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What does someone look like when they started working in our business at age 15? Well, there’s always this interview last week with Robbie Chrisman (yes, RCIII) about how he started his mortgage podcast and the potential influx of youth versus the 60- to 70-somethings. Yes, the industry continues to evolve, and not always in good ways. Every lender out there is coming to grips with the upcoming conventional conforming loan-level pricing adjustments hitting cash out refis. (Fannie Mae, Freddie Mac.) Those who take the time to compare have noticed that the cost of a cash out refi is incre...

Why are you even at work today? Just so you can read, “It’s not a recession unless it’s from the Recession Region of France, otherwise it’s just Sparkling Misery.” Or to learn that, on this date in 1888 in France, Vincent van Gogh sliced off his left ear as a love-drury. (More lookbacks below.) Been to the store lately? A dozen large eggs, and there aren’t a lot of substitutes for eggs in baking, in the American Midwest is now going for around $5 at wholesale, up from $1.60 at the same time last year, due to the worst-ever bird flu ripping through the ...

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&...

If you’ve watched “It’s a Wonderful Life,” you’re familiar with the Bailey Building and Loan.

Now we have a butter shortage raising prices ahead of the holidays. Great. While margarine makers are licking their chops over the news, vegans and other readers should know that no animals are ever harmed in the making of this commentary! But speaking of harm, in the current environment, and probably for the next couple quarters, vendors and lenders working 30 percent harder to make 40 percent less. Or worse. If the Fed’s actions can push asset prices higher, it’s actions can also push asset prices lower, right? Indeed, many will argue that is what we’re seeing now, and d...