Yearly Archives

2022 • 2021 • 2020 • 2019 • 2018 • 2017 • 2016

• Wednesday, September 28 Sep. 28: HR, bank & IMB LO jobs; fee collection, HELOC, automation, all-cash products; training, in-person events, and webinars

  As Florida’s homeowners, insurance companies, and companies that service loans in Hurricane Ian’s path, brace for the storm, lenders nationwide continue to grapple with a very, very difficult environment. Everyone...
• Tuesday, September 27 Sep. 27: Processing, TPO, co-op, subservicing, home ownership products; STRATMOR piece; Q&A on rates yesterday

  Yesterday, before the yield on the risk-free U.S. 2-year note rose to 4.25 percent, I mentioned my cat Myrtle being offered a big signing bonus by the family next door...
• Monday, September 26 Sep. 26: Bus. Dev., u/w jobs; DPA, correspondent, fulfillment, marketing products; STRATMOR & customer experience; IMB Merger

  The big news in the Chrisman household is my cat Myrtle being offered a big signing bonus by the family next door. Apparently, word of her mousing prowess has spread....
• Saturday, September 24 Sep. 24: A time saving edition

  Sometimes there just ain’t much to say, so I’ll save you some precious time today. Lenders continue to look for products to fit their borrowers’ needs, rates are high, applications...
• Friday, September 23 Sep. 23: MLO jobs; lenders wanted; TPO, coaching, warehouse, processing products; relentless rates provide no relief

  Tip-jar humor seen here in Chicago at a coffee shop: “Afraid of Change? Leave It Here.” Sure recessions typically mean lower rates, but are you okay waiting until that happens?...
• Thursday, September 22 Sep. 22: Non-QM, Employment Opportunities, Ginnie Mae RBC Rule; Fed Rate Hike Reaction

  All eyes have been on the Federal Reserve this year, but for independent mortgage banks, the focus has been on maximizing production and minimizing overhead in the face of higher...
• Wednesday, September 21 Sep. 21: Housing supply, employment opportunities, vendor services; How the Fed impacts rates

  It’s Fed decision day today and another 75-basis point rate hike is expected. Mortgage rates have surged to 14-year highs, deterring both buyers and builders, who have begun making the...
• Tuesday, September 20 Sep. 20: Housing inventory, employment opportunities, vendor services; News driving rates

  One issue currently facing the mortgage industry is a lack of supply, or as rapper Cardi B said over the weekend in her analysis of high home prices and rents, “a...
• Monday, September 19 Sep. 19: Housing correction, industry events, vendor services; Fed meets this week

  In the words of former Vice President  Dan Quayle, “We are ready for any unforeseen event that may or may not occur.” Around the world, soaring borrowing costs are squeezing...
• Saturday, September 17 Sep. 17: Western Alliance Bank Spotlight, Fannie and non-QM deals, audits and UDAAP safeguards; inflation in the headlines

  Just over a week ago marked the 14th anniversary of the government’s takeover of mortgage giants Fannie Mae and Freddie Mac in the wake of the nation’s subprime/housing crisis. The...
• Friday, September 16 Sep. 16: MLO economic information, job movement, CPI takeaways; Mortgage rate surveys

  With most mortgage related headlines focused on rates being back above 6 percent for the first time since 2008, it makes sense that 67 percent of millennials and Gen Zers who moved...
• Thursday, September 15 Sep. 15: Rushmore exits correspondent, vendor services, GNMA risk based capital; jobless claims

  It really is the hope that kills you. That phrase, which was coined by English football fans and is probably more well known in America among Ted Lasso watchers, is...
• Wednesday, September 14 Sep. 14: Treasury yields, employment offerings, vendor services; Inflation continues to rise

  With inflation likely causing the Fed to keep hiking rates aggressively (more on that in the Capital Markets section at the bottom), many people in our industry are asking how...
• Tuesday, September 13 Sep. 13: Home affordability, employment offerings, vendor services; Latest CPI

  With the Fed set to end its MBS purchases tomorrow, removing free money from the MBS market, where do you think home affordability will go from here? Mortgage rates are...
• Monday, September 12 Sep. 12: Mortgage evolution, employment offerings, vendor services; Fed hawk talk persists

  Does evolution lead to success? Major League Baseball is banking that instituting a pitch clock and banning defensive shifts starting next year will lead towards shorter games and more fan...
• Saturday, September 10 Sep. 10: Resume red flags, alternative programs, Agency MBS runoff ;Saturday Spotlight: Flueid

  As we all know, it’s been a tough year for our industry. I receive plenty of emails about companies downsizing (though some are expanding) and from people looking for new...
• Friday, September 9 Sep. 9: New mortgage products, vendor happenings, wholesaler news; Fed Chair Powell avoids spooking markets

  Whether it is independent mortgage banks or companies with the largest market caps in the world, new products are being developed and rolled out to help drive growth. Apple unveiled...
• Thursday, September 8 Sep. 8: Natural Disasters, Employment Opportunities, Vendor Services; Weekly Jobless Claims

  California is currently going through a heat wave (Sacramento set a temperature record on Tuesday at 116°), taxing the state’s power grid as energy demand breaks records and power officials...
• Wednesday, September 7 Sep. 7: Fed Balance Sheet, Employment Opportunities, Vendor Tidbits, Investor News

  The mortgage industry has come a long way from March of 2020, when the Federal Reserve pledged to buy “unlimited” amounts of Treasuries and MBS to stabilize the credit markets....
• Tuesday, September 6 Sep. 6: Jobs, Vendor misc., Events and trainings; Markets rally on unemployment uptick

  Now that we have passed the unofficial end of summer, am I allowed or not allowed to wear white on Zoom calls before 2023’s Memorial Day? Maybe darker-hued clothing better...
• Saturday, September 3 Sep. 3: Compliance morsels; Bank of America’s 0 percent down program; Freddie’s secondary market deals

  “Twas the third of September, the day I’ll always remember… Wherever he laid his hat was his home… And when he died, all he left us was alone.” Or maybe...
• Friday, September 2 Sep. 2: Employment, Lender services and software, wholesale latest; August payrolls

  We have witnessed a change in our work environment. From the Central Coast of California, Jeff O. sent, “Yesterday I had convened a zoom meeting of major national programs that...
• Thursday, September 1 Sep. 1: Cap. mkts., CRM, automation, home equity, non-English products; FHFA & Freddie news

  Tony H. writes, “I just switched my 30-year home mortgage to ‘student loan.’ Follow me for more financial advice.” I have been fielding questions about the impact of student loan...
• Wednesday, August 31 Aug. 31: AE, MLO, IT jobs; TPO products; qual, homebuyer, profitability products; BofA’s 0% down; mortgage apps continue downward

  My cat Myrtle has a certain amount of “girth,” as they say. But I tell her that she carries it well as the calories from line-caught halibut have far outweighed...
• Tuesday, August 30 Aug. 30: MLO, pricing jobs; credit, PPE, non-QM, LO sales training products; coast to coast training & events

  Nature “always bats last.” Terrible flooding in Pakistan, flooding in Mississippi impacting its drinking water supplies. Severe temperatures in China, a hot summer in the Western U.S. Fortunately, this year’s...
• Monday, August 29 Aug. 29: Servicing products; marketing; appraisal, LO sales tools; FHA & Ginnie news; Fed chatter continues

  Remember a few years ago when lender’s IT departments were thinking that blockchain was the answer to… whatever problem they thought it would answer? Every day blockchain talk has died...
• Saturday, August 27 Aug. 27: Ginnie & loss mit; a real-life econ tale; vendor news runs the gamut; Saturday Spotlight: Lender Price

  How do you, and your clients, make decisions? Being able to successfully work with clients takes more than just answering the phone, or making outbound calls, or remembering their birthday....
• Friday, August 26 Aug. 26: MLO, cap. mkts pricing job; TPO, marketing, workflow, tax service products; MWF shifts wholesale gears, Reali gone

  Abraham Lincoln famously stated, “Don’t believe everything you read on the internet.” There are always rumors out there. The latest to cross my desk, given the student loan forgiveness news,...
• Thursday, August 25 Aug. 25: AE jobs; DSCR, marketing, compliance, asset mgt. tools; non-Agency news; STRATMOR on lenders staying or exiting

  Nothing is simple or easy in this world. Take pine nuts. Simple, easy, right? Nope. A staple of pesto, and some salads and desserts, those in the United States don’t...
• Wednesday, August 24 Aug. 24: LO jobs; marketing, origination, DSCR, all-cash programs; September events, training, & webinars

  Lenders continue to adapt, and LOs are adding value by being subject matter experts and marketing accordingly. (For example, today’s podcast features an interview with Bob Griffith, General Manager of...
• Monday, August 22 Aug. 22: AE, Ops, MLO jobs; cap. mkts, broker, HMDA review, AI/ML products; recent Freddie & Fannie news of note

  John Kenneth Galbraith said, “The only function of economic forecasting is to make astrology look respectable.” How about forecasts of how dramatic this downturn has been for residential lenders and...
• Saturday, August 20 Aug. 20: Van Halen and brown M&Ms; vendor news; compliance tidbits; being awake in the middle of the night is ok; Saturday Spotlight: Denim Social

  No one can stop the tides, nor the seasons. Nor can individuals, businesses, or presidential administrations end business cycles. During 2020 and 2021 our industry helped millions upon millions of...
• Monday, August 15 Aug. 15: Non-QM lender wanted, MLO jobs; cap. mkts., TPO, CRM, AI products; Bloomberg & 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...
• Wednesday, August 10 Aug. 10: Cap. mkts, AE, LO jobs; automation, non-QM products; LD/Notarize/Cypress/UWM in the news; disaster updates; CPI knocks rates down

  Big and small, they aren’t the first and won’t be the last. Residential lenders everywhere are ruminating on Notarize laying off 75 percent of its legal staff, the closure of...
• Tuesday, August 9 Aug. 9: Verification, non-QM, subservicer, franchise, appraisal products; LD’s earning call today; rates tread water

  Singer/actress Olivia Newton John AND author David McCullough, both dying to start the week? (I just finished “Mornings on Horseback.”) After I die, I want my remains to be spread...
• Monday, August 8 Aug. 8: MLO jobs; internal audit, marketing, Realtor-facing, fulfillment products; events in the next few weeks; jobs & the Fed

  How much would you pay for a company responsible for a funny video? How ‘bout $1.7 billion bones? Amazon, catching the eye of the FTC, has made an offer to...
• Friday, August 5 Aug. 5: MLO jobs; u/w productivity, bid tape/AOT, origination, doc handling products; National MI and Equifax; payroll data drives rates

  Please answer the short questionnaire at the end of the Commentary. Okay, just kidding. I have grown to really dislike a survey request after I stay at a hotel, fly...
• Monday, August 1 Aug. 1: MI job; DPA, revenue, decisioning jumbo products & tools; upcoming events & webinars; more on the Fed

  Both basketball player Bill Russell and Nichelle Nichols, Lt. Uhura on Star Trek,” passing away!? Meanwhile, today I head to Chicago, the #1 city for naked bike riding. (No, I’m...
• Tuesday, July 26 July 26: MLO jobs; lead gen, Spanish app, REO mgt., subservicing tools; conforming conventional changes; rates sliding

  What in blazes?! The Choco Taco has met its demise?! Food is something we all have in common. Last week’s, “Knowledge is knowing a tomato is a fruit. Wisdom is...
• Monday, July 25 July 25: MLO jobs; digital, compliance, automated workflow, home equity products; rural, FHA, and VA news

  Here at the California MBA’s Western Secondary in Orange County, besides talk of Utah’s Pie and Beer Day yesterday, or maybe it is Pioneer Day, most of the discussions are...
• Wednesday, July 20 July 20: AE, MLO jobs; subservicing, convenience fee compliance, VOE, POS products; Non-Agency/non-QM product news

  “Having plans sounds like a good idea until you have to put on clothes and leave the house.” Capital markets teams have plans, and STRATMOR’s current blog is titled, “Capital...
• Tuesday, July 19 July 19: MLO jobs; non-Agency, jumbo, LOS, marketing tools & products; Appraisal news on ACE+ PDR: a faster way to close some loans

  From Salt Lake City, Rich B. sends, “My mind is like an internet browser: 17 tabs are open, 4 of them are frozen, and I don’t know where the music...
• Friday, July 15 July 15: Bus. Dev., MLO jobs; broker, DPA, automation, warehouse products; wholesaler news & new products

  Dang these five-day work weeks seem long! My cat Myrtle doesn’t seem overly concerned with work, days or weeks, as long as that line-caught ocean salmon keeps showing up in...
• Thursday, July 14 July 14: IT, MLO jobs; excess servicing, non-QM, anti-fraud, home equity tools; correspondent news; primer on yield curve inversion

  Real estate agents love it when loan officers give them referrals. That’s not always easy. Is giving a real estate agent a book on becoming a productive and well-respected real...
• Wednesday, July 13 July 13: MLO jobs; lock & shop, jumbo, non-QM, appraisal tools; STRATMOR tech study; events & webinars; ugh: inflation up, apps down

  Sue W. writes, “After I say, ‘That’s crazy’ twice, please wrap up your story.” There are a lot of stories out there now as residential lenders tighten their belts, their...
• Tuesday, July 12 July 12: MLO, Corresp. jobs; webinars, training, subservicing, processing tools; relentless Freddie & Fannie changes

  I mentioned yesterday that 4 out of 3 people have trouble with math, but it doesn’t take a genius to do subtraction. 6 – .2 = 5.8, right? Wouldn’t you...
• Monday, July 11 July 11: Ops, MLO jobs; bank statement, BI, marketing, MERS review tools; Fannie & Freddie on credit and new fees

  Did you know that 4 out of 3 people have trouble with math? I do too, as suggested by my capital markets background, but I know enough to understand that...
• Saturday, July 9 July 9: Vendor news & products; Freddie deals motor along; NAR’s thoughts on job data & mortgage rates

  Predicting that Monday is National Free Slurpee Day is a safe prediction. (It’s true.) Seriously, no one can predict the future, and when they try, they’re often wrong. But it...
• Friday, July 8 July 8: CD, MLO, AE jobs; warehouse, non-QM correspondent, compliance, CRM, processing products; FOMC & Fed Funds primer

  Dang, is there any good news out there? Japanese ex-Prime Minister Abe was tragically assassinated. Rates stink, especially compare to 2020 and 2021, but are you really rooting for a...
• Thursday, July 7 July 7: Non-QM, MLO, AE jobs; credit union, u/w, TPO products; report on lending trends; FHA & VA news; Sprout’s abrupt news

  Many youngsters don’t know the “Shave and a haircut? Two bits!” knock, or musical notes. Some things are timeless, like British Prime Ministers coming and going, and like what happens...
• Wednesday, July 6 July 6: MLO & Mgt. jobs; appraisal, sales, jumbo and non-QM products; webinars, training, and events in July; rates continue lower

  “I’m a multitasker. I can listen, ignore, and forget all at the same time!” We won’t, however, soon forget this part of the business cycle. “Rob, thank you for all...
• Tuesday, July 5 July 5: IMB & bank MLO jobs; warehouse, customer service, HELOC products; disaster news & NFIP primer

  “What do you get when you cross the Atlantic Ocean with the Titanic? Halfway.” We’ve crossed the halfway point of 2022, and where’s everyone’s attention? As always, lenders offer product,...
• Saturday, July 2 July 2: CFPB, Fair Credit, and UDAAP; Ginnie and Fannie in the capital markets; OCC’s mortgage snapshot

  Occasionally someone will mention, as was talk in 2008-2010, of a foreclosure “tidal wave” or upcoming default escalation. If something goes from 1 percent to 2 percent, yes, it is...
• Friday, July 1 July 1: MLO, AE jobs; processing, underwriting, flood, loss-mit products; new products and non-Agency, non-QM news

  This morning, at the beginning of the third quarter of 2022, I learned about this morsel: The most common national holiday around the world is independence from the British! That...
• Thursday, June 30 June 30: AE, MLO jobs; Bridge, DPA, non-Agency, fee collection products; upcoming training, webinars, events

  “Looking out at the road rushing under my wheels… Looking back at the years gone by like so many summer fields.” Yes, at the end of today we’re halfway through...
• Wednesday, June 29 June 29: MLO jobs; margin improvement, non-QM, sec. mktg. tools; FGMC fallout; California MBA weighs in; broker petition

  We’re all trying to save a few pennies. We have the increase in postal rates coming soon and perhaps pick up a roll, or ten, of Forever Stamps. It’s not...
• Tuesday, June 28 June 28: MLO jobs; operational cost, pre-qual, broker, legal & vesting tools; news from wholesale channel; housing demand & supply

  You can rest assured that no animals were harmed in the making of this commentary! But the harm felt by stockholders during the last several months has not been trivial,...
• Monday, June 27 June 27: AE, MLO jobs; new loan products; sales webinar; GSE’s new fee and other conforming conventional changes

  “I used to be indecisive. Now I’m not so sure.” Management teams at lenders and vendors can’t be indecisive in this environment. Who’s going to be right, come Q4 of...
• Saturday, June 25 June 25: Florida insurance crisis; notes on Black Knight/ICE, Flagstar breach, S&D and bridge loans; vendor news; Saturday Spotlight: Change Wholesale

  This week we had the official start of summer, although “summer life” has already begun for many. (Cue Kenny Chesney’s summer song… two bare feet on the dashboard…) Unfortunately many...
• Friday, June 24 June 24: MLO, Bus. Dev. jobs; pre-qual, appraisal, marketing, accounting tools; rural housing process & Ginnie Mae news

  Knocking on wood is an apotropaic (averting bad luck) tradition of literally touching, tapping, or knocking on wood, or merely stating that one is doing or intending to do so,...
• Thursday, June 23 June 23: Title, lead conversion, MSR, POS, QC products; STRATMOR piece on tech adoption; Wholesalers & TPO investors on the move

  Crypto and blockchain technologies have some valid applications but when it’s just for investment, there are tons of scams. (And what would we do for passwords if it weren’t for...
• Wednesday, June 22 June 22: Analyst, MLO, AE jobs; PPE, U/W, lead purchase products; Events, training, & webinars through July

  One topic of conversation at the MBAH conference is the quote making the rounds, “Marry the house, date the rate,” a nightmare for capital markets and servicing groups engineering hedging...
• Tuesday, June 21 June 21: AE, MLO jobs; pricing, broker, jumbo, fee collection products; STRATMOR on connecting with borrowers; investor ARM news

  Here in Honolulu, talk among those gathered for the MBA Hawai’i annual conference includes the rise in adjustable-rate mortgage lending by depositories, and the impact of inflation, and the Federal...
• Monday, June 20 June 20: FHA jobs; POS, LO survey, processing, servicing, non-QM products; Freddie & Fannie ceaseless changes

  “I won’t be impressed with technology until I can download food.” The universe doesn’t care about technology, nor does the earth’s rotation. The summer solstice (not the “longest” day of...
• Saturday, June 18 June 18: Letters on housing & the economy (allowing gazumping!) and cutting costs, vendor news: Saturday Spotlight: Change Wholesale

  Yes, we all knew that rates were going to go up. After all, 30-year mortgage rates weren’t going to stay in the 2 percent range forever. But the speed at...
• Friday, June 17 June 17: Hedging, MLO jobs; insurance, eVault, defect rate, warehouse products; easy-to-understand basis risk primer

  There are strange things going on out there. Revlon filing for bankruptcy. Atlanta’s mayor calling for limits on investors buying homes. Delta Airlines limiting the amount of time you can...
• Thursday, June 16 June 16: MLO jobs; company webinars, non-Agency, compliance, DPA products; USDA & Ginnie news; rates smack housing starts & permits

  If you can’t think of a word or phrase, say, “I forgot the English word for it.” That way people will think you’re bilingual instead of an idiot. It is...
• Wednesday, June 15 June 15: Analyst job; non-Agency, appraisal, loan delivery products; June & July events; expect a 75 bp move higher from the Fed

  “Do you know that humans eat more bananas than monkeys? Think about it, when was the last time you ate a monkey?” Words and terms are important. At this point,...
• Tuesday, June 14 June 14: Compliance, MLO jobs; AMC, lender wanted; sales, compliance, non-QM, processing tools; VA program primer

  While we await FEMA to declare the Yellowstone area a disaster (page down and spend 40 seconds watching the video) is “niches to riches” the new informal slogan of loan...
• Monday, June 13 June 13: MLO, reverse jobs; u/w automation, valuation, pre-approval tools; inflation drives 10-year yield toward 3.30 percent

  Life is too short to waste time matching socks. Yes, time flies. Remember a year ago, when a) the announcement of Juneteenth, the new Federal holiday, caught everyone off-guard time-wise,...
• Saturday, June 11 June 11: Letters on the Equifax situation, Black Knight & ICE, all cash programs, combatting fraud; Saturday Spotlight: Denim Social

  Residential lending and servicing these days? Servicing packages continue to be sold for various reasons, and news about layoffs rarely stops. It is fun being a manager when you’re out...
• Friday, June 10 June 10: Bank & IMB LO jobs; productivity, pre-qual, non-Agency products; Freddie & Fannie changes; consumer price index: painful

  Start the day with a little something non-mortgage? Ira S. with U.S. Mortgage, on his time off, of course, found “River Runner.” One can basically click anywhere in the United...
• Thursday, June 9 June 9: Compliance, AE, MLO jobs; cap mkts profitability, HELOC, sales tools; upcoming events & training & conferences

  Plenty of folks in our biz can be accused of having aprosexia. (No, I didn’t join some “Word of the Day” club.) But lenders and originators have to be pay...
• Wednesday, June 8 June 8: MLO, AE jobs; Borrower research papers, non-QM, repurchase defense tools; TPO news; apps continue to fall

  Yesterday in Ft. Wayne, Indiana, at the Indiana Mortgage Bankers Association’s annual conference, one of the non-mortgage conversations that I had was about TV. (Sometimes people talk about shows they’re...
• Tuesday, June 7 June 7: U/W, Ops, AE, MLO jobs; subservicing, training, U/W, 2nd lien, marketing products; why LOs should care about the FHFA

  Willie Sutton never actually uttered the phrase, “I rob banks because that’s where the money is.” But he did admit never feeling more alive than when he was robbing them....
• Monday, June 6 June 6: VP Finance/Controller, MLO jobs; AI, compliance, MSR, processing tools; Non-QM & jumbo changes

  As servicing rights continue to be sold, and residential lender layoffs are rampant, here’s a quick reminder that anyone displaced can post their resume for free here; employers can view...
• Saturday, June 4 June 4: Vendor news runs the gamut incl. ownership changes; using prequals to predict volume; Saturday Spotlight: Indecomm

  There are 7,000 languages in the world, give or take a few hundred. I mention this because a) one of the vendors below is supplying mortgage documents in different languages,...
• Friday, June 3 June 3: MLO, bus. dev. jobs; investor, AVM, lead conversion, anti-fraud products; Quontic’s No Ratio program move

  Vice President Dan Quayle sagely observed, among other things, “If we don’t succeed, we run the risk of failure.” Is our housing market in danger of failing? Hardly. But lenders,...
• Thursday, June 2 June 2: Non-QM exec, MLO, AE, cap mkts jobs; aged asset, servicing, compliance, non-Agency products; employment data driving rates

  If you see me talking to myself, just move along. I’m self-employed, and we’re having a staff meeting. Self-employed borrowers are certainly a target of non-QM lenders around the nation....
• Wednesday, June 1 June 1: Appraisal, cap mkts, MLO, corresp. jobs; DPA, reno, HELOC products; lender M&A news doesn’t stop

  This morning I head off to Orange County to the IMN Non-QM Forum where homeownership and home finance option discussions will be center stage. Did you know that June is...
• Tuesday, May 31 May 31: Compliance, MLO, AE jobs; efficiency, processing, Expat, underwriting tools; events this week and next; rates head higher

  Yes, it’s already Tuesday. Are we at the top of the market? A pair of Goldman Sachs-backed ventures gobbled up an entire rental home community in Florida last month for...
• Saturday, May 28 May 28: Container homes & barndominiums perfectly acceptable; Lehman Bros. update; recession primer: what is the NBER?

  Get up, stand up, stand up for your rights. Residential lending and the court system are inextricably linked. (See Lehman Brothers story below.) But we’re not alone. Intellectual property and...
• Friday, May 27 May 27: MLO jobs; private label, fulfillment, non-Agency products; wholesalers & correspondent process & product changes

  What guy hasn’t wanted to usher a gal through to a club like Ray Liotta did, masterfully filmed without cutting away? Unfortunately, breaking the spell of the video, I received...
• Thursday, May 26 May 26: AE, MLO jobs; prequal, profitability, due diligence, underwriting tools; FHFA news: Sandra T!; STRATMOR on appraisal management

  Yesterday I visited Sacramento to speak to an audience of real estate agents and originators in a joint MGIC/Golden 1 Credit Union event. The mood was good, and much of...
• Wednesday, May 25 May 25: AE, MLO jobs, lenders wanted; cap. mkts., purchase advice products; investor Agency changes; rates hit housing; IMB costs head higher

  All the stories that could be told, and so many that have yet to happen. And now 19 that never will be. It is very hard to go about one’s...
• Tuesday, May 24 May 24: CFO, compliance, MLO jobs; fee collection, subservicing, processing, sales tools; events & webinars through June

  The last pay phone was removed from New York City yesterday. (Heck, growing up I financed my baseball card purchases by looking for loose change in those and newspaper vending...
• Monday, May 23 May 23: MLO jobs, lender wanted; LO sales tools, CFPB oversight, processing, rehab products; updates from Fannie

  I recently opened my slang dictionary to the page that defined the origin of, “Different ways to skin a cat” and left it near my cat Myrtle’s water bowl. She...
• Saturday, May 21 May 21: Vendor news, CRA update; El Salvador & cryptocurrency; babysitters are how much?! Saturday Spotlight: LoanCare

  Yes, the U.S. stock market has taken a hit with the S&P 500, a broad measure, down 20 percent from its high. Any potential home buyer keeping their money in...
• Friday, May 20 May 20: Senior cap. mkts., MLO jobs; employment history, insurance, POS, MSR financing products; Q&A on flood insurance laws

  Huh? We should all worry about monkeypox now? While we’re talking about health, my doctor asked if anyone in my family suffers from mental illness. I replied, “No, we all...
• Thursday, May 19 May 19: AE, Ops, MLO jobs; loan sales, closing cost scenario, asset sale tools; rates dropping…what is the “neutral” interest rate?

  “One minute you’re young and having fun. The next, you’re turning down the car stereo to see better.” Gone are the days when all loan officers wanted to see from...
• Wednesday, May 18 May 18: MLO jobs; non-QM, underwriting, appraisal products; MBA’s compliance offering; higher rates hitting apps, and starts & permits

  As the MBA’s Secondary Marketing Conference wraps up in Manhattan, and the 1,200 or so registered head home and face post-conference life, Rob B. asks, “What was the mood of...
• Tuesday, May 17 May 17: MLO, AE jobs; LO training, database mining, digital, PPE, non-QM products; upcoming training and events

  Keeping things in perspective, last Thursday the White House announced a raft of measures to alleviate the ongoing baby formula shortage, which has worsened in recent weeks because of a...
• Monday, May 16 May 16: MLO jobs; 40-year, pre-approval, processing, subservicing products; thoughts from the Secondary Conference

  Plenty of capital markets folks, senior management, and the usual cadre of vendors are here in Manhattan, doing the macarena until 2AM. Okay, just kidding. They’re actually talking about some...
• Saturday, May 14 May 14: Loss aversion & rate locks; economic trends; vendor news; Saturday Spotlight: Staircase

  Did you know that Saudi Aramco (ARMCO) has officially topped Apple (NASDAQ:AAPL) as the world’s most valuable company? At one point this week the state-owned energy giant closed with a...
• Friday, May 13 May 13: MLO jobs; non-QM, DSCR, desktop appraisal, DPA products; USDA, VA, FHA investor product news

  English grammar… what a hassle. Is it “lay” or “lie”? – Are you sure you’re using them correctly? “Than” versus “then?” One should use “than” only with a comparative adjective,...
• Thursday, May 12 May 12: MLO jobs; loan sales, fee collection, vendor selection, fix & flip products; STRATMOR tech survey

  This whole story is completely true. Except for all the parts that are totally made up. (Here’s a clip of something not made up: a mesmerizing drone video of the...
• Wednesday, May 11 May 11: AE, MLO jobs; U/W, HELOC, DSCR, MSR products; UWM, Rocket 1st quarter stats; approaching training, webinars, & conferences

  Remember: April is National Procrastination Month! I could tell that my cat Myrtle was displeased the other morning. She’s very secretive about her finances, but my guess is that she’s...
• Tuesday, May 10 May 10: MLO jobs; warehouse, call center, non-QM, processing, lead gen products; Fed’s Financial Stability Report

  Ever kissed a West Coast gal under the Northern Lights? North and West aside, there are lenders and vendors from every corner of the nation heading to the East: We’re...
• Monday, May 9 May 9: MI, Cap. Mkts., MLO jobs; consulting, appraisal, prequal, MI, specialty products; Costco, SoFi, & 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...
• Saturday, May 7 May 7: Hedging ARMs; vendor news; Fannie deals; animal lovers: don’t read the joke; Saturday Spotlight: The StoneHill Group

  Lenders often liken their jobs to that of attorneys, for many reasons. For one example, lawyers overwhelmingly want more flexibility, and they’re willing to jump ship to get it, a...
• Friday, May 6 May 6: MLO jobs; loss mit, text messaging, jumbo ARM, custom NFT, MSR financing products; strong jobs data continues

  Here’s a stream of consciousness paragraph for you. “Rob, what are you hearing about companies laying off, furloughing, right-sizing, whatever, employees to cut costs while at the same time paying...
• Thursday, May 5 May 5: AE, MLO jobs; TPO, compliance, marketing, underwriting, audit tools; Is Black Knight worth 2x the NY Yankees?

  Life is complicated. Take the Black Knight purchase by ICE. Some vendors are out there licking their chops at their company’s valuation while others are fearing for their future as...
• Wednesday, May 4 May 4: Marketing, MLO, AE jobs; servicing, automation, processing, sales tools; non-QM & jumbo investor news

  May the 4th be with you! Without the lisp, there are many forces tugging at lenders and vendors. Forget 2020 and 2021. Recruiters are asking LOs what their numbers were...
• Tuesday, May 3 May 3: MLO & mgt. jobs; customer experience, non-QM, eClosing products; conventional conforming program adjustments

  With the yield on the risk-free 10-year Treasury note hitting 3 percent for the first time since 2018, you deserve some cutting-edge humor. Two hats were hanging on a hat...
• Monday, May 2 May 2: AE, MLO jobs; HELOC, non-QM, pricing, eNote, AI, warehouse products; training & events through June

  Besides a reminder that it is Teacher Appreciation Week, how about some loan officer humor to lead off Monday? “We’re closing on our house next week. Sorry we didn’t use...
• Saturday, April 30 Apr. 30: Secondary market securitizations; vendor updates; social security numbers as passwords; basis points further explained

  Here in Hawai’i, over the last 30 years, rainfall in Hawaii has decreased by 18%. The population in the region has doubled since 1959, with visitors reaching record levels, a...
• Friday, April 29 Apr. 29: MLO jobs; marketing, HMDA dashboard, DSCR, tax programs; M&A news: Planet Home/Home Point, & Redwood/CoreVest

  On Sunday, here in Hawai’i, and everywhere else I guess, is Lei Day. I was all set to go down the 5th grade joke path, until I saw this story...
• Thursday, April 28 Apr. 28: MLO jobs; cap. mkts., underwriting, pre-qual, automation tools; Freddie results; May webinars & events; GDP tumbles

  While the industry digests Freddie Mac’s first quarter earnings (47 percent purchase, 53 percent refi), if you try to correct my grammar, I will think fewer of you. Speaking of...
• Wednesday, April 27 Apr. 27: AE, MLO, bank LO jobs; audit, non-QM, DPA products; FHA, VA news; apps continue downward spiral

  Change is mandatory. Progress is optional. Are signing bonuses a sign of progress? Perhaps not, and more a continued sign of the competitive times. “A $1 Million Salesperson Signing Bonus...
• Tuesday, April 26 Apr. 26: MLO jobs; TPO loan, customer service, CRA, QC, lead-gen tools; widespread Agency changes; why no decent ARM pricing?

