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Pricing, POS, Broker to banker, Cybersecurity Tools; STRATMOR/Teraverde Deal Inked

Attendees of next week’s MBA Secondary conference can look forward to… A giant hot dog in Times Square that spits out confetti at high noon. (Keep your risqué comments to yourself please.) They can obviously look forward to much more at the actual conference, including information about the economy, regulators, and seeing what the Agencies and aggregators are up to in terms of products. Every client is important, and originators want a full product suite from their companies and vendors. (The current STRATMOR blog is titled, “Down Payment Assistance Programs Helpful But Not a Universal Remedy.”) For good news, homeowner equity has hit almost $17 trillion, as values in March hit a historic all-time high according to a report from Intercontinental Exchange. But looking at units this year (a better measure than the estimated $1.5-2 trillion) the MBA expects the lowest production in decades. If recent conferences are any indication, look forward to atte

Click n Close announced it has expanded its suite of down payment assistance (DPA) loan products

Click n Close announced it has expanded its suite of down payment assistance (DPA) loan products
massachusettsnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from massachusettsnewswire.com Daily Mail and Mail on Sunday newspapers.

DPA, Servicing Oversight, Relationship Mgt , Change Mgt Products; TPO and Broker News

Remember when lenders were fretting about Amazon rolling out a major home loan program? The new acronym that the mortgage industry was about to start using was “WACD” (What Amazon Can’t Do). We reminded ourselves that Amazon couldn’t do is to deliver high value and personalized service and build relationships that last a lifetime. Play to your strengths! One strength is keeping up with what is going on, especially in the regulatory world. Today’s L1 show at 2PM ET features Kathy Kraninger, former director of the Consumer Financial Protection Bureau from 2018 to 2021, now CEO of the Florida Bankers Association, with a “behind the scenes” look at being the CFPB director and setting clear “rules of the road.” Next week Rich Swerbinsky returns to the airwaves on Thursday the 18th at 3PM ET, interviewing the CFPB’s Mark McArdle on what the big misconceptions about the CFPB are, and where its focus is currently. (Found her

Data Mining, Digital Lending, Real Estate Database, Servicing Products; Conventional Conforming Program Shifts

As if lenders and vendors don’t have enough other stuff to worry about, the budgetary standoff in the U.S. doesn't look like it will abate soon, raising the likelihood of the first government shutdown since 2019. Current funding for federal operations will end on October 1 unless a deal is reached or the proverbial can kicked down the road. Thousands of federal workers might be furloughed without pay. Sure it will be temporary, and its wider impact will likely be limited, but still even talking about it is lousy. According to Morgan Stanley, the last 20 government shutdowns that occurred since 1976 "appear to have had limited impact on the economy." As for bond prices, a shutdown may cause some "temporary instability", but this is not a given. There is talk of a short-term Continuing Resolution (CR) providing funding until later this year, but federal agencies, including HUD and Treasury, will cease to function normally. The National F

Productivity, Automation, Data Tracking; HELOC Servicing Products; Freddie and Fannie News; Interview on Yield Curve Inversion

Today's Fed meeting announcement is the last one until September 20. Mortgage rates, of course, are prone to moving around even without the Fed’s direction. Meanwhile, the second quarter earnings from lenders are of great interest to warehouse banks and investors (including Freddie Mac and Fannie Mae). Those counterparties are contractually limited as to what they can do with companies that are not making money and have seen their net worth erode over the months and quarters. There is continued talk of over-capacity as companies eye the end of summer, continued high rates, existing borrowers with low rates, and limited houses for sale. (Anyone displaced can post their resume for free here where, for $75, employers can view them for several months.) There is no disagreement about it being a difficult environment for most lenders, unlike there being disagreement over housing prices. Who you gonna believe? The FHFA House Price Index rose 0.7 percent MoM: U.S. house prices r

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