Live Breaking News & Updates on Mike vough

Stay informed with the latest breaking news from Mike vough on our comprehensive webpage. Get up-to-the-minute updates on local events, politics, business, entertainment, and more. Our dedicated team of journalists delivers timely and reliable news, ensuring you're always in the know. Discover firsthand accounts, expert analysis, and exclusive interviews, all in one convenient destination. Don't miss a beat — visit our webpage for real-time breaking news in Mike vough and stay connected to the pulse of your community

MSR Execution, VOI, Post-Closing Audit, Client Acquisition Tools; May Training and Events

MSR Execution, VOI, Post-Closing Audit, Client Acquisition Tools; May Training and Events
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.

Silver-spruce , Colorado , United-states , Orange-county , California , Federal-building , Maryland , San-francisco , North-carolina , Atlantic-beach , Florida , Denver

LOS, Warehouse, Servicing Products; Freddie Mac and Trended Credit Data; STRATMOR on Younger Borrowers

Did someone say, “National Margarita Day”? (Splendid timing, especially as vendors and lenders contemplate a rate and volume environment that may not change much for months, and compensation &amp; personnel adjustments continue.) In 2023, the United States was the leading recipient of Mexico’s tequila exports, importing 84.8 million gallons of tequila from South of the Border. This has nothing to do with residential lending, other than plenty of folks in our biz enjoy a tasty margarita. While we’re on taste, the other day I mentioned a joke about vultures saying clowns taste funny which blog poster and attorney Brian Levy took as an invitation to “poke a little fun at this bear” in his most recent post. Levy’s most recent Mortgage Musings edition is titled, LO Comp, Bozo Buckets and “P&amp;L Branches” and offers a spirited and insightful discussion of a couple LO Comp related issues that have been in the news (including this daily commentary). (Found here, this week’s podcast is sponsored by Truv. Truv lets applicants verify income, employment, assets, insurance, and switch direct deposits. Unlock the power of open finance, with Truv. Today’s has an interview with PRMG’s Kevin Peranio and Truv’s Richard Grieser on verification across income, employment, assets, and insurance.) Lender and Broker Services, Products, and Software “As rates decreased in January, IMBs saw an increase in dwell-time and warehouse expenses. In January, dwell-time was up 3 days from the 15-day average. While rates are down for borrowers, overnight SOFR rates averaged 5.32 percent. With the additional 3 days of dwell, for the average IMB costs increased by nearly $70 per funded loan, a 170 percent increase from December. With full automation from funding of loans through Purchase Advice reconciliation and paydown activities, OptiFunder now offers the most comprehensive Warehouse Management System available, allowing originators to get loans from the primary to the secondary markets quickly and efficiently. Top IMB's are using funding automation to save time and capital. Meet with us at Lenders One Summit or at the ICE Experience to see how you can streamline funding through loan sale to lower dwell and warehouse expense. Sign up for our monthly newsletter for more warehouse trends.”

Texas , United-states , Mexico , California , Los-angeles , Chris-anderson , Mike-seminari , Jeff-casella , Mike-vough , Kevin-peranio , Jeff-mccarty , Chris-maloney

Hedging, Automation, HELOC, MERS Audit, LO Benchmarking Products; Training Opportunities

Whether it is an obscure band or an eatery in San Diego, a well-known palindrome is “tacocat.” Huh? Yes, it’s the same spelled backward or forward. You hadn’t heard that one? How about this one: “Rob, have you heard that when Lender XYZ funds a loan, it is sold to an investor, and usually the servicing is sold to someone else, but then Lender XYZ and its LO quickly offer to refinance the loan when rates drop. At that point Lender XYZ makes its origination fee again, and the investor and servicer lose out.” Yes, it’s everywhere as originators and lenders scramble for business. Current and previous clients are good sources, as other sources are tough to find: With the NAR verdict in Missouri being a sign of the times, where are LOs supposed to go for referral sources if not the buyer’s agent in the future? (Today’s podcast can be found here, sponsored by LoanCare, the mortgage subservicer known for delivering superior customer experience through personalization and convenience. Its award-winning portfolio management tool, LoanCare Analytics, supports MSR investors with a focus on customer engagement, liquidity, and credit risk. Hear an interview with Loanspark’s Michael Barnett on the commercial real estate space and why residential mortgage professionals should care about it.) Lender and Broker Software, Products, and Services Most schoolchildren learn about Laika, the first dog in space. But my cat Myrtle wants to share a lesser-known fact: in 1963, for the first (and only) time in history, a feline was launched into space. Like her fellow space program participants, Félicette was a trailblazer. Now, 60 years later, Dark Matter Technologies is invoking that same pioneering spirit in its quest to shape the future of lending under new leadership and new investments in its flagship Empower LOS. Learn more about Dark Matter’s bold new vision.