  Running feels great unless you compare it to not running. While here in Northern California for a board meeting, I received, “I read your capital markets section every day because...
• Monday, April 25 Apr. 25: U/W, AE, MLO jobs; fee processing, sales, PA tools; Blend layoffs, wholesaler stops locks; rates drop as growth falters

  “I’d listen to their forecasts about as much as I’d listen to Aerosmith’s Steven Tyler dispense advice on monogamy.” Regardless of who this LO was talking about, predictions are dicey...
• Saturday, April 23 Apr. 23: Letters on irrational pricing, fraud warning; IMBs & servicing; one of my favorite jokes; Saturday Spotlight: Xactus

  As bulk packages of mortgage servicing rights continue to hit the market (primarily from lenders who’ve held servicing but now need some cash/liquidity), let’s shift our gaze to… Wordle? Fans...
• Friday, April 22 Apr. 22: Sales mgt., MLO jobs; compliance, pre-approval, non-QM products; CrossCountry/LendUS acquisition and M&A success tips

  “Two silkworms had a race. They ended up in a tie.” There aren’t a lot of ties of either kind in mortgage banking, but there is plenty going on. Mortgage...
• Thursday, April 21 Apr. 21: MLO jobs; TPO, CFPB exam, sales tools; marketing for purchase biz; interview with millennial homeowner

  When you’re working from home, how interesting can next Thursday’s, April 28th, “Take Your Children to Work Day” be? WFH, or hybrid arrangements, is a continued concern for managers, and...
• Wednesday, April 20 Apr. 20: IMB wanted, AE, MLO jobs; TPO, cap. mkts. products; upcoming events & training; mortgage apps down, down, down

  Happy 420 Day. (Tomorrow, by the way, is Happy Surprise Drug Test Day.) Another day, another layoff story from Better.com. The human tragedy in Ukraine continues, but the world financial...
• Tuesday, April 19 Apr. 19: Ops, AE jobs; non-QM, DPA, jumbo news; training, servicing, marketing, dashboard tools; 10-year approaching 3 percent

  As the nation ruminates on the court ruling on the mandatory mask mandate, remember, “You do not need a parachute to skydive. You only need a parachute to skydive twice.”...
• Monday, April 18 Apr. 18: MI, reverse, u/w, accounting jobs; cap. mkts., TPO, eClose, warehouse products; FHA, VA, USDA news

  Notes to start off the week?! First off, there are some darned clever people around, and this ditty (thank you to John H. for sending) sung to “American Pie” and...
• Saturday, April 16 Apr. 16: Letter on CFPB/Transunion; Vendor news runs the gamut; FBI on new cybercrime & scam; Saturday Spotlight: Homeside Financial

  For something non-mortgage related, last night here in Manhattan (who hasn’t seen AC/DC’s version of “On Broadway”?) city officials arranged the lights on the Empire State Building to glow blue...
• Friday, April 15 Apr. 15: Reverse, CFO, MLO, AE jobs; pre-approval, warehouse products; misc. investor changes; keen capital markets insight

  Salutations dear Reader! Of course when you receive an email or letter that begins with that it is an automatic “delete.” But don’t delete this quite yet. Yes, the stock...
• Thursday, April 14 Apr. 14: MLO jobs, IMB wanted; cap mkts., eClosing, borrower intelligence, automation products; Fannie & Freddie relentless changes

  It’s Thursday. What should we talk about today? Elon Musk’s bid for Twitter? How about the jump in adjustable-rate locks as evidenced by the MBA’s figures? (Are your LOs well-versed...
• Wednesday, April 13 Apr. 13: Sales, accounting, IT, MLO jobs; U/W, LOS, Fair Servicing products; new loan & servicing products; upcoming webinars & training

  I happen to be visiting Manhattan this week. Besides the news about the subway shooting, the overall “hum” of this place being unmistakable and I mention this for two specific...
• Tuesday, April 12 Apr. 12: DTC/CD, MLO jobs; prospecting, processing, closing tools; primer on the expenses of hedging long-term locks

  I knew it was going to be a rough morning today when my alarm went off and I found my cat Myrtle staring at the computer screen watching Social D’s...
• Monday, April 11 Apr. 11: Product dev., AE, MLO jobs; BI, non-QM products; CFPB, CRAs, telemarketing, and HMDA; Comp survey; 2.75 10-year

  Prepare yourself. Inflation data for March will be released tomorrow, and it’s bound to be ugly and reflect everything you’re seeing at gas stations and restaurants. Thank you to everyone...
• Saturday, April 9 Apr. 9: Three big cyber risks and protective measures; vendor updates; Lock volume stats; Saturday Spotlight: Lender Price

  Let’s say your daughter or son graduates from high school, doesn’t want to spend hundreds of thousands on college, and is deciding between becoming a carpenter, with a starting wage...
• Friday, April 8 Apr. 8: Reverse, MLO, AE jobs; 40-yr, jumbo, co-op, audit, credit, homebuyer tools; Freddie & Fannie program news

  The risk-free 2-year Treasury began 2022 yielding .73 and is now at 2.52 percent! Does your company offer 2-1 buydown loans? Do your LOs even know what a 2-1 buydown...
• Thursday, April 7 Apr. 7: Sales mgt., AE, MLO jobs; TPO loan products; social media, profitability products; MLOs helping financial literacy

  Today is National Beer Day (beer humor below), which made last night Beer Day’s Eve. Here at the CMLA event the talk is not about all of the craft breweries...
• Wednesday, April 6 Apr. 6: MLO, AE jobs; eSign, jumbo, sales, appraisal products; warehouse wanted; FHA, VA news; QT ahead? Rates upward/apps downward

  Grammar is important. What’s the difference between a kleptomaniac and a literalist? A literalist takes things literally. A kleptomaniac takes things, literally. How about the grammar of, “Rates ain’t going...
• Tuesday, April 5 Apr. 5: MLO jobs; PPE, business intelligence, jumbo products; April training & events; primer on yield curve significance

  My friend David had his id stolen and now he’s just Dav. Having anything stolen is not a laughing matter, and since we’re in the money business, lenders and vendors...
• Monday, April 4 4/4/22: Sales, MLO jobs; customer service, digital, warehouse, pricing tools ; Non-QM, jumbo, ARM news

  “Rob, my capital markets gal eliminated our ability to lock overnight at yesterday’s rates. I think that she’s being unreasonable. Your thoughts?” No, she’s not. Overnight lock protection is one...
• Saturday, April 2 Apr. 2: Compliance tidbits; Angel Oak shifts back lock policy; Fannie green deals; Saturday Spotlight: Seroka Brand Development

  There is one thing that every mortgage lender and vendor have in common: they eat. Here is the favorite comfort food by US state. Did they get your state right? Grilled...
• Friday, April 1 Apr. 1: Correspondent, AE, MLO jobs; AI, underwriting, WealthBuilder products; non-Agency news, good and not so good

  I think that we can all agree that in 2017 not a single interviewee got the answer correct to, “Where do you see yourself 5 years from now?” Heck, projections...
• Thursday, March 31 Mar. 31: AE, MLO jobs; capital markets, customer service, sales tools; flood insurance, climate change news from HUD & the SEC

  Want an old home? How ‘bout Betty White’s digs in Carmel, California? Want a new home? Fugget about it, per this report on newly constructed houses. Even if rates were...
• Wednesday, March 30 Mar. 30: Lender for sale, MLO jobs; Non-Agency, TPO, pre-approval, compliance, CRM products; Dallas Fed on housing;FINRA Rule 4210 update

  As we edge toward Easter, which isn’t until April 17 this year, the Dallas Fed has released a report on housing prices… have they become unhinged from fundamentals? Those crafty...
• Tuesday, March 29 Mar. 29: CFO, LO jobs; cap. mkts., AI UW, efficiency, valuation, sales tools; conventional conforming news; progress in Ukraine?

  When did “beauty parlors” become “beauty shops” become “salons” and “spas?” Our industry doesn’t have a monopoly on change, and in my recent travels around the nation visiting with residential...
• Monday, March 28 Mar. 28: AE, MLO, FHA jobs; TPO, processing, tax products; training & events into April; California IMB CRA update!

  This isn’t a commentary. It’s a “next level experience!” How are we in the week ending the first quarter already? Here’s some news that will be greeted with glee by...
• Saturday, March 26 Mar. 26: U.S. population on the move; The Fed, MBS, and “tappable” equity; Agency CRT deals; Saturday Spotlight: TitleClose

  People are on the move, and lenders and MLOs are paying attention. Hawai’i saw a net outflow: The Census Bureau put Hawaii’s population in July 2021 at 1,455,271. That’s a...
• Friday, March 25 Mar. 25: MLO jobs; title company wanted; jumbo, custom letter products; FHA & VA developments; blockchain & 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...
• Thursday, March 24 Mar. 24: AE, MLO jobs; Secondary mktg., appraisal, fulfillment products; Home affordability slips; Jumbo news; crypto mortgages

  The state of most commodity prices around the world? Prices are higher. What is the current state of donating blood? I tried donating blood again yesterday in San Luis Obispo,...
• Wednesday, March 23 Mar. 23: MLO jobs; AI, social media, DSCR products, credit service products; IMB profits plummet; conforming conventional tidbits

  Another day of travel, heading to California and its Central Coast. The state has seen its share of house price appreciation, as has the nation, and in terms of actual...
• Tuesday, March 22 Mar. 22: Servicing, fee collection, underwriting, and licensing tools; customer service study; upcoming events & training

  As packages of mortgage servicing rights continue to hit the market, and some wonder at the high multiples, know that the percentage of borrowers current on their mortgage payments increased...
• Tuesday, March 22 Mar. 22: Servicing, fee collection, underwriting, and licensing tools; customer service study; upcoming events & training

  As packages of mortgage servicing rights continue to hit the market, and some wonder at the high multiples, know that the percentage of borrowers current on their mortgage payments increased...
• Monday, March 21 Mar. 21: AE, Realtor LO, MLO, compliance jobs; cash flow worksheet, MBA membership products; thoughts on CFPB’s latest moves

  Today, for yield curve fans, the 3, 5, and 7-year Treasury yields are all above the 10-year yield. But yesterday was the Spring Equinox, aka Vernal Equinox, above the equator....
• Saturday, March 19 Mar. 19: U.S. population growth stalls; Warehouse banks & fraud; vendor news; the CFPB & fees; Saturday Spotlight: Cenlar FSB

  Here in Miami, amidst Florida’s population influx, even people in their 60s and 70s, heading toward “elderly” and their “Golden Years” can feel young. I received a note from one...
• Friday, March 18 Mar. 18: MLO jobs; TPO products, CRM, accounting products; primer on the Capital Markets job

  When did pineapples in shopping carts become a thing (more below)? But I digress… This morning I head to Miami, because isn’t there where most rap videos are filmed? Remember...
• Thursday, March 17 Mar. 17: MLO jobs; upcoming sponsored events, compliance products; pool of loans for sale to CUs; CFPB & UDAAP; webinar on CRA & IMBs

  Walking around Memphis yesterday got me to thinking, “I wonder what the part of my brain that used to store people’s phone numbers is doing now.” Maybe being used to...
• Wednesday, March 16 Mar. 16: CFO, MLO jobs; fulfillment, automation, CE products; TPO business tweaks & new products

  Let’s face it, women spend more time worrying about what men are actually thinking than men actually spend thinking. While capital markets staffs are checking out graphs of the Fed...
• Tuesday, March 15 Mar. 15: Ops jobs, producer wanted; hedging, eClose, QC, AI, portfolio/non-QM products; conforming conventional news

  At the Ides of March, inflation is pervasive. Today rumors are swirling that Tom Brady ended his retirement because of not being able to afford to retire given the price...
• Monday, March 14 Mar. 14: Compliance, management jobs; Sales tools; BI, digital processing, VOE, servicing products; FHA, VA, & rural news

  Today’s commentary: 100 percent the truth except for the stuff I make up randomly. I am not making up the Federal Reserve’s meeting this week with traders nearly certain that...
• Saturday, March 12 Mar. 12: Rate lock volumes; Inverted yield curve? Agency deals; Saturday Spotlight: ICE Mortgage Technology

   At the CMBA dinner last night here in Chattanooga, the table talk certainly included the price of gasoline. But inflation is everywhere, and now it really hurts: Five fewer Doritos...
• Friday, March 11 Mar. 11: Compliance, MLO, AE jobs; eClosing, eMortgage products; April full of conferences; news on CRA for IMBs

  Daylight Saving Time for much of the nation springs up Sunday morning, leading to plenty of grousing on Monday. What else is going on? “Please listen carefully, as our menu...
• Thursday, March 10 Mar. 10: MLO jobs, moves; non-QM, CFPB readiness, homeowner monitoring products; title survey; fast-approaching events; IDS sale

  “I don’t always go the extra mile, but when I do, it’s because I missed my exit.” And that extra mile costs more every week. Higher gasoline prices certainly hit...
• Wednesday, March 9 Mar. 9: Copywriter, MLO jobs; loan sale, broker to banker, bank statement, QC tools; conventional conforming news

  I’m visiting with lenders and organizations in Tennessee much of this week, and a fair amount of the talk revolves around conversations with borrowers “unlocking the equity in their homes.”...
• Tuesday, March 8 Mar. 8: MLO jobs; borrower, disaster alert, verification, processing tools; Non-QM & non-Agency product news

  This morning I am heading to Knoxville to visit with the local chapter of the Tennessee Mortgage Bankers Association. On my way I received an email asking, “I’m trying to...
• Monday, March 7 Mar. 7: QA analyst, compliance, cap. mkts. jobs; servicing, digital, customer service tools; retail lender news

  What is $9,140? It was the production cost, per IMB loan for the 3rd quarter in 2021. (The Q4 2021 results are coming out on March 22.) I bring this...
• Saturday, March 5 Mar. 5: Vendor & 3rd party news; Agencies active in the secondary markets; Saturday Spotlight: American Advisors Group

  Often, I take a break from pure economic & mortgage news on Saturdays and jabber on about whatever. But interest rates have been volatile, and it is worth taking a...
• Friday, March 4 Mar. 4: Sec. mktg., MLO jobs; retention, broker, underwriting, warehouse products; new non-QM wholesaler; Ukraine driving rates

  Yes, it’s March 4th… the only day that is a command for us humans. We thought it was our ability to love that made us human, but it turns out...
• Thursday, March 3 Mar. 3: Compliance, MLO, AE jobs; 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”...
• Wednesday, March 2 Mar. 2: Portfolio, MLO jobs; dashboard, fulfillment, customer service tools; FHA, Ginnie, USDA news; UWM earnings

  Loan originators spend their time making people’s days (unlike this film clip). Builders hope that they make people’s days, and I spent some time this week with building industry expert...
• Tuesday, March 1 Mar. 1: AE, MLO, servicing jobs; U/W, training, retention, profitability products; events & training in the coming weeks

  “Sergeant, can we go for breakfast now?” “March first!” Welcome to March, with Mardi Gras beginning today, Daylight Savings Time on the 13th, Pi Day on 3.14, the Ides on...
• Monday, February 28 Feb. 28: AE, MLO, Bus. Dev. jobs; TPO, processing, CD, internal audit tools; Russian mortgage rates; Ukraine driving our bond market

  I could tell that my cat Myrtle was miffed, and this time it didn’t have anything to do with the CFPB. (Nor me heading to Salt Lake City today for...
• Saturday, February 26 Feb. 26: Primer on Credit Risk Transfers; vendor updates from coast to coast; Saturday Spotlight: New American Funding

  There is nothing funny about Russia’s invasion of Ukraine. The Onion, however, does have a satirical take on the event. As was discussed in yesterday’s podcast, what happens with the...
• Friday, February 25 Feb. 25: MLO, AE jobs; Loan sales, POS, CD, jumbo products; Rocket earnings & industry changes; Ukrainian facts are impressive

  Remember how you wished that the pandemic wouldn’t be in the headlines every day? You got it! Unfortunately, it has been replaced by the Russian invasion of Ukraine, long discussed...
• Thursday, February 24 Feb. 24: Subservicing, webinars, QC, verification, underwriting products; STRATMOR on 2022 trends; Ukraine helping rates, not 401(k)’s

  Greetings from Little Rock, Arkansas (home of cheese dip, 1935)! George Thorogood’s music is alive and well here, and a happy 72nd birthday to he who wrote the lending anthem,...
• Wednesday, February 23 Feb. 23: MLO jobs; processing, margin compression, customer service tools; in-person events & online training fast approaching

  Lending is full of statistics. And originators follow many of them, looking for an edge in finding clients. Last year 27.1 million Americans moved, 80 percent within the same state...
• Tuesday, February 22 2-22-22, Twosday: Ops, AE jobs; retention, profitability, dashboard, data analysis tools; new jumbo & non-Agency programs and news

  While the bond market is watching the world define a Ukrainian “invasion,” do you know why you should respect people who wear glasses? They paid good money to see you!...
• Monday, February 21 Feb. 21: Compliance, MLO, U/W jobs; processing, disclosure, broker tools; conventional conforming changes; fraud report; refi to purchase shift

  The mortgage talk here in Cleveland is how, “Tough times never last but tough people do.” Many estimates have residential production hitting $4.8 trillion in 2021, so is there anyone...
• Saturday, February 19 Feb. 19: Notes on simple cyber security, housing after a disaster, 3-D construction, prepayment speeds; Saturday Spotlight: Sun West

  This morning’s commentary is brought to you from a McDonald’s in Toledo, Ohio. (There’s no housing inventory here, either.) There are all kinds of things going on out there! Cutbacks?...
• Friday, February 18 Feb. 18: AE, MLO, Ops jobs; servicing, accounting, compliance, sales tools; Polly CEO interview on margin compression

  Greetings from wintry Chicago where mortgage rates, as they are across the nation, are back to May 2019 levels. Did you know that the name “Chicago” comes from either a...
• Thursday, February 17 Feb. 17: MLO, CFO jobs; lead gen., database, tax service, non-Agency products; housing starts & building permits attract attention

  I received this from a loan officer in Michigan. “Forget the Serenity Prayer! Grant me coffee to change the things I can, and wine to accept those that I cannot.”...
• Wednesday, February 16 Feb. 16: MLO, Ops jobs; cap. mkts., DSCR, broker products; news from Freddie & Fannie; what is the CDFI program?

  Things change and time passes. A little more than three months ago we “fell back” and now we have less than a month until most states in the U.S. change...
• Tuesday, February 15 Feb. 15: Ops, AE, MLO, sales jobs; sec. mktg., eNote, eVault, servicing products; Feb events & webinars; inflation data continues hot

  Sure, Fannie had $5.2 billion of net income in the fourth quarter of 2021, but money can’t buy you love. Love is more of a chemical reaction than a statistical...
• Monday, February 14 Feb. 14: MLO, FHA jobs; sec. mktg., fee collection, MSR acquisition tools; deep dive into recent rate moves; M&A; fine Valentine video

  Sometimes, someone unexpected comes into your life outta nowhere, makes your heart race, and changes you forever. We call those people cops. (Where did you think that was going?) There...
• Saturday, February 12 Feb. 12: Vendor cash infusion; letters on why bonds did what they did, 2nd home & high bal hits, & Habitat for Humanity

  Here in Florida, and everywhere else, it’s Super Bowl Weekend! (According to my grammar book, “weekend” is capitalized since it is a specific weekend.) In Los Angeles, home to 2022...
• Friday, February 11 Feb. 11: Appraisal, Bus. Dev., COO jobs; vendor mgt., QC, borrower retention tools; CX strategy; Dave Chappelle & affordable housing

  If you see someone buying candy, popcorn, and soda at the movies, they must be a drug dealer… There’s no other explanation for that type of income! Yes, inflation is...
• Thursday, February 10 Feb. 10: MLO, FHA jobs; processing efficiency tools; TPO, non-QM, education products; consumer inflation number pushes 10-year near 2 percent

  Everyone has a story about something they said or asked that they shouldn’t have. “When are you due?” is a good one, as is asking, “When did you turn 60?”...
• Wednesday, February 9 Feb. 9: Ops, AE, MLO, management jobs; subservicing, disclosure, POS , compliance tools; March events; apps slow further

  Today is “National Pizza Day,” a made-up day that wasn’t around when Jimmy Carter was sworn in as president 45 years ago. Back then the yield on the risk-free 10-year...
• Tuesday, February 8 Feb. 8: MLO, FHA jobs; QA/QC, tax & flood service, non-QM, USDA renovation, disclosure products; upcoming training & events

  America’s national debt topped $30 trillion for the first time, according to figures from the Treasury Department on Tuesday. Why might it matter for mortgage rates? When one combines a...
• Monday, February 7 Feb. 7: MLO, management, cap. mkts. jobs; jumbo buyer wanted; sec. mktg, sales, origination, processing tools; jumbo news around the biz

  While brokers have taken note of UWM suing America’s MoneyLine for sending loans to Rocket and Fairway (remember UWM’s policy plainly stated last March), this week I head to Florida,...
• Saturday, February 5 Feb. 5: Primer on the Fed, higher rates, and mortgages; vendor news; Agency deal primer; digital identity tool; women drug humor

  I think that jokes which can be tailored to whoever is President at the time of the Olympics are good jokes. “Speaking of bobsleds, did you hear that the U.S....
• Friday, February 4 Feb. 4: MLO jobs; pricing, non-QM, BI, subservicing tools; processing & pricing shifts; strong employment data shoots rates higher

   Goals are good. Anyone whose goals included bringing back serving alcohol on Southwest flights is happy. It is fine for the Biden Administration to highlight first-time homebuyer and affordable housing...
• Thursday, February 3 Feb. 3: MLO, AE, cap. mkts. jobs; wholesaler wanted; hedge cost, QC, compliance tools; investor FHA changes; approaching in-person events

  Andy Rooney died over ten years ago. Many will say that Bill Mahr has taken his place, albeit with saltier language and a political bent. In this piece, Mahr discusses...
• Wednesday, February 2 2-2-22: Sec. mktg., tech, MLO jobs; hedging, sales, secondary marketing, underwriting products; compliance experts speak out on misconceptions

  Here we are at Groundhog Day. A rodent predicting the weather has little tie-in with the 1993 movie of repeating the same day over and over again. Locks are certainly...
• Tuesday, February 1 Feb. 1: Tech sales, JV, secondary marketing jobs; insurance, customer service, U/W tools; Gov’t products changes of note, inc. FHA application process

  Hundreds of billions of servicing are being bought & sold out there. With Freddie & Fannie servicing trading at 5:1 (mid 3’s for Ginnie servicing), given current rates versus where...
• Monday, January 31 Jan. 31: MLO, AE, corresp. jobs; back office tech., purchase, vendor mgt., MSR acquisition products; early February remote events & training

  While the Northern East Coast digs out from snow, and Southern East Coast is on the lookout for falling iguanas in Florida, how’s this for a clever “out of office”...
• Saturday, January 29 Jan. 29: Full speed ahead on SOFR; vendors raising money & offering new products; Saturday Spotlight: Lender Toolkit

  I could tell my cat Myrtle was miffed last night, and it was probably something other than me moving her from Fancy Feast “Organic Turkey Giblets” to Kroger’s “Chicken Innards”...
• Friday, January 28 Jan. 28: MLO, regional mgr., ops, AE, capital markets jobs; jumbo biz news; podcast interview with Milo CEO on crypto mortgages

  Think you won’t be impacted by anti-U.S. sentiment in Russia? Think again. The Cybersecurity and Infrastructure Security Agency (CISA) issued two alerts to all U.S. companies addressing risks from Russian...
• Thursday, January 27 Jan. 27: National bus. dev, MLO jobs; U/W, non-QM, processing tools; CD tips; conforming conventional shifts; the Fed has spoken

  Overheard in the hallway: “My email got hacked again. That’s now the third time I’ve had to rename the cat.” But there’s a lot of other conversation and session topics...
• Wednesday, January 26 Jan. 26: AE, MLO, Sales, management jobs; webinars, fee collection, vendor mgt. tools; money flowing to vendors; last week’s apps drop

  One conversation topic not in the hallways here at the MBA’s Independent Mortgage Banker Conference in Tennessee is the death of the original voice of Charlie Brown. The huge cost...
• Tuesday, January 25 Jan. 25: Processing, AE, LO, FHA jobs; automation, efficiency, pricing, LOS products; Freddie & Fannie news, soup to nuts

  Numbers are interesting things. “1” is the number of dogs, that I know of, rescued by a drone dragging a sausage and leading the dog to safety out of a...
• Monday, January 24 Jan. 24: AE, Encompass, sales jobs; underwriting, POS, subservicing, lead gen products; webinars & events to wrap up January

  Anyone who’s seen 1968’s “2001: A Space Odyssey” remembers the talking computer HAL (whose name was cleverly derived from subtracting one letter from IBM). We need more acronyms, right?! Here’s...
• Saturday, January 22 1.22.22: Letters on youth in lending, mortgage fraud, and M&A environment; Freddie deals; Saturday Spotlight: Eltropy

  Technology is changing the way homes are built in 2022. Today’s buyers can start the dishwasher from hockey practice or begin a forgotten load of laundry from the office. Being...
• Friday, January 21 Jan. 21: Servicing, MLO, reg. mgr. jobs; pre-qual, vendor mgt., subservicer review, warehouse products; pandemic to endemic?

  As I head to Northern California, I’m sitting here thinking, “Dang. I guess that I shouldn’t have put my entire 401(k) into Peloton stock a year ago,” a great combination...
• Thursday, January 20 Jan. 20: MI, MLO jobs; webinars today; training, automation, broker tools; write up on MLO purchase focus write up

  While there’s plenty of chatter out there about the return of Better.com’s CEO to its helm, and its interesting business model how LOs are supposedly not paid for closed loans...
• Wednesday, January 19 Jan. 19: MLO, pricing, U/W jobs; credit, homebuyer, non-QM tools; LLPA changes & condo news; MLO CE legal settlement

  As I head to Orlando this morning for business meetings, much of the concern is about Treasury yields, with mortgage rates tagging along, climbing to a two-year high. Loan officers...
• Tuesday, January 18 Jan. 18: Warehouse, IT, MLO, AE jobs; automation, digital, home equity CRM products; LLPA perspective; Milo’s crypto-mortgage

  While rates continue higher, from South Carolina comes, “I just got 30 minutes of cardio trying to pick up an ice cube off the kitchen floor.” Plenty of folks on...
• Monday, January 17 Jan. 17: MLO, FHA, CFPB jobs; QC, productivity, compliance products; in-person and remote, soup to nuts events & training

  Our industry continues to take great interest in the indictment of Baltimore’s Attorney General, accused of lying on a mortgage application. Is the “friends and family” treatment alive and well?...
• Saturday, January 15 Jan. 15: Baltimore AG’s mortgage fraud indictment; Fannie’s deals; vendor news; thoughts on the Fed; Saturday Spotlight: New American Funding

  There are all kinds of stuff happening out there! Netflix is raisings its prices. There are fewer wings in a Dominos bucket. A Baltimore attorney general was indicted on charges...
• Friday, January 14 Jan. 14: Due diligence, U/W, reverse, CD jobs; processing, dashboard, CHLA priorities; Comp study; the changing face of the Fed

  It’s Friday, things have slowed down a little bit, and I appreciate you taking a break from Wordle to check out today’s Commentary. Here’s a riddle: What’s bad when it...
• Thursday, January 13 Jan. 13: AE, MLO, cap. mkts., leadership jobs; TPO, fraud, LOS, vendor mgt. tools; housing & inflation; Stearns’ business shut down

  2022 is already off to an “interesting” start. Going directly to the borrower, normally the role of brokers, lenders, MI companies, and other mortgage education sources, Fannie Mae announced that...
• Wednesday, January 12 Jan 12: LO wanted; prospecting, training, eClosing, pre-qual, property data tools; Redfin/Bay Equity deal; Powell & 7 percent inflation

  Most people are paid wages… will raises keep up with an annualized inflation rate of 7 percent? Others may receive a large payout from the sale of their company. Want...
• Tuesday, January 11 1/11/22: AE, MLO jobs; correspondent, sales, automation, vendor mgt. tools; disasters & higher insurance costs

  As freezing temperatures continue on in the Midwest and Northeast, keeping people inside, I doubt if there is a single person in the United States who doesn’t know someone who...
• Monday, January 10 Jan. 10: AE, MLO, Sales, FHA jobs; customer service; digital, referral tools; primer on tight labor market & rate moves

  While Omicron continues to grab headlines, and economists, investors, and Congress grow increasingly wary of the immense U.S. fiscal expansion as evidenced by rates heading higher, here’s a grabber: Inefficiency...
• Saturday, January 8 Jan. 8: Vendor news runs the gamut; letter on youth in lending & tips for lenders; Saturday Spotlight: Homespire Mortgage

  Here we go again… After a period of moderation, lumber prices have nearly tripled in the past four months, adding nearly $19,000 on to the price of a stick-built house....
• Friday, January 7 Jan. 7: Compliance & QC, due diligence, MLO jobs; sec. mktg., processing, referral, automation tools; B2B lawsuits update

  Anyone born around this time is a Capricorn, and if you believe in horoscopes, they are the most patient and careful, and they are down-to-earth for everything. The broad stroke...
• Thursday, January 6 Jan. 6: AE, MLO, Mgt. jobs; contract, conversion, retention, margin mgt. tools; jumbo & non-QM news; rates near 2021 highs

  Today is about the day when you have to think twice about wishing anyone, “Happy New Year.” Okay, maybe tomorrow. There’s a lot of news out there to start 2022,...
• Wednesday, January 5 Jan. 5: HFA, Ops, AE, MLO jobs; non-QM, disclosure, hedging, HELOC & 2nd products; FHA news

  U.S. travelers to Hong Kong have had better days, with Hong Kong banning travel from the U.S. Chicago schools (with over 300,000 students) have had better days as classes were...
• Tuesday, January 4 Jan. 4: MLO jobs; VA cash out, processing, referral tools; Paycheck Protection Program news; why mortgage rates are heading higher

  Years on a trading desk and hedging locked pipelines teaches one that different things move bonds at different times. Right now, rates are still being driven by pandemic news… Yes,...
• Monday, January 3 Jan. 3: MLO jobs, business available; digital, vendor mgt., training tools; January’s wide range of training & events

  Tabrasa’s Patrick H. wishes everyone a Merry New Year! Yes, 2022 is here, with its thousands of cancelled flights due to weather and omicron. Older loan officers tell me that...

• Friday, December 31 Dec. 31: Morsels on gambling psychology, inflation fears, the flattening yield curve, and why mortgage prices are sometimes “sticky”

  A “handsel” is a gift given to wish good luck for the year ahead. The word dates back to the 1300s, and derives from “hand” and “selen,” an Old English...
• Thursday, December 30 Dec. 30: MLO jobs; workflow, vendor mgt., digital processing tools; warehouse bank wanted; Freddie & Fannie news

  Do we have an 8-year memory in an industry with 10-year business cycles? Bridging the gap between affordability, qualifying with a low income, and rising house prices are not issues...
• Wednesday, December 29 Dec. 29: Branch, MLO jobs; pre-approval, business intelligence, non-QM, reno products; workplace COVID changes & requirements

  Would you tie up your money for five years and earn 1.26 percent the whole time? That’s pretty much where the $57 billion 5-year Treasury note auction went off yesterday....
• Tuesday, December 28 Dec. 28: Management, MLO, branch jobs; broker, ECOA, VA cash out products; disaster news; thoughts on yield curve & IMBs

  Whether or not you think that climate change is real, you can’t deny that there is a climate, and that climate-related disasters occur… to the tune of $170 billion this...
• Monday, December 27 Dec. 27: Ops, Bus. Dev., MLO jobs; purchase biz, eNote tools; FHA, VA, Ginnie news; inflation & savings

  I hope that you’re not reading this while stuck due to the thousands of cancelled flights or road closures in Northern California! Kudos to Carol K. who sent, “One thing...
• Friday, December 24 Dec. 24: MLO jobs; VOE product; Like rust, regulators never sleep: CFPB, OCC, NCUA, DOJ news

  From Pennsylvania, Glenn F. writes, “Banks need to get better at restocking their ATMs, especially at Christmas time!! I just left my 5th one that had, ‘Insufficient Funds.’” Even folks...
• Thursday, December 23 Dec. 23: Branch mgr., MLO jobs; Encompass, rehab, CRM products; jumbo, non-Agency, non-QM changes

  When I was a kid, we’d trade baseball cards between each other… at least the ones that weren’t in the spokes of our bikes. The creativity, technique, and outcome has...
• Wednesday, December 22 12-22-21: Consumer direct, MLO jobs; HELOC, broker, POS/LOS products; FEMA news… private flood insurance for FHA loans?

  Yes, you should know that today is a date palindrome. Of course people in Ohio, and Florida, know that Key West is farther west than Cleveland. Utah is farther west...
• Tuesday, December 21 Winter Solstice: MLO jobs; processing, speakers bureau, marketing, subservicing products; conventional conforming changes; Rocket’s acquisition

  If you are a VA lender, or service servicemembers’ loans, you don’t want to be singled out by the Department of Justice or the CFPB. And the two of them...
• Monday, December 20 Dec. 20: JV President, AE, MLO, U/W jobs; Sales, tech, VOE tools; Freddie & Fannie changes continue; omicron & mortgage rates

  W.C. Fields said, “Money will not buy happiness, but it will let you be unhappy in nice places.” Unfortunately, many people have much less of it, and here’s a quiz...
• Saturday, December 18 Dec. 18: Books & videos for last-minute gifts; great anti-hacking tips… disposable emails? Saturday Spotlight: Consolidated Analytics

  I was out cocktailing the other night. (Yes, that is a verb for people in mortgage banking.) I asked someone if they were a member of a wine club. The...
• Friday, December 17 Dec. 17: AE, MLO jobs; mentorship, TPO, QC report, CRM, pooling products; Ginnie: $2.14 trillion outstanding; Fed path set

  Are you afraid of the day that the Federal Reserve stops buying mortgage-backed securities? “Afraid” is too strong a word. (For many, this activity would define “afraid”… kids, don’t try...
• Thursday, December 16 Dec. 16: AMC, sales, secondary, ops jobs; PPE, customer retention, dashboard tools; lender profitability study; rates shrug at faster tapering

  I work hard to live a very glamorous life. I mention this because yesterday, when I sent the Commentary out from the road at a glamorous McDonalds in Northern California...
• Wednesday, December 15 Dec. 15: AE, MLO jobs; Pricing, subservicer, appraisal, jumbo & DPA products; deep dive & primer on the Fed’s discomfort

  California has reinstituted its mask mandate. No one is interested in living in isolation again. Remember, “Your quarantine alcoholic name is your first name followed by your last name.”? Simple....
• Tuesday, December 14 Dec. 14: Data, AI, Encompass, workflow, lead conversion tools; credit tightening; approaching events & webinars; LO comp paper

  No CEO wants to hear from their secretary, “The CFPB is holding for you on Line Two.” Lenders who have different prices in the same MSA? Don’t even try. Got...
• Monday, December 13 Dec. 13: MLO jobs; servicing, closing, AI, MI products; USDA, FHA, Ginnie news; rates quiet… holiday slow down?

