates or homes for sale, but one can always let the FHFA know what you think about pricing. Meanwhile, lenders are doing what they can to help borrowers. Credit unions, for example, are being creative. Last year, per Zillow, about 45 ...

Financial report details challenges through 2022