Page 4 - Broker Software News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Talk can be humorous. "That lowdown scoundrel deserves to be kicked to death by a jackass, and I'm just the one to do it." (Attributed to a congressional candidate in Texas.) Here in Dallas, mortgage talk is certainly wide-ranging and varied as there’s a lot going on out there as we head toward Thanksgiving week, including cost cutting, M&A, and Fair Lending. Today’s Rundown features Feliks Viner, VP of Capital Markets with First World Mortgage discussing rate volatility at 3PM ET. We have the Wall Street Journal story about the union between...

“Every disaster movie starts with the government ignoring a scientist.” Vendors and lenders can’t ignore red ink. Here in Kansas City, one of the discussion topics is how relationships are important during these days when the balance sheets of many lenders and vendors don’t look so great after, for many companies, several quarters of losses. How much pain do some owners want? Balance sheets were plump after 2020 and 2021, and warehouse banks and investor counterparties continue to do business with companies that are losing money based on those balance sheets along w...

Besides Janet Yellen’s In-N-Out foray, it is a rough environment out there: Hope you don’t want a Wells Fargo HELOC. Or just ask Citizens who is exiting the wholesale channel; More below on that. Many lenders are reporting unit volumes dropping by 50-70 percent, in part due to higher rates caused by inflation expectations. Buying stuff in the holidays will be more expensive this year, and here’s a personal tale of inflation. I happened to be near a See’s Candy store recently. Knowing that my daughter enjoys a treat from time to time, we went in and, without looking ...

This morning I head to Kansas, greeted by the news that Southwest is raising drink fees for the holidays. Has the “Let’s circle back after the holidays” season officially begun in your office or in your meetings with vendors? Chortles aside, one of the discussion topics in KC will certainly be the impending move in credit prices as lenders everywhere move toward charging borrowers up front. Whether the cost change is driven by Fair Isacc or the credit bureaus, and then being passed along by the CRAs, it doesn’t matter. It’s coming, and the jungle drums are sa...

Whether it is an obscure band or an eatery in San Diego, a well-known palindrome is “tacocat.” Huh? Yes, it’s the same spelled backward or forward. You hadn’t heard that one? How about this one: “Rob, have you heard that when Lender XYZ funds a loan, it is sold to an investor, and usually the servicing is sold to someone else, but then Lender XYZ and its LO quickly offer to refinance the loan when rates drop. At that point Lender XYZ makes its origination fee again, and the investor and servicer lose out.” Yes, it’s everywhere as originators and...