San-diego , California , United-states , Jordan , Michigan , Missouri , Californians , Julas-hollie , Freddie-mac , Kerry-webb , Mike-vough , Carl-wooloff

Hedging, Non-QM, Credit Verification, Digital Tools; Conventional/Conforming news; Fair Lending Interview

You should know that caffeine increases the power of aspirin and other painkillers, which is why it is found in some medicines. You should also know the “50-50-90 rule”, which definitely applies to me: Anytime you have a 50-50 chance of getting something right, there's a 90 percent probability you'll get it wrong. Cute sayings aside, one thing you don’t want to be wrong on is Fair Lending, and every lender, and their employees, should know the rules and regulations surrounding it, and know that its enforcement is a priority of the Consumer Finance Protection Bureau and is often mentioned in its Supervisory Highlights. In today’s “Mortgage Matters” presented by Lenders One (at 2PM ET, 11AM PT) attorney Brian Levy addresses Fair Lending, as well as the NAR verdict and other “hot” legal and compliance topics. Today’s podcast can be found here, and this week is sponsored by nCino makers of the nCino Mortgage Suite. With three products tailored to the needs of the modern mortgage lender, nCino Mortgage, nCino Incentive Compensation, and nCino Mortgage Analytics unite the people, systems, and stages of the mortgage process. Hear an interview with Argyle’s John Hardesty on recent integrations with Fannie Mae and ICE. Lender and Broker Software, Products, and Services The Loan Vision team is excited to attend the MBA’s Accounting and Financial Management Conference! Stop by table 2 in the Exhibit Hall to learn how companies that run Loan Vision show a 25 percent reduction in OPEX/time to close, a 20 percent reduction in overall accounting headcount, complete LOS to G/L automation, and improved reporting and visibility that allow for better business decisions. Be sure book time with Carl Wooloff here to get an early introduction to our newest product, that focuses on allowing our customers to be more profitable with less volume; LV-PAM, a modeling tool that provides actionable intelligence with consolidated loan data. Loan Vision’s innovation continues to provide you the “insights you need in the software you trust.”

New-york , United-states , Sam-shanaberger , Fannie-mae , Mike-vough , Jeff-schaefer , Steve-baselice , Carl-wooloff , Tom-coffey , Freddie-mac-fannie-mae , Argyle-john-hardesty , Consumer-finance-protection-bureau

Best-Ex, Outsourcing, LOS/Servicing, Portfolio, CRM, QC Products; Conventional Conforming News; 30-year Rates Hit 8 Percent

Unlike lenders who are dealing with 8 percent on rates sheets, sports fans and sports bars are reveling: NBA, MLB, NFL, NHL, all at the same time… And Philadelphia is in the thick of it. A lot of halftimes. Is our industry “down 20-0 at halftime?” Here are the thoughts of Fairway CEO Steve Jacobson on not giving up, having shots taken at you, and using the tools lenders and LOs have to keep helping their clients, including technology. The word “technology” was mentioned about 4,698 times this week at the conference in Philly. If you’re wondering what a great use for AI is, it is summed up in this two-panel cartoon. Gallus Insights CEO Augie Del Rio summed it up nicely. “A machine will always beat a person. A person with a machine will always beat a machine.” But one of the messages this week was how lenders are shedding, yes shedding, expensive unused technology in an effort to cut costs. It is easier said than done, but IT staff are hard at work evaluating usage and expenses across the industry. (Today’s podcast can be found here: Sponsored by nCino, maker of the nCino Mortgage Suite, built for the modern mortgage lender. The nCino Mortgage Suite unites the people, systems, and stages of the mortgage process. Hear an interview with Candor’s Tom Booker on AI developments in the underwriting space.) Lender and Broker Software, Products, and Services The Optimal Blue team can’t wait to head to New York Nov. 9 – 10 for the only event dedicated 100% to mortgage servicing rights. Don’t miss an opportunity to catch industry experts Mike Vough and Vimi Vasudeva as they speak on their passions at IMN’s 9th Annual Residential Mortgage Servicing Rights Forum. On Nov. 9, Mike’s session will explore the economics of retain vs. release decisioning in today’s market. Then on Nov. 10, Vimi will cover “Valuation, Modeling &amp; Risk Inputs: Volatility, Liquidity, Credit, Market, Duration &amp; Correlation.” Both sessions will offer valuable insight to support your business strategies. And as always, experts from Optimal Blue will be ready to answer questions and discuss your goals in the expo hall.

