Page 11 - Broker Software News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Seen on someone’s laptop here in Phoenix: “If Pete Davidson can date a Kardashian, you can be a homeowner.” From a business viewpoint, if you think mortgages are bad, try NFTs. I don’t know what I was thinking, sinking my entire 401(k) into that sector a few years ago. My collection of fake, imaginary art is now worthless!? It’s good to keep things in perspective. If you think rates in the U.S. are too high, try being a lender in Pakistan (22 percent) or Turkey (benchmark rate at 25 percent.) Although buyers in the U.S. don’t have to contend with rates...

Today I head to Phoenix area for the AzAMP annual conference, and am reminded that, “Change is inevitable, except from a vending machine.” The mortgage industry is constantly changing, although Freddie and Fannie have been a somewhat stabilizing influence. But explaining to someone not in the mortgage business what they, the government sponsored enterprises (GSEs) do, is not easy, but in another one of his Mortgage Musings, attorney Brian Levy offers his thoughts on 15 years of being in conservatorship and whether that means it’s time to drop the “S” in GSE. ...

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...

Are you gradually eating dinner earlier? Join the trend. Want to know another trend that isn’t so benign? Along the lines of the STRATMOR piece below, I received this email over the weekend. “Rob, I’m a processor at a lender who was doing about $80 million a month in 2020 and 2021 but is now doing $15 million. We saved money during those years and retained servicing. But now we’ve eaten through our savings, sold all of our servicing, had some Agency buybacks, and are barely breaking even. We’ve moved to entirely best-efforts execution, outsourced as much as w...

Sometimes I send this Commentary out from some pretty nice places, sometimes not. Today comes from the tarmac at the Newark Airport, in Row 22, sitting next to some hairy guy who’s snoring and apparently went with the “Garlic Lover’s Pizza” last night. You can decide which category today fits in. “What do you call a small pepper in the autumn? A little chili.” Tomorrow is the fall equinox. Autumn? Autumnal? Different ways of saying similar things? Do you know the difference between a loan, a mortgage, a lien, a note, and a deed of trust? There are diff...