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Credit Verification, AMC, Lead Gen Tools; Advocacy; Comp Strategy on Brokered Loans; Marketing

As the Western Secondary winds up, and weary capital markets staff &amp; vendors head home from Orange County, perhaps humming “California Gurls,” working conditions and changes in the work environment are still a topic. For example, Goldman Sachs is making a concerted effort for its workforce to return to the office five days a week. I’ve concluded that I need a non-technical, high-paying, remote job that can be done with minimal effort. It turns out that there’s a term for it: “Lazy-girl job.” AEs and vendor sales staff have gradually returned to calling on offices and occasionally bringing those pink boxes filled with treats. While we wrap up with this state, pink boxes started appearing in Southern California courtesy of Cambodian refugee (and successful So-Cal donut shop owner) Ted Ngoy. Many other Cambodian and South Asian immigrants became donut shop owners after coming to the United States in the mid-1970s to escape the Khmer Ro ....

United States , Los Angeles , Orange County , Rob Chrisman , Jamey Lynch , Henri Pescarolo , Kevin Mcmahon , Ted Ngoy , Brittany Pettersen , Freddie Mac , Jerome Powell , Los Angeles Times , Broker Software , Contact Birchwood Credit Services , Default Servicing Forum On , Goldman Sachs , Buyer Booster Program , Group Compensation Connection , Fannie Mae , Consumer Financial Protection Bureau , Political Affairs , Computershare Loan Services , House Financial Services Committee Members , Mortgage Action Alliance , Western Secondary , Southern California ,

Pricing, Internal Audit, CRM, Home Insurance, Lead Generation Tools; Comp Survey; MBA's Cost Per Loan Stats

As numbers approaching a thousand head to Orange County, CA, for the California MBA’s Western Secondary, keeping an eye on the remnants of a hurricane, it is not an easy lending environment with mortgage rates at 20-year highs, firmly in the 7’s. Thomas Edison believed, "Vision without execution is hallucination." Many owners of lenders and vendors had very good vision and execution some years ago when creating their companies. But thinking that 2020 and 2021 would continue indefinitely would have been classified as a hallucination, and obviously things have become much more difficult with many wondering where things go from here. I don’t have a crystal ball, but a certain percentage of those owners who deferred being serious about exploring a sale, waiting, until after the cycle was obviously on the downside, they’ve perhaps undermined an opportunity for negotiating more favorable deal terms. It can be argued that the smarter entrepreneurs ....

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TPO Geocoding, Warehouse, Fee Collection Products; CoreLogic Wildfire Report; STRATMOR Compensation Survey

Time flies, and we’re more than halfway through the 3rd quarter. Few lenders and vendors look forward to heading into the autumn or winter of any year, and with the U.S. 10-year up to 4.30 percent, millions of borrowers content with low rates thanks to us, and with four consecutive negative prints in MBA mortgage applications, the demand for mortgages is now roughly 9 percent lower compared to the last positive print on July 14th. With mortgage rates hovering around 7.5 percent, we can all expect rate sensitive borrowers to continue to sit out. Lenders everywhere are grinding away at lowering their cost per loan. Of course, part of that is beating up on vendors when ordering, putting together bundling packages, looking at employee cost (more on that below) and manufacturing cost. Pricing exceptions are looked at dollar by dollar, which is often why Lender A doesn’t care much when a branch goes to Lender B when examining Lender A’s book of business showed unprofitab ....

United States , Vista Point , Phil Rasori , Las Vegas , Los Angeles , Justin Castillo , Chris Anderson , Kristin Messerli , Alexander Graham Bell , Freddie Mac , Eric Nelepovitz , Mike Fawaz , Broker Software , Atmospheric Administration National Centers For Environmental Information , National Sales , Axos Bank Wholesale Correspondent Lending Team , Mortgage Markets , Alliance Bank , Attendee Party , Loews Hotel , National Sept , Our Residential Warehouse Lending Team , National Oceanic , Group Compensation Connection , Market Committee , Mortgage Technology ,

Bi-Lingual, Subservicing, POS, Warehouse Products; STRATMOR Comp Survey; Freddie and Fannie Changes

I head to Colorado Springs this morning, the scene of $3,000 mountain bikes in bike racks on top of $500 cars. There are roughly 380 bank branches in the city, including mortgage lender NBH. On the flip side, do you work at a non-depository bank, like a mortgage bank or broker? You should know that the Treasury’s Financial Stability Oversight Council voted unanimously to issue (for public comment) new proposed interpretative guidance on the Council’s procedures for designating nonbank financial companies for Federal Reserve supervision and enhanced prudential standards to replace the Council’s existing guidance and describes the procedural steps the Council would take in considering whether to designate a nonbank financial company. This follows the Consumer Financial Protection Bureau's (CFPB) proposal to bring more nonbank financial companies under its direct supervision. (Today’s podcast can be found here and is sponsored by LoanCare, a Fidelity Na ....

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