Philadelphia , Pennsylvania , United-states , New-york , American , Freddie-mac , Tom-booker , Phil-rasori , Paul-yarbrough , Hilda-melendez , Mike-vough , Richey-mayadvisory

Third-Party, Down Payment, Outsourcing Products, Freddie and Fannie Updates for Appraisals

It isn’t as if building or lending products, or ways of doing business, were handed down by Trappist monks. Change is always afoot, for better or worse. What is old is new again. Teachers are moving to oral exams to counteract AI and ChatGPT, similar to ancient Greek and Roman times. In the West and Southwest, adequate water rights and supplies have always been contentious but have resurfaced (get it?) with news that may impact other cities and towns: Arizona began limiting approvals for new developments within the Phoenix area. It’s hard to build large affordable housing developments or swaths of housing in general if there is no water. Or road or sewage capacity. For fans of tiny homes, what is old is new again, and the Sears catalog kit houses (sold between 1908 and 1942) of old are back at Home Depot: Here’s 837 square feet for $43,000, 540 square feet for $44,000, and 444 square feet for $32k. (Today’s podcast can be found here and this week’s is sponsored by Built Technologies. Join Built Technologies on June 20th at 12 PM CST for an exclusive webinar that will dive into proactive portfolio monitoring as Built’s experts share best practices for achieving greater visibility into your construction portfolio. Today’s includes an interview with American Land Title Association’s Elizabeth Blosser on non-title recorded agreements for personal service, NTRAPS.) Lender and Broker Products, Software, and Services Many historic events have happened on June 20, and counting. In 1837, Victoria was crowned Queen of England at the age of 18. In 1975, Steven Spielberg’s Jaws was released in theaters. And in 2023, three renowned thought leaders from Optimal Blue, a division of Black Knight, will share their knowledge at MBA Florida’s Eastern Secondary Conference. Don’t miss the opportunity to hear Mark Teteris, CMB, lead a panel discussion about a day in the life of a secondary manager. Then, Mike Vough will share his expertise during a session focused on hedge advisory firms and mortgage servicing rights. Finally, Steve Baselice will participate in a timely panel focused on hedging your pipeline in turbulent market conditions. Don’t miss these informative sessions while you’re in Orlando. It could be your chance to be part of history in the making!

Guam , Arizona , United-states , Greece , Phoenix , Orlando , Florida , Great-lakes , American , Greek , Jason-frazier , Eddie-fernandez

Black Knight : Mike Vough Selected as a 2023 HousingWire Rising Star for Next-Generation Technology Innovations for Hedging and Loan Trading

JACKSONVILLE, Fla. - June 1, 2023 - Mike Vough, vice president of hedging and loan trading products for Optimal Blue, a division of Black Knight, Inc. , has been chosen by HousingWire's... | June 1, 2023

Dallas , Texas , United-states , Kevin-mcmahon , Mike-vough , Sarah-wheeler , Knight-inc , Optimal-blue-secondary-services , Optimal-blue , Black-knight , Wire-editor-in-chief-sarah-wheeler , Whole-loan

QC, Marketing and Sales, Credit/Profitability Products; Tax and Credit Info for Disaster Areas

Things are always changing. No bagpipe player I saw growing up looked, or played, like this. The MBA’s forecast for 2023 volumes changed, and here’s the latest by the MBA on 2023’s originations: $1.8 trillion. Technology is always changing. No, this Commentary is not produced by ChatGPT, nor will it ever be, unlike lesser publications. But if you’re a teacher, like my daughter with her classroom full of 7th graders, or a professor, how do you know that the paper turned in by a student wasn’t produced by AI? (Speaking of which, thank you to everyone who wrote yesterday that egg-laying chickens were killed by the “flu” not “the flue”… I should have caught that.) Economic conditions are always changing as well, and yesterday’s Federal Reserve Open Market Committee change of 25 basis points higher for its targeted overnight Fed Funds rate (what banks charge one another for overnight deposits) certainly sent a statement: “Sure some banks had some issues and mismanagement that we are well aware of, but we don’t see a crisis, and we’ll continue with our match against inflation.” [Fed Funds chart.] (Today’s podcast can be found here and this week is sponsored by Black Knight, Inc. As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight, Inc. is transforming the mortgage industry through its best in class solutions. Hear an interview with Black Knight, Inc.’s Mike Vough on the current MSR market and the evolution of duration calculations and servicing valuations.)

