Points. We thought it would be a huge bounceback day, it might be, you never know but another point as the intraday of the dow we actually went negative. Were back up 120. Up and down we go. Deirdre bolton trying to keep track of it all. Joins us from the new york stock exchange. Like im on a ham sister wheel, connell. We had 950 point gain. When Vp Mike Pence said essentially every american will be covered for coronavirus testing. You saw, that, that is where viewers can see a little bit after green, kind of blip up on the dow. Were still nowhere near where we were at the highs of the session. Let me tell you what is moving markets at least by group. The groups that are supporting whatever rallies you are seeing. You have info tech. You have Financial Companies and industrials. Now on the other side with really weighing on the market, utilities, Consumer Staples and energy which is a little bit interesting, because out of the gate this morning, connell, energy, they were the superstar
Will other mortgage warehouse lenders follow NYCB in pullback?
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How interest rate changes have affected the servicing rights market
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“What do hospital gowns and insurance policies have in common? You’re never covered as much as you think you are.” Although loan officers are not insurance experts, they are seeing the escalating cost of homeowner’s insurance impact affordability. (Last Friday’s TMC show focused on why insurance costs are rising.) Insuring homes is not the only issue, however. The average bill for the repair of an American vehicle is $4,437, and for an electric vehicle that is up to $6,618, about 49 percent higher. Collision insurance claims have increased 64 percent between 2018 and 2022, fueled by increasingly sophisticated cars and more complicated things that need to get fixed when they get broken. No longer are we just hammering out dents, but rather we’re taking computers out of the car and fixing it. Insurance costs may be on the agenda (the why’s mortgage rates certainly will be) when the California Association of Mortgage Professionals (CAMP) pr
As attendees head home from the MBA’s IMB in New Orleans, plenty will be eating airplane chow. Maybe you should buy vittles on the ground instead. Given the breezy weather in New Orleans, leather jackets are out in force. Those in attendance are talking about several good things that happened in 2023, impacting mortgage rates and lenders. Inflation has come down, hourly wages outpaced inflation the last seven months of the year, we didn’t have a recession or a banking crisis that some “experts” expected. In fact, the S&P 500 was up 23 percent, and the economy grew a decent 2.6 percent. Credit costs and trigger leads are a big item; today’s L1 Mortgage Matters session at 2PM ET features John Fleming, of John Fleming Law and the Texas MBA, and a good update on the trigger lead situation. Basel III is a concern; as MBA President Bob Broeksmit points out, no bank has ever failed due to servicing requirements, and we should guard against non-se