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VA IRRRL, Productivity, Servicing, LO Retention, Warehouse Products; FHA, VA, USDA, and Ginnie News; Trigger Lead Webinar

As attendees head home from the MBA’s IMB in New Orleans, plenty will be eating airplane chow. Maybe you should buy vittles on the ground instead. Given the breezy weather in New Orleans, leather jackets are out in force. Those in attendance are talking about several good things that happened in 2023, impacting mortgage rates and lenders. Inflation has come down, hourly wages outpaced inflation the last seven months of the year, we didn’t have a recession or a banking crisis that some “experts” expected. In fact, the S&amp;P 500 was up 23 percent, and the economy grew a decent 2.6 percent. Credit costs and trigger leads are a big item; today’s L1 Mortgage Matters session at 2PM ET features John Fleming, of John Fleming Law and the Texas MBA, and a good update on the trigger lead situation. Basel III is a concern; as MBA President Bob Broeksmit points out, no bank has ever failed due to servicing requirements, and we should guard against non-sensical choices from Washington DC. (Today’s podcast can be found here and this week’s is brought to you LoanCare. LoanCare has successfully navigated clients and homeowners through market change for 40 years. The mortgage subservicer is known for delivering superior customer experience through personalization and convenience via its portfolio management tool, LoanCare Analytics™, supporting MSR investors with a focus on customer engagement, liquidity, and credit risk. Hear an interview with Deephaven’s Tom Davis on the Non-QM space and what to expect from nontraditional financing markets in 2024.)

Canada , China , Washington , United-states , Texas , American , Freddie-mac , Freddie-fannie , Bob-broeksmit , Jeff-neufeld , Juan-rodas , Deephaven-tom-davis

Regulatory, Compliance, RIA, Accounting, AI Products; CFPB Penalty News; Credit/FICO and Investor Updates

I’m so tired of the mainstream press talking about the 2024 election, 10 months out. Given that the median age of U.S. citizens is about 38 years, one would think we could find someone under the age of 75 to be president, regardless of party affiliation. On the other end of the age spectrum, at age 34, Gabriel Attal became France’s youngest prime minister. France’s inflation rate is running at 3.7 percent, which I mention because inflation and the actions of central banks are linked, and the inflation rate and the CFPB are linked. (Whenever I mention the CFPB to my cat Myrtle she feigns indifference. Sometimes she even saunters away.) The CFPB announced the annual adjustments for inflation to the CFPB’s civil penalty amounts, as required by the Federal Civil Penalties Inflation Adjustment Act, as amended. This final rule is effective on January 15, 2024. Tomorrow we will have the Consumer Price Index, meant to broadly capture changes in the prices of goods and services; more tomorrow! (Today’s podcast can be found here, and this week’s is sponsored by Truework. By connecting every verification method into one platform, Truework helps lenders eliminate process disruptions, maintain a competitive borrower experience, and reduce the fiscal impact of verifying income.) Lender and Broker Services and Software Jonathan Spinetto COO &amp; Co-founder at Nyfty Door, grew their business from 0 loan originations two years ago when he signed with TRUV, and is projected to hit 3,000 loans a month in 2024. NYFTY door sees conversion rates over 60 percent with Truv and is saving 60-80 percent over competitors! Contact TRUV today for your income, employment, insurance, and asset verifications.

New-york , United-states , France , Freddie-mac-choicerenovation , Carrie-hamel , David-lazowski , Carl-wooloff , Gabriel-attal , Steve-jacobson , Michele-teague , Mortgage-program-home-equity-conversion , Onboarding-team

Tech Stack Analysis, LO Efficiency, Fair Lending Products; NAR is Lawyering Up; STRATMOR on Retaining Customers