  Everyone has a plan until they get punched in the mouth. If you haven’t seen a video (this one from a drone) of the destruction in the South and Midwest,...
• Saturday, December 11 Dec. 11: One swindle’s timeline; vendors merging, raising money, partnering; secondary market deals; an economic riddle instead of a joke

  How are things going, industry-wide? According to Curinos, November 2021 residential mortgage rate-lock volume was down 26% YoY and 5% MoM across all channels, while funded volume decreased 14% YoY...
• Friday, December 10 Dec. 10: Sales, admin., MLO jobs; AI, TPO, warehouse, CRM tools; customer service tip; LIBOR cessation news; FDIC & CFPB tiff?

  When the public sees headlines like, “A Black Couple had a White Friend Show Their Home and Its Appraisal Rose by Nearly Half a Million Dollars,” of course regulators are...
• Thursday, December 9 Dec. 9: MLO jobs; sec. mktg., broker, non-QM, disaster, dashboard tools; VA & FHA changes; how ’bout those jobless claims!

  Want to know who’s in trouble for what? The Consumer Financial Protection Bureau (CFPB) issued its Supervisory Highlights report yesterday, which “shines a light” on legal violations identified by the...
• Wednesday, December 8 Dec. 8: Sales, appraisal, MLO jobs; jumbo, processing, servicing, warehouse tools; Better.com’s woes; deep dive into cap mkts.

  “Dear Santa: This year I would like a) a slim body, and b) a fat bank account. Don’t mix them up like you did last year.” Ah, if only we...
• Tuesday, December 7 Dec. 7: Sales training, VOA, talent acquisition, marketing tools; CFPB trends: No one should compete on compliance!

  Today I head to San Diego for a California MBA Legal Issues & Regulatory Compliance Conference and board meeting, the home base of the Pacific Fleet. It’s been 80 years since Pearl...
• Monday, December 6 Dec. 6: High level correspondent, warehouse, sales jobs; referral, sales, VOE tools; fast-approaching events & training

  Do you smoke weed? Have you been vaccinated against COVID? Too early in the workweek for those questions? (Is it okay to ask if someone’s been vaccinated against polio?) Some...
• Saturday, December 4 Dec. 4: Reminders on LO comp structure; LIBOR transition & ARMs; vendor updates; Saturday Spotlight: The Work Number

  It doesn’t matter if you can buy a house, or fund a loan, in a few hours. When it comes time to remodel, or build an in-law unit, from major...
• Friday, December 3 Dec. 3: MLO jobs; mentoring, recruiting, productivity tools; investor’s FHA, VA, USDA program news; Better.com layoff video

  Huh? Someone told me that “reality” shows are all scripted out ahead of time and there’s a standard recipe! What the heck?! There are some things where recipes are expected,...
• Thursday, December 2 Dec. 2: Marketing, MLO jobs; homebuyer, fee collection, loan delivery tools; conv. conforming changes continue; IMB profits!

  Today, 20211202 (2nd December 2021), is a palindrome in the YYYYMMDD format. That aside, sorry the commentary is a little late this morning: I went out drinking after my yearly...
• Wednesday, December 1 Dec. 1: COO, QC audit, MLO jobs; coaching, jumbo, medical professional products; investors follow conventional conforming limit changes

  Lenders are focused on December, and 2022, and along those lines the MBA’s Chief Economist Mike Fratantoni will be presenting a forecast today for next year. Of immediate concern are...
• Tuesday, November 30 Nov. 30: AE, MLO jobs; ECOA, coaching, title, verification tools; events/training this week; rates driven by bad pandemic news

  Brian C. writes, “I was surprised when I got my new Tesla, instead of the new car smell, it had an Elon Musk.” Tesla was founded 18 years ago. Time...
• Monday, November 29 Nov. 29: Branch mgr., non-QM, Encompass jobs; cash out, warehouse, fulfillment tools; lenders’ capital structuring news

  While headlines move interest rates and countries are shutting their borders again, our industry awaits the official 2022 conforming loan limits after the FHFA’s HPI data is reported tomorrow. We’re...
• Saturday, November 27 Nov. 27: Password trivia; manufactured housing news; crypto marches on; vendor news; deals in the secondary markets

  If someone produces a study on passwords, that must mean they can see yours, right? “Myrtleis1Apexpredator” probably isn’t high on the popularity list. But a new analysis from Nordpass of...
• Friday, November 26 Nov. 26: Jumbo, non-QM, ARM news; rates (and stocks) plummet in thinly-traded market on lousy pandemic news

  As millions of Americans convince themselves that loading and unloading the dishwasher counts as exercise, while we are reminded that rates are impossible to predict when based on headline risk...
• Wednesday, November 24 Nov. 24: Sales leadership, MLO jobs; jumbo, non-QM, credit, processing products; sponsored events; conventional conforming trends

  Ready to play Iowa’s Thanksgiving dinner bingo? Coffee prices are at a 10-year high, but drinkers will figure out what to do to afford it. All day long people tell...
• Tuesday, November 23 Nov. 23: Training, sales, MLO jobs; tech, sales, subservicing tools; fee changes & processing changes around the biz; Fed Chair Powell a “go”

  The price of plenty of things, not just mortgages, is set by supply and demand. Forget the price of turkey… how ‘bout Christmas trees?! I don’t know how Christmas tree...
• Monday, November 22 Nov. 22: Servicing, AE, LO, FHA jobs; FHA cash out, pre-approval letter, VOE, digital products; in-depth look at forces moving rates

  Time flies. For example, Thanksgiving week is here already. Debbie Harry, of Blondie fame, is 76 years old. Better.com has already been around five years. No lender wants to see...
• Saturday, November 20 Nov. 20: IMBs and CRA; letter on the inner workings of appraisers & AMCs: who, why, what, fees, and alternatives for appraisers

  Thank you to Glenn F. who sent, “My sister-in-law will make what she makes every year for Thanksgiving: A scene!” Lenders have much to be thankful for as we head...
• Friday, November 19 Nov. 19: Business opportunities, MLO, AE jobs; del, non-QM products; Remember the False Claims Act? European lockdown driving rates

  Before we gear up for reported Christmas tree shortages and their exorbitant prices, Brent G. writes, “My family asked me what I was planning for Thanksgiving. ‘Having four margaritas before...
• Thursday, November 18 Nov. 18: Ops, HR, MLO, jobs; cap. mkts., comp, social media products; tech change study; dive into housing starts, Fannie’s 2022 forecast

  Recently the podcast, its link at the bottom of this opening paragraph daily, quoted, “Change in residential lending is mandatory; progress is optional.” Technology, volume, personnel, the list goes on....
• Wednesday, November 17 Nov. 17: L1 jobs; customer service, jumbo, pricing tools; nCino/SimpleNexus $1.2 billion deal; events to wrap up November; climate change humor

  29 working/business days left in 2021. Some MLOs, who can shift their client’s refi closings, are thinking about the tax implications of closing this year or next. Everyone is dealing...
• Tuesday, November 16 Nov. 16: Reverse jobs; TPO loan, e-signature, sales, automation, U/W products; lenders & loan amounts; inflation & retail sales driving rates

  “Poor man wanna be rich, rich man wanna be king, and the king ain’t satisfied ‘til he rules everything.” I mention this, not to point out what Bruce was up...
• Monday, November 15 Nov. 15: Finance, AE, MLO, U/W jobs; Sales, automation, VA cash out products; inflation & rates; Freddie & Fannie updates

  This morning I head to Kansas for the MBAKC annual membership luncheon later this week. Home price appreciation is doing just fine in Kansas City, and has been for quite...
• Saturday, November 13 Nov. 13: Letters on appraisers and AMCs; vendors & new products; Saturday Spotlight: HouseCanary

  Did you know?! By replacing your morning coffee or cocoa with herbal green tea, you can lose up to 90 percent of what little joy you still have left in...
• Friday, November 12 Nov. 12: AE, MLO, title franchise opportunities; eClose, TPO, operations efficiency tools; events and training into 2022

  Forget mortgages… As snow hits the Upper Midwest and rain hits the East Coast, according to the USDA, nationwide frozen turkey inventories are 24 percent below the average three-year volume....
• Thursday, November 11 Veteran’s Day: MLO, sales jobs; TPO products, automation, sales tools; digital survey; compliance news: CRA, M&A, complaints

  Happy Veteran’s Day (the 11th hour on the 11th day of the 11th month of 1918…), where veterans around the nation are honored (as well as enjoying discounts at many...
• Wednesday, November 10 Nov. 10: MLO jobs; securitization, MSR, analytics, desktop appraisal products; credit availability numbers; mortgage apps increase

  I recently spent some of my day receiving a COVID test, and the nurse asked me, “Have you had a sudden loss of taste?” I replied, “No, I’ve always dressed...
• Tuesday, November 9 Nov. 9: Ops, MLO, AE jobs; tech, sales, risk mgt. tools; TPO/wholesaler news; Fed turnover spelled out

  I worked on a trading desk for many years, hedging locked pipelines across a wide variety of lenders. During slow times we’d talk about all kinds of things, like does...
• Monday, November 8 Nov. 8: MLO jobs; VA cashout, HELOC servicing, bilingual tools; disaster updates; jumbo & non-QM morsels

  Starting today I’m in Oklahoma City for the OMBA Conference. The median home price here is roughly $150,000 and housing prices are up nearly 7 percent in the last year,...
• Saturday, November 6 Nov. 6: Letter on AMC accountability; vendor soundbites; Saturday Spotlight: Indecomm; consulting humor

  Not everyone has a mortgage, but everyone is impacted by time and the sun. Come tomorrow, Sunday at 2:00 a.m. EST, Daylight Saving Time is coming to an end. An...
• Friday, November 5 Nov. 5: Ops & Sales mgt. jobs, team available; automation, processing, title, due diligence tools; FHA & VA news; the Fed & rate increases

  Nothing brings women together quite like an unclear dress code. Dress codes have been all over the map during the pandemic, and as companies adjust to having everyone come back...
• Thursday, November 4 Nov. 4: Cap. mkts., MLO, U/W jobs; hedging, compliance, sales tools; Fed’s tapering & mortgage rates

  Excuse me while I rant a bit. Let’s throw some money questions your way on a Thursday. Do you have any Rice Krispies at your store? If you do, buy...
• Wednesday, November 3 Nov. 3: MLO, DTC jobs; borrower-centric, purchase, medical professional products; investors’ Agency news

  Real estate investors, agents, and lenders were keenly interested in Zillow’s earnings call yesterday. Those of us listening in learned that the company is ending its home-flipping business and will...
• Tuesday, November 2 Nov. 2: Training & events, secondary marketing, automation, U/W tools; loan amount breakdown; Agency news never stops

  No tree grows to the moon, right? You may not be alone if you are seeing a few more “For Sale” signs in your neighborhood, and those signs may be...
• Monday, November 1 Nov. 1: MLO jobs; Cap. mkts role wanted; HELOC, processing, MSR products; extensive range of training & events coming up

  November already? A feast for giving thanks for the harvest began in 1621, and was celebrated intermittently by various colonies/states for the next 240 years. The first national Thanksgiving Day...
• Saturday, October 30 Oct. 30: HUD & operating losses, forbearance agreements; vendor news; Fannie deals; Saturday Spotlight: First Federal Bank

  It’s already the kind of day where I wish tequila came out of my shower. To be blunt, are people becoming dumber? We’re reminded of how MLOs earn their money...
• Friday, October 29 Oct. 29: Warehouse, JV, MLO, DTC jobs; digital, sales, non-QM webinars; Rohit & the CFPB on the move; big-name mortgage co. earnings

  I got some exciting news yesterday: Snickers are gluten free! Actually I don’t care (the more gluten the better… does the government allow us trick or treating?) but figured I’d...
• Thursday, October 28 Oct. 28: AE, LO jobs; Cap. mkts., compliance, homebuyer, pre-approval products; Fair Lending & compliance are in vogue

  I have to go to Target later today to buy Halloween candy because I went to Target last week and bought Halloween candy. Get it? Here’s another question: In the...
• Wednesday, October 27 Oct. 27: MLO jobs; TPO loan products; MBS, presentation, jumbo, business plan tools; primer on conforming loan amounts

  While huge blocks of servicing are hitting the market, Cenlar has had better days than yesterday. (“We take seriously our regulatory obligations and we are working with the OCC to...
• Tuesday, October 26 Oct. 26: MLO, AE jobs; sales, retention, processing, automation tools; tech spend study; Agency updates; disclosing ghosts?

  Lenders and servicers don’t like weather extremes. Hurricane season is nearly over. While the East Coast is bracing for a storm, however, it’s feast or famine in the West, when,...
• Monday, October 25 Oct. 25: MLO jobs; decisioning, retention, sales, processing tools; report on discrimination; perspective on Fed tapering

  Given my emails and hallway chatter in San Diego last week, what’s on people’s minds? The state of the housing market is one, and Ivy Zelman, CEO of Zelman &...
• Saturday, October 23 Oct. 23: Residential third-party provider news runs the gamut; Saturday Spotlight: PacRes Mortgage; Halloween humor begins

  Do you think putting together a loan is tough? How ‘bout a giant skeleton in your front yard? This dedicated individual has documented the process of his spooky creations on...
• Friday, October 22 Oct. 22: MLO jobs; BI, HELOC, joint venture, sales tools; bank market share study; upcoming events; jumbo news

  Semper Fi! Tomorrow marks the 38th anniversary of the 1983 bombing in Beirut of a U.S. Marine barracks in the largest conventional explosive blast in history killing 241 Americans. San Diego...
• Thursday, October 21 Oct. 21: Recruiting, MLO jobs; processing, automation, pricing, MSR sales, non-Agency products; vendors to watch; wholesaler shifts

  Thousands of people in the residential lending biz headed to the San Diego aerodrome and flew home. Plenty were sore from wearing dress shoes everywhere, although I saw plenty of...
• Wednesday, October 20 Oct. 20: MLO, AE jobs; cap. mkts role wanted; Sales, retention, recruiting tools; processing shifts; F&F in-person appraisal tweak

  Continue reading Source: Rob Chrisman
• Tuesday, October 19 Oct. 19: Call center, LO jobs; post-closing, broker CRM, correspondent products; conference snippets; weak housing numbers

  The MBA’s conference, which began with a capacity crowd at mPower, is packed with meetings and sessions, and I am sure glad that I’m not going between them in heels!...
• Monday, October 18 Oct. 18: LO jobs & transitions; broker, credit, debt recovery, reverse mortgage products; Redwood results; wholesaler M&A and news

  One discussion topic here at the MBA’s annual conference, besides how rates are pressing higher, is how wonderful the San Diego weather is. But there are much better places to...
• Saturday, October 16 Oct. 16: Lender LIBOR transition update; advice for those in our biz; vendor M&A and new products; Saturday Spotlight: BeSmartee

  At the MBA’s annual conference some would say that a year like we had in 2020, and the first half of 2021, is surprising, but not as surprising as, say,...
• Friday, October 15 Oct. 15: MLO jobs; cap. mkts., analytics, decisioning, fee collection tools; processing changes; primer on tapering numbers

  Life is full of decisions. One space or two after a period in a sentence? Move to a state with no state income tax, or stay put? Wells Fargo is...
• Thursday, October 14 Oct. 14: AE jobs; loan, U/W, compliance, business intelligence products; condo & co-op Agency news; good jobs data

  Labor strikes are back in the news, but this time of year is breast cancer awareness month. Did you know that 1 in 8 women get breast cancer, and it...
• Wednesday, October 13 Oct. 13: AE jobs; MBS quote, borrower, processing, TPO, eClose products; conforming conventional changes continue

  Those heading to the conference in San Diego should pack stylish, yet sensible, shoes given the amount of walking. (Today’s audio version of the commentary is available here and includes...
• Tuesday, October 12 Oct. 12: LO, cap. mkts. jobs; automation, credit, processing products; conforming conventional news; new Redwood Trust deal

  People ask me for advice all the time. For example, I tell guys, “Don’t ask your wife when dinner will be ready while she’s mowing the lawn.” With the move...
• Monday, October 11 Oct. 11: MLO jobs; Events this week; U/W, sales, VA/FHA purchase, reverse products; primer on supply chain issues & rates

  Ronald Reagan said, “Money can’t buy you happiness, but it will certainly get you a better class of memories.” Money can buy plenty of things… If those things are available....
• Saturday, October 9 Oct. 9: New employee industry advice; September lock stats; Agency deals; vendor news; Saturday Spotlight: LBA Ware

  I received this note from Glenn Freezman: “Rob, I can’t believe it’s that time of year again when I have to rake all the leaves from my lawn to my...
• Friday, October 8 Oct. 8: Sales jobs; LO, customer, non-owner, CRM UW productivity products; conforming loan amount fun; spate of lawsuits

  Monday is federal holiday, and banks and bond markets are closed so any hedging of locks from companies (that are open Monday) will happen today. The definition of the word...
• Thursday, October 7 Oct. 7: Title, AE, MLO, Ops jobs; MBS quote, trading, jumbo, warehouse products; conventional conforming changes continue

  The human brain is an amazing thing. Some readers can instantaneously identify the song, and album, if I only said, “Play it pretty for Atlanta.” Others may enjoy the 20...
• Wednesday, October 6 Oct. 6: MLO jobs; business opportunity; reno, pricing, sales, customer service, processing tools; primer on conforming loan amounts

  This budget thing is out of control. In a blow to privacy, did you know that the proposal would require banks, credit unions, etc., to report to the IRS any...
• Tuesday, October 5 Oct. 5: MLO jobs; sales, processing, automation, MSR valuation tools; events & training: MBA Annual hits 3,000

  Paul P., writes, “Hope is a good companion but a poor guide.” But the nation is hoping that the share of loans in forbearance continues to decline. And it is....
• Monday, October 4 Oct. 4: MLO, FHA jobs; sec. mktg., DPA, sales, MSR products; disaster news; jumbo/non-QM snippets; Tech survey

  Residential lending is filled with technology shifts. (STRATMOR is offering up technology survey results below.) I am a luddite when it comes to that stuff. Watching the Georgia game Saturday...
• Saturday, October 2 Oct. 2: Supply & demand in real estate; advice for newbies in our biz; personnel moves; Saturday Spotlight: Spring EQ

  Remember the foreclosure tidal wave that experts thought was going to devastate real estate around 2010-2012? It never happened. In a similar fashion, the forbearance policies and numbers don’t appear...
• Friday, October 1 Oct. 1: MLO jobs; loan products; purchase, CU, servicing, warehouse tools; FHA & USDA moves; rates treading water

  Although most states don’t “fall back” and change the clocks until November 7th, losing 3-4 minutes of daylight a day is now readily apparent, and it’s that time of year...
• Thursday, September 30 Sep. 30: Management, TPO, MLO jobs; non-QM, jumbo, rate sheet, pooling products; impending events & training

  The end of the third quarter is here already. The fate of Fat Bear Week hangs in the balance given the possible government shutdown. (Although the odds of a shutdown...
• Wednesday, September 29 Sep. 29: Ops, MLO jobs; direct marketing, non-QM, TPO, servicing products; CECL primer for lenders: don’t ignore it

  Why is breakfast in bed “luxurious” but breakfast, lunch, and dinner in bed is labeled “depression?” That’s something to consider. Today there’s so much to consider, I don’t know where...
• Tuesday, September 28 Sep. 28: AE, MLO jobs; automation, sec. marketing, sales, non-QM products; USDA & FHA news; rates grind higher

  Seen on a chalkboard outside a bar: “Beer shortage coming soon. Panic buy here!” Moving from booze to bonds, thinking that the Fed would buy $5 billion a day of...
• Monday, September 27 Sep. 27: MLO jobs; Capital markets, sales, tech, jumbo, debt recovery tools; disaster news; 10-year hits 1.50

  I could tell that my cat Myrtle was miffed Sunday. I’m sure that she, given her position at the top of the food chain, believes that I shouldn’t be watching...
• Saturday, September 25 Sep. 25: A bitcoin primer for dummies like me; Afghan football humor; Saturday Spotlight: Shamrock Home Loans

    A Rhode Island home, whose purported history of paranormal infestation made it the inspiration for the film The Conjuring, has hit the market for $1.2 million. Close by Halloween!...
• Friday, September 24 Sep. 24: MLO jobs; whole loan trading, servicing, digital, jumbo, automation products; conforming conventional updates; a clever “joke”

  First off, my apologies to Ernest Hemingway whose name I mistakenly wrote as “Earnest.” Thank you to those who pointed that out. Second… Okay… I see my share of clever...
• Thursday, September 23 Sep. 23: MLO, Ops jobs; blockchain, compliance training, consumer complaint products; mortgage M&A; Fed weighs in

  This morning the Mortgage Bankers Association’s Research Institute for Housing America (RIHA) released, “The Impact of Climate Change on Housing and Housing Finance.” Whether or not you believe in it,...
• Wednesday, September 22 Sep. 22: MBA, LO, AE jobs; non-QM, jumbo, BPO, BE/mand, sales products; whole loan/PSPA execution change

  Once a week it is Wednesday… but this one is noteworthy. An equinox is the instant of time when the plane of Earth’s equator passes through the geometric center of...
• Tuesday, September 21 Sep. 21: Sales, MLO jobs; education, tax, sales, pre-qual, licensing products; lender stock prices; events; forbearance improvement

  A sign in the window reads CURED MEATS. Inside, a salami takes his first steps since the accident. A prosciutto learns to forgive. There are all kind of things going...
• Monday, September 20 Sep. 20: MLO, Controller jobs; Servicing for sale; subservicing, sales, reverse products; events & training; California’s zoning change

  Someone asked me if I had plans for the fall. It took me a moment to realize they meant “autumn,” not the collapse of civilization. Lots of folks are keeping...
• Saturday, September 18 Sep. 18: Thoughts on equity & default, advice for minorities; vendor updates: Saturday Spotlight: Service 1st

  Arrgh…. Everyone knows that Talk Like a Pirate Day is tomorrow. Why couldn’t the pirates play cards? Because the captain was standing on the deck! Here in Los Angeles at...
• Friday, September 17 Sep. 17: MLO, Dir. of Sales, Controller jobs; HELOC, DPA, blockchain, CRM, sales tools; FHA & VA news; PSPA thoughts

  Some things stick with you, some don’t. Many of the topics covered here in Atlanta’s NAMMBA Connect 2021 will stick with folks since they mirror what various companies have their...
• Thursday, September 16 Sep. 16: AE jobs; cap. mkts exec available; lock desk, VOE, sales, reporting tools; more conf. conv. changes; remote events today

  I’m getting old. I can remember the lyrics from a Steppenwolf song that I haven’t heard in 20 years but I don’t remember what I had for lunch yesterday. I...
• Wednesday, September 15 Sep. 15: AE, MLO jobs; jumbo, non-QM, retention, LOS products; FHFA’s welcomed policy pause on restrictions

  How ‘bout some random Q&A for Hump Day? Did you know that almost 2,400 of your co-workers are already registered for the National MBA conference next month in San Diego?...
• Tuesday, September 14 Sep. 14: AE, MLO, client service jobs; MSR, automation, app integration, warehouse, TPO products; forbearance numbers drop again

  When Miley Cyrus licks a hammer and dances around naked, it’s considered “art.” When I tried it, I got kicked out of Home Depot. Go figure. How is your company...
• Monday, September 13 Sep. 13: Regional, MLO jobs; processing, blockchain, O&E, fix & flip, reverse mortgage products; wholesalers & appraisals

  On HGTV, people can flip a whole house in a month. Meanwhile, I’ve been “getting ready to vacuum” for a week now. There isn’t a lot of mirth in residential...
• Saturday, September 11 Sep. 11: Must read “joke”; Vendor news snippets; Women provide career advice; Saturday Spotlight: Supreme Lending

  What happens when you mix religion, politics, and health? Lenders and vendors may want to skim through United Airlines’ new policy. And here’s a tip for anyone who enjoys the...
• Friday, September 10 Sep. 10: AE, MLO jobs; exec looking for role; POS/LOS, automation, fulfillment, non-QM products; Wells Fargo’s C&D order

  Thank you to Virginia’s Marc A. who, after reading my comment about companies keeping customers on hold due to “higher-than-normal call volume,” sent a note suggesting, “How great would it...
• Thursday, September 9 Sep. 9: Ops, MLO jobs; lender wanted; MBS trading, CRM, non-QM, processing products; lots & lots of upcoming events!

  I don’t think I’ve ever made a call, in recent years, to any number that wasn’t “experiencing high call volumes…” Owners of lenders are certainly fielding plenty of incoming calls....
• Wednesday, September 8 Sep. 8: AE jobs; eClose, subservicing, processing, workflow, retention tools; TPO loan products

  If you wait long enough to cook dinner, everyone will eat cereal. Follow me for more recipes! It’s a good time to be long real estate, and one recipe that...
• Tuesday, September 7 Sep. 7: Non-QM, AE, MLO, FHA jobs; eVault, portfolio products, automation, closing cost products; training & events this week

  Yes, it’s Tuesday already. Good morning to everyone except my wife who, at 2AM, mid-dream, sat bolt upright in bed and terrifyingly shouted into the dark, “Will there be a...
• Saturday, September 4 Sep. 4: Note on compliance, affordable housing, demographics & housing; Saturday Spotlight: Thrive Mortgage

  A government’s interest in housing isn’t confined to the United States. For example, there’s this story about Ireland’s plan which, “…includes a guarantee of 20 billion euros ($24 billion) of...
• Friday, September 3 Sep. 3: Bus. Dev., DTC, AE, corresp. jobs; marketing, processing tools; Conforming conventional program changes; jobs data & rates

  “It was the third of September, that day I’ll always remember… Papa was a rolling stone… Wherever he laid his hat was his home. And when he died, all he...
• Thursday, September 2 Sep. 2: Corresp. mgt., AE, MLO jobs; pricing, cap. mkts., sales tools; appraisal M&A; disaster updates; comp survey

  “Yeah, I think I’ll put up some plywood and buy some water and just wait out this supposed hurricane. Those scientist/weather people are just exaggerating things.” Forgetting parallel comments about...
• Wednesday, September 1 Sep. 1: MI, MLO, multi-family jobs; HELOC, non-QM, sales, compliance products; bank-mortgage M&A; Agency news

  Overheard recently: “I just want a man who will make me laugh as we count his family’s money on his rock-hard abs.” Lenders are doing okay, money-wise, as we put...
• Tuesday, August 31 Aug. 31: MI, MLO jobs; fee collection, MLO CE, marketing, sales, UW tools ; FHA, USDA, Ginnie, VA changes

  I received some exciting news that I wanted to share with my readers. I received an invitation from a mortgage periodical to receive an award, if I paid $500, as...
• Monday, August 30 Aug. 30: Ops, MLO jobs; wholesale products; sales, CRM products; disaster updates; upcoming training & events

  The Texas Mortgage Bankers Association conference is in full swing. Folks tell me that servicing is a big topic in informal hallway discussions. MCT data indicates that lenders are selling...
• Saturday, August 28 Aug. 28: Tech & vendor news; Letters on MLO compliance, appraiser comp, advice for newbies; Saturday Spotlight: Symmetry Lending

  “I woke up this morning determined to drink less, eat right, and exercise. But that was two hours ago, when I was younger and full of hope.” There are some...
• Friday, August 27 Aug. 27: Legal, private MI, MLO, Management jobs; renovation, blockchain products; MLO education trouble, RESPA settlement

  Last night, my wife asked me if I’d seen the dog bowl. I replied, “I didn’t know he could.” Words are important, and the press is spending plenty of them...
• Thursday, August 26 Aug. 26: MLO, AE jobs; cap. mkts., advertising regulation, PPE, marketing, broker tools; tech funding; purchase biz study for MLOs

  What parent hasn’t heard, “Are we there yet?” from the back seat during a road trip? The same could be said about Fannie Mae and Freddie Mac, the Government Sponsored...
• Wednesday, August 25 Aug. 25: MLO jobs; eClose, AI underwriting, broker, warehouse products; investors react to Agency changes

  In the various originator-centric conferences I’ve attended, I’ve never seen a session on, “How to beat up your capital markets group on pricing & extensions.” Here at the California MBA’s...
• Tuesday, August 24 Aug. 24: MLO, AE jobs; Chatbot, processing, automation, trailing doc tools; non-Agency securitization numbers

  Worried about your privacy? You should be. Illinois’ Lemonade, an AI-enabled provider of homeowners and renters insurance, was hit with a privacy class action Friday over its alleged collection and...
• Monday, August 23 Aug. 23: Ops, MLO jobs; whole loan sales, jumbo, QC, home buying education products; Freddie & Fannie changes don’t stop

  Fires in California, floods in Tennessee, hurricanes in New York, COVID hospitalizations seemingly everywhere written up by the press. The “fun” never ends. Here in Orange County, at the California...
• Saturday, August 21 Aug. 21: Vendors raising money; Letters on MLO comp & small loans, recruiting 101, and career advice from women & people of color

  Under the banner of “notes from brokers that they wish reached the eyes of decision makers,” I received this one yesterday. “I saw your note of FHFA’s affordable housing goals...
• Friday, August 20 Aug. 20: Sales mgt., MLO jobs; HELOC, warehouse, blockchain, licensing tools; news on jumbo & non-QM products

  Who wants to work on a Friday in summer? Not me! I was pleased to find the Type The Alphabet Game, which times you on how fast you type the...
• Thursday, August 19 Aug. 19: CU, MLO, U/W jobs; margin tracking, pooling, digital, title products; Fed’s asset purchase shift? Saudi MBS market kicks in

  So you say that you never learn anything by reading this Commentary? How about Wile E. Coyote’s middle name? His first name is an obvious pun on the word “wily.”...
• Wednesday, August 18 Aug. 18: Corresp., MLO jobs; flood, warehouse, jumbo, non-QM, VOE products; FEMA news; leisure & the economy

  Technology is nice (the latest bit being UWM’s goal of accepting bitcoin by year end; magnetic strips on credit cards are going away), but our industry continues to seem to...
• Tuesday, August 17 Aug. 17: Brokers wanted, MLO jobs; webinars of note; warehouse mgt., automation, reverse products; comp survey; rates slide

  The 10-year yield back down to 1.24 percent!? Watch those early pay off penalties. Along those lines, are you servicing loans? Mind your p’s and q’s, and then some. The...
• Monday, August 16 Aug. 16: MLO, AE jobs; Events & training this week; AMC, CRM, jumbo, pre-qual products; UWM 2nd quarter earnings

  People ask me what I do when I finish the commentary and send it out. This will give you an inkling. I don’t know if folks at United Wholesale do...
• Saturday, August 14 Aug. 14: New companies raising $ and turning heads; letter on rate lock accounting; compliance joke; Saturday Spotlight: Monster Lead Group

  Despite universal complaints about the appraisal process, in my travels it seems that most lenders and vendors are doing well, believe that a very good first half of the year...
• Friday, August 13 Aug. 13: Customer service, AE, MLO, sales mgt. jobs; LOS, sales, workflow tools; lender earnings dissected: what is an IRLC?

  As potential buyers of odd properties cogitate on Boston’s Skinny House (reportedly built to spite the owner’s neighbor & brother), and our industry mulls over Fannie’s decision to include rent...
• Thursday, August 12 Aug. 12: MLO jobs; securitization, social media monitoring, CFPB servicing analysis, retention tools; MLO/customer service tips

  “I hope that I never go to jail because I haven’t memorized a phone number since 2001.” (Speaking of numbers, investors are mulling over Guild’s 2nd quarter earnings and it’s...
• Tuesday, August 10 Aug. 10: DTC opportunity; Cap. Mkts., AE, MLO jobs; efficiency, automation, docs products; upcoming training & events

  It was one week ago that the “benchmark” 10-year yield hit 1.17 percent. Now we’re back up to 1.32, the same yield that we saw for much of early and...
• Monday, August 9 Aug. 9: Corresp., AE, MLO jobs; diversity, VA, pricing, servicing products; Freddie’s renovation product & Fannie updates

  Last week I was in Orange County, CA at the Insellerate Experience Summit 21, and this week I am 2,500 miles away in Orlando, FL at the Lenders One Summit....
• Saturday, August 7 Aug. 7: Letter on MLO customer service; Freddie, Fannie, Rocket, Zillow capital markets deals; Hooters’ refi

  Rates are great, lender’s volumes are still solid, but how many of you out there are hearing this from veteran originators? “Mortgage life is busy, but it is ‘getting ready...
• Friday, August 6 Aug. 6: Business wanted; AE, MLO jobs; warehouse, broker products; FHA & loan mods; strong jobs data moving rates

  We live in world of numbers. It has been 76 years since an atom bomb was dropped on Hiroshima. Let’s hope nothing close, with its 140,000 instantaneous deaths, ever happens...
• Thursday, August 5 Aug. 5: Corresp., Ops, AE, Sales Mgt. jobs; pricing, trading, non-QM, processing, QC, sales tools; August events & training

  “Why was the mortgage so depressed? Because it was a loan.” Yes, cutting-edge humor like that is why you read this commentary. No MLO should be depressed, especially when it...
• Wednesday, August 4 Aug. 4: MLO, Ops, AE jobs; processing, analytics, jumbo, underwriting tools; M&A and news from the wholesale channel

  WalletHub released its 2021 Home Overleverage Report after determining where homeowners have the most unsustainable mortgage debts. WalletHub compared the median mortgage debt to the median income and median home...
• Tuesday, August 3 Aug. 3: A key hire, MLO jobs; hedging, sales, education, automation, processing tools; FHA & VA news

  As the industry digests Fannie Mae’s earnings announcement this morning with its $7.2 billion of net earnings in the second quarter of 2021, did you know that 79 percent of...
• Monday, August 2 Aug. 2: QM & non-QM AE, MLO jobs; verification, non-QM, HELOC products; events & learnin’; how ’bout these rates!?

