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Borrowers will bear the brunt of this, but rumors from several sources have Fair Isaac planning on giving most residential lenders an early Christmas “present,” effective 12/26, of higher fees for mortgage work incorporated into a new tier system. (Talk to your credit reporting agency or provider for details and tiering.) I heard a dealer in a Reno casino say that no one gets ruined by losing, they get ruined by trying to win back the money they lost. How hard is it to get back a lost client? People ask me why I send the commentary out six days a week. Hey, if I can help one MLO ...

With inflation likely causing the Fed to keep hiking rates aggressively (more on that in the Capital Markets section at the bottom), many people in our industry are asking how high mortgage rates can go. The talk in the bond markets today is perhaps a 100-basis point increase in the fed funds rate next week and the funds rate getting to above 4.25 percent by the first quarter of next year as a current rate around 2.5 percent and inflation around 8 percent still puts the Fed way behind the eight ball. The 10-year Treasury yield is 3.45 percent this morning and 30-year fixed mortgage rate is abo...

Yesterday in Ft. Wayne, Indiana, at the Indiana Mortgage Bankers Association’s annual conference, one of the non-mortgage conversations that I had was about TV. (Sometimes people talk about shows they’re “streaming.”) I don’t know what’s what: Hulu, Paramount, Paramount+, Dish, Amazon Prime, Disney, Disney Plus, Charter, Verizon, Comcast, You Tube TV, Peacock… can’t we just go back to cable? Maybe not: The number of Americans opting out of cable accelerated in the first quarter of 2022. In 2019 and 2020, a net of 1.1 million subscrib...