Here in the Milwaukee area (yes, the autumn colors are stellar), I attended a Newrez joint venture event and one of the conversation topics (besides lenders either saying “no mas” and exiting or being purchased, more below, or NAR’s legal events, more below) is the changing landscape of down payments and down payment assistance programs. STRATMOR’s current blog is titled, “Mind the Down Payment”. Despite high mortgage rates and low buyer demand, home prices are still at record highs in many parts of the country leading to higher down payments. LendingTree analyzed data from more than 580,000 users of our platform who lived in one of the nation’s 50 largest metropolitan areas. A down payment on a home across the nation’s 50 largest metros averages $84,499. While down payments vary significantly by location, no metro in this year’s study has an average of less than $47,900. California is home to the three metros where down payments are highest, Buffalo, N.Y., Oklahoma City, and Virginia Beach, VA, have the lowest. (Today’s podcast can be found here, sponsored by Visio Lending and its top notch broker program. Visio is the nation's premier lender for buy and hold investors with over 2.5 billion closed loans for single-family rental properties, including vacation rentals. Listen to interview with Visio Lending’s Jeff Ball on trends in DSCR Loans.) Lender and Broker Software, Products, and Services They say money doesn’t grow on trees. But that hasn’t deterred the 48,000 people who have hammered coins into the Ingleton Coin Tree over the centuries in the hopes of receiving good fortune and wealth in return. Mortgage lenders searching for prosperity can save themselves a transatlantic flight and register instead for the latest installment in TrustEngine’s Path to Profitability webinar series. Ben Miller, EVP of nCino’s U.S. Mortgage Suite, will join Churchill Mortgage’s Matt Clarke and TrustEngine’s Dave Savage to share consultative selling and technology strategies used by today’s 9-figure producers to create modern, tailored experiences that resonate with clients. It’s free and it’s happening today at 2 pm ET. Save your spot here.

Tennessee , United-states , New-york , California , John-owens , David-laz-lazowski , Mike-seminari , Steve-jacobson , Shannon-schmidt , Matt-clarke , Matt-vanfossen , Phil-treadwell

NAR Lawsuit; Accounting, MSR Transaction, HELOC Products; Webinars and Training; Interview with Best CEO Vishal Garg and CFO Kevin Ryan

Talk in the hallways here at the MBA Annual in Philly? How about the cost of insurance of all types. Case in point: “What Happens When the Flood Insurance Market Goes Underwater?” The NAR commission legal issues are a big, big deal, possibly impact real estate agents’ commission structure. The cost of credit will be going up, with the evening up of tiers: ask your CRA about it. Buybacks (repurchases) have been a problem for months. Several sales managers have told me that a new reason to touch base with previous clients, besides asking about outstanding 30 percent credit card debt, is LOs reminding previous borrowers about investing their money in a money market or Treasury Direct account and earning 5 percent. The CFPB’s attention, as well as that of other regulators, is on redlining, and we can expect to see fines and penalties due to that. (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 Better CEO Vishal Garg and CFO Kevin Ryan on the industry’s inexorable march toward technology, their company’s recent financials, and what they have learned in this market cycle.) Lender and Broker Software, Products, and Services Transactional lenders are being eclipsed by those offering better borrower experiences and an advisory approach to lending. Today’s nine-figure producers are topping the charts with modern, tailored experiences that resonate with clients on a deeper level. Are you ready to transform your mortgage lending game and achieve exceptional volume and profitability? Join TrustEngine on Wednesday, October 25 at 2 pm ET for Part 2 of our Path to Profitability webinar series, where Ben Miller, Ben Miller, EVP, U.S. Mortgage at nCino, and Dave Savage will delve into consultative selling and tech strategies that drive long-term success. Register now to grab a front row seat.

