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CRM, Ops, MLO Jobs; Pooling, Processing, Broker, Recruiting Products; Shift in CFPB Thinking? Rates Creeping Higher


CRM, Ops, MLO Jobs; Pooling, Processing, Broker, Recruiting Products; Shift in CFPB Thinking? Rates Creeping Higher
Feb 8 2021, 8:10AM
A Pennsylvania man is suing Smart Water for not making him smart, and here, in this Commentary, I’d like to formally announce my lawsuit against Thin Mints. Residential lenders are not only watching the 10-year yield hit a pandemic high, but are concerned about the legal and regulatory environment. Whether it is lawsuits or lending, the role of government, and regulators, is shifting. Anyone hoping for smaller government with this Administration was dealt a blow with the latest proposal to eliminate credit bureaus and have the government control (through the CFPB) the credit process. (I certainly received my share of emails over the weekend opposing this move, for a variety of reasons.) The Consumer Financial Protection Bureau and the National Credit Union Association (NCUA) signed a memorandum of understanding ....

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Sales Management, MLO Jobs; Recruiting, VA IRRRL, Non-QM Products; Litigation is Expensive; HMDA Season has Begun!


Sales Management, MLO Jobs; Recruiting, VA IRRRL, Non-QM Products; Litigation is Expensive; HMDA Season has Begun!
Jan 11 2021, 7:58AM
Of course some found humor in last week’s riot in Washington DC. (“In light of recent events, Mexico has decided that it will pay for the wall after all. And Canada wants one as well.”) For others, as heard in these messages from Republican Arnold Schwarzenegger and Colin Powell, there is nothing to laugh about. MLOs steer clear of politics with their clients, and on their job-related websites, for good reason. Not only is personal information on a company website against many rules and regulations, but there is a lot at stake. Many forecast that U.S. mortgage volumes could top $3 trillion this year as rising competition among lenders and an activist Federal Reserve combine to put further downward pressure on rates, and there are 800,000 U.S. borrowers who could save money if rates stay where they are. And ....

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Sales Jobs; Lending Shell Wanted; Non-QM, VA IRRRL Products; Investor's Agency Changes


Sales Jobs; Lending Shell Wanted; Non-QM, VA IRRRL Products; Investor s Agency Changes
Dec 14 2020, 9:43AM
With the snow expected in the Northeast this week, countless households washed loads of pajamas yesterday so that they could have clean work clothes this week. Y’all think 2020 is bad? Just wait until it turns 21 and starts drinking. Yet 2020 has been good for rates. The Fed has tamped down Treasury yields since the start of the pandemic in March, though those yields are quite the double-edged sword for the central bank. Higher Treasury yields/sinking bond and MBS prices can signal greater confidence in the economic recovery and are likely to be accompanied by rising inflation expectations, which the Fed hopes to see. But yields that climb too much also raise long-term borrowing costs, something the economy certainly does not need with the pandemic surging and millions still out of work. Purchase applications have grown in 2020, however. ....

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