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Consulting, Appraisal, Prequal, MI, Specialty Products; Costco, SoFi, and Mortgages; Rates March Higher

Recently in Reno I overheard someone predict, “Forget Wikipedia. How about someone create ‘Liquorpedia’ with an encyclopedia of alcohol and drink recipes?” Remember when many “experts” predicted that a) Amazon was going to enter the lending biz and trample everyone, and b) Costco, after announcing it was offering mortgages to members, was going to drive any remaining lenders out of business? Neither has happened, and in fact, Costco has ended its mortgage “perk” for members. (There’s even some Costco humor in the joke section.) Meanwhile, Zillow, which has ended its iBuying business, is watching its stock hit multi-year lows, mimicking nearly every lender’s stock price. And why not? We’re seeing the highest 30-year mortgage rates since 2009, firmly in the 5s, and little inventory for sale. Rate and term refis have nearly vanished, and last week’s move by our Fed has short term rates predictably moving higher for the rest of 2022. (Mortgage rates perhaps not so much, and here’s "A Primer on the Federal Reserve and Mortgage Rates.") Today’s podcast is available here and this week’s is sponsored by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender. Today’s has an interview with attorney Marty Green, an attorney with mortgage law firm Polunsky Beitel Green, on what the latest Fed meeting means for the housing market. Lender and Broker Products and Services The most critical decision for businesses is knowing when to stay the course vs change direction. As the homebuyer market pivots to purchase, community banks need to adjust their strategies to succeed in 2022. Fortunately, SimpleNexus’ comprehensive digital homeownership platform helps lenders win in any market. On May 11 at 3 pm ET, tune into SimpleNexus’ free webinar discussing ways lenders can seize more opportunities by evolving their sales strategies, focusing on underserved markets, and leveraging a mobile-first tech stack that reduces costs and elevates borrower experiences. The choice is simple: dwell on the declining refi boom or register and look to the purchase-heavy future.

Alaska , United-states , Boise , Washington , China , California , Russia , Jackson-hole , Hawaii , Ukraine , Alaskan , Hawaiian

Title Company Wanted; Jumbo, Custom Letter Products; FHA and VA Developments; Blockchain and Mortgage Update

“A fine is a tax for doing wrong. A tax is a fine for doing well.” Lenders sometimes grapple with the former, always deal with the latter. In my travels around the nation visiting with residential lenders, what else has their attention? Loan officer recruitment, the area with fabled signing bonuses over the last year or so, is heating up. After two great years and a reduction in pipelines, some MLOs are searching for new homes or at least taking phone calls from recruiters, testing their worth in the open marketplace. Home equity lending is surging. This is an advantage that banks and credit unions are trying to push, and this lending product internally helps banks as they can shift staff from mortgage to HELOC lending (usually less complex). And STRATMOR’s current blog is about how “Lenders Continue to Pivot” in a shift to a purchase-centric focus. (Today’s audio version of the commentary is available here and this week’s is sponsored by ICE Mortgage Technology, combines technology, data and expertise to help automate the mortgage process, from consumer engagement through loan registration, and every step and task in between.) Lender and Broker Products and Services “At Sprout Mortgage, whether it's our jumbo loans to $10M, investor loans with debt service coverage, superior technology, or aggressive pricing, we have uncommonly good mortgage solutions not commonly found elsewhere. We have solutions that can help customers despite rising interest rates. That’s why we’re hiring across the nation – we’ve got explosive growth! You too can benefit from providing over 35 unique non-QM and QM solutions to meet all types of customer scenarios. Reach out to Jessica Fieramosca, SVP of Recruitment, at 657-888-9878, to chat about fresh career possibilities. You’ve got nothing to lose, and only earnings potential to gain. #SowYourSuccess at Sprout!”

Ohio , United-states , Michigan , Spain , Chicago , Illinois , Spanish , Joe-lathrop , Maryann-arbogast , Rob-chrisman , Anjelica-nixt , Francisco-daly

Study on Prepayments, MLO Productivity, Compliance, Profitability Tools; Conforming Conventional News

I flew into San Diego yesterday for the MCT Exchange, and it is hard not to notice the number of boats in the harbor. For some quick “fun with numbers” on recreational boating: The U.S. state of Florida has the highest number of registered recreational boating vessels in 2020, with almost 959 thousand, closely followed by California. Hawai’i has half as many as Wyoming. In contrast, the District of Columbia had the smallest number of registered boating vessels, with just over two thousand in 2020. Keeping with the “numbers” theme, I receive my share of questions regarding mortgage-backed security statistics. Anyone doing research on them should check out FINRA’s Reporting of Mortgage and Asset Backed Securities (Securitized Products), a little dry but packed with information. I mention this because, as we know, soon the Fed is scheduled to stop buying MBS every week, and for those of you who like graphs, here is the link to the Federal Reserve’s balance sheet. Yikes! (Today’s audio version of the commentary is available here and this week’s is sponsored by CWDL, providing industry-specific audit, accounting, and tax solutions that help you better understand the present so you can plan for the future. See what’s possible with CWDL. Today’s features an interview with Justin Demola, President of Lenders One, on how collaboration helps those in the industry.) Lender and Broker Products and Services PNC Bank partners with ActiveComply for social media compliance! Created for the financial industry, by the financial industry, ActiveComply is an industry-specific social media monitoring platform that collates social media for IMBs, banks, credit unions, &amp; more. ActiveComply monitors profiles and post content 24/7 to ensure compliance and protect brand reputation. PNC saw an opportunity to demonstrate its commitment to technology and innovation by adding this cloud-based solution to its tech stack. Learn more about how ActiveComply helps you engage with social media safely and meet your compliance and archival requirements by scheduling a personalized demonstration today!

Mexico , Tennessee , United-states , New-jersey , District-of-columbia , Wyoming , Florida , California , San-diego , Dallas , Texas , Capitol-hill

Controller, AE, MLO Jobs; ECOA, Referral, Broker, Warehouse Products; Correspondent and Wholesale News

Controller, AE, MLO Jobs; ECOA, Referral, Broker, Warehouse Products; Correspondent and Wholesale News
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.

New-york , United-states , West-division , Texas , Philadelphia , Pennsylvania , American , Freddie-mac , Glenn-stearns , Joe-destasio , Anjelica-nixt , Sean-marr

MLO Jobs; Pricing, Execution, Retention, Trailing Doc, Referral Products; HUD, Ginnie, FHA/VA News

MLO Jobs; Pricing, Execution, Retention, Trailing Doc, Referral Products; HUD, Ginnie, FHA/VA News
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.

Charleston , South-carolina , United-states , Philadelphia , Pennsylvania , Virginia , Grand-forks , North-dakota , Mississippi , Jacob-gerson , Michael-scheier , Freddie-mac

MLO, AE Jobs; Servicing, Sales, TPO, VOI Products; Fannie and Agency Shifts Continue: 3 Instead of 7 Percent NOO Cap?

MLO, AE Jobs; Servicing, Sales, TPO, VOI Products; Fannie and Agency Shifts Continue: 3 Instead of 7 Percent NOO Cap?
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.

United-states , Americans , America , Freddie-mac , Michael-johnston , Katherine-campbell , Jeff-schaefer , Jeff-newcome , John-kresevic , Fannie-mae-refinow , Shea-pallante , Lender-services

Title, Recruiting, MLO Jobs; Email, Training, AI, Lead, AMC Products; Wholesaler News; Rates Continue to Slide

Title, Recruiting, MLO Jobs; Email, Training, AI, Lead, AMC Products; Wholesaler News; Rates Continue to Slide
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.

Australia , United-states , Aussie , American , Walter-matthau , Chris-vinson , Anjelica-nixt , Justin-grant , Zoral-automatio , Rick-soukoulis , Jack-lemmon , Garth-graham

MLO Jobs; Pricing, Servicing, Processing, VOE Tools; Non-Agency and Jumbo Updates; LO Comp

MLO Jobs; Pricing, Servicing, Processing, VOE Tools; Non-Agency and Jumbo Updates; LO Comp
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.

New-york , United-states , Japan , San-benito , California , Dallas , Texas , Chicago , Illinois , San-francisco , American , Freddie-mac