  Who predicted that we’d be at 1.22 percent on the 10-year yield to start August? And 30-year fixed-rate mortgages still chopping around in the high 2 percent area? Or that...
• Saturday, July 31 July 31: Changing thoughts on analyzing credit; vendor updates run the gamut; Saturday Spotlight: Bonzo

  Why focus on mortgage banking when there is a lot of exciting news coming out of the Olympics? For example, the reporter asking the swimmer about his phenomenal third leg?...
• Friday, July 30 July 30: AE, Sales, MLO, Ops jobs; whole loan trading, CRM, renovation products; Freddie & Fannie changes never stop

  Yesterday I received this note from Tennessee. “Rob, thank you for the commentary, as always. Among several noteworthy items in yesterday’s, one thing stood out. ‘NAR has 1.5 million members...
• Thursday, July 29 July 29: AE, MLO jobs; MBS delivery, processing, data breach tools; Redwood Trust earnings; ugh: weak GDP number

  Mission Statements are so passe. We now have “long term vision statements.” For some, great literature consists of the Bible, or Moby Dick. For others of limited intelligence, like me,...
• Wednesday, July 28 July 28: AE jobs; processing, pricing, retention, sales tools; Ginnie, FHA, VA changes; why mortgages paying off early matters

  I didn’t sign up for a 401k. I can’t run that far. Understanding numbers is important, as is accurately reporting them. For example, yesterday I mistakenly noted that the TMBA’s Annual...
• Tuesday, July 27 July 27: Nat’l sales, MLO jobs; sec. mktg., retention, workflow, doctor, automation programs; upcoming events & conferences

  With Simone Biles’ injury at the Olympics, let’s shift our attention to lending & housing. Have you ever asked someone, especially a politician, for the definition of “affordable housing”? Maybe...
• Monday, July 26 July 26: MLO, corresp. & wholesale AE jobs; subservicing, tech, jumbo, retention tools; disaster news coast to coast

  The headline this morning is seven people dying in a car crash caused by a Utah sandstorm. The damage caused by storms, including hurricanes in the East and fires in...
• Saturday, July 24 July 24: Readers weigh in on handling of adverse market fee change; vendor bits; Saturday Spotlight: Interfirst Mortgage

  As mortgage rates currently continue to “behave themselves,” lenders continue to focus on helping customers, improving efficiency, and monitoring the technology offerings by vendors with an eye on price. Meanwhile...
• Friday, July 23 July 23: HR, post-closing, controller, MLO jobs; NOO, HELOC, processing tools; Florida fraud case; LendingClub fee settlement

  How do you know when someone has too much money? How about when they pony up $16k for Tarzan’s 1932 loin cloth? (“Gosh, if that loin cloth could talk…”) LendingClub...
• Thursday, July 22 July 22: MLO, Ops jobs; tech, hedging, advertising compliance products; STRATMOR on customer experience; non-Agency updates

  How would you like to compete against a company whose tagline is, “We Do It All, Guaranteed!”? The program is part of an existing Weichert Realtors’ offering called “All Under...
• Wednesday, July 21 July 21: MLO jobs, lenders wanted; U/W training, best ex optimization, jumbo products; STRATMOR & customer service; upcoming virtual events

  Experienced mortgage loan originators (MLOs) know that a rate lock is a rate lock. The removal of the adverse market fee of .5 for conventional conforming refis above $125,000 has...
• Tuesday, July 20 July 20: Corresp., MLO, AE jobs; marketing, sales, broker, originator, social media tools; STRATMOR tech survey

  It was bound to happen: My cat Myrtle and I came to blows. She wanted to spend her trust fund money, earned on the catwalk in her prime, to pay...
• Monday, July 19 July 19: AE, MLO, Ops jobs; tech training, MSR, text marketing, anti-fraud tools; goodbye Adverse Market Fee; rates continue down

  “My password is weak? Well, so is my memory, so cut me some slack and let me keep it!” What isn’t weak is the bond market, and rates continue down....
• Saturday, July 17 July 17: Letters about lenders & AMCs, workplace equality, and cybsersecurity for small businesses & individuals; Saturday Spotlight: Usherpa

  With the FHFA .5 refi news yesterday, if you’re a broker who has locked a refinance with Wholesaler A, and been charged a .5 refi hit, and Wholesaler A won’t...
• Friday, July 16 July 16: Controller, AE, MLO jobs; ECOA, referral, broker, warehouse products; correspondent & wholesale news around the biz

  I am sure that there are people who read this commentary who firmly believe that the earth’s climate is not changing, and believe that historical graphs of temperatures in places...
• Thursday, July 15 July 15: MLO jobs; pricing, execution, retention, trailing doc, referral products; HUD, Ginnie, FHA/VA news

  Ask any manager. It was much more fun to announce, “We’re hiring!” than it is to mutter, “We’re laying off.” Currently there are plenty of rumors about lenders, both publicly...
• Wednesday, July 14 July 14: Corresp., MLO jobs; jumbo, non-QM, VOE, warehouse products; Freddie & Fannie changes; more inflation numbers

  Technology and digitalization move forward. I read somewhere that soon they’ll have digital numbers. Amazing! Who can keep up? (On a side note, did you know that no number from...
• Tuesday, July 13 July 13: Ops director job; capital markets, underwriting, processing, non-QM, mobile products; Better’s overseas acquisition

  When one thinks of a Constitutional Amendment, many think of the 2nd amendment (right to bear arms, 1789), 13th (end of slavery, 1865), or the 16th (creation nationwide income taxes,...
• Monday, July 12 July 12: AE, MLO, Ops jobs; retention, credit, underwriting, subservicing products; training & events in the next few weeks

  I head to San Diego today for the CAMP event as the industry continues to change back to in-person events. There is always change. (How’s that for an understatement to...
• Saturday, July 10 July 10: Notes from readers on how hacking works, credit scores & default risk, LOs & social media, AMCs; Saturday Spotlight: Sourcepoint

  Renegotiations, watching LOs’ social media profiles, cost cutting & efficiency, appraisal delays, hacking and ransomware (with U.S./Russian headlines this morning)… lenders have a lot on their plates. But overall business...
• Friday, July 9 July 9: Call center, CD, AE jobs; referral, non-Agency, warehouse products; Agency changes continue; rates take a breath

  Someone once said, “A loss is not a failure until you make an excuse.” You can apply that to politics or to sports. Or to business. No company wants to...
• Thursday, July 8 July 8: MLO, broker, RE Agent opportunities; wholesale & broker, lock desk products; layman’s look at downward move in rates

  I head to Salt Lake City today, and on the way to the airport thought to myself, with all the technological and scientific advances being made, the folks at Wrigley...
• Wednesday, July 7 7/7: MLO jobs; UW, fee reduction, jumbo, dashboard, processing tools; state regulatory shifts; rates waiting for economic rebound

  Sorry the commentary was a little late today. I was on the phone dealing with my car’s extended warranty. Per the personalized recording, they’ve been trying to reach me for...
• Tuesday, July 6 July 6: MLO jobs; pre-qual, warehouse, CE, marketing, sales tools; CFPB: worth keeping an eye on

  Dang it is becoming more and more expensive to follow all the rules and regulations to originate residential loans. These costs, of course, are borne by the consumer. (See some...
• Monday, July 5 July 5: AE jobs; reverse, good-bye letter, VOE products; online webinars remain but in-person events come roaring back

  Some people are working today, some not, some may read this today, others Tuesday, but have you ever wondered, “Why’d the Western World pass over ‘B’ batteries?” Most battery designations...
• Saturday, July 3 July 3: Notes and news about housing numbers, owning Agency stock, Agency deals, and vendor deals & products

  Mortgage Loan Originators (MLOs) are always interested in housing news and thoughts about the direction of the market. Let’s start this holiday weekend commentary with a note from Sherri Calcut,...
• Friday, July 2 July 2: AE, MLO, underwriter jobs; ECOA, productivity, QC tools; Agency updates; jobs report & mortgage rates

  I realize that this is a commentary about lending, but it is good for MLOs to be cognizant of what their real estate agent client’s clients want… In a kitchen....
• Thursday, July 1 July 1: Cap. mkts., MLO jobs; broker wanted; trading execution, cost cutting, non-QM, AMC products; Investor processing tweaks

  Halfway done with 2021?! Yes, time is flying, and summer is here. The weather service just published instructions on how to bake a lasagna in your mailbox. Speaking of time...
• Wednesday, June 30 June 30: Non-QM Mgt., CD, AE, MLO jobs; jumbo, verification, subservicer products; Non-Agency news around the biz

  “Adam and Eve were the first people not to read the Apple terms and conditions.” Who has actually read their phone’s manual? Technology marches on, with or without us. Two...
• Tuesday, June 29 June 29: Community lending, 1099, compensation, NOO, non-QM products; Government loan program changes ’round the biz

  Say what you will about huge companies not having an impact on housing, MLOs can’t ignore the fact that they’re here. The latest example is global real estate investment and...
• Monday, June 28 June 28: AE, MLO, Ops jobs; credit, warehouse, tax & flood, MI tools; summary of FHA changes; upcoming events & training

  Seattle will hit 110 degrees F today. Change is afoot. Last week changes of personnel within the CFPB and the FHFA (hence Fannie & Freddie) captured our industry’s attention since...
• Saturday, June 26 June 26: AE jobs; Is title insurance a scam? Reader’s notes on AMCs, compliance, Agency changes; Saturday Spotlight: PHH Mortgage

  In the last fifteen months we’ve learned that work is a thing you do, not a place you go. (Feel free to use that one!) The Mortgage Bankers Association returns...
• Friday, June 25 June 25: Senior management, AE, MLO, Ops jobs; Corresp., sales, warehouse products; Agency changes continue

  As lenders are working on adjusting margins, best-ex, and staffing, while at the same time relieved that rates haven’t gone up and pipelines are motoring along, the industry continues to...
• Thursday, June 24 June 24: MLO, Ops jobs; loan sales, presentation, social media compliance, workflow tools; FHFA leadership change: Now what?

  In case you haven’t heard, the Supreme Court ruled that a U.S. president can remove the head of Federal Housing Finance Agency, in this case, Mark Calabria (who has his...
• Wednesday, June 23 June 23: MLO jobs; lock, fee collection, marketing, jumbo, Encompass products ; Wall Street’s interest in our biz

  Folks are talking about how in-person mortgage conferences are coming back strong. For example, here in Florida that MBAF conference is approaching 300 registrants, and the California MBA’s Western Secondary...
• Tuesday, June 22 June 22: Reverse, non-QM, pricing, work flow, products; STRATMOR & customer service; con’t reaction to NOO & 2nd home Agency changes

  Is office work returning? Some watch traffic patterns, and, sure ‘nuff, cars on the freeways of Los Angeles are traveling slower indicating that the city is returning to a sense...
• Monday, June 21 June 21: MLO jobs; subservicer, warehouse, VA, non-QM products; PHH/Reverse Mortgage deal; economic trends; upcoming events

  Today I head to Orlando for the Mortgage Bankers Association of Florida 2021 Secondary and Convention (approaching 250 registrants!) The live and in-person events are definitely increasing as we move...
• Saturday, June 19 Juneteenth: CFPB issues its Juneteenth statement; vendor M&A continues; Industry video wins awards

  I rarely send the Commentary out on a Federal Holiday, but given the tumult surrounding today in the compliance world, thought it would be a good thing. (Couldn’t they have...
• Friday, June 18 June 18: AE, MLO jobs; Ignite, servicing, MIP tools; industry weighs in on disclosure process for Juneteenth

  When my Dad retired from the navy in 1962 after 20 years, he found a job through the Want Ads in the newspaper. I post jobs here, through the wonders...
• Thursday, June 17 June 17: Bus. Dev. mgr., MLO jobs; sec. marketing, SaaS, purchase biz tools; Fannie addresses NOO & 2nd home policy

  When I see lover’s names carved into the wood on a tree, I don’t think it’s sweet. I just think how surprising it is how many people bring a knife...
• Wednesday, June 16 June 16: MLO, AE jobs; servicing, sales, TPO, VOI products; Fannie & Agency shifts continue: 3 instead of 7 percent NOO cap?

  Satisfaction = Reality/Expectations. You can do the math yourself on that one, and speaking of math and numbers, even though there are hundreds of thousands of people in residential lending,...
• Tuesday, June 15 June 15: AE jobs; sec. marketing, training, processing, due diligence, TPO products; JVs & acquisitions

  I was spending a little time yesterday evening at the local cannabis club with my favorite bud-tender (an ombudsman!), and she was telling me about how businesses are seeing a...
• Monday, June 14 June 14: Ops, MLO, AE jobs; servicing, dashboard, FHA pricing, VOA products; Agency shifts continue; events this week

  Elaine F. reminded me of a quote from Hemingway: “Never mistake motion for action.” And basketball coach John Wooden said, “Never mistake action for achievement.” The FHFA is certain taking...
• Saturday, June 12 June 12: Return to the office strategy & thoughts; Agency deals (gfee shifts?); Saturday Spotlight: Usherpa

  Some lenders are moving through the “return to the office” procedure, trying to leave plenty of room for adjustments later on while focusing on employee health, avoiding potential illness and...
• Friday, June 11 June 11: Non-QM, MLO, AE jobs nationwide; VA, PMI, ECOA, pricing; LO compliance products; bonds pause their rally

  Friday: time for some random non-mortgage stuff. Everyone knows that if you lose one sense, your other senses become enhanced. Which is why people with no sense of humor have...
• Thursday, June 10 June 10: AE, Ops, MLO jobs; warehouse, sales, execution, analytics tools; tech survey; disaster updates

  With plenty of in-person mortgage events slated for the remainder of 2021, it is good that human brains are specialized for facial recognition and that we’re not chimps whose brains...
• Wednesday, June 9 June 9: Title, recruiting, MLO jobs; email, training, AI, lead, AMC products; wholesaler news; rates continue to slide

  I hope that Google never shuts down. I know six, maybe seven, things. I know that the President’s plane was delayed seven hours this morning due to cicadas. Another thing...
• Tuesday, June 8 June 8: LO, processing jobs; correspondent, presentation, pre-qual tools; PenFed/TIAA deal and other correspondent news

  After years of opening mail I’ve come to the conclusion that, when stamped on an envelope in the U.S. mail, “personal and confidential” usually isn’t, and “time sensitive” isn’t either....
• Monday, June 7 June 7: AE, MLO, Ops jobs; VOA, biz intelligence, appraisal, landing page tools; events & training in June and into July

  Time is flying, and the months click by. We’re approaching the Summer Solstice. (Here in Sitka, AK, the official sunrise is around 4AM and it sets around 10PM.) As a...
• Saturday, June 5 June 5: VAX pushback; the CFPB & forbearance; multifamily deals, vendor news; Saturday Spotlight: Trinity Oaks Mortgage

  I decided to leave my office early the other day, so walked from the dining room into the kitchen to see if anything new was in the refrigerator. Alas, there...
• Friday, June 4 June 4: Servicing, Ops, MLO jobs; purchase, appraisal, PMI, retention tools; Investors react to Agency changes

  A while back I made an appointment at a new doctor and under, “What do you wish to be called?” I wrote, “The Chosen One.” Wednesday, I heard the receptionist...
• Thursday, June 3 June 3: Underwriter, MLO, relationship mgr. jobs; sales, pricing, processing tools; VA & FHA changes of note

  Here’s your pro tip of the day: occasionally blow on the wine in your coffee mug to convince the rest of the Zoom meeting that it is tea. Speaking of...
• Wednesday, June 2 June 2: MLO jobs; pricing, servicing, processing, VOE tools; non-Agency & jumbo updates; what’s new with LO comp?

  Real estate agents will tell you that offering above asking price is only the first step, with many buyers also waiving contingencies, skipping inspections, or providing free lease-backs to sellers,...
• Tuesday, June 1 June 1: Ops, sales jobs; securitization, HELOC, verification, tech review, sales products; events and webinars to lead off June

  June, already. Plans to return to the office? The Mortgage Bankers Association, for example, is gearing up for a July 12 return. And you can bet it’s watching the machinations...
• Saturday, May 29 May 29: Deal making in the vendor space; SOFR Agency deals; what is a drip buy? Saturday Spotlight: Vaultedge

  Let’s start Saturday’s commentary with a piece on consumer behavior. I went to Costco this week, and… no masks! Besides no masks and a safe environment, people are anxious for...
• Friday, May 28 May 28: MBA, U/W, AE, construction lending jobs; multimedia, jumbo, warehouse, rental products; lenders react to GSE changes

  Traffic is already bad out there! Here’s a sign on a beekeeper’s truck: “If you see me running, things have gone poorly, and you should run too.” Life throws us...
• Thursday, May 27 May 27: Cap. mkts., MLO, AE, Ops jobs; loan sales, pricing, tax estimating products; is the Fed contributing to housing price escalation?

  I was telling my cat Myrtle about the labor shortage in the United States, but she didn’t seem fascinated, to say the least. In fact, she gave me a look...
• Wednesday, May 26 May 26: MBA, MLO jobs; Marketing, customer service, VA, retention tools; FHA & VA program shifts; housing: up, up, up

  Do you think that creativity is waning? Hardly. Some great products and ideas come out of the mundane. Wonder what happens to your unused hotel soap and shampoo? Do you...
• Tuesday, May 25 May 25: MLO jobs; Non-QM, jumbo, audit, fulfillment, servicing risk, trailing doc products; STRATMOR’s thoughts on the market

  Are you ready for a real-live holiday on Monday? With millions more Americans vaccinated since the last holiday, and the end-of-May weather, it’s a safe bet people have changed and...
• Monday, May 24 May 24: AE, MLO, Ops jobs; mixed-use, fulfillment, non-Agency products; in-person & virtual events and training run the gamut

  What is your, and your company’s, value proposition? Lenders must be vigilant, which means paying attention to trends, big and small. For example, on the large scale, more and more...
• Saturday, May 22 May 22: Capital markets deals & activity; notes on returning to the office from WFH; a helping of vendor news

  For those who missed it, yesterday was the 21st day of the 21st week of the 21st year of the 21st Century. I spent yesterday, and much of this week,...
• Friday, May 21 May 21: Servicing, cap. mkts., corresp., MLO jobs; servicing risk, HELOC, MI, eClosing products & tools; investor disaster news

  Should we start the finish of the normal workweek with some non-mortgage stuff? There are green monkeys living near a Florida airport who are connected to 1948 zoo escape. (Reminds...
• Thursday, May 20 May 20: AE, MLO jobs; VOA, processing, pricing, marketing, comp webinar tools; investors’ Agency changes

  There are some who firmly believe that the Hubble Telescope was sent into space to spy on us. These people are better advised to wonder what Google is up to,...
• Wednesday, May 19 May 19: Ops, MLO jobs; marketing, subservicing, HFA, warehouse products; Agency/GSE changes are ceaseless…

  Face facts: There are many differences between men and women. One of which is that when returning home from the grocery store, women typically are more level-headed and carry normal...
• Tuesday, May 18 May 18: Cap. Mkts., MLO jobs; pricing, processing, audit tools; events this week; forbearance numbers improve; SoFi’s SPAC IPO

  The guy I was talking to yesterday asked about my background. I gave him a detailed history of my upbringing, my education, work experience, and why I get up at...
• Monday, May 17 May 17: Corresp., construction, sales jobs; non-owner, POS products; Customer service tips; jam-packed webinar & training week

  Here is a dab of trivia to start the week. There are only about 2,000 heart transplants every year in the United States. So, on average, that’s only about 2-3...
• Saturday, May 15 May 15: Letters on the money supply & inflation, the recovery’s disparities, and compliance concerns; Saturday Spotlight: Stewart

  Vendors and lenders, and for that matter every business that could, “turned on a dime” last year and converted workforces to being at home. Now, however, the process is reversing...
• Friday, May 14 May 14: Underwriting, MLO jobs; DPA, non-QM, customer service tools; misc. company news indicates trends

  Let me start Friday with an apology… to Alaska. (I thought I saw an eye doctor on an Alaskan island, but it turned out to be an optical Aleutian.) Julie...
• Thursday, May 13 May 13: MLO, Ops jobs; cross-border lending, processing, recruiting products; MBS issuance webinar; Quicken name change

  People around the nation are “voting with their feet.” Illinois: Seven straight years of population declines. California: Losing population during a year for the first time in history. Do you...
• Wednesday, May 12 May 12: MLO, AE jobs; lead gen, turn time, jumbo products; Guild/RMS deal; how much is Better.com worth?

  Is Better.com worth $7.7 billion, as indicated by the SPAC deal announced yesterday? I guess things are worth the price at which a willing buyer and seller transact. For comparison,...
• Tuesday, May 11 May 11: Ops. mgt., MLO jobs; renovation, docs, retention non-QM training tools; product updates run the gamut

  The real estate and lending industries operate in a world filled with laws, lawsuits, and regulators. (The latest example is REX’s suit against Zillow and the National Association of Realtors...
• Monday, May 10 May 10: Sales jobs; retention, purchase, servicing, reverse products; webinars and training; interview with economist Elliot Eisenberg

  Here at the MBAG event in Northern Florida some of the topics of conversation is the economy, the inability to predict interest rates, families, and lending. It has been reported...
• Saturday, May 8 May 8: Chicken wings are how much? MI & vendor news and results; Freddie SOFR deals; Saturday Spotlight: ReadyPrice

  Lenders everywhere are watching costs and volumes. Overtime pay has virtually vanished, and efficiency is the name of the game (versus throwing personnel and technology at production bottlenecks). Sure enough,...
• Friday, May 7 May 7: Accounting, Ops, MLO jobs; AMC, lead, warehouse products; financial transparency in our biz; employment figures sink rates

  It’s Friday, so how ‘bout some non-mortgage supply and demand stuff? Let me start with an apology to Willie Mays’ family (who may or may not read this daily mortgage...
• Thursday, May 6 May 6: Reverse, MLO, Ops jobs; pricing, best-ex, QC products; compliance and risk notes & information

  While the market is digesting the implications of Rocket’s earnings (the shares are down in pre-market trading), remember when, in March 2020, it was as if someone flipped a switch...
• Wednesday, May 5 May 5: AE, MLO, product jobs; servicing, appraisal, marketing products; Genworth/Enact, LoanSnap IPO news

  Today celebrates Mexico’s victory over France in the Battle of Puebla on May 5, 1862. It was a relatively minor battle (and the French reclaimed Puebla a year later) but...
• Tuesday, May 4 “May the 4th be with you” Day: Processing, MLO jobs; warehouse, marketing, eClose, efficiency tools; disaster updates

  Most other countries construct homes out of concrete, stone, steel, or brick, but here in the good ol’ USA we use wood. A renewable resource, right? I mention this because...
• Monday, May 3 May 3: Secondary, MLO, & sales jobs; HELOC, bridge financing, Non-QM, verification products; upcoming events, in-person and virtual

  Who is Guramrit Hanspal? Every servicer and lender hope good ol’ Gur doesn’t start giving lessons in how to avoid making mortgage payments, which he has avoided doing for 23...
• Saturday, May 1 May 1: Letters regarding Agency changes; vendor news; Securitizations: Agencies don’t only do SFH

  No residential loan originator would ever want to see this in their email. “Dear ____: After much discussion, our leadership has decided to reduce our competitive position in the marketplace....
• Friday, April 30 Apr. 30: CRM, Ops, Consumer Direct, AE, LO jobs; JV and MSA updates; Redwood Trust results; CFPB action

  How are we 1/3 done with 2021 already? Few are sitting on their hands as the months roll on. Exxon had its first profitable quarter since 2019. Fannie Mae posted...
• Thursday, April 29 Apr. 29: Corresp., AE, LO jobs; digital, warehouse, processing, pricing products; Freddie & Fannie news incl. earnings

  A “google” is the large number of 1 with 100 zeroes after it. For lenders, a billion is a large number, and it would be unheard of for a lender...
• Wednesday, April 28 Apr. 28: LO jobs; lead gen, servicing risk, presentation, DPA, valuation tools; M&A firestorm; housing: strong like bull

  There sure is a lot going on out there! From California comes news that Finance of America is buying “certain assets” from California’s Parkside Lending, and from Texas, the parent...
• Tuesday, April 27 Apr. 27: Secondary mktg., AE jobs; workflow, payment, doc tools; company sponsored events; VA & FHA updates

  When I was a kid, I did things like eat Wonder Bread. I still enjoy a McDonald’s cheeseburger on occasion. As a kid I remember sharing a Coke with the...
• Monday, April 26 Apr. 26: Servicing, sales jobs; processing, broker, price products; in-person and virtual events & training coming soon

  While the market digests the acquisition of Flagstar by NY Community Bancorp by the end of 2021, and talk of more deals in the works, in previous generations a “pension”...
• Saturday, April 24 Apr. 24: Vendors partnering; building & housing issues go back years; Saturday Spotlight: Service 1st

  Do you know what a “HENRY” is? No, not this timeless song. It’s an acronym for, “High Earner Not Rich Yet.” The demographics of the current home buying generation are...
• Friday, April 23 Apr. 23: MLO jobs; LOS, sales, ARM, HELOC, servicing risk products; Ocwen, PHH, TCB, Redwood Trust company news

  My cat Myrtle seems immune to marketing and advertisement. Not everyone is, of course, and there are some clever, albeit ominous, ways to get messages across. Google, of course, knows...
• Thursday, April 22 Apr. 22: Corresp., MLO, Ops jobs; retention, servicing, construction-to-perm products; fraud report; CFPB, compliance, and legal shifts

  Not you, of course, but many other people in our biz are elderly. Sure you haven’t seen them in person in a year, but they’re there. Or they have elderly...
• Wednesday, April 21 Apr. 21: AE, MLO, Ops jobs; subservicing, jumbo, sales products; MLO to broker training; investor underwriting changes; real estate “humor”

  Over the weekend I visited a gas station, and the fellow in the kiosk had a name tag with, “Tim, Fuel Leader” inscribed on it. I will leave making fun...
• Tuesday, April 20 Apr. 20: Training, AE jobs; pricing, risk mgt., dashboard tools; servicing package for sale; investors adapt to Agency shifts; UW humor

  Happy 420! (Tomorrow is “Happy Surprise Drug Test Day”.) Whenever I ask my cat Myrtle about her opinion of the Consumer Finance Protection Bureau, she remains mum. But the CFPB...
• Monday, April 19 Apr. 19: MLO jobs; sales, jumbo, purchase biz products; lots of events & training, from soup to nuts, in the next few weeks

  As lenders are wondering who will be the next merger or acquisition announcement (news of the Sterling Bancorp and Webster Financial came out this morning), and there will be someone...
• Saturday, April 17 Apr. 17: Letters on Agency buybacks and appraisal waivers; Saturday Spotlight: Embrace Home Loans

  I ordered a chicken and an egg from Amazon. (I’ll let you know.) You think the mortgage process is confusing and, at times, thorny? How ‘bout a totally non-mortgage related...
• Friday, April 16 Apr. 16: Lock desk, MLO, underwriter jobs; POS, workflow, digital tools; Agency’s trend: not your friend?

  Suddenly everyone’s ruminating on upcoming mergers and acquisitions (and there will definitely be some), but in the lower management ranks, lenders are already shifting their hiring practices, and taking a...
• Thursday, April 15 Apr. 15: AE, Ops, Sales jobs; Sec. mktg., NOI, QC, diversity products; NewRez/Caliber deal; servicing retention study

  There are some clever people out there, especially when it comes to satisfying demand. Lenders know that mortgage pricing is a function of supply and demand. If one investor doesn’t...
• Wednesday, April 14 Apr. 14: MLO jobs; risk reduction products; marketing, workflow tools; JP’s earnings, and the MBA’s take on 2020’s profits

  “I wear a stethoscope so that in a medical emergency I can teach people a valuable lesson about assumptions.” People shouldn’t assume that all offices are made equal. People in...
• Tuesday, April 13 Apr. 13: MLO jobs; HELOC, renovation, jumbo, sales products; new correspondent investor for non-QM & QM loans

  Why do all underwriters have soft hair? Because they over-condition! (How do your underwriters feel about bitcoin? Brokers up in Canada are now accepting eCurrency.) Underwriters are charged with analyzing...
• Monday, April 12 Apr. 12: Sec. mktg., MLO jobs; customer support, servicing products; upcoming webinars cover everything from origination to servicing

  I received this over the weekend: “I just want to make enough money to live a life that doesn’t include Microsoft Teams in my work life.” Many people in residential...
• Saturday, April 10 Apr. 10: Survey on Agency shifts; Vendor news; Freddie K Deals; Saturday Spotlight: First Community Mortgage

  John Travolta tested negative for coronavirus last week. Turns out it was just Saturday night fever. He’s healthy as a horse. How healthy is your pipeline? From what I hear,...
• Friday, April 9 Apr. 9: Sales mgt., MLO jobs; non-QM, processing, ECOA, subservicing tools; Administration & housing

  What’s new out there? Queen Elizabeth’s husband Prince Phillip has passed away this morning at age 99. Wealthy people in New York seem to be fleeing to live in other...
• Thursday, April 8 Apr. 8: Non-QM, reno, jumbo products; SaaS, sales, underwriting products; correspondent news; underwriting shifts

  “’i’ before ‘e’ except after ‘c’” has finally been disproved by science. Does “machine learning” equal “Artificial Intelligence (AI)”? Nope. And did you know that over the past 12 months,...
• Wednesday, April 7 Apr. 7: AE, MLO jobs; subservicing, workflow, marketing, processing tools; FHA news; events this week

  Does the CFPB have jurisdiction of all mortgage-related agencies, borrowers, and servicers? We’ll see, as yesterday, and this proposal should not come as a surprise to any mortgage servicer, the...
• Tuesday, April 6 Apr. 6: MLO jobs; post-close, processing, sec. marketing tools; conventional conforming shifts of note

  For some good news, any company that holds or buys servicing has seen their balance sheet improve with the rise in mortgage rates. For more good news, reverse mortgage lenders...
• Monday, April 5 Apr. 5: AE jobs; lead gen products; wholesaler’s new products; training, events, & webinars on sales and operations

  “Some are born to meet, some achieve meetings, and some have meetings thrust upon them.” There are definitely in-person meeting “green shoots” sprouting ahead of the residential and commercial lending...
• Saturday, April 3 Apr. 3: Agency deals in the secondary markets help rates in the primary market; Saturday Spotlight: Candor

  Easter Weekend! What do you call a sleepwalking nun? A roamin’ Catholic! Grass cutting season is upon us. What do you get the guy who has everything, including a lawn?...
• Friday, April 2 Apr. 2: Tech, MLO, AE, Non-QM, Ops jobs; Non-Del, servicing, reno products; changes in flood insurance ahead?

  Although today is not a Federal holiday, it certainly seems like it should be one. And not to be “Debbie Downer, it is hard to believe that we have two...
• Thursday, April 1 Apr. 1: Recruiting, AE, MLO, Ops jobs; hedging, HELOC, anti-fraud tools; CFPB meeting transcript; F&F’s bold move; deep dive into rate trends

  Worried about it being April Fool’s Day? Don’t be. We’ll take care of you, although today’s job and product notes are real. Today’s podcast includes a discussion on extended locks,...
• Wednesday, March 31 Mar. 31: MLO jobs; broker, jumbo, leads, presentation, liquidity tools; FHA, Ginnie, USDA news in context

  What word becomes shorter when you add two letters to it? Short. (There’s the cutting-edge wit this commentary is known for!) Time can play tricks on us. Did you know...
• Tuesday, March 30 Mar. 30: MLO jobs; jumbo, workflow, retention products; Agency risk changes ahead; Want a 6 month lock? MISMO President interview

  The demand for shipping on the Suez Canal never stopped. (Do you think this conversation ever took place on the bridge of the Ever Given? “I bet you can’t turn...
• Monday, March 29 Mar. 29: AE, MLO jobs; sales, subservicing, automation products; virtual conferences & webinars with in-person events coming

  Today’s audio version of the commentary is always available. (This week’s, sponsored by The STRATMOR Group, has a short interview with me today on how people in the residential lending...
• Saturday, March 27 Mar. 27: Shielding income; motivating WFH employees; vendor updates; Saturday Spotlight: Iron Mountain

  Let’s take a momentary break from mortgage chatter. Do you think that the well-being of future generations should be give the same weight as that of the present one? That...
• Friday, March 26 Mar. 26: IT sales, MLO, Ops jobs; rate protection, broker products; F&F changes; con’t forbearance improvement

  I just finished my weekly 3 minute “abs of steel” workout, and it’s time for a rant! A wealth tax? How does the Federal government pull that off? Is an...
• Thursday, March 25 Mar. 25: MLO, branch, Ops jobs; sales, POS, warehouse products; STRATMOR Ops paper; Ginnie, FHA, VA, USDA updates

  After spending millions of dollars studying the issue, a blue-ribbon panel found that statistics show that teen pregnancy drops dramatically after age 20. (Need a minute to think about that?)...
• Wednesday, March 24 Mar. 24: IT, AE, marketing jobs; comp, retention, pre-approval tools; non-QM there for non-owner & 2nd homes?

