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A correction to yesterday’s Commentary regarding the next holiday (Memorial Day) being two months out. Several emailed that Memorial Day is actually three months away! Overheard here in Texas the hallways at the TMBA Secondary Conference: “So if we don’t let athletes bet on games that they have the ability to influence, why do we allow Congress to invest in companies they regulate?” Here at the conference, the wise use of technology is definitely an important topic (today’s Mortgages With Millennials focuses on this), as are the desirability of better mortgag...

This morning it’s off to Missoula, Montana, for me to spend some time with the folks at MAMP. (Few states have as many different species of mammals as Montana: nearly 120 out of a total of 490 in the wild in North America.) Going through the airport there were few signs of Halloween, although across the country, lenders’ employees are asking, “Which area of our office has the best leftover Halloween candy, underwriting or accounting? Or perhaps it is near the front desk… a Kit Kat bar after lunch won’t hurt anything!” I bet the folks at NAR could use s...

As if lenders and vendors don’t have enough other stuff to worry about, the budgetary standoff in the U.S. doesn't look like it will abate soon, raising the likelihood of the first government shutdown since 2019. Current funding for federal operations will end on October 1 unless a deal is reached or the proverbial can kicked down the road. Thousands of federal workers might be furloughed without pay. Sure it will be temporary, and its wider impact will likely be limited, but still even talking about it is lousy. According to Morgan Stanley, the last 20 government shutdowns that...

Bulk acquisition of servicing rights to 45,000 Ginnie Mae loans brings Planet's servicing portfolio to $94 billion, with more purchases eyed for 2023.

Connecticut-based lender Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation.