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New mortgage option offers 'buy before you sell'

Program lets homeowners secure a new home before selling their current one

Keith-webster , Michael-bremer , Mortgage-group , Loan-store-buy-before-you-sell , Trade-in-mortgage , Loan-store , Buy-before-you-sell- , Apex-mortgage , Apex-mortgage-group , Alque , Rade-in-mortgage ,

Broker Action Coalition unveils inaugural board, leadership councils

Move signals launch of its independent nonprofit operations

Brian-vieaux , Daniel-iskander , Eddy-perez , Elena-boland , Chris-vinson , Sam-parker , Amorette-hernandez , Brendan-mckay , Kevin-peranio , Whitley-cooper , Jerry-robinson , Joseph-dionne

Broker Action Coalition Unveils Inaugural Board Of Directors

Broker Action Coalition Unveils Inaugural Board Of Directors
nationalmortgageprofessional.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgageprofessional.com Daily Mail and Mail on Sunday newspapers.

Eddy-perez , Katie-sweeney , Daniel-iskander , Sam-parker , Amorette-hernandez , Joseph-dionne , Chris-vinson , Brendan-mckay , Whitley-cooper , Jerry-robinson , Brian-vieaux , Elena-boland

Wholesale, HELOC, Marketing Products; STRATMOR on Customer Experience; More Strong Data Driving Rates

It was a sad day earlier this week for anyone who likes food out of a toaster as the inventor of Pop-Tarts passed away at age 96. (Yes, Pop-Tarts were invented… they don’t grow naturally in the wild.) Something else that isn’t found naturally is airline seat pricing. We’re in mid-February, and conference activity will increase, and families will start thinking about summer vacations. That often means flights. Prices do go up significantly 21, 14, and seven days before a flight, so keep that in mind. (For anyone who is genuinely interested, here’s an easy to read scholarly article on the awkward way in which airlines set seat prices.) And while we’re talking about dollars, recent Commentaries have mentioned the shift in regional manager’s pay to more profit-based rather than strictly volume, as well as how it is illegal to pay LOs on profits under TILA’s LO Comp Rule. Addressing management pay, attorney Steve Lovejoy with Shumaker Williams pointed out that, “If the branch manager is a producing manager, meaning he/she originates, or so much as talks to consumers, their compensation cannot be based on profitability of a loan, the branch or the company.” (Today’s Commentary podcast can be found here and this week’s is sponsored by Lender Toolkit and its AI-powered AI Underwriter and Prism borrower income automation tools. By providing lightning-fast underwriting decisions, your market reputation with borrowers and Realtors will soar, which means more repeat and referral business. Hear an interview with Figure’s Anthony Stratis on trends in home buying and the HELOC space.)

Michigan , United-states , Idaho , San-francisco , California , Indiana , Oklahoma , American , Rob-wilson , Eric-nelepovitz , Richard-grieser , Ron-berry

Recruiting Service; Fulfillment, Wholesale, 2nds, Warehouse, Automation Tools; FHA and USDA News

“If I had a dollar for every girl that found me unattractive, they would eventually find me attractive.” New York Community Bancorp, buyer of Flagstar (2022) and Signature Bank (2023), wishes it had a few more dollars: it announced a shock earnings release and 70 percent dividend cut in response to a steep increase in credit provisions. Its share price has plummeted over the past week out of fear that round two of the banking crisis from last year might be approaching. Yes, NYCB owns Flagstar Bank, a long-time staple in the residential lending biz. NYCB added to reserves and cut its dividend as assets crossed the $100B threshold, while commercial real estate concerns compounded investor worries. Investors, analysts, and the rating agencies will be piling on. Today’s Commentary podcast can be found here and this week’s is sponsored by Vesta, the new, modern Loan Origination System (LOS) which helps lenders reduce their costs to originate and improve their ability to integrate with new technologies in the ecosystem. Hear part one of an interview with Curinos’ John Sayre on Q4 origination trends and statistics. Lender and Broker Software, Products, and Services “This February, your automation strategy needs love too. If you’re looking to problem-solve disjointed underwriting processes, we have the perfect resource for you. Tune into ICE Mortgage Technology's recent webinar to hear new perspectives from some of the industry's top automation experts that will inspire you to turn ideas into actionable plans. Watch now for their top tips on leveraging automated underwriting, including where to start, what to prioritize and how to gain buy-in with your team.”