  My cat Myrtle is not a huge basketball fan. And she certainly wasn’t interested in my idea recently to find fifteen people willing to pony up $1 million each to...
• Tuesday, March 23 Mar. 23: MLO jobs; sales, tech., subservicer audit products; approaching webinars & training; forbearance numbers decline further

  Are you looking for signs of the times? The Wall Street Journal, along with supermarket flyers everywhere, tells us that there are more real-estate agents than there are homes for...
• Monday, March 22 Mar. 22: MLO, Ops, AE jobs; purchase, non-QM, underwriting tools; wholesaler news; “Liquidity Ratio” impacting mortgage rates

  I have a 30-year-old shirt from Tuttle & Co. with this printed on it: “Don’t confuse brains with a bull market.” Aside from some occasional unexpected jolts, rates have been...
• Saturday, March 20 Mar. 20: Vendors’ products, partnerships, progression, proficiencies; Saturday Spotlight: Merchants Bank of Indiana

  Is it news to anyone that low rates, increased savings, population demographics, and working from home are driving housing values higher? Do you or your clients own rentals? The residential...
• Friday, March 19 Mar. 19: HELOC, AE, Non-QM, MLO jobs; rental market snapshot; non-QM products; Ceaseless Agency news & price changes

  If you love robocalls, raise your hand. (I thought so.) I myself have had no success obtaining their home phone numbers to call them back at home and finish the...
• Thursday, March 18 Mar. 18: MLO jobs; pricing, sales, DPA, pricing, QC reporting products; wholesale & correspondent news; bond market/Fed disconnect

  The Internal Revenue Service is not known for being creative, but yesterday it was announced that the usual tax deadline of 4/15 has been moved to 5/15. People can be...
• Wednesday, March 17 Mar. 17: MLO jobs; broker, underwriting, non-QM, processing tools; does the Fed expect a fast, hot recovery?

  Many years ago I asked my father about why we didn’t have a home gym. He replied, “Want exercise? Jog to the liquor store and get me a beer, then...
• Tuesday, March 16 Mar. 16: MLO, recruiting, training jobs; sales, doc, processing tools; LLPA price adjustment changes sweep through investors

  Time flies. Ringo is 80!? I bet he’s done some vacationing in the last 60 years. I gave my wife a dart and a poster of a world map and...
• Monday, March 15 Mar. 15: Ops, MLO, AE, compliance jobs; HFA, URLA, servicing products; upcoming training & events; rates stable, for now

  Here we are at the Ides of March: only two weeks until the end of the 1st quarter! The time is flying by and time is precious. Last night I...
• Saturday, March 13 Mar. 13: The CFPB removes doubt on intent; Mike Cagney on Rohit Chopra; state-level changes: Oregon, HOA fees, and a foreclosure

  Eating pizza is often a social thing, so don’t forget “Pi Day” is tomorrow, which is also, coincidentally, Albert Einstein’s birthday. Although pizza promotions have taken over this date, every...
• Friday, March 12 Mar. 12: Fulfillment, MLO, product dev. jobs; mail, CRM, presentation, digital products; Freddie & Fannie shifts; Mike Cagney interview

  A year ago… remember when you couldn’t find toilet paper for sale? Now you can’t find a house for sale. But there are plenty of Agency MBS and other debt...
• Thursday, March 11 Mar. 11: Sec. Mktg., MLO, Ops jobs; compliance, broker, correspondent products; free events this week; Fannie constricts footprint

  With all the hundreds of thousands of borrowers around the nation left to refinance, lenders are understandably concerned about mortgage rates creeping higher, removing swaths of rate & term refi...
• Wednesday, March 10 Mar. 10: DPA, automation, sales, AMC, compliance products; broker & correspondent tools; economy quietly gearing up

  Today I head off on a business trip to Georgia for a few days, which reminded me that yesterday’s commentary had some state facts. As expected, people took exception with...
• Tuesday, March 9 Mar. 9: Sales mgt., MLO jobs; processing, FHA, efficiency, video products; Dr. Fratantoni on the economy

  Does anyone agree on anything anymore? In the past, state trivia was fun because everyone agreed on it. No one will disagree that Alaska is the northernmost, westernmost, and easternmost...
• Monday, March 8 Mar. 8: Credit, AE, MLO, branch jobs; automation, FHA/VA, fintech, URLA products; events & training from your divan

  Let’s start the week with a gaggle of questions. Do you feel old knowing that Taylor Swift is older than the four Beatles were when they broke up? Have you...
• Saturday, March 6 Mar. 6: LIBOR phase out details; Agency deals continue, helping borrower’s mortgage rates; Saturday Spotlight: ReadyPrice

  Lenders think about business every day. According to FBX, February 2021’s mortgage rate-lock volume was up 29 percent year over year but down 7 percent from January across all channels,...
• Friday, March 5 Mar. 5: Recruiting, training, MLO, AE jobs; DPA, tech products; principals and attorneys weigh in on wholesale tumult; strong jobs data!

  In the legal field, virtual litigation is thought to be here to stay, vaccine or no vaccine. And as the pandemic continues, and remote hiring continues for lenders, CEOs, owners,...
• Thursday, March 4 March 4th: LO, Ops, AE jobs; HELOC, efficiency, AMC, sales, VOE tools; podcast for LOs; jumbo & non-QM news

  Welcome to the only day where the date is a command. Owners of shopping malls wish they could command everyone to go shopping in one. When was the last time...
• Wednesday, March 3 Mar. 3: AE, MLO jobs; broker, sales, VOE tools; URLA & processing news; more talk of an economic recovery

  To listen to the audio version of today’s commentary with an interview with STRATMOR Group’s resident recovering accountant Jim Cameron on handy metrics for MLOs to be aware of, please...
• Tuesday, March 2 Mar. 2: New products, fee collection, sales, VOE tools; events and webinars: all this week!

  As a kid, magic tricks are amazing because we think there is magic. As an adult, magics tricks are amazing because we know there is no magic. Lenders know that...
• Monday, March 1 Mar. 1: Ops, MLO jobs; sales, non-QM, HELOC products; Agency & investor disaster policies; the Fed & rates

  With the jump up in mortgage rates Thursday, and the move back down Friday, a few lock desk personnel wrote to me over the weekend asking about ways of keeping...
• Saturday, February 27 Feb. 27: Readers’ letters on the CFPB, rates, and how lenders will keep lending; Saturday Spotlight: Symmetry Lending

  Some questions are difficult to answer. What does the bacon industry have against re-sealable packaging? What is it about certain loan originators who, when rates actually go “up” to 3.25%,...
• Friday, February 26 Feb. 26: Lenders hiring MLOs; correspondent, tech, servicing, tech products; what you should know about yesterday’s rate move

  Huh? Rates don’t continually go down and then stay there for an indefinite period of time? No, they don’t. There’s this opinion piece in the Wall Street Journal: “We’ll Have...
• Thursday, February 25 Feb. 25: Ops, MLO jobs; cap. mkts., valuation, default, fulfillment tools; technology & processing notes

  As hope for a recovery drawing nearer helps push rates higher, Carol K. writes, “I hate it when people ask me what I do for fun because there is no...
• Wednesday, February 24 Feb. 24: MLO jobs; servicing, customer service, decisioning, retention tools; events & training this week

  (To listen to the audio version of today’s commentary with an interview with industry vet Joe Garrett, please click here.) There’s a cost to staying at home as much as...
• Tuesday, February 23 Feb. 23: MLO, Ops jobs; underwriting, loss mit, broker, corresp., jumbo products; VA, FHA, Ginnie changes

  (To listen to the audio version of today’s commentary, please click here.) Being home schooled was the goodest thing I ever did! Disparities in mortgage approval rates and higher student...
• Monday, February 22 02-22-21: MLO, Ops management jobs; performance, pricing, analytics, home equity products; Freddie/Fannie changes

  What do we have to look forward to? The next Federal holiday isn’t until the end of May (Memorial Day). There’s Easter, a month and a half away (April 4),...
• Saturday, February 20 02-20-21: Reader letters on recruiting, 2021 expectations, and credit; Saturday Spotlight: Maxwell; a clever joke

  To really spice things up and add variety to my life, this morning I put a generous helping of butter on my oatmeal after the generous helping of brown sugar....
• Friday, February 19 Feb. 19: MLO & Ops jobs; fee collection, HELOC, renovation products; comp survey; bank M&A trends; lead sources

  (To listen to the audio version of today’s commentary, please click here.) I received many nice comments about the section in yesterday’s commentary about losing people in our industry before...
• Thursday, February 18 Feb. 18: AE, MLO, Ops jobs; rule logic, subservicer, non-QM, POS products; rate moves partially impacting rate sheets

  (To listen to the audio version of today’s commentary, please click here.) Welcome to 124-year-old Girl Scout Cookie Season! If you’re an LO, how’d you like to deal with borrowers...
• Wednesday, February 17 Feb. 17: Ops, MLO, management jobs; broker, non-QM, communication tools; AmeriHome/Western Alliance deal numbers

  (To listen to the audio version of today’s commentary, please click here.) Time flies. President Biden extended FHA & VA mortgage relief and the ban on home foreclosures through June....
• Tuesday, February 16 Feb. 16: IT, MLO, training jobs; VA IRRRL, sales, final doc tools; non-Agency product trends; Mortgage rates? Ouch!

  Despite the lousy weather in many parts of the nation, and Mardi Gras being cancelled, the year is off to a fine start for lenders, and borrowers benefitting from lower...
• Monday, February 15 Feb. 15: Retail sales jobs; ECOA, sales tools; virtual events and training from soup to nuts, all from your living room

  While there are always juicy headlines out there, like this weekend’s Senate acquittal in the second impeachment trial of former President Trump, or LeBron James breaking the record for most...
• Saturday, February 13 Feb. 13: Vendor news from around the biz; letters on credit concerns; Saturday Spotlight: LHM Financial

  Are people in their 30s taking time away from their jobs to look at alluring online photos? Kind of… It certainly is a type of charm. Yes, Valentine’s Day is...
• Friday, February 12 Feb. 12: Private bank, correspondent, MLO jobs; CRM, jumbo, sales tools; LDI now public; Wells’ PPP fraud example

  Lending and real estate are permanently linked. On the mortgage side of things, the podcast of today’s commentary features thoughts on the $1.5 billion cap on Agency whole loan sales,...
• Thursday, February 11 Feb. 11: AE, MLO jobs; warehouse, anti-fraud, pricing products; Federal Reserve: steady as she goes

  I’ve never set foot on a Lear Jet, but was not excited to hear the iconic product ceasing production. Freddie Mac’s 4th quarter results are pretty exciting. I was very...
• Wednesday, February 10 Feb. 10: M&A, IT jobs; VOE, CRM, non-QM products; conventional conforming news; CPI: no inflation worries

  Here we are in the seemingly 58th week of 2020. What’s new? The podcast of today’s commentary features thoughts from the Millennial host on how lenders can address that market,...
• Tuesday, February 9 Feb. 9: MLO jobs; jumbo, investor programs; processing tools; MISMO fee update; thoughts on credit; training & events – many this week

  Yesterday I flubbed up by discussing the Administration’s proposal to eliminate credit unions and have the CFPB control the credit process. The article discussed eliminating credit bureaus, not unions, and...
• Monday, February 8 Feb. 8: CRM, Ops, MLO jobs; Pooling, processing, broker, recruiting products; a shift in CFPB thinking? Rates creeping higher

  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...
• Saturday, February 6 Feb. 6: Notes on housing and the economy; capital being injected into vendors; Saturday Spotlight: FlexPoint, Inc.

  Much like me releasing this commentary AND being Myrtle’s personal chef, there are a lot of Americans out there who have two jobs, and our Census Bureau has been tracking...
• Friday, February 5 Feb. 5: Credit, AE, MLO, marketing jobs; bridge loan, POS, VA IRRRL, servicing products; how to block trigger lead sales

  Guys around the nation have nine days to forget that nine days from now is Valentine’s Day, and florists everywhere have already ordered roses (in the middle of winter!) flown...
• Thursday, February 4 Feb. 4: Lock desk, credit, MLO, Ops jobs; underwriting, pricing tools; DACA, URLA changes; primer on the secondary markets

  Making headlines is United Wholesale averaging $15 billion a month in production and earning total net income of $3.4 billion for 2020, quite a change from the $415 million of...
• Wednesday, February 3 Feb. 3: Senior Credit, writing, Ops, MLO jobs; non-QM, HELOC, new lender news; fast-approaching training & events

  Companies and organizations around the nation are wondering about when in-person conferences will become the norm again. While they’re wondering about health concerns, picking the right venue for that special...
• Tuesday, February 2 02/02/21: M&A, sales jobs; sales, pre-approval, hobby farm products; events & training; wholesale & correspondent soundbites

  Okay boys and girls, besides it being a snow day in the Northeast, and Groundhog Day and Punxsutawney Phil’s 135th prognostication, here is today’s short video math lesson: Snow+Pandas=Fun. Continuing...
• Monday, February 1 Feb. 1: REIT, MLO, Bus. Dev. jobs; warehouse, MI, AMC, HELOC products; MSRs, the economy, servicing, and the CFPB

  January’s already in the rearview mirror and our industry is keeping an eye on all kinds of things. Like silent movies moving into “the Talkies” in 1927, the Chrisman Commentary...
• Saturday, January 30 Jan. 30: LIBOR phase out updates; note on the economy & lenders; Saturday Spotlight: ClosingCorp

  Tomorrow when I wake up, I might go running. Or I might win the lottery. The odds are about the same. With all the snow this week, it is hard...
• Friday, January 29 Jan. 29: Sales Director, MLO, branch jobs; servicing, sales, jumbo products; URLA and 4506-C news bites

  One should never stop learning. For example, I just began reading a great book: “How to Cook Crack and Clean a Crab.” Step One: Use commas. I learned that the...
• Thursday, January 28 January 28: Ops, MLO, IT jobs; MSR, originator ranking, digital tools; FHA’s bevy of news; Ginnie’s eNote pool

  The stock price of American Airlines is back to February 2020 levels. Investors seem to be “buying hope.” In Mortgage Land, though I am beginning to hear tales of pricing...
• Wednesday, January 27 Jan. 27: Encompass, training, credit risk jobs; pricing, sales, reno products; training on securitization & other upcoming events

  Just a couple more weeks until my uncle sends me a text asking if I’ve seen these funny photos of Bernie Sanders, of which there are no shortage. There is,...
• Tuesday, January 26 Jan. 26: MLO jobs; Sales, pricing, processing, correspondent, products; LO productivity study; FHFA disaster news

  While the Biden Administration waits for the Trump staff to tell them the Wi-Fi password in the White House, the government continues to occupy our thoughts. “The government should not...
• Monday, January 25 Jan. 25: MLO, Ops jobs; broker, VOE, servicing, MI tools; imminent training & virtual events from your living room

  There’s always “stuff” going on in residential lending, right? Capital markets folks have noticed that the big banks are re-entering buying jumbo loans from correspondents. BAML’s pass through channel, Wells...
• Saturday, January 23 Jan. 23: Reader’s thoughts on Freddie & Fannie’s pricing, capital, and future; Saturday Spotlight: Truework

  While many are watching “Lupin” on Netflix, others are thinking about lending and real estate. Among other things, good and bad, 2020 will go down in the history books for...
• Friday, January 22 Jan. 22: MLO jobs; broker, recruiting, HELOC products; Freddie & Fannie compliance reminders; a clever joke

  This week Joe Exotic did not receive a presidential pardon, nor did mortgage rates move much versus last week, but there are still over 16 million refinance candidates who meet...
• Thursday, January 21 Jan. 21: Retail, Correspondent jobs; performance, non-QM, sales tools; STRATMOR strategy paper; DACA & FHA

  “Do y’all remember, before the internet, that people thought the cause of stupidity was the lack of access to information? Yeah, it wasn’t that.” The internet has brought a lot...
• Wednesday, January 20 12021: Ops, AE jobs; Sales, leadership, tech, pricing tools; VA, Ginnie, FHA changes incl. URLA update

  In his Saturday Morning Cup of Joe, Jeremy Potter quipped, “The word ‘homeowners’ has the word ‘meow’ in it. Good luck unseeing that from now on.” Plenty of people are...
• Tuesday, January 19 Jan. 19: IT, AE jobs; jumbo, origination, productivity tools; thoughts on the CFPB nominee; training & events this week

  Sometimes running a mortgage compliance department can seem like this short clip Indiana’s Carol K. sent along. Yet there is value in compliance, and it is good that lenders and...
• Monday, January 18 Jan. 18: Subservicing, MLO, Ops, private client jobs; recruiting, fee collection, sales, borrower communication products

  My high school basketball coach would tell us, “Real power lies in your ability to elevate others.” Managers, and recruiters, continue to be busy bringing on staff, not wanting to...
• Saturday, January 16 Jan. 16: Letters on FHFA’s execution restrictions; Big bank’s mortgage earnings; vendors fundraising; Saturday Spotlight: ActiveProspect

  Who can forget the famous saying attributed to robber Willie Sutton when asked why he robbed banks: “Because that’s where the money is.” Banks are certainly doing okay. Yesterday we had...
• Friday, January 15 Jan. 15: Retail, Ops jobs; appraisal, non-QM, jumbo, DPA products; industry weighs in on good Freddie/Fannie news

  As Flagstar’s Marcus L. points out, “1999 doesn’t sound like that long ago until you realize that people with a birth year starting with ‘2’ are starting to be old...
• Thursday, January 14 Jan. 14: Warehouse, sales jobs; digital, AMC, pricing tools; comp survey; new cap. markets, broker, corresp. products

   With the money I’m saving on “Dry January,” I was able to buy some great edibles at the dispensary yesterday. “Come on, come on, listen to the money talk” sang...
• Wednesday, January 13 Jan. 13: Retail, recruiting jobs; servicing, appraisal, income calculation tools; upcoming virtual training; MSA FAQs

  There are plenty of MLOs (mortgage loan originators) out there very pleased with their earnings for 2020. In a non-random sample, several CEOs with whom I spoke had retail LOs...
• Tuesday, January 12 Jan. 12: Sales, MLO jobs; home ownership, non-QM, PPE, sales tools; conventional conforming updates around our biz

   Nearly two weeks into 2021 already? I was just getting used to saying “2020.” Now I have to add a syllable every time. “One.” There’s continued talk of companies like...
• Monday, January 11 1.11: Sales management, MLO jobs; recruiting, VA IRRRL, non-QM products; litigation is expensive; HMDA season has begun!

   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...
• Saturday, January 9 Jan. 9: Letters from readers on IPOs (next up, HomePoint?), taxes, non-QM; Saturday Spotlight: Homespire Mortgage

  This one is making the rounds out there. “Due to travel restrictions this year, the United States had to organize coups at home.” Yes, many of us are staying close...
• Friday, January 8 Jan. 8: Reverse, MLO, Ops jobs; social media, efficiency, CRA, CRM products; broker training; neobank closures & SoFi IPO

  While the industry watches the personnel changes at Arch and National MI, I received several texts and emails pleading, “I’d like to cancel my subscription to 2021. I’ve experienced the...
• Thursday, January 7 Jan. 7: Compliance, MLO, AE, Ops jobs; appraisal, profitability tools; upcoming events; rates creep higher: why?

  Some will say that the world’s most anticipated palindrome is “1-20-21”. Others will say that Inauguration Day spells the end of personal freedom in the United States. In our business,...
• Wednesday, January 6 Jan. 6: DTC, correspondent, MLO jobs; staffing, compliance, MI products; Agency forbearance uncertainty: questions remain

  Would you rather loan $200,000 to a Danish buntmager (furrier) or the United States Government? Well, while the industry is digesting the news that Guaranteed Rate has entered into a...
• Tuesday, January 5 Jan. 5: Tech & sales jobs; sales, investor, workflow products; training & webinars from the comfort of your BarcaLounger

  2021: Fifty years since the release of Led Zeppelin 4 (think Stairway to Heaven). In 1971 there were 208 million people living in the United States. Now there are approximately...
• Monday, January 4 Jan. 4: MLO, Ops jobs; COO seeking role; subservicer, URLA, VA IRRRL, HELOC, MSR products; non-QM lender rebrand

  Here we are on the first business day of 2021, the year of the movie Mad Max 2. (It is so much easier saying “2020” than “2021,” right?) Last year,...
• Saturday, January 2 Jan. 2: Population stats worth a skim; Freddie and Fannie, still doing deals while others debate their future

  Remember that ridiculous misconception that people age 24-39 (this year) were not interested in buying houses, and couldn’t afford to buy them because they were buying too much avocado toast?...

• Thursday, December 31 Dec. 31: MLO, Ops jobs; lender wanted; Small business grant; ignore the CFPB at your own peril

  I still don’t know what I’m wearing to the living room on New Year’s Eve. Heck, I may not even go. Wouldn’t it be nice to be on a cruise?...
• Wednesday, December 30 Dec. 30: Credit/risk, MLO, Ops jobs; Agency-approved lender wanted; sales, rental products; primer on secondary marketing for MLOs

  Loan originators in our business see potential borrowers whose monthly mortgage payments would be less than their rent payments but don’t qualify for credit or income reasons. The U.S. Census...
• Tuesday, December 29 Dec. 29: Recruiter job; HELOC, compensation, TPO products; New York did what? Agency news; URLA best practices paper

   With the passing of Pierre Cardin this morning, does it mean that bottle of cologne (circa 1978) I have in the attic became a collector’s item? The phallic shape of...
• Monday, December 28 Dec. 28: Non-QM, LOS Admin, Ops, MLO, IT jobs; broker, sales tools; QC & compliance still front & center

   Congress and the press have been talking about a second stimulus plan since the summer. The bill signed by President Trump last night keeps the U.S. Government running through next...
• Saturday, December 26 Dec. 26: Residential lending vendors not sitting still: recent M&A, strategic partnerships, new products

   Computer security at home can be tricky. As an example, for security reasons, change your dog’s name every three months to match your new password. Security for vendors supplying services...
• Thursday, December 24 Christmas Eve: Bus. Dev., MLO, AE jobs; Verification tool; disaster news; what is “Build for Rent”?

   New Homes Sales tumbled over 11 percent in November. Does that mean no one wants new homes, they’re over-priced, or there aren’t any to buy? One has to look at...
• Wednesday, December 23 Dec. 23: Ops, MLO, bank sales management jobs; QC report, retention, cap. markets tools; jumbo & non-QM tidbits

   My cat Myrtle (Myrtlus Domesticus) doesn’t have much in the way of material possessions. Need to get rid of unwanted junk during the holidays? Put it in Amazon boxes and...
• Tuesday, December 22 Dec. 22: Correspondent, MLO jobs; digital, trailing doc, social media tools; FHA’s foreclosure & eviction moratorium extension

  I hope that everyone had a happy solstice yesterday, with a few folks writing to suggest that “It is the shortest day, of the longest year, of our lives.” Given...
• Monday, December 21 Dec. 21: VP of non-QM, credit/diligence, Ops, MLO, AE jobs; National MI integration; shifting borrower profile

  As we watch the second largest stimulus bill in history move toward passage, greetings from the Winter Solstice, the official start of winter and the day with the fewest hours...
• Saturday, December 19 Dec. 19: Non-QM and Agency trends in the secondary market; letter on borrower communication

  Numbers are amazing things. What would we do without them? On the small scale, there are people who will swear that they’ve never touched the 4, 5, 6, 7, 8,...
• Friday, December 18 Dec. 18: Sec. Marketing, Ops, branch manager, LO jobs; CFO role wanted; First American rebrand; Rural, FHA, VA program changes

  I don’t know what’s longer, a “regular” minute, “microwave” minute, or a “treadmill” minute. Speaking of time, if someone sends you an email saying, “The noon meeting has been moved...
• Thursday, December 17 Dec. 17: MLO, Ops jobs; origination shell wanted; CRM, POS, retention, jumbo loan, capital markets products; how news moves rates

  Who would’ve thought that one day we’d be smoking weed at a family gathering, but the illegal part would be the family gathering? For most of us, family matters are...
• Wednesday, December 16 Dec. 16: Cap. mkts., Ops, MLO jobs; shell wanted; broker, payroll, ECOA tools; investors’ Agency changes

  While virtual learning students bemoan the elimination of snow days, the U.S. Census Bureau recently came out with dozens of holiday-related facts and figures from its collection of statistics. For...
• Tuesday, December 15 Dec. 15: AE, MLO jobs; shell wanted; fulfillment, doc, servicing products; training this week; few reasons for rates to move

  “We were so poor when I was a kid that we couldn’t afford tinsel. We had to wait for Grandpa to sneeze.” At the opposite end of the economic spectrum,...
• Monday, December 14 Dec. 14: Sales jobs; Lending shell wanted; Non-QM, VA IRRRL products; Investor’s Agency changes

  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...
• Saturday, December 12 12-12-20-20: LIBOR exit continues; snapshot of resi lending & borrowers; books for the holidays for staff & family

  Did you know that 87 percent of gym members don’t even know their gym is closed? Lou Friedmann from Illinois’ Interfirst Mortgage reminded me that today is National Gingerbread House...
• Friday, December 11 Dec. 11: Management jobs in credit, sales; MI, post-closing, MBS pooling tools; Freddie, Fannie, and the Supreme Court

  While here in Hawai’i, if anyone receives a message from me about canned meat, don’t open it. It’s Spam! With many sticking close to home, holiday traditions have renewed importance....
• Thursday, December 10 Dec. 10: Sec. Mktg., MLO, Ops jobs; broker, retention products; borrower satisfaction; primer on how news impacts rates

  “My ability to remember song lyrics from the 80s far exceeds my ability to remember why I walked into the kitchen.” The Baby Boomers are certainly riding the appreciation wave...
• Wednesday, December 9 Dec. 9: AE, MLO, Ops jobs; VA IRRRL, non-Agency, doc products; FHA temporary waiver, Ginnie eligibility, VA forbearance news

  I’m gonna ask my Mom if that offer to “slap me into next year” is still on the table. It’s great to be a lender in 2020, and should be...
• Tuesday, December 8 Dec. 8: Tech, MLO jobs; Pooling, retention, VOA, comp products; training this week; small lenders, broker dealers, and Rule 19b

  Huh? Talk of a government shut down? Again? Are you the typical lender off to a record December, after setting records in November, October, September…? As attorney Brian Levy points...
• Monday, December 7 Dec. 7: Accounting, MLO, AE, Ops jobs; private lending, retention, referral tools; why rates have crept higher

  Large-scale mortgage in-person conference activity, and official mortgage business travel, appears to be shut down until at least the summer of 2021. A well-known vendor’s head of sales wrote to...
• Saturday, December 5 Dec. 5: Letters regarding appraisal transfers, artificial intelligence, and efficiency; Saturday Spotlight: Maxwell

  In late breaking news, yesterday morning I’d found that the garbage man had left an Alcoholics Anonymous (AA) flyer on my recycling can. Come on vaccine! The mortgage industry is...
• Friday, December 4 Dec. 4: Servicing, MLO, Ops jobs; cybersecurity, VA IRRRL, non-QM tools; events & training; odds & ends around the biz

  Have you ever wondered why so many lottery winners go broke? If they had any financial sense, they wouldn’t have bought a lottery ticket in the first place. (By the...
• Thursday, December 3 Dec. 3: AE, MLO, Solution Engineer jobs; capital markets best ex, sales tools; Non-QM biz update; economic rebound losing steam?

  With the COVID pandemic, it doesn’t quite seem like we’re in the middle of pro football season, although apparently the folks in Jacksonville will do anything for their team. Speaking...
• Wednesday, December 2 Dec. 2: MLO jobs; docs, accounting, jumbo, appraisal, customer service products; rates moving with stimulus rumors

  Fun with numbers for Hump Day! Numbers were behind HP’s decision to leave California for Houston. Thank you to Len T. who sent along a great chart of the names...
• Tuesday, December 1 Dec. 1: AE, LO, broker jobs; bank statement, retention, subservicer review products; upcoming webinars, many this week

  In equity news, despite some predictions to the contrary, the market had its best month since 1987. This, in the face of renewed layoffs and economic scaring in the service...
• Monday, November 30 Nov. 30: Production, Ops jobs; VA, VA IRRRL, non-QM products; USDA, FHA, VA stats worth a skim: programs evolving

  Thank you to Tracy C. sent, “An unemployed court jester is nobody’s fool.” There are millions of unemployed U.S. citizens, and the CFPB, HUD, and other federal agencies have partnered...
• Saturday, November 28 Nov. 28: Letters about improving processing and AMCs transferring appraisals; SOFR, LIBOR, and ARM news

  2020 isn’t over yet… we still have December. Tiger King, global pandemic, a U.S. president who says that the election isn’t over, fires and floods, and now minks rising from...
• Friday, November 27 Nov. 27: High level Ops, Implementation jobs; demographics for MLOs on who is locking and who isn’t, and why

  Left over pumpkin pie for breakfast today? Have you begun your company’s Holiday Cookbook yet? (Help corporate culture by sending an email, ad a recipe, send it on to someone...
• Wednesday, November 25 Nov. 25: AE, MLO, Ops jobs; doc, sales, broker tools; disaster updates; investors react to Freddie & Fannie changes

  Second only to the excitement of the new phone book coming, the new conforming loan limit is $548,250 for 2021, up from $510,400 in 2020, and some investors reacted. (More...
• Tuesday, November 24 Nov. 24: CTO, MLO, Ops jobs across the country; customer service, eSignature tools; MLO yield curve primer

  Remember when you drove to work every day? For non-mortgage kicks, here’s a site where you can take a virtual drive through dozens of cities around the world, setting the...
• Monday, November 23 Nov. 23: Ops Manager, AE, MLO jobs; appraisal, sales, relationship products; debating Freddie & Fannie’s future

  Sunday morning I was trying to explain to my cat Myrtle how the total cost of rescuing a stranded Matt Damon in all of his films (think Saving Private Ryan,...
• Saturday, November 21 Nov. 21: Vendors rolling out new technology, engaged in M&A and partnering, increasing customer service

  Earlier this week I wrote about technology, and that a few old wooden crank telephones were circulating in the family. The note prompted all kinds of stories about the first...
• Friday, November 20 Nov. 20: Product Mgt., MLO, Ops jobs across the country; VA IRRRL, training events; mortgage servicing news

  Many years ago I was hanging out with George Clooney and made the mistake of telling him, “Look, you’ll never amount to much as an actor. You’d be much better...
• Thursday, November 19 Nov. 19: Sales, Ops, QC jobs; retention, VOI, broker products; Ops & processing changes

  “Life is like a helicopter. I don’t know how to operate a helicopter.” Remember how exciting it was when the technology of spellcheck came along? (People handwrite “congrats” on cards...
• Wednesday, November 18 Nov. 18: AE, Ops, LO jobs; VOE, cash flow, remote work tools; companies performance mimicking industry’s

  If you had 20 million close friends, and each one owed $500k on their house, the total would be $10 trillion of mortgage debt. Coincidentally, that is how much mortgage...
• Tuesday, November 17 Nov. 17: AE, MLO jobs; income, workflow, customer service tools; Agency personnel changes regardless of salaries

  Predictions? Show me one person, a year ago, who forecast what has happened (so far) this year! (I went to see a psychic the other day. I knocked on the...
• Monday, November 16 Nov. 16: CFO, MLO jobs; customer service, QC, marketing, servicing products; events & training from your living room

  Here’s a good one. “I’m giving up drinking until Christmas. Sorry, wrong punctuation. I’m giving up. Drinking until Christmas.” Did you know that 1/20/2021 (Inauguration Day) is a palindrome!? Or...
• Saturday, November 14 Nov. 14: Appraisal fee changes; Credit Risk Transfers help rate sheet pricing: current thinking & examples of secondary deals

  We have twelve days until Thanksgiving, first celebrated in the fall of 1621 when the Pilgrims gathered, back when we were allowed to gather, to hold a three-day feast celebrating...
• Friday, November 13 Nov. 13: CFO position wanted, MLO, cap. mkts. jobs; private money, marketing products; private MI company updates

  Welcome to the first Friday the 13th of 2020 since March. What an eight months! Cindy E. writes, “The longer I stay at home, the more homeless I look.” I...
• Thursday, November 12 Nov. 12: MLO, Ops jobs; Marketing, non-QM, jumbo products; company news re: lenders, investors, & originators

  Are the election results under control? Thank you to Hawai’i’s Joe G. who sent along this site where the odds of who the next president will be are posted; you...
• Wednesday, November 11 Veteran’s Day: Correspondent, MLO jobs; transitions rampant; broker, AMC, marketing products; Freddie & Fannie in the news

  The 11th hour of the 11th day of the 11th month… Do the veterans in your life a favor by forwarding them this list of discounts around the nation. Speaking...
• Tuesday, November 10 Nov. 10: Sales mgt., MLO jobs; digital, marketing, correspondent, ROI tools; disaster updates; collateral valuation trends

