Drafting Table News Today : Breaking News, Live Updates & Top Stories | Vimarsana

While we await the release of the changes in the official conforming loan limits later today (many lenders and MI companies went to $750k in October, the CLL will probably increase around 6 percent for 2024 to around $770,000, and to $1,155,000 for high cost areas), both vendors and lenders continue with changes, instituting workweek reductions, furloughs, pay cuts, and layoffs due to overcapacity… Much different than a couple years ago when those same companies couldn’t hire people fast enough. Things rarely stay the same forever, whether it is in mortgage banking, shipping, or ...

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...

For the second time within a week, FHA has released new draft reverse mortgage guidance to the online Single Family Drafting Table.

Do you use make up? Charles Revson of Revlon observed, back in the days when you could observe these things, "In the factory, we make cosmetics; in the store, we sell hope.” Informed mortgage people know that hope is not a strategy, and companies can’t hope that they’re never the victim of a hack. Here in the Dallas, Texas, area, headquarters of Mr. Cooper, the company was hit with a cyberattack forcing it to lock down its systems and impacting thousands and thousands of clients of hundreds of lenders whose clients rely on them. I don’t know if live-time cy...

As we move through September, the colors will start to change on the trees, the air starts to get a little crisp, and many people will look to get outside and celebrate Oktoberfest in metro Detroit.