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“Hey Chet, since you’re the new guy here with the park U.S. Geological Survey in Hawai’i, you’re going to be the one placing the live cam on the volcano for our YouTube feed. Splendid! We’ll be behind you all the way.” (Apply to mortgage banking however you see fit.) Scooting back to lending, I am occasionally asked about high balance conforming conventional loans, and why so much of the country doesn’t care about them (to be somewhat blunt). The MBA put out a fine map showing “high-cost areas” defined by the FHFA as “areas in which 115 percent of the local median home value exceeds the baseline conforming loan limit.” The loan limits are permitted to be higher than the baseline loan limit until a ceiling of 150 percent of the baseline limit is reached. That said, remember that 20-25 percent of the nation’s home loans come from California. (Today's podcast is brought to you by SimpleNexus, an nC ....
W.C. Fields said, “Money will not buy happiness, but it will let you be unhappy in nice places.” Unfortunately, many people have much less of it, and here’s a quiz to start the week. What are -68 percent, -66 percent, -60 percent, -40 percent, -13 percent, and -2 percent? They are all the stock performance since their initial public offering, or SPAC merger, of well-known companies in the residential mortgage business. And the numbers aren’t even the decline from their price highs, which would look much worse. In order of a hit taken: Home Point, loanDepot, Finance of America, United Wholesale, Rocket, and Guild. (Thank you to California’s Jeff B. for sending.) Every deal was different, but many analysts are questioning the franchise value of pure TPO (broker and ....
Sales, Tech, VOE Tools; Freddie and Fannie Changes Continue; Omicron and Mortgage Rates mortgagenewsdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgagenewsdaily.com Daily Mail and Mail on Sunday newspapers.