  The headlines continue to blare and attract attention. HUD Secretary Ben Carson tested positive for coronavirus? True. Some foreign leaders not congratulating Joe Biden? Correct. President Trump fired the Secretary...
• Monday, November 9 Nov. 9: MLO, Correspondent, Ops jobs; recruiting, non-QM, sales, servicing tools; credit & income shifts; vaccine news pushing rates

  First Sean Connery, and now Alex Trebek! Their time together on Jeopardy is legendary. (“Please refrain from using ethnic slurs!”) The last time I checked, “ethnic” is not a bad...
• Saturday, November 7 Nov. 7: Vendor news; letter about IMBs and M&A; support your state organization; Saturday Spotlight: DocProbe

  Jokes and memes are flying. Here’s one for you. “I grew up in Russia. We had the results long before the polls even opened.” Or “Did you hear that the...
• Friday, November 6 Nov. 6: MLO & Ops jobs; rental, warranty, processing tools; USDA, FHA, VA, Ginnie developments while votes are counted

  Eyes are focused on U.S. vote counting, but winter is coming in the Northern Hemisphere, and what impact will that have on outdoor dining, and in turn, restaurants and their...
• Tuesday, November 3 Nov. 3: Marketing, head of production jobs; training, automation, LOS products; company specific industry snapshots

  What are companies doing with the 2020 money they were going to spend on travel and entertainment? Saving it for the second half of 2021? Last week I paid a...
• Monday, November 2 Nov. 2: Ops & sales jobs; database, servicing, non-QM, income analysis products; upcoming training & events

  Some would say that the year is either flying by, others would suggest it is slowly bumping along the bottom. Either way, here we are in November, and turkey farmers...
• Saturday, October 31 Halloween: Now is the time to help your national, state, & local organization; Housing policy primer

  Neighbors upset at pole dancing skeletons in Houston? Yup. And now for something completely different, overseas! Plenty of mortgage brokers read this commentary, but the self-proclaimed “world’s leading high-net-worth mortgage...
• Friday, October 30 Oct. 30: Tech, Ops, MLO jobs; VOE, broker, non-QM, social media tools; 1.5 percent security takes off

  Happy X/XXX/XX if you are a Roman. Rome certainly had its share of slaves, and the existence of slavery in one’s family has certainly caused consternation in the present day...
• Thursday, October 29 Oct. 29: Sales & Ops jobs; Cap. mkts., LO comp survey, fulfillment, retention tools; M&A advice; Agency-related changes

  This weekend we receive an extra hour of 2020. If there was ever a reason to end the time change, this certainly is it! Markets don’t like uncertainty, and nothing...
• Wednesday, October 28 Oct. 28: Credit manager, sales, Ops jobs; marketing, broker, contactless closing products; investors & adverse mkt. price moves

  Surely not everyone was kung fu fighting, right? I hope that we don’t see any fighting after November 3. I love to ask people, who think we’re going to see...
• Tuesday, October 27 Oct. 27: Encompass, correspondent, MLO jobs; pricing, subservicing, marketing tools; California investor disaster news

  Etch A Sketch is buying Rubik’s Cube? Who can keep up? What does a lender do when they’ve hit operational capacity, and don’t want to disappoint LOs with 60-day purchase...
• Monday, October 26 Oct. 26: Mgt., AE, Ops jobs; Retention, AI, non-QM, accounting products; Southeast disaster updates

  The most reliable way to forecast the future is to try to understand the present. Vendor M&A is rampant (the latest being First American acquiring ServiceMac). Although there is no...
• Saturday, October 24 Oct. 24: LO comp & MSAs; LIBOR to SOFR investor changes; vendor news; Saturday Spotlight: Orion Lending

  Busker: a person who performs music or other entertainment in public places for monetary donations. There was the Scottish busker who lost his guitar, only to have Jack White pay...
• Friday, October 23 Oct. 23: Cap. mkts., MLO, sales jobs; marketing, rep & warrant, hedging products; deep dive on rates & MBA forecast

  Let me state for the record that I am not a robot, although I often seem to be asked to check a box on certain websites by… robots. This article,...
• Thursday, October 22 Oct. 22: Bank, construction, Ops jobs: 203(k), credit, doc tools; IPOs, debt offerings, lenders & investors making moves

  40 million people have already cast their vote in the election is unprecedented. I can hardly wait to return to “precedented times,” “unprecedented” favored to win “Word of the Year”...
• Wednesday, October 21 Oct. 21: Sales mgt., MLO jobs; shell available; servicing, marketing, automation tools; temporary relief from the CFPB

  Want some guidance? “If you get a loan at a bank, you’ll be paying it back for 30 years. If you rob a bank, you’ll be out in 10 years....
• Tuesday, October 20 Oct. 20: Ops, MLO jobs; training, servicing, tech, broker tools; events & training; Freddie & Fannie: changes keep flowing

  For all you Romans out there, happy X/XX/XX. As we sail through October, are these the best quarters to be an originator, or a lender, ever? Yes. If you believe...
• Monday, October 19 Oct. 19: Compliance, AE, MLO jobs; marketing, broker, servicing products; online disclosure survey & chatter

  Fifteen days until the election! How many days would it take you, or the company that employs you, to save up $11 million? In my discussions with CEOs, they are...
• Saturday, October 17 Oct. 17: Vendors partnering, raising money, introducing new products; Saturday Spotlight: Service 1st

  Remember last Halloween when the Accounting Department, decked out like a M*A*S*H unit, trounced the Shipping Department, done up like The Sopranos, to claim the company Halloween prize? That won’t...
• Friday, October 16 Oct. 16: JV, MLO, Ops jobs; MSR valuation, training, non-QM, retention, tax tools; new jumbo wholesaler; 2006 vs. 2019: nothing is forever

  What’s more important, spending money on the latest iPhone, or taking care of your body? Every Thursday we receive Initial Jobless Claims statistics, and usually on the first Friday of...
• Thursday, October 15 Oct. 15: MLO, Ops jobs; shell wanted; broker, retention, doc products; investors react to USDA, FHA, VA changes

  When I grow up, I want to live in… Estonia? If you need a break, and are thinking about leaving the U.S., take a gander at some highly-ranked work from...
• Wednesday, October 14 Oct. 14: Controller, Ops, MLO jobs; CFO for hire; appraisal, broker tools; Treasury auction primer: why lenders should care

  I really wanted to mix things up today so decided to send this commentary out from the other side of the dining room table this morning. Yippee! Speaking of mixing...
• Tuesday, October 13 Oct. 13: MLO, two capital markets jobs; credit, sales, subservicing, fulfillment products; webinars & training of all sorts

  If I were going to open up a store for eyeglasses, I’d make the sign in front of the building blurry. Lenders now don’t have to be so clever, as...
• Monday, October 12 Oct. 12: Sales, Ops jobs; ECOA, recruiting, onboarding tools; non-QM, servicing webinars; Ginnie & FHA wide-sweeping changes

  After I sent the commentary out on Saturday, 10/10/20, a few folks reminded me that Saturday’s date, in Roman Numerals, was X/X/XX. Ancient curiosities aside, we were doing some home...
• Saturday, October 10 Oct. 10: Agency CRT primer and news; Fed President & economic conditions; Saturday Spotlight: Evergreen Home Loans

  I sent my commentary out a little early this morning. I was up before my usual time dealing with someone who had pulled into my driveway instead of the 24-Hour...
• Friday, October 9 Oct. 9: QC, Ops, non-QM AE jobs; real estate agent, pooling, CRM, processing tools; Galton Funding sold; CFPB, RESPA, MSA news

  Eddie Van Halen advised, “You only have twelve notes. Do what you want with them.” Twelve is probably the number of undecided voters in the U.S. at this point. Political...
• Thursday, October 8 Oct. 8: Ops Mgr., MLO, Ops jobs; Capital markets products; retention, direct mail, VOE tools

  Illinois, Alaska, and California. This morning’s drama revolves around the next presidential debate (virtual or not) but folklore tells us that it was on this date in 1871 Mrs. O’Leary’s...
• Wednesday, October 7 Oct. 7: CU jobs; VOE, valuation, accounting CRA eligibility products; training & events from your telephone

  You have a couple workdays under your belt this week, so let’s take a one paragraph break from mortgage stuff. Pumpkin patches are here, and every parent worth their salt...
• Tuesday, October 6 Oct. 6: IT & sales management, Ops jobs; operations, forbearance products; training webinars; women leaving workforce

  Yes, here we are at the 10th month of the year. You know, “Dec” ember. Oh, this is “Oct” ober. There’s a reason. The numerical names of months date back...
• Monday, October 5 Oct. 5: CD, sales, innovation jobs; CEO role wanted; webinars; compliance, database tools; disaster updates

  Are you sure that the underwriter or processor working from home isn’t working simultaneously, on a different laptop, for another company besides yours? My guess is that it would be...
• Saturday, October 3 Oct. 3: Rocket, UWM, Guild, AmeriHome, Caliber… don’t be the last on your block to go public; Saturday Spotlight: Planet Home Lending

  Remember Jack and Rose running through the engine room of the Titanic? Nearly every residential lender is going balls to the wall (or balls out) and continuing to set production...
• Friday, October 2 Oct. 2: Controller, Ops, MLO jobs; training, SPOC, non-QM, MERS products; Bonds little changed despite uncertainty

  We’re finally in October, which means one thing is certain: that all the cobwebs and dust in my house just became Halloween decorations. Markets don’t like uncertainty, but something else...
• Thursday, October 1 Oct. 1: Correspondent, wholesale, retail jobs; processing, marketing anti-fraud tools; NextGen homebuyer report; eClose usage stats

  Fourth quarter already!? Was the third quarter of 2020 the best quarter ever to be in residential lending? Will the fourth quarter beat it? While much of our economy unfortunately...
• Wednesday, September 30 Sep. 30: Servicing, MLO, Ops jobs; compliance, jumbo products; webinars & training; a look at housing & jobs & stable rates

  Welcome to the start of Fat Bear Week in Alaska. (There’s even a Park Service bracket with the favorites… expect upsets!) It’s probably easier to forecast the fattest bear than...
• Tuesday, September 29 Sep. 29: AE, MLO, Ops jobs coast to coast; re-branding, finance, digital tools; STRATMOR industry observations

  Here’s a brief video refresher of our tax code if anyone needs it. If eight months ago someone had told you to pick a country where there is a mudslinging...
• Monday, September 28 Sep. 28: Sales, ops jobs; hiring process analysis; sales, marketing, fee collection, margin tools; flood insurance questions

  Thank you to those who wrote commenting about the Yelp study showing that 164,000 businesses across our nation have closed since March. “Bouncing back” quickly from that is not likely,...
• Saturday, September 26 Sep. 26: Vendors partnering, merging, being acquired, offering new products; Saturday Spotlight: Assurance Financial

  I try not to repeat information, but I felt that this study, which I had yesterday in the Capital Markets section of the Commentary, warranted it given that it relates...
• Friday, September 25 Sep. 25: Sales & ops jobs; marketing & credit products; cybercrime update; why MLOs should watch stimulus quagmire

  TGIF! Do Fridays mean as much as they did up until mid-March? Yes! Well, maybe. How about some non-mortgage stuff? There is, after all, life outside of RESPA. It’s crazy...
• Thursday, September 24 Sep. 24: Ops, LO, AE jobs; CFO roll wanted; broker, construction, MSR management products; using digital for customer service

  I need to make a dart board for the wall behind me for Zoom calls that has “rates up” and “rates down” and “rates the same” on it. Until we...
• Wednesday, September 23 Sep. 23: Ops, sales jobs; marketing, AMC, subservicer products; company webinars; GSE changes & thoughts on them

  I know that plenty of folks at United Wholesale read this commentary, and the company is in the news about a merger that will take UWM public valuing it at...
• Tuesday, September 22 Sep. 22: VP of CD, Ops, LO jobs; ROI, workflow, underwriting tools; training & events; improving forbearance stats

  Today (Tuesday), while Washington DC “sucks the air out of the room,” welcome to the Autumn Solstice (Equinox) in the U.S., the day when the Sun appears to cross the...
• Monday, September 21 Sep. 21: MLO, Ops jobs; retention, co-op products; events & training; USDA rural conditional commitments

  If you watch the news long enough, you see all kinds of interesting things. Cracker Barrel is adding alcohol to its menu? Yup! And you must watch this clip with...
• Saturday, September 19 Sep. 19: Out-of-the-ordinary secondary market deals; primer on help for borrowers from HFAs; Saturday Spotlight: Truework

  This week the lack of volatility in the bond market, and thus Agency mortgage rates, was made up for in other news. Lee Farkas was released from prison. As a...
• Friday, September 18 Sep. 18: Ops & MLO jobs; eClosing, compliance, IRRRL products; plethora of disaster policy news; rates hardly budging

  Before the pandemic I used to spin that toilet paper roll like I was on Wheel of Fortune. In March and April I turned it like I was cracking a...
• Thursday, September 17 Sep. 17: Ops jobs; credit score, lead source, QC products; free Western Secondary & other events; Agencies react to disasters

  Why is it that every time I call some place, I hear the recording, “Wait times to speak to a representative are longer than normal.”? Why can’t I ever figure...
• Wednesday, September 16 Sep. 16: Ops, production, VP Consumer Direct jobs; jumbo, CRM, anti-fraud, CD products; Ginnie hits $2.1 trillion

  The Fed Funds futures market sees the Fed holding pat on rates well into 2022. What could cause rates to go up? A vaccine. Until definitive news like that comes...
• Tuesday, September 15 Sep. 15: TPO, MLO jobs; pricing, trigger products; comp survey & retaining employees; webinar/training via phone & computer

  I’ve spent time in Colorado and Utah in the last few days, and what I’ve seen and heard reminds me that a lot of the financial decisions families make are...
• Monday, September 14 Sep. 14: Ops jobs; recruiting, sales, valuation, rehab products; non-QM moves in the primary & secondary markets

  People can accomplish a lot in a day. And lenders are continuing to hire like mad dogs (if mad dogs had HR departments), especially non-bank lenders. The Mortgage Bankers Association...
• Saturday, September 12 Sep. 12: CFPB’s VA lender settlements & other compliance notes; Saturday Spotlight: Academy Mortgage

  Political news isn’t confined to the presidential candidates, of course, or even Washington DC. Out in California, Gavin Newsome’s (D) real estate and mortgage moves are attracting scrutiny. Three thousand...
• Friday, September 11 Sep. 11: Promotions & transitions; jumbo, 2nd lien, MERS QC audit products; U.S, economy motoring onward

  Plenty of people tell me that I should “head down to Clown Town.” I never know quite how to take that. But now we have “Zoom Towns,” and thank you...
• Thursday, September 10 Sep. 10: Ops jobs; branches, mgt. position wanted; QC, marketing, VOE tools; primer on credit availability

  I don’t know exactly when it happened, but somewhere along the line my dog learned the noise the cheese grater makes when I pull it out of the drawer. (Taking...
• Wednesday, September 9 09/09/2020: Ops & sales jobs, coast to coast; S&D, CRM, marketing, fraud products; mortgage apps move higher

  Tom Petty sang, “There’s somethin’ good comin,’ just over the hill, somethin’ good comin’, I know it will. And I’m in for the long run, wherever it goes, ridin’ the...
• Tuesday, September 8 Sep. 8: CFO, processor, Ops, LO jobs; non-QM, servicer, sales, training tools; time required to hack a password

  On one hand we have the old adage, “No tree grows to the moon.” On the other hand, MLOs and real estate agents are licking their chops given that 52...
• Saturday, September 5 Sep. 5: Vendors are busy beavers; LIBOR phase out and transition: why should MLOs care?

  Two months until the election, and soundbites are heating up. Compare Dan Rather’s, “The Donald Trump reelection strategy appears to be that only Donald Trump can save us from Donald...
• Friday, September 4 Sep. 4: LO, CD jobs; database, HELOC, digital tools; vendor & lender products continue to shift

  As we head toward the Autumnal Equinox on 9/22, places like Seattle and Minneapolis are losing four minutes of sunlight a day. Something else that is losing ground almost as...
• Thursday, September 3 Sep. 3: Ops, LO, AE jobs; workflow, lead, processing, renegotiation products; coming events; who owns 1/3 of Agency MBS?

  “It was the third of September, that day I’ll always remember, yes I will… Wherever he laid his hat was his home… And when he died, all he left us...
• Wednesday, September 2 Sep. 2: Marketing, income, onboarding, HECM tools; jumbo, non-QM, misc. product updates; do-it-yourself appraisals

  I don’t know whether my Nolan Ryan rookie card, fortuitously spared from my bike spokes decades ago, is worth $500 or the 10 cents I spent for the pack (with...
• Tuesday, September 1 Sep. 1: AE, Ops jobs; shell wanted; jumbo, servicing products; webinars; after 12 years of conservatorship, Agencies very much in the news

  There’s a fine joke about bowling balls and tennis balls and golf balls which I won’t repeat here, but let’s go down the scale of “numerical magnitude.” Today, the NY...
• Monday, August 31 Aug. 31: Ops, TPO Sales jobs; forbearance, correspondent, title, broker products; lots of training & virtual events

  No one owns a crystal ball. It seems that the best LOs and CEOs keep up on the news and trends but focus on helping borrowers one at a time,...
• Saturday, August 29 Aug. 29: Vendor M&A & other news; disaster updates; private money; CFPB & HMDA; Saturday Spotlight: CBC Mortgage Agency

  Do you lend, or have clients that lend, in Texas, Louisiana, or Mississippi? Prior to Laura not being quite the “stormzilla” that the experts had predicted, ClosingCorp estimated that more...
• Friday, August 28 Aug. 28: Ops jobs; broker extension, secondary revenue, compliance tools; deep look into new Fed policy

  I remember when I would travel to exotic places like London, England, Lima, Peru, or Biloxi, Mississippi. From Southern California, thank you to Carey A. sent along this interesting site...
• Thursday, August 27 Aug. 27: Virtual job fair, MLO, CD, AE, Ops jobs; VOE, VOI, pricing tools; industry’s conventional price shifts

  While Louisiana is focused on Hurricane Laura, 2,200 miles away California is focused on its wildfires… and regulations. Remember that about 25 percent of the United States’ residential loan production...
• Wednesday, August 26 Aug. 26: Servicing, MLO, Ops jobs; marketing, automation, tech mgt. tools; .5 Agency refi hit delayed – now what?

  Are you busy but bored? I am. (For variety and excitement I used a big spoon instead of the usual small spoon for my Cocoa Krispies while writing this.) And...
• Tuesday, August 25 Aug. 25: Ops, LO jobs; AI, forbearance, comp tools; training & events through your computer & telephone

  2019: Stay away from negative people. 2020: Stay away from positive people. Like it or not, depending on how “old school” you are, companies in recent years have wrestled with...
• Monday, August 24 Aug. 24: Finance, AE, Ops, LO jobs; customer service, income tools; Agency jungle drums are beating

  Winter is coming. I don’t need a new coat to walk from my bedroom through the kitchen and into the dining room to work on this commentary. Who is buying...
• Saturday, August 22 Aug. 22: M&A observations; vendor news; notes on the housing market; Saturday Spotlight: Constant

  The political jokes are flying out there. “You’d think a guy with a mail order bride would have a little more respect for the post office!” “My name is Joe...
• Friday, August 21 Aug. 21: Training, Ops, LO jobs; MSR, conversion, EPO products; public company snapshots worth a skim

  RCIII writes, “I don’t know about you, but I’m ready for some precedented times.” But Tom Petty wrote, “Well, the good old days, may not return… And the rocks might...
• Thursday, August 20 Aug. 20: Sales mgt., LO, Ops jobs; leads, tech tools; CFPB, LO Comp, G-Rate legal ruling in the news

  In these times that lenders describe as busy, profitable, and overheated, capital markets personnel are focused on margin & capacity management, staff burnout, servicing values, and warehouse capacity. With lenders...
• Wednesday, August 19 Aug. 19: Ops, MLO jobs; production shell wanted; CRM, productivity, marketing products; FHA’s new appraisal delivery product

  Three weeks ago the Commentary included a webcam shot of Warrior Canine Connection’s Puppy Cam. (They’ve grown. Rated PG, depending on what they’re up to when you tune in.) What...
• Tuesday, August 18 Aug. 18: Ops, MLO, AE jobs; training, marketing, compliance tools; MI industry snapshot; strong housing numbers

  “Last night I was a hero! I rescued some beer that was trapped in a bottle.” All of our lives are changing, and thank you to Lydia O. for sending...
• Monday, August 17 Aug. 17: Sales mgt., FHA, LO jobs; retention, non-QM products; training & events; investors react to FHFA’s price shift

  Out in California and parts of the West it’s “hotter than Satan’s house cat.” California is once again having rolling power outages, and an opinion piece by the ex-CEO of...
• Saturday, August 15 Aug. 15: FHFA’s refi price change – TILA implications, impact on risk, not everyone is complaining; Saturday Spotlight: Usherpa

  For some reason the expression, “Balls to the wall” causes giggling and sidelong glances. Any student of idioms, however, can tell you that the expression came from pilots. In older...
• Friday, August 14 Aug. 14: Controller, MLO jobs; ROI, broker, AI, jumbo products; compliance and state-level legal news

  Hundreds of thousands of people in the lending industry, their borrowers, and vendors are grappling with the refi price hit announced Wednesday evening by FHFA Director Calabria. From the Carolinas...
• Thursday, August 13 Aug. 13: Special Edition – The GSE price move, it’s impact on borrowers, and how to write to your Senators & Representative

  “The reason grandparents and grandchildren get along so well is that they have a common foe.” One doesn’t like to think about parents as a foe, any more than one...
• Wednesday, August 12 Aug. 12: Risk management job; VOE, loan delivery, lead source products; misc. investor & lender changes

  Dating in college is a matter of many things. I mention this because I wondered what colleges were recommending about COVID, and the University of Georgia answered that with a...
• Tuesday, August 11 Aug. 11: MLO jobs; marketing, servicing, comp tools; FHA & Ginnie changes roll on; economic gyrations: rates creep higher

  Me: “I want to travel.” Bank account: “Where? To work?” Think of people in their 20s and 30s. They’ve grown up with 9/11, the Financial Crisis, and now this coronavirus....
• Monday, August 10 Aug. 10: Ops, LO, FHA jobs; marketing, cap. mkts. products; webinars in the comfort of your home

  “Paranoia is out of control: This morning, while reviewing this commentary, I sneezed in front of my laptop and the anti-virus software started a scan of its own!” The nation...
• Saturday, August 8 Aug. 8: Is the Agency CRT program endangered? Economic tidbits; Saturday Spotlight: LBA Ware

  Does running from my responsibilities count as cardio? There are a lot of groups responsible for running the production of economic statistics of varying quality. The United States now finds...
• Friday, August 7 Aug. 7: Accounting, sales, Ops jobs; reverse, training, VA tools & products; Ellie’s $11 billion sale & other vendor news

  Let me get this straight. It’ll take a year or two for a cure for a virus that can be killed with hand sanitizer, soap, and hot water? COVID is...
• Thursday, August 6 Aug. 6: Cap. mkts., U/W, AE, LO jobs; risk tool; webinars & training; servicing & MSR update; rates continue lower

  Originators and lenders are having a great summer from income and profitability perspectives. The thick margins are making managers look like champs, arguably covering up other issues that would normally...
• Wednesday, August 5 Aug. 5: Ops, AE jobs; Analytic, business practice, income, compliance products; renewing the non-QM segment

  Since eating inside a restaurant is problematic, now’s the perfect time to eat better at home, get fit, and stay healthy. Never mind: Who are we trying to impress? We...
• Tuesday, August 4 Aug. 4: Senior management, AE, LO, Ops jobs; marketing, database tools; disaster updates; cap. markets & root canals

  Sure, you’re making bank now, but are you planning for next year? Is your company doing anything to “team up”? Many lenders, vendors, and real estate companies have strategic partnerships...
• Monday, August 3 Aug. 3: CU, Ops, LO jobs; fraud, retention, legal products; August training without leaving your La-Z-Boy

  Remember a month ago, heading into the July 4th weekend, a resurgence of Covid-19 cases (which many officials attributed to large Memorial Day gatherings) resulted in mask-wearing mandates as well...
• Saturday, August 1 Aug. 1: Letters on iffy government data, forbearance, the Fed; LIBOR transition update; Saturday Spotlight: Capacity

  In Scotland, many owners paint their front door red when they pay off their loan or own the house debt-free. Is an all-cash buyer the biggest competitor for a broker...
• Friday, July 31 July 31: Servicing, appraisal, Ops, sales jobs; broker, valuation products; FHA, & Ginnie changes; HUD addresses the self-employed

  Whether it is Northern Virginia or Lake Tahoe, we’re running out of houses. The pandemic has caused a buyer feeding frenzy away from apartments and city cores. Heck, I can...
• Thursday, July 30 July 30: U/W, LO, AE jobs; loss mit, retention, valuation tools; LOS survey; deep dive into economic news & cap markets

  Lenders are “tonning it,” as indicated by Fannie Mae’s net income of $2.5 billion for the second quarter of 2020, compared with net income of $461 million for the first...
• Wednesday, July 29 July 29: Underwriting, subservicing, AVM, pricing tools; Conforming conventional updates; bonds quiet

  You’ve made it to Hump Day yet again, and as a reward, how about this webcam shot of Warrior Canine Connection’s Puppy Cam?! (Hey, it’s my commentary; I can put in...
• Tuesday, July 28 July 28: Ops, LO jobs; sales, workflow, customer service tools; Black Knight to add $1.8 OB to $62 million Compass asset

  I could see that my cat Myrtle was miffed last night. I doubt if it had anything to do with the supply chain issues impacting appliances and new home construction,...
• Monday, July 27 July 27: Sales, consulting, Ops, LO jobs; sales webinar; world news driving rates, primer on the belly of the yield curve

  In these days when you can’t even get 100% of Americans to agree that water is wet, we have hurricanes, gold prices skyrocketing, COVID relief debates, and ninety-nine days more...
• Saturday, July 25 July 25: Credit Risk Transfers helping mortgage rates; SOFR transition status; Saturday Spotlight: Thrive Mortgage

  All the smart folks are predicting these low rates and high residential volumes to continue through the year. (I remind people that no one was predicting all of this precisely...
• Friday, July 24 July 24: Regional manager, AE, LO jobs; automation, credit, AI tools; up to speed on tax transcripts

  I don’t know if there is going to be a pro football season or not, with lines of scrimmage & heavy breathing 11 inches apart for hundreds of linemen every...
• Thursday, July 23 July 23: Ops, LO jobs; underwriting, forbearance, one-time close, marketing tools; loan processing changes

  Loan officers are known for “holding the hand” of their borrowers. Now Google would like to hold the other. With the help of the CFPB, and launched yesterday, searching “mortgage”...
• Wednesday, July 22 July 22: Ops jobs; digital, servicing, ECOA products; webinars to wrap up July; Agency changes continue

  The names “Google” and “Alphabet” are the answers to many trivia questions involving search engines, market value, and advertising. If you think Google doesn’t know (and record) exactly what you’re...
• Tuesday, July 21 July 21: AE, LO jobs; training, eClosing, broker, servicing products; USDA rural tidbits; forbearance stats improving

  Originators, as Deb from Virginia reminded me, are currently like ducks: cool and calm on the surface, paddling frantically underneath. Originators like low rates, but not if their clients can’t...
• Monday, July 20 July 20: AE, Ops, LO jobs; marketing, risk, data retrieval tools; wholesaler news; rates: steady as she goes

  After the shaman finished my taxes last week over the phone, we struck up a conversation about working from home, pros and cons, since it appears that most will be...
• Saturday, July 18 July 18: National Broker Day; letter about current lender concerns; vendor updates; Saturday Spotlight: Sales Boomerang

  On a side note, a lot of people ask how I can write six commentaries a week. At first, I thought they were impressed by my industry, but lately the...
• Wednesday, July 15 July 15: Ops, AE, LO jobs; non-QM, QC, construction loan products; events & training; big bank mortgage stats

  I woke up this morning trying to remember if I was working where I am living, or living where I am working. “Personal” and “professional” often overlap. Caliber, and other...
• Tuesday, July 14 July 14: LO, U/W jobs; data, loss mit, disclosure, comp products; flood & disaster changes

  Here’s your life graphically under COVID. Many in our business will argue that homes should not be used as piggy banks, COVID or no COVID. For others it is their...
• Monday, July 13 July 13: QC, Ops, LO, reverse, AE, correspondent jobs; marketing, TPO products; wholesale updates & mudslinging

  While in captivity it is important to remember good grooming is important. Good communication is important also. Are salespeople all on the way to having two cell phones, and two...
• Saturday, July 11 July 11: Supply & demand on bananas, hard seltzer, and… wood prices!? Saturday Spotlight: PrimeLending

  “History is not there for you to like or dislike. It is there for you to learn from it. And if it offends you, even better. Because then you are...
• Friday, July 10 July 10: Ops, LO, AE jobs; servicing, lead, marketing products; flood of conventional conforming changes

  Bubonic plague in China? What’s next, frogs falling from the sky? Water turning into blood, darkness for three days? A big bank requiring $1 million in your account for some...
• Thursday, July 9 July 9: QC, LO, reverse opportunities; sec. mktg., marketing products; compliance news: is a “like” a “thing of value”?

  United Airlines may lay off 36,000? Bed, Bath, and Beyond closing 200 stores? Walgreen’s cutting 4,000? Yup. Lower rates won’t save those jobs, but we’ll have low rates for a...
• Wednesday, July 8 July 8: U/W, LO, processor jobs; lead, broker, AMC products; upcoming training; a peak at Rocket Companies

  Crazy times. Brooks Brothers filed for Chapter 11 bankruptcy. Rocket Companies filing for an IPO. Genworth Mortgage Insurance completing an excess of loss reinsurance transaction. It is easy to argue...
• Tuesday, July 7 July 7: AE, Ops, LO jobs; marketing, processing, training tools; industry & lender forbearance trends

  This morning analysts are talking about the 5 million people of Melbourne, Australia now under a new 6-week lockdown. Lockdown! In this country, we have four long months until the...
• Monday, July 6 July 6: U/W, production jobs; DPA, leads, PMI products; investors ruminate on employment data: shrug?

