“My dog is really worried about the rising price of groceries, with a can of dog food now costing $3. That’s $21 in dog money.” As I travel and speak with originators, besides the regulatory environment being a concern (the latest example being the CFPB suing Freedom Mortgage yesterday), the cost to produce a loan is still a problem, and for some it is about to worsen. The last MBA’s study calculated that total loan production expenses (commissions, compensation, occupancy, equipment, and other production expenses and corporate allocations) were $11k per loan in the second quarter. Talk of another round of credit cost changes swirl, good and bad, similar to the end of last year, prompted by Fair Issac and rippling through the bureaus and CRAs. (Any questions should be addressed to your credit provider.) (Today’s podcast can be found here. This week’s is sponsored by NotaryCam, your partner for The Perfect Close! Ease of use, additional closing compliance, better borrower experience, reduced timelines, and cost savings, what is stopping you from getting on the RON train with NotaryCam? Listen to an interview with Servbank’s Johnny Spagnola on the steps companies can take to the improve customer experience.) Lender and Broker Software, Products, and Services Just as the caterpillar emerges from its cocoon with the ability to soar, SimpleNexus has rebranded as the nCino Mortgage Suite and is ready to reach new heights. Since being brought under the nCino umbrella in January 2022, SimpleNexus has been infused with additional resources that allow it to push boundaries and set the bar for what mortgage technology should be. Join us for a special Town Hall at MBA Annual, where nCino’s Matt Hansen and Ben Miller will share exciting plans for nCino's Mortgage Suite on Tues., 10/17, from 4-4:30 pm. Click here to save your seat or stop by our booth during Expo hours.