Israel , Genesee , Pennsylvania , United-states , Philadelphia , New-york , Washington , Michael-simmons , Bob-broeksmit , Minneapoli-kashkari , Fannie-mae , Mike-pulver

Capital Markets, TPO, CRM, AI Products; Bloomberg and Wells' Correspondent

Florida is the source of a sizeable percentage of home loans and fine lenders, as well as plenty of “Florida Man” stories. (Don’t read if easily offended.) I head to Orlando this morning, where (unlike this week’s rain and lightning) there are an average of 233 sunny days per year, in addition to the FAMP event this week. Speaking of sunny days, if they can make a car paint that can “heal” scratches by being out in the sun, wouldn’t you think someone could invent a new mortgage product? There are new things in the land of real estate agents, and thank you to Indiana’s Carol K. who, as a notary, recently completed a rather interesting assignment. “It was for a ‘Homeowner Benefit Program’ where the real estate company is buying the rights to be the real estate agents who sell the owner’s property if and when they sell. You get $500 to sign a contract with them that says if you ever decide to sell, you will use them as your agent. Something for a lender to consider. (Available here, this week’s podcast is sponsored by Agile, the mortgage industry's MBS fintech. Bringing the mortgage capital markets into a new digital era. From lenders to dealers, Agile is the new way to quote MBS. Today’s has an interview with Built Technologies' Jim Fraser on originating and managing loans to build or improve housing. Broker and Lender Services and Software I don't know… doesn't it seem like a good time to lower your costs? Here's an idea: turn your fixed staff overhead into variable costs by outsourcing your processing, underwriting, and closing functions to the fulfillment team at Computershare Loan Services (CLS). They are ready to help you with your entire pipeline from conventional, non-QM, and FHA loans to multiple product types, including HELOCs. CLS can fulfill one part of the originations process or all of it! They save clients an average of 30% on back-office operational expenses, so why wait? Contact the team at Computershare Loan Services to learn how they can help your business thrive.

Arizona , United-states , New-jersey , Massachusetts , Washington , Colorado , Minnesota , Florida , California , Indiana , Orlando , Michigan

Merchants Bank's Dawn Stenberg Named a Minnesota Housing Top Producing Loan Officer

Winona, Minn. - Dawn Stenberg, Mortgage Lender, was named a Top Producing Loan Officer by Minnesota Housing at...

Minnesota , United-states , Minnesotans , Freddie-mac , Andrew-guzzo , Merchants-bank , Rural-development , Fannie-mae , Merchants-bank-mortgage , Dawn-stenberg , Mortgage-lender , Top-producing-loan-officer

MLO Jobs; Lock, Fee Collection, Marketing, Jumbo, Encompass Products

MLO Jobs; Lock, Fee Collection, Marketing, Jumbo, Encompass Products
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.

Geneva , Genè , Switzerland , New-york , United-states , Florida , California , Maryland , Wisconsin , America , Cash-out , Brennan-oconnell

MLO Jobs; Secondary Marketing, SaaS, Purchase Tools; Fannie Addresses NOO and 2nd Home Policy

MLO Jobs; Secondary Marketing, SaaS, Purchase Tools; Fannie Addresses NOO and 2nd Home Policy
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.

California , United-states , Fort-washington , Pennsylvania , Irvine , Philadelphia , American , Jacob-gerson , Corey-shelton , Whitney-houston , Jonathan-stanley , Dolly-parton

Servicing, Ops, MLO Jobs; Purchase, Appraisal, PMI, Retention Tools; Investors React to Agency Changes

Servicing, Ops, MLO Jobs; Purchase, Appraisal, PMI, Retention Tools; Investors React to Agency Changes
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.

White-house , District-of-columbia , United-states , California , Irvine , America , Freddie-mac , Isaac-boltansky , Anjelica-nixt , Jonathan-stanley , Nathan-lee , Leif-boyd

9 Bremer Bank reps named MN Housing Top Producing Loan Officers

Kristy Morris Leas of Crookston one of the platinum top producing loan officers

Minnesota , United-states , Wisconsin , North-dakota , Minnesotans , Jason-naber , Sander-anderson , Tonya-boysen , Tiffany-phillips , Crookston-warren , Renae-meisch , Otto-bremer