  Here’s a blunt reminder of what can go dramatically wrong in a fireworks stand. And here’s a blunt email that I received over the weekend. “Rob, what don’t people understand?...
• Friday, July 3 July 3: Recent depository mortgage jobs; vendor news; primer on yield curve control: price vs. quantity

  Yes, I know that today is a holiday for many companies, and well-deserved. But I wanted to put three topics out there, including vendor news, to play some catch up....
• Thursday, July 2 July 2: Fulfillment, AE, LO jobs; anti-fraud, DPA, HMDA products; non-QM news in primary & secondary markets

  Lenders continue to count the piles of doubloons they booked during another record-breaking month; will July be another? M&A deals are still simmering out there, but when profits are “en...
• Wednesday, July 1 July 1: COO, Ops, AE, LO jobs coast to coast; broker, marketing products; mortgage rates: “steady as she goes”

  Thank God for the Rolling Stones: They’re older than we are! Halfway through 2020 already? Welcome to Q3! Social D. sang, “Life goes by so fast; you only want to...
• Tuesday, June 30 June 30: Ops, LO jobs; servicing, inspection, loss-mit products; CFPB’s structure to change; Ginnie adjusts pooling requirements

  Some days you don’t learn much, other days you learn a lot (skip the ad). We’ve learned that COVID is driving our economy, not fundamental economic news, and at this...
• Monday, June 29 June 29: LO & Sales jobs; MSR, marketing, leads products; training & webinars from home

  Does this mean we can no longer say, “Hindsight is always 2020”?! It’s too bad that the Tiger King is the most normal thing about 2020. For the people who...
• Saturday, June 27 June 27: Morale & innovation in WFH environment; Fannie’s recent secondary deals; Company spotlight: Mortgage Sentinel

  With the dramatic increase of COVID-19 cases in the United States and the world, and returning to captivity at home, it is never too early to start working on that...
• Friday, June 26 June 26: LO, Ops jobs; DPA, forbearance, broker products; FHA, USDA tweaks; Treasury/MBS spread update

  There are plenty of tricks in any trade. Just-opened cellulose sponges are already damp because many are premoistened with sterile water. (Without H20, the material shrivels and hardens and looks...
• Thursday, June 25 June 25: Management, Ops, LO jobs; marketing, processing, default products; primer on high bal pricing

  Some things are uncertain, like whether colleges, driven by ticket & TV income, bring back their football players when the rest of the student body “remains virtual” this autumn. (Harvard...
• Wednesday, June 24 June 24: Ops, AE jobs; marketing, broker, tax products; VA, construction webinars; tech partnerships

  Companies worldwide are grappling with continued travel bans, and how to bring back employees in waves, if at all. Others are re-designing office layouts, thinking about renting more space, and...
• Tuesday, June 23 June 23: QC, sales, LO jobs; outsourcing, DPA, marketing products; thoughts on the CFPB’s non-QM proposal

  There are all kinds of things that I don’t, or didn’t, know. For example, the other day I learned that when dogs lap water, they’re actually scooping up water with...
• Monday, June 22 June 22: AE, LO, Ops job; marketing, TPO, cost analysis products; June’s remaining training & events

  After nearly 100 years, Eskimo Pie ice cream will get a new name. (The name “Eskimo” is commonly used in Alaska to refer to Inuit and Yupik people, according to...
• Saturday, June 20 June 20: The non-mortgage issue on voter expectations, news bias, showing homes, and entrepreneurship

  Greetings on the Summer Solstice, made possible by the earth tilting as we circle the sun. (We in the Northern Hemisphere are currently tilted toward the sun, by the way.)...
• Friday, June 19 June 19: Credit, QC, Ops, LO jobs coast to coast; broker, DPA products; residential credit changes

  Lots in the news. Congratulations to the California MBA (and the MBA and lenders everywhere, since nearly 25% of residential loans come from California) which made news by being victorious...
• Thursday, June 18 June 18: Ops, LO jobs; digital, QC, cap. mkts. products; Ginnie & FHA changes & trends

  Capital markets folks focus on risk management every day. The public is getting a taste of another kind of risk management when they go to a bar, tattoo parlor, or...
• Wednesday, June 17 June 17: Sales, Ops, marketing jobs; CRM, processing, buyback insurance products; COVID, the CFPB, credit reports, and rates

  Yesterday afternoon I was doing my quarterly ten minutes of YouTube yoga (“Align those internal organs! “The journey is the reward!”) and my mind wandered to how economists are great...
• Tuesday, June 16 June 16: Marketing, bank statement, processing, servicing products; webinars & events; Freddie & Fannie in the news

  What? You aren’t offering a 30-year rate below 3% yet? Better catch up, because that is where the mainstream press is telling borrowers rates are. Of course, us capital markets...
• Monday, June 15 June 15: Production jobs; marketing, cap mkts, servicing products; correspondent tidbits; webinars & training this week

  With the increase in COVID cases, plenty are heading back into captivity, and it is important to keep a level head. (What is so hard to understand about “stay away...
• Saturday, June 13 June 13: MISMO moves; Housing news; thoughts on BLM; current topics in the compliance world addressed

  It has been nearly three months since we began sheltering in place. Fortunately for lenders, things have quieted down from March’s wild ride, both with rate volatility and in program...
• Friday, June 12 June 12: AE, LO, Ops jobs; DPA, pricing, doc products; USDA, FHA, VA notes

  How the heck could anyone value a mortgage company these days? The value is pretty much comprised of its servicing, cash, receivables, and assets (loans held for sale). I guess...
• Thursday, June 11 June 11: Mgt., LO, training jobs; construction, VA IRRRL, loss mit programs; no “V-shaped” recovery

  Despite the early stages of quarantine and captivity seeming to drag, the year is rushing along. They always do. The Chairman of the Federal Reserve tells us not to expect...
• Wednesday, June 10 June 10: LO, sales, Ops jobs; marketing, AMC, forbearance products; Freddie & Fannie direction

  Not only are origination staffs asking for refreshed marketing efforts as volumes show a tinge of falling off, but how about this note that I received from a CEO of...
• Tuesday, June 9 June 9: AE, AMC, LO jobs; marketing, DPA, underwriting, pricing products; wholesaler changes

  Big picture, in case you haven’t been paying attention, the National Bureau of Economic Research confirmed that the U.S. economy has slowed: The economy hit its peak in February and...
• Monday, June 8 June 8: LO, FHA jobs; marketing, servicing products; training on servicing, VA IRRRL, and other events

  Who doesn’t like being kept informed at absolutely no cost? There is no reason for anyone not to join the Mortgage Action Alliance as the Mortgage Bankers Association is knee-deep...
• Saturday, June 6 June 6: Random vendor news; letters on housing economics & pent up demand

  In response to my real estate agent quote, “No family wants to push an elevator button to go home,” when talking about families looking to move out of the city,...
• Friday, June 5 June 5: Risk, appraisal, LO, AE jobs; broker, DPA, LOS, products; FHA COVID forbearance guidance; payrolls push rates higher!

  Change is certainly constant. “And just like that, every reporter has gone from infectious disease expert to civil rights attorney.” In our biz, if you didn’t make money in the...
• Thursday, June 4 June 4: Management, Ops, LO, AE, DTC jobs; broker, doc products; customer experience study; correspondent changes

  Yesterday afternoon my cat Myrtle was watching me mop the kitchen floor. (Hey, it’s not going to mop itself, right? And it is mildly amusing to use certain products –...
• Wednesday, June 3 June 3: AE, Ops, LO jobs; subservicing, VA IRRRL, workflow products; wholesalers shifting product gears

  From the Bay Area Marcus L. writes, “I miss the days when Tiger King was the most controversial thing going on.” Everything is a controversy these days, including where the...
• Tuesday, June 2 June 2: Sales mgt., Ops, LO jobs; CRM, broker, eClosing products; events for LOs; servicing tactics continue to impact market

  Curfews and civil unrest have replaced COVID in the news. Meanwhile, investors are watching record low debt issuance yields from companies like Amazon and Costco (1.50-1.62 percent 10-year notes, lowering...
• Monday, June 1 June 1: Processor, LO jobs; referral, accounting products; webinars & training through your computer

  I was speaking to a successful long-time real estate agent this weekend who is as busy as she’s ever been. Couples are weary of working from home in a one-bedroom...
• Saturday, May 30 May 30: Credit risk transfer primer; LIBOR transition in the news; thoughts on property value direction

  Gosh, there is a lot of news out there. Is it accurate? When I was a kid there was a half hour, or an hour, of news each night on...
• Friday, May 29 May 29: LO, AE, tech, Ops jobs; portfolio monitoring, non-QM, corresp., broker products; customer satisfaction survey

  Here’s something you can do for your friends, relatives, and borrowers, especially older ones: Remind them that the current batch of coronavirus relief payments are coming as VISA debit cards....
• Thursday, May 28 May 28: Ops, technical, LO jobs; doc, MSR, broker products; private MI companies motor on; continuing jobless claims drop

  With two business days left in May, one can feel the anticipation of the start of the “National Standing Desk League” opener coming up soon. I’m excited about that, and...
• Wednesday, May 27 May 27: Ops, AE, mgt., LO jobs; servicing, DPA, CRM products; warehouse deal news; more investor changes

  Making the rounds is, “The spread of Covid-19 is based on two factors. #1: How dense the population is. #2: How dense the population is.” As a nation, we remain...
• Tuesday, May 26 May 26: Appraisal, LO jobs; broker, eSign, marketing products; USDA, FHA, Freddie, Fannie news & trends

  I doubt if I have ever pressed “7” or “8” on my microwave oven keypad. Speaking of 7 & 8 (I know, a weak segue), originators are keenly aware of...
• Saturday, May 23 May 23: Vendors on the move; warnings about repurchase claims and the impact of forbearance on credit

  Besides the use of the word “unprecedented” having become unprecedented, competition between lenders and vendors is just as strong as ever. “Please keep thinking about me while I’m thinking about...
• Friday, May 22 May 22: Marketing, Ops, LO jobs; CRM, marketing, LO products; tools to help borrowers; rates: a global snapshot

  The Friday before a three-day weekend (honoring the men and women who died while serving in the U.S. military)! Can’t you just feel that anxiousness to go and hike, to...
• Thursday, May 21 May 21: Ops, recruiting, Sec. Mktg., LO jobs; appraisal, QC products; loan processing is changing: Beeline & SnapFi

  Some lenders and vendors are easing back into offices, or at least planning voluntary phases. (Hmmm… wear a mask and have 2 per elevator, or work from home with no...
• Wednesday, May 20 May 20: LO jobs, servicing wanted; broker,correspondent, LOS, CRM products; Agency shifts; remember non-QM?

  Jury trial by Zoom? Leave it to Texas to give it a shot. Michigan and Indiana are now offering the bar exam online for aspiring attorneys. Out of Pennsylvania comes...
• Monday, May 18 May 18: LO jobs; broker, CRM, texting, VA IRRRL products; premium pricing blues; forbearance & Agency news

  “All of our dogs think we quit our jobs to spend more time with them while all of our cats think we got fired for being the loser they always...
• Saturday, May 16 May 16: IMBs, retained servicing, & taxes; CRM advice; co-issue & bifurcation: orange alert? “joke” about perspective

  Now that we have everyone washing their hands correctly: Next week-turn signals!!! Speaking of turn signals, it always amazes me how interconnected things are. (How’s that for an understatement?) I...
• Friday, May 15 May 15: LO, Ops jobs; business opportunities; due diligence, AMC products; yesterday’s noteworthy Agency changes

  I messed up yesterday, not knowing “Bike to Work” Day was postponed until September. Getting out of the bedroom was okay on my Schwinn Varsity, but coming down the stairs...
• Thursday, May 14 May 14: Mgt., LO jobs; reverse, valuation products; Agency/investor changes; mortgage-COVID-video; Powell: prolonged tough times

  As we race toward the Memorial Day holiday on the 25th, for the first time in history we can save the human race by laying in front of the TV...
• Wednesday, May 13 May 13: CRM, marketing, broker, appraisal products; shifts in credit reporting & underwriting

  Remember the old days at a birthday party when someone would blow on the cake before everyone ate it? Things are certainly changing, including processing residential loans. In our biz,...
• Tuesday, May 12 May 12: Ops, LO jobs, business opportunity; marketing, docs, LO products; lender changes continue

  I have a confession to make. I grew up drinking whole milk. In fact, I’m so old, when we were thirsty playing sports on the street, we drank out of...
• Monday, May 11 May 11: Ops, LO jobs; Recruiting tool; lots of webinars & training this week; deep dive on jobs number; California may do what?

  In the last two months everyone figured out the difference between “WFH” and “WTF,” and many in captivity are looking forward to being released, if only temporarily. My cat Myrtle,...
• Saturday, May 9 May 9: Economic trends LOs should be aware of; primer on servicing values: what is the cash return?

  It will be interesting to see if the coronavirus pandemic convinces people to move back out of cities. (Speaking of cities, and living in captivity, thank you to Jennifer W....
• Friday, May 8 May 8: Ops, LO, AE jobs; marketing, broker products; capital markets barely budge after headline unemployment number

  Huh? Your company has 20,000 square feet of office space along 635 in Dallas, or 15 in Salt Lake City, or 405 in Orange County, that’s been empty for two...
• Thursday, May 7 May 7: LO, AE, Ops jobs; CRM, API, broker, marketing products; disaster updates; investor changes continue

  Plenty of people are clamoring to be released from captivity, and changes in staying sequestered or opening up has become political. The lending climate certainly continues to change. Reverse mortgage...
• Wednesday, May 6 May 6: LO jobs; QC, warehouse, pricing products; Agency & investor changes don’t stop; fortunately rates quiet

  May 6th, of course, is the anniversary of the first tequila hangover. Alcohol consumption has increased as people continue to adapt to the working from home “Groundhog Day.” Yes, adapting....
• Tuesday, May 5 Cinco de Mayo: AE, LO jobs; digital, marketing products; tech & training webinars; relentless Agency & investor changes

  As California prepares to open some retail stores, the racoon has been named the official mascot of 2020: washes hands insanely, always wears a mask, and when you rearrange the...
• Monday, May 4 May 4: Ops, reverse, LO jobs; CRM, audit, doc, subservicer products; tech survey; upcoming events & training

  May the 4th be with you as the use of the word “unprecedented” continues to be… unprecedented. While in captivity it is important to get out outside once in a...
• Saturday, May 2 May 2: What are warehouse banks seeing? A primer on servicing & MSRs (yes, they can wallop borrower’s pricing)

  Mark W. writes, “Patrick Henry exclaimed, ‘Give me liberty or give me death.’ Are you going to the beach this weekend?” American Airlines announced that face masks will be required...
• Friday, May 1 May 1: LO, Ops jobs; correspondent programs; large & small investors continue program shifts (with an “f”)

  May Day! A third of the way through with 2020 already? Seven weeks ago it was, “Use us! We have the best rates and products!” Now it’s, “During these challenging...
• Thursday, April 30 Apr. 30: LO, AE jobs, business opportunities; broker, digital products; G-Rate’s penalty; sweeping investor changes

  As analysts pour through Freddie Mac’s earnings announcement this morning, when in captivity it is important to settle in quickly and efficiently. It is also important not to fall for...
• Wednesday, April 29 Apr. 29: AE, Ops, LO jobs; digital, customer service products; FHA COVID news; 1st quarter GDP: ouch

  While in captivity it is important to observe the impact of your words during meal times. (Warning: Rated R for language.) Measuring the financial impact of the government-instituted changes is...
• Tuesday, April 28 Apr. 28: Sales jobs; underwriting, rural products; WFH, anti-fraud, digital webinars; guideline shifts continue

  Folks will sometimes ask me, “It’s a mystery: What kind of preparation do you do before writing your daily commentary?” Although no one has ever filmed me, this is a...
• Monday, April 27 Apr. 27: Servicing, Ops, LO jobs; CRM, broker products; training & webinars from your couch; top lender numbers

  My Saturday was going pretty well until I realized it was Sunday. Remember when Zillow was going to take over the mortgage business? Or Amazon was going to undercut everyone’s...
• Saturday, April 25 Apr. 25: LIBOR to SOFR transition update; Deep dive on U.S. debt; What do bored stunt performers do?

  Big day today! Laundry day! Growing up, especially in college, and being a guy, one learns that socks and underwear are washed after wearing once, maybe twice if you’re not...
• Friday, April 24 Apr. 24: Servicing, AE, Ops jobs; broker, construction, doc products; cash-out product hit; Federal Reserve deep dive

  While in captivity, it is important that your home have the right ambiance, and emanate a welcoming feeling. Real estate agents are good at helping sellers establish the right ambiance,...
• Thursday, April 23 Apr. 23: LO jobs; QC, sales, marketing, cap. mkts. products; Agencies & forbearance loan purchases

  While in captivity it is important to know economics, and the price of things like cigarettes in prison. (Warning: Rated a serious “R.” Perhaps “X.” Click at your own risk;...
• Wednesday, April 22 Apr. 22: Ops, LO jobs; digital products; GSE & large investor adjustments; bond market quiet: a good thing

  While in captivity it is important to amuse oneself. And here’s a tender song – the video is only 30 seconds. By the way, the residential industry is not the...
• Tuesday, April 21 Apr. 21: AE jobs; LOS, comp., correspondent products; approaching webinars; Federal Reserve’s recent actions

  Another stimulus package is in the headlines but no one is talking about inflation being a concern with near-term oil futures prices actually below zero. Oil producers are in a...
• Monday, April 20 4/20: LO, AE jobs; automation, non-QM products; forbearance primer: loans must be repaid

  As oil prices plummet this morning, while in captivity, uninterrupted sleep is a good thing. I know for a fact that the staff of the Mortgage Bankers Association, including President...
• Saturday, April 18 Apr. 18: Shifts in thinking & current trends: why pay rent? Advice for every LO; economic stimulus riddle

  Things are sure changing fast, and I am not talking about forbearance or underwriting guidelines. Financial service companies of all types are re-evaluating paying rent on large commercial spaces, and...
• Friday, April 17 Apr. 17: AE, LO jobs; efficiency product; webinars & events; CFPB HMDA news; Agency, investor, & vendor changes continue

  While in captivity, watching the time, and waiting for release, can seem like forever. We’re always waiting for something, whether it is the CFPB rolling out its proposal for new...
• Thursday, April 16 Apr. 16: AE jobs; appraisal, sales, processing products; training & webinars from home; vendor tidbits

  Unlike 2008, when, arguably, the lenders, banks, and investment banks, via lending & underwriting policies and lax securitization procedures, were the villains and scapegoats, this time around banks and lenders...
• Wednesday, April 15 Apr. 15: Appraisal jobs; construction, broker, appraisal products; partial & temporary appraisal delay for banks

  While in captivity sometimes it is difficult social distancing. Working from home, and having video meetings, takes some getting used to. I was telling my cat Myrtle about a service...
• Tuesday, April 14 Apr. 14: LO jobs; broker, benchmarking, doc products; jumbo & specialty products continue to crumble; 3.74% loans in forbearance

  Bill M. sent, “It’s not at all boring to stay in the house. But how come one bag of rice has 22,373 grains and the other bag 24,201?” Yes, things...
• Monday, April 13 Apr. 13: LO jobs; SBA PPP, processing products; Ginnie’s Issuer assistance; banks’ stress test changes; Agencies consider forbearance policies?

  It was a rough weekend. The still in our basement blew up, throwing potatoes everywhere and setting us back weeks. That happened just as I was sending someone an email...
• Saturday, April 11 Apr. 11: Refunds from auto insurance companies? Trends in eating & drinking & travel; One mortgage explanation

  The coronavirus has turned us all into dogs. We roam the house all day looking for food. We’re told “no” if we get too close to strangers. And we get...
• Friday, April 10 Apr. 10: U/W jobs; broker, eTitle, productivity, digital products; upcoming events from home (you’ve got the time, right?)

  While rumors swirl of the JPMorgan warehouse line requiring a minimum credit score of 700, and any loan on the line longer than 3 weeks being hit with a 15%...
• Thursday, April 9 Apr. 9: AE, Ops, LO jobs; servicing, appraisal, eClose products; Agency, USDA, investor, lender changes aren’t stopping

  As the market looks at this morning’s Federal Reserve huge aid package announcement, while in captivity/quarantivity, testing yourself is important. Someone told me this week, “Hey, we’re trying to stay...
• Wednesday, April 8 Apr. 8: Appraisal, broker, SBA PPP, correspondent products; lender eligibility for SBA PPP loans; Dir. Calabria said what?

  While in captivity it is important to keep calm. “Many parents are discovering that the teacher was not the problem.” One of the kids next door phoned in a bomb...
• Tuesday, April 7 Apr. 7: Training, warehouse, broker products; webinars everywhere on everything; Mr. Cooper’s early forbearance figures

  Is there good news out there? You bet! Ying Ying and Le Le mated. That aside, Day 98 of captivity. We’ve all found out that really hot water and sudsy...
• Monday, April 6 Apr. 6: Ops, broker jobs; originator, CRM, AI, recruiting products; product & processing changes continue

  Twas a rough night since today it’s garbage day. I was worrying all night, “What should I wear to take it out?” Jeannette M writes, “On January 1st I thought,...
• Saturday, April 4 Apr. 4: Letters & updates on working from home, our industry, the economy; alcohol & trucking skyrocketing; lock policy shifts

  Whoever said that one person can’t change the world never ate an undercooked bat. If you want to make the gods laugh, tell them your plans. What kind of plans...
• Friday, April 3 Apr. 3: LO jobs; appraisal, credit, doc, broker products; major jumbo changes; delay in servicer rescue?

  While in captivity it is important to focus on the friends you’ll see when you’re released. Your borrower doesn’t want the fuss and muss of typing up their own forbearance...
• Thursday, April 2 Apr. 2: LO, call center jobs; appraisal, broker, QC products; industry shifting programs, underwriting, pricing, & execution

  Yesterday I decided to put thoughts of SRP values plummeting, and EPO & EPD penalties being enforced, out of my mind and get some exercise. My cat Myrtle had a...
• Wednesday, April 1 Apr. 1: AE, LO, Ops, FHA jobs; cap. mkts., broker, marketing, training products; servicing trends; processing & u/w changes continue

  “I hadn’t planned on giving up quite this much for lent.” So true. It is a different world than only a month ago. Of course rates are going to stay...
• Tuesday, March 31 Mar. 31: Business opportunity; marketing, cybersecurity, eClosing products; shifts in LTVs, credit, pricing, appraisal policies rampant

  Remember when all we had to worry about was Amazon taking over mortgage banking? The sun hits different here in March – see joke at bottom. (Thirty days hath September,...
• Monday, March 30 Mar. 30: AE, reno, LO jobs; sales, broker products; California MBA weighs in; deep capital markets dive: Ginnie acts

  After a long time in captivity with the same people, one may become, uh, less than enamored with their pals. “12th day of self-isolation and it’s like Vegas in my...
• Saturday, March 28 Mar. 28: Letters on staying safe & sane while working from home, appraisals, and being bullish on IMBs

  What a long year this week has been from talk of Federal prisoners being released to home confinement to sports fans morning the loss of the Globetrotter’s Curly Neal at...
• Friday, March 27 Mar. 27: LO, Ops jobs; broker, credit products; IRS/tax transcript, jumbo, MISMO, RON changes across the biz

  While in captivity it is important to have good communication. (Early anecdotal chatter indicates that the remote workforce has signs of improved productivity!) In the Northwest, Banner Bank’s mortgage group...
• Thursday, March 26 Mar. 26: LO & Ops jobs; digital, compliance, servicing, cap. mkts. products; commercial & state bond products next to be impacted?

  While in captivity it is important to keep busy. Every day people ask me where I think rates will be next week. Here you go: my forecast! After you check...
• Wednesday, March 25 Mar. 25: LO, CFO jobs; doc, broker, eClosing products; locking, documentation, product changes roll on; PennyMac yanks bulk AOT

  While in captivity it is important to have a hobby. “Dad, why is my sister named Paris?” “Well, uh, that’s because we were in Paris when she was conceived.” “Okay,...
• Tuesday, March 24 Mar. 24: Sales job; sales, digital, processing products; FAM, QLMS, Mr. Cooper changes; appraisal & VVOE clarity; servicing smacked

  While in captivity it is important to have discipline. Independent mortgage banks exercised discipline and had a great 4th quarter, profit-wise, but that was so… “then.” (Costs were $7,500 per...
• Monday, March 23 Mar. 23: COO, AE jobs; anti-fraud, servicing products; borrower satisfaction survey; corona-driven product shifts

  While in captivity it is important to have a goal. And remember, “It’s only quarantine if it comes from the quarantine region of France; otherwise, it’s just sparkling isolation.” YouTube...
• Saturday, March 21 Mar. 21: Sample of vendor & tech updates; changes in home buying; Finastra & ransomware?

  I receive many thoughtful notes throughout the week. For example, “Rob, you mentioned Tom Hanks in your Friday commentary. He survived four years on an island alone as a castaway,...
• Friday, March 20 Mar. 20: LO, remote Ops, AE jobs; CRM, , bid tape, warehouse products; non-QM sector walloped – why?

  Today, with the official start of Spring, and while the industry waits for the FHFA to answer concerns about appraisals, VVOEs, and other issues, there are other pressing questions. “Rob,...
• Thursday, March 19 Mar. 19: LO jobs; digital, notary, QC, broker products; developments in warehouse, Agency, eClosing, & cap mkts

  “I’ve started investing in stocks: beef, chicken, and vegetable. One day I hope to be a bouillonaire.” There might be a few less “bouilonaires” owning PennyMac stock after yesterday. If...
• Wednesday, March 18 Mar. 18: AE jobs, exec searching; broker, appraisal, eClosing products; coronavirus-driven operations changes everywhere

  Thank you to Susan M. for, “Your Grandparents were called to war. You’re being called to sit on a couch. You can do this!” I was speaking with an acquaintance...
• Tuesday, March 17 Mar. 17: Sales job; Construction, non-QM products; sales webinars; Info on VVOEs, e-Notes, e-recordings

  “I’ve washed my hands so many times now I can see the answers to a math test I took in 1978!” We’re going through a test of the financial system....
• Monday, March 16 Mar. 16: Compliance, LO jobs; LOS, VA, non-Agency products; Early Payoff trends; deep dive on recent mortgage rate movement

  Gosh, what should we talk about today? If there’s a “winner” with the coronavirus, it is dogs. They are experiencing unprecedented levels of people being home with them! Temporary state...
• Saturday, March 14 Mar. 14: Notes on handling capacity, TRID violations, FHA & FHFA on coronavirus; state lending law changes coast to coast

  The production and operations staffs of every lender across the nation are “going bonkers.” Responsible senior managers and owners are doing things they never thought they’d have to do like...
• Friday, March 13 Mar. 13: Ops, management jobs; broker, DPA, tech products; coronavirus tips: NAR’s report & employer webinar

  Here’s an economic tidbit for you. The Port of Los Angeles is reporting a 22.9% decrease in cargo volumes for February compared to 2019, with expectations for continued softness in...
• Thursday, March 12 Mar. 12: Ops, sales management, production jobs; broker, cap. mkts. products; corresp. & wholesale news

  Here’s a sign of the times. “Rob, I would think many lenders are for sale; they just don’t know it yet. EPOs, servicing write-downs, renegotiations, margin calls… If early pay...
• Wednesday, March 11 Mar. 11: Ops, LO (incl. SBA) jobs; marketing, broker, non-QM products; training & events, many over the phone

  First, a note of clarification. Yesterday’s commentary mentioned that there was talk of “warehouse banks temporarily suspending funding refi biz.” I received several notes stating that while one warehouse bank...
• Tuesday, March 10 Mar. 10: Sr. sales job; processing, marketing, tech products; disaster updates; rate volatility continues

  There sure is a lot going on out there! There is talk of warehouse banks temporarily suspending funding refi biz, lenders charging lock fees, lenders & vendors restricting visits from...
• Monday, March 9 Mar. 9: Tech, appraisal, cap. mkts jobs; broker, title, recruiting products; EPOs, margin calls, appraisal delays, sticky mortgage rates…

  As everyone grapples with changing the clock in their car… The world’s shortest horror movie? At 14 seconds, here you go. (Thanks to Kevin K. for that one.) I was...
• Saturday, March 7 Mar. 7: February lock data; LIBOR transition update, and primer on SOFR & LIBOR differences

  The Federal Financial Institutions Examination Council (FFIEC) updated guidance identifying actions that financial institutions should take to minimize the potential adverse effects of a pandemic. Pandemic? That is normally associated...
• Friday, March 6 Mar. 6: Sales, AE, LO jobs; marketing, doc products; lender & real estate vendor tidbits

  Yesterday, as I was working on my commentary, I looked down. There I was, wearing my WAMU sweatshirt over my Lehman Brother t-shirt, sipping cocoa out of my Countrywide mug,...
• Thursday, March 5 Mar. 5: U/W, LO, accounting jobs; tax transcript product; remote staff study; primer on coronavirus & Fed cuts

  “Spring Forward” really needs to be a Friday at 4PM thing. At this point most lenders would like another hour instead since most have their hands full with servicing write-downs,...
• Wednesday, March 4 Mar. 4: Corresp., LO, new wholesaler AE jobs; warehouse, research products; primer on rate movements

  March 4th: the only day that’s also a command. Lenders across the nation will be seeing plenty of “commands” in their in-boxes asking them for money in the form of...
• Tuesday, March 3 Mar. 3: LO jobs; processing, broker, correspondent products; lenders springing up; world central banks “ready to act”

  Overhead on the phone line. “Uh, hello Morgan Stanley? Remember that $20 million MBS we sold you last month? Can we just forget that ever happened? Or renegotiate it?” Some...
• Monday, March 2 March 2: Credit, controller, LO jobs; broker, HELOC products; coast to coast events & training; 1.07% 10-year!

  Huh? You don’t know what a “Gig Line” is? Someone’s buttons, belt buckle and zipper should all line up in the Gig Line. (See? And you say you never learn...
• Saturday, February 29 Feb. 29: Notes on debt/savings, FHLB membership, and U.S. demographics: who has the highest property tax?

  For me the last few weeks have included travel in Louisiana, California, Arizona, North Carolina, Florida, and Nevada. (With all that time in a flying metal tube, I’ve finally advanced...
• Friday, February 28 Feb. 28: Encompass, Ops, LO jobs; broker, credit, compliance products; M&A; coronavirus continues to drive markets

  We’re almost at the end of February already. Mortgage bankers are funding loans, throwing axes, working overtime, learning about skydiving, all kinds of things! In a little over a week...
• Thursday, February 27 Feb. 27: Comptroller, Ops, LO jobs; pooling, non-QM, appraisal products; CFPB, audit, exams, & compliance news

  I was telling my cat Myrtle that U.S. lenders are continuing to bask in the glow of a great 2019 and a start to 2020 (with March and April now...
• Wednesday, February 26 Feb. 26: LO, AE jobs; ops, sales, language, broker tools; the GSE reform march continues; two 2020 Fed cuts?

  Remember the concerns of chaos prior to the UK leaving the European Union? Despite Brexit, the average London house prices increased 2.3% in 2019, the highest since 2017. In the...
• Tuesday, February 25 Feb. 25: CFO, AE jobs; relationship, broker, correspondent products; credit shifts; Moody’s weighs in on non-QM

  People have a choice in financing their home: debt or equity. (Debt, of course, is what supports our industry. Equity, however, has been experimented with for many years, with varying...
• Monday, February 24 Feb. 24: Attorney, controller, LO jobs; TPO team available; compliance & servicing events; coronavirus dominating markets

  With the coronavirus driving worldwide markets and politics dominating the headlines, who doesn’t like “easy?” Easy: Krispy Kreme is launching donut delivery. Thank you to Ken S. who passed along...
• Saturday, February 22 Feb. 22: Letters on pair offs, automatic valuation; LIBOR/SOFR and Freddie news; something for animal lovers

  Although Congress never actually voted on it, today is viewed as National Margarita Day. Because one fellow promoted it. It would be nice to have someone out there promote a...
• Friday, February 21 Feb. 21: LO, servicing jobs; underwriting, appraisal products; lenders & vendors’ focus on borrowers

  Yesterday’s commentary mentioned that there were “rumors” of Citi re-entering the correspondent channel. I apologize for any confusion. Readers should understand that Citi has never exited the correspondent channel, and...
• Thursday, February 20 Feb. 20: HELOC, construction, compensation, & title products; lender’s digital borrower products

  Morgan Stanley buying E-Trade is causing some chatter this morning, and last night’s Democratic debate had plenty of chatter. (Some would use a stronger term than “chatter.” By the way,...
• Wednesday, February 19 Feb. 19: Compliance, servicing, renovation, broker products; shifts in Freddie & Fannie; coronavirus/economy

  Everyone is looking to increase production and cut expenses. MI companies, for example, are re-focusing on their highlighting their value proposition while evaluating their cost structure: what good does it...
• Tuesday, February 18 Feb. 18: LO jobs; broker, sales, processing products; coast-to-coast training & events for Feb. & March

  Odd times that we’re living in. Here in New Orleans (“Anything worth doing is worth overdoing!”) some of the talk is about the Boy Scouts of America declaring bankruptcy due...
• Monday, February 17 President’s Day: Vendor mania

  Did you hear about the population in Ireland? It’s Dublin! In the United States over a quarter of the nation’s population lived in just three states in 2019: California, Texas...
• Saturday, February 15 Feb. 15: Letters on warehouse lending, non-bank lenders; Fannie’s results & capital markets activities

  It is important to keep things in perspective. A loan officer will grouse about a price of a non-QM loan being .250 worse than a competitor’s. But Australia’s bush fires...
• Friday, February 14 Feb. 14: AE & LO jobs; servicing, 203(k) products; conventional conforming underwriting shifts

  Does anyone out there care that credit-card debt rose to a record $930 billion in Q4 2019? (Total mortgage debt hit $9.56 trillion.) How about that the origination cost of...
• Thursday, February 13 Feb. 13: Sales, LO jobs; subservicing, broker, originator products; vendor alliances increasing

  Do we really have nine more months until the actual election? While you’re answering questions, does someone in your office speak Spanish? Tagalog? Mandarin? Canine? The minority homeownership rate rose...
• Wednesday, February 12 Feb. 12: AE, vendor mgt., LO jobs; sales, marketing, broker products; team sponsor wanted; American borrowing stat

  Clients want LOs to be subject matter experts on products and current events. But what do lenders know about their LOs, their originator turnover rate, or what the age bracket...
• Tuesday, February 11 Feb. 11: MLO jobs; non-QM, marketing, digital products; shifts in non-conforming and ATR, QM Patch thinking

  In 1988, there was only one city in America where the average home price was over six times the annual median income. Today there are more than twenty. Experts think...
• Monday, February 10 Feb. 10: Marketing, LO jobs; recruiting, VA, compliance products; credit study & underwriting shifts

  The U.S. is divided up into regions. Have you ever noticed that we say, “Out West” or “Back East” – a holdover from centuries ago. It’s never, “Back West” or...
• Saturday, February 8 Feb. 8: Letters on cybersecurity, increasing LO productivity; Fannie & Freddie weigh in on LIBOR move

  The rumor that tomorrow is National Pizza Day is true. In our business there are always plenty of rumors to go around. The latest involves, giving rate engines and automation,...
• Friday, February 7 Feb. 7: AMC, underwriting, attorney jobs; marketing, VA products; FHA, VA, USDA lending changes

  I can’t predict the future, don’t even know what I’m doing for lunch today, but in October this commentary suggested that with the MOU inked in October between HUD and...
• Thursday, February 6 Feb. 6: Ops, LO jobs; non-QM, CRM products; from processing to MI shopping: vendor news

  For years there has been name confusion between Fannie Mae and Fannie May. Name overlap isn’t limited to those two; MERS, familiar to mortgage bankers everywhere, is not the same...
• Wednesday, February 5 Feb. 5: MLO jobs; training, digital, subservicing products; events & training coast to coast

  Let’s take any brokerage or small mortgage banker, 10 loan officers doing an average of 3 loans per month for 30 loans/month. The company has the operations staff to handle...
• Tuesday, February 4 Feb. 4: MLO jobs; real estate, non-QM, vendor products; conventional conforming product shifts

  Fitness instructor: “Have you ever done a marathon?” Me: “You mean like on Netflix?” Both take stamina (of some sort), as does merely looking at the U.S. Debt Clock website...
• Monday, February 3 Feb. 3: SVP, AE, LO jobs; subservicer white paper; originator census; FHFA, Freddie, Fannie on the move

  “I boarded a Southwest flight over the weekend, sat down, sneezed, and muttered something in Mandarin. I had the whole row to myself for entire flight. It was great!” Sometimes...
• Saturday, February 1 Feb. 1: From lender behavior to underwriting to processing to securities to weed, regulators touch it

  “I don’t know if the news made it to you today, but they found another disease piggybacking on the reported disease. It seems that Corona-virus goes better with Lyme disease.”...
• Friday, January 31 Jan. 31: MLO jobs; marketing, broker, pricing products; rates, the Fed & the coronavirus

  Interesting times. Our CFPB has a new Chief Experience Officer. United Wholesale has an ad in the Super Bowl, recommending brokers to consumers. Experian also has an ad, and Quicken...
• Thursday, January 30 Jan. 30: MLO, management jobs; audit, AMC, underwriting, DPA tools; primer on prepayments and EPOs

  What if you bought into an investment thinking you were going to earn a decent return for 30 years and instead it paid off in four months? Not only that,...
• Wednesday, January 29 Jan. 29: LO jobs, business opportunity; LOS, broker products; capital mkts.: the Fed, coronavirus, and trade

  My cat Myrtle never paid much attention to Brexit, up until recently a hopeless parliamentary quagmire. (“Brexistential fear”: An irrational fear that Brexit will lead to the end of the...
• Tuesday, January 28 Jan. 28: LO jobs; CRM, subservicer, cost-cutting products; customer satisfaction awards

  Loan officers and lenders know that the population in the United States continues to shift, and this creates some continued great opportunities to increase business. Put another way, it doesn’t...
• Monday, January 27 Jan. 27: AE, LO jobs; DPA, underwriting products; credit trends; coronavirus & world events moving rates

  Remember when there actually was an “average,” and you weren’t afraid to say that someone was average? Now everyone is “above average.” (Did my sarcasm font come across?) I remember...
• Saturday, January 25 Jan. 25: Snapshot of state lending laws changing & evolving; Cordray & California: 50 mini CFPBs?

