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Recruiting, Loan Trading, TPO, Compliance Tools; FHA and USDA News; Fed Cuts Wanted, but Not Needed?

Recruiting, Loan Trading, TPO, Compliance Tools; FHA and USDA News; Fed Cuts Wanted, but Not Needed?
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United statesRex hagoodBrad eskridgeFreddie macAngela lewisSerena williamsMike meyersMatt mcguinnTom carrollMarcus korthSeth fassKurt mclaughlinCassie quinn meadMike antrimRoger quandtFobby naghmi

Lead Source, Sales, Home Equity, Lien Release Products; FHA, VA, USDA, HUD News; Sterling and the DOJ

“Once you lick the frosting off of a cupcake, it becomes a muffin. And muffins are healthy. You’re welcome.” Adding another expense to a transaction is certainly not welcome, yet that’s exactly what was voted into effect by residents of Los Angeles County in November. When you sell a house, paying a 5-6 percent commission to the real estate agent is typical. In LA there’s another 5 percent tax on top of that for high-priced houses to help fund affordable housing. Apparently home sellers in Los Angeles are slashing prices and sweetening deals before a new “mansion tax” goes into effect on April 1. The effect on supply and demand and pricing will be interesting, especially how it impacts the volume of sales. Along those lines, don’t pad your volume numbers, especially if you’re about to go public, otherwise the Department of Justice may come knocking like it did with Sterling Bancorp. (And don’t discriminate. In this e

Sheshank shekharLos angelesMatt matsudaKevin quinnGibran nicholasAshley terrellAndy waldenBill withersMark leslieJoe weluDan catinellaFamily housing guaranteed loan programMortgage agencyJustin clark at westlake origination centerMarket committeeLexisnexis risk solutions kevin king

Audit, Non-QM, DPA Products; FHA, VA News; Apps Continue Downward Spiral

Change is mandatory. Progress is optional. Are signing bonuses a sign of progress? Perhaps not, and more a continued sign of the competitive times. “A $1 Million Salesperson Signing Bonus is Not a Growth Strategy” is worth a skim. Today’s podcast interview is with me discussing the current rough environment, and as our brethren trail off home from the Texas MBA to the airport in Austin (and actually recognize each other without masks), the talk is about volume and cutbacks. Vendors are being beaten up on price. Long, long gone are the days of padding margins to slow things down as mortgage applications tumble week after week. Refinance volumes have fallen dramatically and are now heavily skewed toward cash-out transactions. Lenders also continue to indicate margins have been cut as much as possible, forcing reductions in capacity to try and control costs as volumes fall. Mid-level management is threatened (do you need district, regional, and divisional managers?) P

New yorkUnited statesTimes squareRob chraneTony thompsonAnjelica nixtAlex kutsishinSteve adamoGeoff zimpferBrooke andersonFrank martellWeekly mortgage applicationsPennymac correspondent groupDepartment of housingFederal reserveBank statement analysis