Page 29 - Broker Software News Today : Breaking News, Live Updates & Top Stories | Vimarsana

As Wells Fargo was smacked upside the head with a $3.7 billion fine by the CFPB, sports news included Mat Ishbia and the Phoenix Suns, and the Senate passed the Improving Access to the VA Home Loan Benefit Act of 2022, and the Federal Housing Finance Agency (FHFA) Office of Inspector General released a report with a really long name because that is what bureaucrats do (FHFA Could Further Combat Appraisal Bias by Ensuring That Complaints Are Filed with State Authorities and Ensuring the Enterprises Use Appraisals That Comply with Federal Law), the industry is grappling with continued higher rat...

Takeover and M&A rumors continue to swirl, and smarter companies are merely hiring production staff away from lenders rather than pay the baggage that may be associated with the target while some are selling servicing to help strategically or with cash flow. The MBA reports that our biz originated $4.1 trillion in 2020 and $4.4 trillion in 2021. 2022 is down from those numbers, and 2023 is expected to be $1.5-$2ish trillion, depending on who you ask, certainly less than half of 2021. It impacts everyone, but certainly with credit fees shooting up, credit reporting agencies (CRAs) a...

Happy Hanukkah (or Chanukah), which began yesterday. Others are looking ahead to Christmas, with some companies closed Friday the 23rd and some closed Monday the 26th. (The Federal Reserve and the stock market are closed Monday the 26th and then Monday the 2nd.) I am in Chicago where the weather could be termed as “brisk.” There’s a different term that the residents of Fairbanks, Alaska, and my Navy vet father, for that matter, would use to describe their weather, expected to have a high of -35 degrees F today! (To be blunt, which I can be since I’m not reporting to...

This morning I Head East to Chicago for a handful of days. If you’ve wondered what a pilot sees when landing at O’Hare, here’s a mesmerizing video. (What is the tallest building in Chicago? The library, because it has so many stories.) From coast to coast lenders and vendors are eyeing the MBA’s volume predictions for 2023 and stay ahead by reducing overhead. In the furor over cutting costs, a cottage industry has sprung up helping lenders review their vendor arrangements. Given that product, price, and service are what vendors sell, products and service are usually...

Anyone who has ever gone swimming in the ocean knows that, in a violent surf, the swimmer can’t spend time and energy in the waves near the shore being knocked about. They either swim out beyond them, or swim into the beach. Using that analogy, think about lenders and vendors in the current environment. Having “no plan” is not a plan. Best to go one way or the other, because staying in the surf can be exhausting. (It will be a topic of today’s chat between the MBA’s fabled chief economist Mike Fratantoni and me at 11AM PT.) Meanwhile, capital markets departme...