New-york , United-states , California , San-antonio , Texas , Alabama , Georgia , Colorado , Hawaii , Americans , Ed-vaccaro , Trevor-gauthier

HELOC, Non-Agency, Valuation, Co-issue, DEI Hiring Products; Events and Training

Our industry continues to be battered. Starwood Capital-backed Reverse Mortgage Funding and its parent company Reverse Mortgage Investment Trust have filed for bankruptcy. Inlanta Mortgage told the state of Wisconsin it plans to wind down its business. Switching gears, to celebrate the first day of December, spend 5 minutes taking one of my favorite quizzes, focused on figuring out where you’re from based on the words you use for certain common things. (What do you call the little bug that rolls up into a ball when you touch it? Sneakers versus tennis shoes? Y’all versus you guys?) It’s uncanny! What isn’t uncanny are the number of predictions we’ve heard about a recession, many dating from nearly a year ago. Recessions generally mean lower rates. Bank of America CEO Brian Moynihan says that a "mild recession" is likely next year but that concerns about a more severe downturn appear to be abating, noting households have maintained strong financial footing. "At the end of the day, the consumer has held in well," Moynihan says. "The consumer has stayed reasonably strong because they're employed." And Brian, how ‘bout the almost $30 trillion in home equity out there? (Today’s podcast is available here and this week’s is sponsored by Candor Technology: Home of the One Touch Underwrite, supporting lenders from Point of Sale to Post Close QC, to reduce repurchase risk, increase underwriter productivity by 400 percent, and decrease turn-times by 10. Listen to an interview with MBA’s Marina Walsh highlighting MBA’s latest National Delinquency Survey, as well as additional research.)

Wisconsin , United-states , Michigan , America , Mike-vough , Erika-cox , Phil-rasori , Rob-chrisman , Justin-grant , Chris-bennett , Marina-walsh , Casey-cunningham

Independent Appraisal, Accounting, Sales Tools; Conventional News; PPI Drives Rates Lower

The other day I walked in on Myrtle who was looking at the litter cleaning robot on the screen as if to ask, “What’ll they think of next?” Businesses and arrangements are always coming and going. There’s a new in-house appraisal product, noted below. Who wants to go in with me on starting a 2nd home company with a common-sense name, nothing foreign sounding. “Let’s Split It.” (Tagline: “Your Perfect Vacation Home Awaits.”) Wouldn’t “I Gotta Guy” be a cool name for a business? And useful? Call the number, they hook you up with a plumber who shows up, or a gutter repair person who is competent, or whatever you need. New companies are out there. Ever heard of “Calque”? Me neither until Morgan C. from Highland Mortgage pointed out “The trade-in mortgage.” Freddie Mac announced its newly enhanced mortgage rate survey. Progress Residential, with over 85,000 single-family rental (SFR) homes, is now the largest SFR owner in the U.S., surpassing Invitation Homes. The company has been growing at a rapid rate, accompanied by criticism and protests from tenants and community organizations for unsafe practices and problems. Yes, institutional investors once again buying single family homes. Along these lines, here are some great landlord stats. (Today’s podcast is available here and this week’s is sponsored by MCT Investor Services, which helps investors scale their seller base, automate the bid process, source whole loan and flow co-issue production, automate AOTs, and analyze performance all in a cost-effective manner. Listen to an interview with SimpleNexus’ Andria Lightfoot and Marine Bank &amp; Trust’s Shaun Williams on executing a competitive mortgage strategy in today’s market.)

New-york , United-states , Philadelphia , Pennsylvania , Mike-vough , Freddie-mac , Alan-parris , Rob-chrisman , Maxwell-jim-smith , Simplenexu-andria-lightfoot , Peggy-rubadue , Rick-allen