The word “eclipse” comes from a Greek word meaning “abandonment,” but in Texas, this week’s total solar eclipse has had the polar opposite effect. An estimated 4 million tourists are expected to have flocked to the Lone Star state to see the once-in-a-generation event, which starts in the Dallas area around 1:30 p.m. CT on […] The post Eclipse Fever Is Gripping Black Texans appeared first on Capital B News.
Life is a matter of perspective, and LOs and vendors don’t need some momentous weekly or monthly numbers to garner a piece of the $1.5-$2 trillion residential mortgage market. Even bikes see possible change. Many lenders and vendors are working to “make the ordinary extraordinary.” Are drug stores and gas stations boring? Not according to Wall Drug and Buc-ee’s. What is the current mortgage rate situation for borrowers who have home loans? Below 6 percent? 92 percent of U.S. mortgaged homeowners. Below 5 percent? 82 percent. Below 4 percent? 62 percent. Below 3 percent? 24 percent. Yet about 1/3 of applications coming into lenders, per the MBA, are refinances! (Today’s podcast can be found here and this week’s is brought to you LoanCare, successfully navigating clients and homeowners through market change for 40 years. The mortgage subservicer delivers superior customer experience through personalization and convenience via its portfolio management tool, LoanCare Analytics™, supporting MSR investors with a focus on customer engagement, liquidity, and credit risk.) Disaster News and Program Updates What would life be like in the United States without disasters? The U.S. is prone to tornadoes, earthquakes, flooding, hurricanes, storms, volcanoes, and fires. FEMA is the official source of disaster declarations and when FEMA publishes them, lender and investor policies and procedures are triggered. From hurricanes to forest fires, the environmental impacts of climate change are becoming more pressing with each passing year. 90 percent of natural disasters involve some degree of flooding. Flood damage has cost Americans over $50 billion throughout the last decade.