Page 2 - Mark Teteris News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Where should we start the week? How about how predictions and forecasts are nearly worthless when they’re out of date one week later? How about with an old-fashioned run on a bank, eliminating any talk of another Fed rate increase. People wonder, “Where do I bank? Is it big enough? Is there enough regulation?” Lenders are making sure that their warehouse funding is not only from one bank, since nothing will shut down a faster than lack of liquidity and inability to fund loans. With the demise of Silicon Valley Bank and Signature Bank (below, see government announcement fro...

As Brian B. reminds me, “In the New England you can tell the changing of the seasons by the changing color of the leaves. In Florida you can tell the changing of the seasons by the changing colors of the license plates.” Speaking of moves, geography, and distance, if you’re a lender or a vendor, how’s your 2023 travel and entertainment budget shaping up? I figured. The Mortgage Bankers Association believes (some say optimistically) that total mortgage origination volume will decline to $2.05 trillion in 2023 from the $2.26 trillion expected in 2022. The “pie&...

Sue W. writes, “After I say, ‘That’s crazy’ twice, please wrap up your story.” There are a lot of stories out there now as residential lenders tighten their belts, their payrolls, and their expenses in the face of rising rates, the worst inflation since 1981, and per loan costs of over $10,000. Hey, corporate has taken a hit, branches have taken a hit… is it time for LO comp to take one? Time will tell, but meanwhile ops staff are grappling with a number of issues. Along those lines, anyone trying to retrieve their collateral from the smoking ruins of ...

“I'm a multitasker. I can listen, ignore, and forget all at the same time!” We won’t, however, soon forget this part of the business cycle. “Rob, thank you for all your help placing ads for Ops staff for us. With the ‘Work from Home’ movement, and cutbacks, we don’t need all of this office furniture. Would you run an ad to sell it?” First off, I told the person that no, I wouldn’t. But more importantly, this well-known lender is experiencing what many lenders are, which is that cutting back can be just as difficult, if not ...

“Do you know that humans eat more bananas than monkeys? Think about it, when was the last time you ate a monkey?” Words and terms are important. At this point, any company not having layoffs, reductions in force, or “right-sizing” (such a PC term) makes news, not the organizations actually making cuts and changes. (In K-pop news, even BTS announced a “hiatus” to focus on solo careers after nearly 10 years together.) And lenders aren’t the only ones cutting back. Real estate firms Compass and Redfin (owner of Bay Equity Home Loans) are laying 6-1...