United-states , Americans , Joel-harward , Nick-pabarcus , Dave-weatherford , Terry-mitchell , Mike-gill , Curino-john-sayre , David-smith , Ed-darrow , Jeff-mason , Eric-nelepovitz

Point of Sale, LO AI Tool, Underwriting, Servicing, DPA Products; Upcoming Training

“What do hospital gowns and insurance policies have in common? You’re never covered as much as you think you are.” Although loan officers are not insurance experts, they are seeing the escalating cost of homeowner’s insurance impact affordability. (Last Friday’s TMC show focused on why insurance costs are rising.) Insuring homes is not the only issue, however. The average bill for the repair of an American vehicle is $4,437, and for an electric vehicle that is up to $6,618, about 49 percent higher. Collision insurance claims have increased 64 percent between 2018 and 2022, fueled by increasingly sophisticated cars and more complicated things that need to get fixed when they get broken. No longer are we just hammering out dents, but rather we’re taking computers out of the car and fixing it. Insurance costs may be on the agenda (the why’s mortgage rates certainly will be) when the California Association of Mortgage Professionals (CAMP) presents the 2024 Economic Forecast today with Dr. Michael Frantanoni and yours truly at 1PM ET/10AM PT. (Today’s Commentary podcast can be found here and this week’s is sponsored by Calque. With The Trade-In Mortgage powered by Calque, lenders help their clients negotiate a lower purchase price, reduce their interest payments, and eliminate PMI. Hear an interview with Polly’s Troy Coggiola on the evolving capital markets landscape and his new role at the company.) Lender and Broker Software, Products, and Services

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Phil Shoemaker: Building a startup mortgage bank

The Loan Store CEO Phil Shoemaker on the customer experience, keeping a growth mindset when scaling, and what he thinks is in store for 2024.

Clayton-collins , Power-house-podcast , Phil-shoemaker , Loan-store , Caliber-home-loans ,

The 2024 mortgage M&A playbook

HousingWire tracked 62 mergers, acquisitions, exits and bankruptcies covered by the newsroom in 2023. Analysts foresee more next year.

Connecticut , United-states , California , New-york , Illinois , Joseph-kyle , Terry-schmidt , John-bosley , Warren-kornfeld , Platinum-home-mortgage-corporation , Guild-mortgage , Guild-schmidt

CIBC FirstCaribbean named Bank of the Year - Jamaica Observer

CIBC FirstCaribbean has been named Bank of the Year by The Banker, the international financial affairs publication owned by The Financial Times Limited.

The award was presented on November 30, 20...

Jamaica , London , City-of , United-kingdom , Nigel-holness , Banker-bank , Financial-times , Year-awards , Loan-store ,

Broker and Correspondent Products, Tax, Lead-Gen, Fee Collection, Pre-Qual Tools; Economist Interview; Early Payoff Fears

Yesterday I was driving across Northern California to the coast (Gualala), and in Sacramento I asked the McDonald’s drive-through clerk (hey, only the best for me!) why the medium French fries were 30 cents more than the double cheeseburger ($4.29 versus $3.99). She immediately launched into an explanation of farming inequalities and Keynesian economics, and how aggregate demand does not necessarily equal the productive capacity of the economy. I shot back with, “Whoa, sister, where’s my extra catsup packet?” Okay, that exact exchange didn’t take place, but it did remind me of supply and demand, and mortgage rates, and there is an explanation of the current forces is in the capital markets section. There are a myriad of other things that CEO and owners are watching, many of which will be discussed today at 11AM PT during the Mortgage Matters podcast (register here) when Mark Jones, President of Union Home Mortgage and Chairman of the MBA, is the guest. (Today’s podcast can be found here, and this week’s is sponsored by nCino, makers of the nCino Mortgage Suite for the modern mortgage lender. nCino Mortgage Suite's three core products, nCino Mortgage, nCino Incentive Compensation, and nCino Mortgage Analytics, unite the people, systems, and stages of the mortgage process. Hear an interview with CoreLogic Chief Economist Selma Hepp on the latest Home Price Index and trends in housing markets across the nation.) Lender and Broker Products, and Services

China , Gualala , California , United-states , Sacramento , Todd-bookspan , Mark-jones , Freddie-mac , Jeff-schaefer , Kristin-messerli , Selma-hepp , Dave-savage