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The release yesterday of FHFA’s report on Agency Guarantee Fees prompted some of the discussion here in Kansas City among mortgage folks about how challenging things have become, especially with rates and pricing. Sure, there are opportunities, but things are tough. Do you think your job is tough? How about this reporter’s? Do you think you’re good at your job, finding borrowers, processing loans, drawing docs, selling the loans, whatever? Really good? This video speaks volumes about someone who is really, really good at their job. Despite millions of millennials still needing affordable housing, many builders think things are tough. The NAHB Housing Market Index hit 33 in November. What does that mean? Builder confidence in the market for newly built single-family homes posted its 11th straight monthly decline in November, dropping five points to 33, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released yeste ....
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Subservicing, Convenience Fee Compliance, VOE, POS Products; Non-Agency/Non-QM News mortgagenewsdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgagenewsdaily.com Daily Mail and Mail on Sunday newspapers.
Overheard in the hallway: “My email got hacked again. That’s now the third time I’ve had to rename the cat.” But there’s a lot of other conversation and session topics here in the hallways at the IMB in Nashville. Discussion about the rapidity of the Federal Reserve’s moves in attempting to combat inflation, and how might those moves actually eventually push rates back down if they dampen the economy. How volume and margin projections for 2022 are changing the minds of lenders, potentially turning them into sellers. The impact of Experian Go: a free, first-of-its-kind program designed to help credit invisibles begin building credit on their own terms. The continuing shift by employees, and the mangers managing them, in hybrid work-from-home arrangements. Trends in signing and retention bonuses. (The STRATMOR Group has a compensation survey, as does the MBA’s Compensation Survey.) Conventional servicing multiples up to 5x1! Conventional f ....
As I head to Orlando this morning for business meetings, much of the concern is about Treasury yields, with mortgage rates tagging along, climbing to a two-year high. Loan officers and lenders can’t do anything about rates or the market’s servicing values, but they certainly can do something about technology and cost savings. (Speaking of savings, a friend of mine was fond of saying, “’Free’ is a good price, and you and me and other taxpayers are footing the bill for free COVID tests; all you have to do is ask.) During a recent STRATMOR workshop session, I heard Partner Jim Cameron state, “Outsourcing is the gateway drug to automation.” Every 18 or so months, computer processing speed doubles, an observation known as Moore's law. A complaint that I hear from lender CEOs and owners is that AEs and LOs don’t even know what technology is available to them. “Educate yourselves on what’s available and then we&#x ....