  It is important for people in our biz to remember the ultimate goal: to help finance home ownership by guiding the client through the process. Many lenders have slogans to...
• Friday, January 24 Jan. 24: Ops, client engagement, sales, LO, AE jobs; sales, API products; LO resignation letter

  Yes, the change in FICO scores garnered some attention, but much of the focus is on Wells Fargo which just can’t stay out of the spotlight… for all the wrong...
• Thursday, January 23 Jan. 23: MLO jobs; call mgt., non-QM, trading products; comp survey; moderate U.S. economic expansion continues

  Did you know that you can vote by smart phone (smartphone? Smartphone?) in Seattle? Did you know that less than 20 percent of the world’s population has ever taken a...
• Wednesday, January 22 Jan. 22: MLO jobs; sales, warehouse, broker products; M&A with lenders & vendors; coronavirus & bonds

  What does $4.6 billion dollars buy you these days? A couple casinos: a Blackstone-sponsored JV is paying that for MGM Grand and Mandalay Bay in Las Vegas. For that you’ll...
• Tuesday, January 21 Jan. 21: Sales jobs; 2nd mortgage, non-QM, comp, digital tools; population shifts worth LOs noting

  Everyone is aging, right? “I finally did it! I bought a new pair of shoes with memory foam insoles. No more forgetting why I walked into the kitchen!” People change,...
• Monday, January 20 Jan. 20: What MLOs made in 2019; primer on mortgage rates & pricing: why is my rate sheet pricing different?

  The job interview. Job Interviewer: “Where do you see yourself in 5 years?” Me: “I would say my biggest weakness is listening.” People in our biz continue to interview, and...
• Saturday, January 18 Jan. 18: Letters on W-2 and the S.A.F.E. Act; current cybersecurity tips – my car’s collecting what data on me?

  This week the commentary discussed the compensation of mortgage loan originators via W-2 due (versus 1099) to various rules and regulations. The piece prompted Brad Hargrave with Hargrave Rosenthal to...
• Friday, January 17 Jan. 17: AE, DTC jobs; 2nd, renovation products; after DFSNY letter, CEOs can’t ignore LIBOR transition

  I’ve gotta hand it to those writers who put out listings for real estate agents. Maybe if I had a bunch of money I could live in a “secluded retreat”...
• Thursday, January 16 Jan. 16: MLO, AE, HUD jobs; borrower satisfaction report; misc. vendor updates

  For folks who like numbers and trends, according to the U.S. Census Bureau’s national and state population estimates released in December, 42 states and the District of Columbia had fewer...
• Wednesday, January 15 Jan. 15: AE, LO, sales jobs; retention, fraud prevention tools; events coast to coast and on your phone

  We find ourselves at Wednesday already. How about some numbers for Hump Day? Years ago Arnold Schwarzenegger famously said, “Having more money doesn’t make you happier. I have $50 million...
• Tuesday, January 14 Jan. 14: Marketing, referral, pricing, sales tools; FHA, VA, Ginnie changes around the biz

  There are some clever people out there creating abbreviations and acronyms. Megxit? Yes: Prince Harry and Meghan Markle exiting from certain royal duties. Remember when talking about the economic woes...
• Monday, January 13 Jan. 13: AE jobs; compliance, LO, BI tools; deep dive into W-2 vs. 1099 and the SAFE Act

  Lenders, and all financial sector firms, continue to ruminate on the privacy law in California that now gives people the right to access and delete personal data companies have collected....
• Saturday, January 11 Jan. 11: The importance of training in culture & retention; how a merger or acquisition works

  What seems to be on the minds of readers around the nation? M&A and retaining/training personnel are among the topics. Who’s saying what? In a previous commentary, STRATMOR’s Jeff Babcock...
• Friday, January 10 Jan. 10: MLO jobs; LOS, pricing, VA products; Agency direction & future back in the news

  Markets have taken the view that brief military conflicts have little long-term impact on economic trends. Gold, oil and the Japanese yen jumped after Iranian missiles hit US bases in...
• Thursday, January 9 Jan. 9: Marketing, Ops, sales jobs; broker, marketing, secondary mkt. products; misc. vendor news

  Nobody, that I recall, predicted that 2019 would be a banner year for mortgage originators. And how about that stock market! My 401k’s balance certainly improved in 2019, yet a...
• Wednesday, January 8 Jan. 8: Call center jobs; people moving; pricing, broker, sales products; missiles/oil/tariffs/Brexit and mortgage rates

  Hey, I want to buy my own house without the “nuisances” of a large down payment, difficult credit standards, massive debt, or long-term commitments. Out of California comes Fleq, which...
• Tuesday, January 7 Jan. 7: MLO jobs; marketing, pricing, strategy tools; upcoming events & training run the gamut

  Money attracts criminal activity. I know that isn’t late-breaking news, but here’s a scam I hadn’t heard of involving, once again, real estate and appraisers. The good news is that...
• Monday, January 6 Jan. 6: AE, LO jobs; profitability, non-QM, subservicer review products; wholesale & correspondent changes

  “Rob, I know that it costs less to retain an existing employee than to train a new one. Last year companies were reportedly paying big signing bonuses, but are you...
• Saturday, January 4 Jan. 4: Changes in capital markets, Agency risk transfer helping borrowers, Credit Linked Note primer

  The general environment? I received this tough note from a capital markets veteran. “Mortgages have been moving toward becoming a commodity business for years. Look at TBA securities and TradeWeb....
• Friday, January 3 Jan. 3: MLO jobs; pricing, broker products; M&A across the biz; credit & underwriting changes; Middle East driving rates

  In state news, happy belated CCPA Day! The California Consumer Privacy Act officially went into effect 1/1, and it’s a big deal. Full compliance expected by July 1. Here’s what...
• Thursday, January 2 Jan. 2: Marketing, LO jobs; upcoming coast-to-coast training & events; who is buying MBS?

  Florida, also known as “God’s waiting room,” is the nation’s third most populous state, behind California and Texas, with a population of 21.3 million. (California has about 40 million, New...

• Tuesday, December 31 Dec. 31: Sales jobs; SAFE Act policies not uniform around the biz; impeachment process is not driving rates

  “I can’t remember how to write 1, 1000, 51, and 500 in Roman Numerals! IM LIVID.” Some in the industry may be livid over Associated Bank’s announcement yesterday to not...
• Monday, December 30 Dec. 30: Vendor/lender survey; Taxpayer First Act updates; program & processing notes; China & our interest rates

  I was telling my cat Myrtle that I have a problem when people ask me what I’ll be doing tomorrow after midnight. I don’t have 2020 vision! Barring any surprises...
• Saturday, December 28 Dec. 28: Reader’s letters on the current M&A activity, the IRS fee increase, and the outlook for 2020

  I received this note from “TeeGee.” As you think about New Year’s resolutions, here’s one we should all make together: resolve to insist that decades begin with the year ending in...
• Friday, December 27 Dec. 27: AE jobs; affordable lending, first-time buyer products; updates on the new URLA and conv. loan amounts

  If Freddie Mac and Fannie Mae didn’t exist, would we create them now? Turkey will establish a new mortgage financing firm, Birlesik Ipotek Finansmani AS, similar to U.S.’s Fannie Mae,...
• Thursday, December 26 Dec. 26, Boxing Day: Compliance job, 2020 forecasts; news from Ginnie, USDA, investors following FHA & VA changes

  “I hate it when people ask me what I’ll be doing in six days. Come on folks. I don’t have 2020 vision.” You can be guaranteed that the Republicans will...
• Tuesday, December 24 Dec. 24: Vendor partnership; repo activity, household debt, tariffs, and shelter costs in the capital markets

  Where are the well-known Democratic presidential hopefuls on housing issues? As with most politicians, it’s a little vague. While we’re on politics, regardless of gender, Senators make $174,000 per year,...
• Monday, December 23 Dec. 23: JV, compliance, digital products; customer service trends & news; capital markets steady

  There sure are lots of people, borrowing lots of money, for lots of houses out there! And the bump in activity is coming from non-bank lenders and is not coming...
• Saturday, December 21 Dec. 21: IRS clarifies Taxpayer First guidelines; letters on politics & the election, sales management

  Happy Winter Solstice! Culture and training Last week my commentary had some information about training, and Bob Masur wrote, “Why do so many people seem to think training is the...
• Friday, December 20 Dec. 20: U/W, sales jobs; LOS, training, digital products; what is, or isn’t, moving mortgage rates

  As we zip toward the end of the decade, do you want the U.S. economy to be “Hotter than the hinges of hell?” Probably not, as rates would shoot higher....
• Friday, December 20 Dec. 20: U/W, sales jobs; LOS, training, digital products; what is, or isn’t, moving mortgage rates

  As we zip toward the end of the decade, do you want the U.S. economy to be “Hotter than the hinges of hell?” Probably not, as rates would shoot higher....
• Thursday, December 19 Dec. 19: MLO jobs; digital, broker, correspondent products; vendor updates & products; holiday trading in bond market

  Sure the world noted that Sweden’s central bank hiked its rate to 0%. But in this country, Michigan is making mortgage news. First, United Shore/UWM had a record year and...
• Wednesday, December 18 Dec. 18: LO, AE jobs; sales, broker, regulatory tools; lenders react to Taxpayers First Act paperwork; rates quiet

  My background is in capital markets, with a razor-sharp mind for figures. Not anymore. Remember when you’d have dozens of phone numbers memorized? Now the only phone number I remember...
• Tuesday, December 17 Dec. 17: Ops, LO jobs; profitability, organizational, non-QM tools; comp survey; events; co-branding & JVs rampant

  Mark Twain famously said, “When I was a boy of 14, my father was so ignorant I could hardly stand to have the old man around. But when I got...
• Monday, December 16 Dec. 16: AE, LO jobs; non-del, u/w, , analytics, CRM tools; jumbo & non-QM trends: who’s doing what

  No one wants their labors to go to waste, whether you’re an underwriter who is over-ruled by the head of credit, or an MLO who finds out your approved borrower...
• Saturday, December 14 Dec. 14: Letters on employee performance, HFAs, disposable income, LIBOR; HR Christmas party humor

  We have one week until the Winter Solstice, after which we’ll begin seeing more sunlight every day in the Northern Hemisphere. That’s good news! But with the holidays, things are...
• Friday, December 13 Dec. 13: Marketing, consumer direct jobs; correspondent, processing, broker products; deep capital markets dive

  While the markets are talking about Boris Johnson’s victory in the U.K. (“get Brexit done”), here’s your trivia of the day: Every month that starts on a Sunday has a...
• Thursday, December 12 Dec. 12: LO, Ops jobs; broker, back-office, non-QM, AOT products; upcoming events; rates: yawn…

  We never see the headline, “Psychic Wins Lottery!” No one has a crystal ball, but originators often ask their capital markets staff about the direction of rates, whether it is,...
• Wednesday, December 11 Dec. 11: Sales job; retention, reno, non-QM products; servicing biz primer & prepayment speeds

  Aloha! As any servicer with borrowers in Hawai’i knows, if you’re going to ask, “Is Ms. Keihanaikukauakahihuliheekahaunaele* home?” or “Do you live on Kaalualu Waiohinu Rd.?”, you’d better be able...
• Tuesday, December 10 Dec. 10: Secondary, LO jobs; leads, automation, marketing tools; shift in evaluating credit

  If you knew the value of the house was going to decline, or that the borrower has bad credit and would default, would you make the loan? There’s always a...
• Monday, December 9 Dec. 9: Sr. mgt., LO, Ops jobs; marketing, cloud products; investor & lender FHA & VA changes

  With the Fed content with rates hovering here for the foreseeable future, lenders can focus on other things. “Rob, are you hearing that real estate agents are nervous about Zillow’s...
• Saturday, December 7 Dec. 7: Compliance primer: RESPA, UDAAP, change in circumstance, state lending law changes

  The year continues to fly by, and here we are at “Pearl Harbor Day” already. Residential lending touches many lives as millions of families around the United States have either...
• Friday, December 6 Dec. 6: U/W, LO jobs; CRM, U/W, budgeting tools; why LOs should care about trade & tariffs

  I hope that you didn’t lay off your compliance department earlier this year, because there’s a lot going on. For example, from out of California comes the CCPA, effective in...
• Wednesday, December 4 Dec. 4: Secondary, LO, AE jobs; broker, anti-fraud, marketing tools; compliance news: what is EGRRCPA?

  Politics seems to be in the news as never before. And we still have eleven months until the presidential election! I already have LOs writing to ask about how different...
• Tuesday, December 3 Dec. 3: LO jobs; reno, construction, rental products; M&A update; training & events for Dec.

  There’s an old saying among economists regarding predicting the future. “You can put a date on it, and you can put a number on it, but you can’t do both.”...
• Monday, December 2 Dec. 2: AE, LO jobs; HELOC, marketing, training products; FHA, VA, Ginnie… robots at HUD!

  Did your company make any money in the 3rd quarter? I hope so, and I hope the 4th quarter is looking bright as well. (Just like I hope that MLOs...
• Saturday, November 30 Nov. 30: Agencies shifting risk, reducing taxpayer exposure, increasing capital, indirectly helping borrowers

  Most lenders will tell you that they’re trying to provide stellar customer service at the best possible price for their clients in the most efficient, cost-effective way. Aggregators, like Wells...
• Friday, November 29 Nov. 29: Specified (“Spec”) pools & REIT primer; vendor mania; lender/vendor disaster news

  There are seven members of the Board of Governors of the Federal Reserve System, and each region has a President. For 2019, the annual salary for the Fed Chairman is...
• Wednesday, November 27 Nov. 27: LO jobs; borrower retention tool; 2020 loan limits spelled out; Fed addressing haves & have nots disparity

  Loan officers know that rent is a “piece of the puzzle,” “a part of the equation” in the homebuying decision. They should be glad to know that the typical rent...
• Tuesday, November 26 Nov. 26: Bus. Dev., LO, Ops, compliance jobs; broker, portfolio marketing products; CFPB is taking on LO comp

  “Rob, with the announcement a while back that Quicken Loans inked a mortgage deal with Charles Schwab, and now with Schwab buying TD Ameritrade, do you think Quicken will go...
• Monday, November 25 Nov. 25: Legal, Sales & Ops mgt., LO, AE jobs; non-QM products; customer experience trends

  An LO from Wyoming recently reminded me that, “At the end of the day we sell a product driven by rates.” And we may be at, or near, these rates...
• Saturday, November 23 Nov. 23: Letters on mobile app, information, and cyber security; risk transfer; a transitional licensing update

  Yes, it has become quiet out there, with lots of “out of office” replies and empty cubicles. There’s a lot for our industry, and clients, to be thankful for in...
• Friday, November 22 Nov. 22: CFO, recruiting, LO jobs; processing, forecasting, application tools; deep dive into HECMs

  Many believe that 3-D printed houses will be the wave of the future in construction, and there’s someone in this article talking about printing 1,000 a day. I’m sounding like...
• Thursday, November 21 Nov. 21: Controller, MLO jobs; broker, U/W, sales, leads, workflow tools; upcoming events & training

  Government shutdown worries, the impeachment hearings, the trade war, video of a bear stuck in a car near Lake Tahoe… Is there anything good happening out there? For one, my...
• Wednesday, November 20 Nov. 20: MLO jobs; IO, construction, non-QM products; lots going on at F&F like adopting SOFR for ARM loans

  A new analysis from the real estate brokerage firm Redfin shows the typical homeowner in the United States now stays in their house for 13 years, five years more than...
• Tuesday, November 19 Nov. 19: LO, valuation jobs; training, marketing, broker products; M&A and JVs continue; stocks, bonds, & rates

  A pass rate of 51% on July’s California bar exam may not seem like cause for celebration, but it’s the first time in six years that a majority of people...
• Monday, November 18 Nov. 18: Lenders wanted; licensing, loan data, non-QM products; customer service survey; no Fed move ’til April?

  Do you dread “Smonday?” (That’s when Sunday stops feeling like a Sunday, and the anxiety of Monday kicks in.) Here is something to dread. All this talk about MLOs losing...
• Saturday, November 16 Nov. 16: State-level lending changes & trivia; primer on the term “repo” & why it’s good to know the basics

  How ‘bout this letter this week from an MLO. “I have been in the industry for 35 years and received a question from a past customer below. I have never...
• Friday, November 15 Nov. 15: LO jobs; POS, home equity, budgeting tools; extensive reports on rise of non-bank lending

  This week I’ve been running football quotes in the joke section at the bottom. Thanks to Gary B. who sent Chuck Noll’s, “Pressure is something you feel when you don’t...
• Thursday, November 14 Nov. 14: LO jobs; broker, marketing, DPA tools; GSE changes; yield curve, employment, & mortgage rates

  Some people save $2.95 a day by making coffee at home rather than stopping at Dunkin’ or Starbucks. It adds up! Something didn’t add up for WeWork which reported this...
• Wednesday, November 13 Nov. 13: VP job; underwriting, broker, ECOA, free LPMI products; fire & flood updates

  I continue to see headlines as I head to balmy Kansas today. There was, “A Court Ruling Makes Mortgages Vanish Into Thin Air.” This is a headline no lender wants...
• Tuesday, November 12 Nov. 12: Marketing, LO jobs; compensation, sales, underwriting tools; tariffs, trade, & rate primer

  I was fooling around with my wife on the couch. She said, “You want to take this upstairs”? I replied, “Sure, I’ll grab this end, you grab the other”. While...
• Monday, November 11 11/11: LO, C-Level jobs; lender for sale; DPA, fullfillment products; primer on Treasury vs. mortgage rate moves

  Veterans Day originated as “Armistice Day” on Nov. 11, 1919, the first anniversary marking the end of World War I. In this country it is a way to honor those...
• Saturday, November 9 Nov. 9: LIBOR/SOFR transition in the primary & secondary markets ; state lending law changes

  “I’m gonna save a ton of money at Christmas by discussing politics at Thanksgiving dinner!” As we sail toward Veteran’s Day, and then Thanksgiving, let’s jump in to the always-exciting...
• Friday, November 8 Nov. 8: LO, sales mgt. jobs; sales, audit tools; vendors raising $; 10-year yield’s 3 month, 50 bp move

  As rumors swirl about Michael Bloomberg entering the race for president, MLOs are winding down for the year (a few have written to me saying that, after a solid November...
• Thursday, November 7 Nov. 7: LO jobs; appraisal, DPA, broker, condo products; legal, settlement news; lender M&A

  Thanksgiving will be here before you know it, and with it, pumpkin pie. (Yes, I know that this is a mortgage commentary, but even pumpkins have their share of regulation...
• Wednesday, November 6 Nov. 6: LO jobs; warehouse, tech integration tools; wholesale & corresp. changes; Ginnie booming, trade status primer

  Besides sudden news, like PennyMac filing an antitrust lawsuit against Black Knight for anticompetitive behavior (“…market-dominating LoanSphere® MSP mortgage loan servicing system to engage in unfair business tactics that both...
• Tuesday, November 5 Nov. 5: Recruiting, training, marketing products; primer on employment & labor participation

  On a personal note, my grandfather was the first mayor of Cupertino, in the Santa Clara Valley. In the 1950s my grandparents’ home (and their many acres of orchard) was...
• Monday, November 4 Nov. 4: Servicing, LO jobs; broker, pricing, workflow products; bank and vendor M&A rolls on

  Who says there’s nothing new under the sun? Here’s a 14-year old’s clever cure for the blind spot in cars. Uber launched a new division known as Uber Money offering...
• Saturday, November 2 Nov. 2: 2020 industry forecast; Freddie & Fannie in transition; risk transfers continue; sales video

  Residential lenders are having a good year. (If you’re not, your New Year’s resolution should be finding something else to do in 2020.) The MBA expects total mortgage origination volume...
• Friday, November 1 Nov. 1: LO jobs; compliance, construction, QC, Pen Booty(!) products; 86% of Ginnie biz from nonbanks

  Welcome to “Bring Your Kid’s Candy to Work” Day, when candy bowls at receptionist’s desks and lunchrooms are brimming with treats worth a gander. What is also worth a gander,...
• Thursday, October 31 Halloween ’19: Sr. Ops, LO, cap. mkts jobs; pricing products; loan processing survey results

  Halloween already! Who wouldn’t want to live in the scary Tombstone, AZ, Sleepy Hollow, NY, Kill Devil Hills, NC, Yellville, AR, Transylvania County, NC, Slaughter Beach, DE, Casper, WY, or...
• Wednesday, October 30 Oct. 30: IT, Bus. dev., JV jobs; non-QM, broker products; lots of approaching training & events coast to coast

  Partnerships and acquisitions are flying around like monkeys in the Wizard of Oz. (Okay, that was a reach, but I saw it in the bookstore yesterday so was “top of...
• Tuesday, October 29 Oct. 29: LO jobs; U/W, broker, compliance products; Ellie/Capsilon deal; big banks back into FHA lending?

  As noted in the commentary very early yesterday, a shade ahead of the actual details, the big news was the HUD/DOJ/False Claims Act announcement. Cutting “to the chase,” it prompted...
• Monday, October 28 Oct. 28: IT job, title insurance opportunity; TPO products; FEMA news; brexit extension impacts rates

  The Bank of Russia has reduced its benchmark interest rate to 6.5% from 7%, the sharpest cut in two years, and the EU has granted a Brexit extension to the...
• Saturday, October 26 Oct. 26: Notes on the mortgage “experience,” market share shifts, appraisal waivers; state laws in flux

  As usual there are a lot of crosscurrents of thought in residential lending, touching on psychology, behavioral economics, mathematics, fortune telling… Let’s see who’s saying what out there. (First, a...
• Friday, October 25 Oct. 25: CFO job; Non-QM, QC, DPA, broker products; corresp. & wholesale soundbites

  There are plenty of well-paid people in the mortgage biz. It is good to keep things in perspective: The U.S. median household income was $63,179 in 2018 according to U.S....
• Thursday, October 24 Oct. 24: LO jobs; broker, BI, credit, POS, cap. mkts. tools; vendors partnering & raising money

  With only one week until Halloween we are reminded that time flies. Dating back 2,000 years to the Celtic festival of Samhain, Halloween is an ancient tradition associated with images...
• Wednesday, October 23 Oct. 23: Sales, MLO, marketing jobs; anti-fraud, title, broker products; conv. conforming news

  Last week the Mortgage Bankers Association’s survey showed that retail applications dropped almost 12% last week from the week before. Refis were down 17 percent – in one week! Lots...
• Tuesday, October 22 Oct. 22: Controller job; appraisal, broker, construction products; vendor news

  I am often asked about a primer for capital markets. Much of the training is “on the job,” but for anyone serious about learning the topic, here’s a good place...
• Monday, October 21 Oct. 21: AE jobs; non-QM, affordable housing, income products; vendor news; what is driving rates

  Great MLOs keep up on events not only impacting their loans but on events impacting the everyone else’s loans as well. For example, the Supreme Court has agreed to rule...
• Saturday, October 19 Oct. 19: Letters on electronic signatures, cyber threats, LOS, staying abreast on compliance; SOFR transition updates

  Greetings from London. Parliament will be “sitting” on a Saturday for the first time in 37 years, and I decided to come here to watch the Brexit vote. Okay, I...
• Friday, October 18 Oct. 18: Sales, MLO, AE jobs; broker, fraud, credit, hedging products; lenders adjust to FHA changes

  Here’s a little trivia for you. What does San Francisco have six of that Manhattan has none of? Dirt roads! I don’t know if the cost of maintaining a dirt...
• Thursday, October 17 Oct. 17: Fraud, correspondent, home equity products; warehouse facility for sale; HUD & flood

  52% of Agency biz (e.g., Freddie and Fannie) is first-time home buyers. Over at HUD, according to the Mortgage Bankers Association (MBA), first-time home buyers account for more than 75...
• Wednesday, October 16 Oct. 16: Sales jobs; broker, LOS, warehouse products; coast to coast events and free training

  Sen. Patrick Moynihan once said, “Everyone is entitled to their own opinions, but not their own facts.” In a question guaranteed to generate opinions, there is, “Rob, do you ever...
• Tuesday, October 15 Oct. 15: Ops, LO jobs; recruiting, marketing, POS, appraisal products; Non-QM company & product news

  Scholars disagree on how much sleep we need, what time is the best time to wake up, and what time to go to work. But then again, scholars disagree on...
• Monday, October 14 Oct. 14: LO jobs; analysis, broker, underwriting tools; disaster news: FEMA buys properties?

  Mortgage loan officers often point out that borrowers will complain about every fee or price adjustment, yet think nothing of paying $6 every day for a Starbucks latte, $4 for...
• Saturday, October 12 Oct. 12: The impact of rates on lenders & servicing; Agency risk transfers continue; our changing language

  Six days a week, this commentary is filled with words and phrases. New York banned the term “illegal alien”, punishable by fines. Words and phrases come and go, changing over...
• Friday, October 11 Oct. 11: AE, MLO, corresp. jobs; marketing, pricing, DPA, 2nd lien products; vendor’s new wares

  Fun with HMDA! Compliance folks everywhere know that yesterday the CFPB (“educate through education rather than enforcement”) issued a final rule amending Regulation C to extend the current temporary threshold...
• Thursday, October 10 Oct. 10: LO, branch jobs; DPA, pricing, digital products, MLO book; vendor news; lenders managing capacity

  I am in Chicago with the FHLBank Chicago, and, despite the congestion and energy on the streets, the numbers tell us that the local economy is slowing. (In local news,...
• Wednesday, October 9 Oct. 9: Ops jobs; JV, broker, non-QM, digital products; changes at Freddie; USDA primer

  What’s your price hit for a non-owner-occupied loan? Currently, there are 12 million single-family homes being rented in the United States, 35 percent of all rental housing around the country,...
• Tuesday, October 8 Oct. 8: EVP, LO jobs; digital, corresp., broker products; HUD, FHA, VA information

  As Treasury yields head toward the lows of September, and Monday’s bond market holiday, let’s start Tuesday with some “trivia.” Did you know that one of the handful of original...
• Monday, October 7 Oct. 7: AE jobs, business available; LO, pricing, research products; approaching events & training run the gamut

  Remember those futuristic movies where humans battle machines? Are we really that far off? Here’s one development: artificial intelligence is transforming drones from picture takers into action takers. “One example...
• Saturday, October 5 Oct. 5: Non-mortgage stories from readers; cornball technology humor

  “Rob, have you heard of potential liabilities from offering ARM loans to borrowers based on an index that you know is going away, i.e., LIBOR?” Gee, I don’t know. Ask...
• Friday, October 4 Oct. 4: LO jobs; valuation, DPA, correspondent products; bid tape primer; economic news moving rates

  U.S. shopping mall vacancies hit eight-year high. MGM agreed to pay up to $800M to settle the Las Vegas shooting lawsuits. HP will cut up to 9,000 jobs in a...
• Thursday, October 3 Oct. 3: LO jobs; workflow, broker, corresp. products; non-Agency, expanded credit product news

  We’re entering the forecasting season, where thousands of managers have to come up with figures for 2020 regarding volumes, margins, and profits for CEOs and owners. Good luck. (Yesterday I...
• Wednesday, October 2 Oct. 2: LO jobs; AOT, construction, broker, valuation products; lots USDA, FHA, VA updates across the biz

  Ever heard of Divvy Homes, ZeroDown, or Flyhomes? You should have, because your potential clients probably have. Startups are aiming to break down obstacles to homeownership, and every lender out...
• Tuesday, October 1 Oct. 1: Sales, LO jobs; books, sales events, recruiting products; news in conventional conforming land

  The beginning of the 4th quarter. Halloween is approaching. If your pipelines aren’t full with rates down here, and haven’t seen decent profits in the last few months, when will...
• Monday, September 30 Sep. 30: Legal, CFO, sales, management jobs; study & news on helping borrowers; the Fed & the election

  The final day of Q3 already… Aside from F1 drivers, did you know that Ferrari employees are not allowed to buy Ferrari cars? The exotic car market certainly has its...
• Saturday, September 28 Sep. 28: On a personal note…

  Saturday commentaries are usually reader’s letters, a deep dive into cybercrime, state laws, or Agency activity. But now, on a personal note… In some ways, our youth and middle years...
• Friday, September 27 Sep. 27: MLO & sales mgt. jobs; education, broker, BI, CRM products; econ. news continues; mortgage robots?

  Let’s end the week with some non-mortgage ramblings. Last night in Dallas I had dinner at The Mercury, a fish restaurant. (Who was in charge of naming that one? Try...
• Thursday, September 26 Sep. 26: AE, LO jobs; non-Agency, cap. mkts., disclosure products; dive into economic news pushing rates

  Depending on the product, 20-25% of the nation’s loans come from California. “Appraisal firms and appraisal management companies utilizing independent contractor appraisers in California, as well as any California appraisers...
• Wednesday, September 25 Sep. 25: AE, corresp. jobs; productivity, credit, LOS, U/W tools; plethora of events & free training

  One could argue that house flippers could make less if they buy the house for more than they expected, costs were more than anticipated, or the sales price was less...
• Tuesday, September 24 Sep. 24: LO, AE jobs; sales, media, renovation, Blend approval products; digital news; AFL-CIO’s mortgage company

  What does the AFL-CIO have in common with Zillow? Both own mortgage companies. Think partnerships and “strategic alliances” are against the rules? Think again. Zillow announced partnerships with 11 home...
• Monday, September 23 Sep. 23: LO jobs; sales, vendor, non-QM products; Agency updates: Fannie pricing change?

  Call it a comfortable barge or a luxury water house, thanks to Rudy D. for sending along this story about a $5.5 million floating home in Florida. Good luck for...
• Saturday, September 21 Sep. 21: Notes on interest rate direction, 30 vs. 15-year loans, & state law changes; a joke for LOs

  This week I spent some time in Pittsburgh at the Mortgage Bankers Association of Southwestern Pennsylvania and was chatting with Genworth Mortgage Insurance’s Greg Williams (who covers Western Pennsylvania, West...
• Friday, September 20 Sep. 20: Training, servicing, LO jobs; fraud, broker, LO products; corresp./wholesale changes

  A mile is 5,280 feet. And Central Park Tower on West 57th St. in Manhattan now stands at 1,550 feet, about a third of a mile. I mention this because...
• Thursday, September 19 Sep. 19: AE, LO jobs; originator, servicing, corres. products; primer on why extensions cost money

  The residential lending industry continues to evolve. Lenders are coming and going, moving in and out of business channels. (The latest example being Union Bank, as UBOC is rumored to...
• Wednesday, September 18 Sep. 18: LO, sales jobs; self-employed, pricing, cap. mkts. products; vendor products & capital raise

  This morning I find myself in Pittsburgh, PA for the MBA of Southwest Pennsylvania. (Yes, I am bound for lunch at Primanti Brothers.) It turns out that the nearest farm...
• Tuesday, September 17 Sep. 17: VA, LO jobs; digital, sales, broker products; mortgage compliance, risk, fraud Q&A

  As yet another example of a mortgage conference eating into a weekend, leading attendees to travel on a Friday or Saturday, the Mortgage Bankers Association’s Regulatory Compliance Conference starts this...
• Monday, September 16 Sep. 16: Sales, loan quality, broker products; vendor developments; rate volatility increase

  Music fans are saddened by the recent news of the deaths of Eddie Money and the Cars’ Rick Ocasek. In our industry, the news late last week that Black Knight,...
• Saturday, September 14 Sep. 14: Transferring Agency risk, LIBOR/SOFR news, and a primer on VA cash out refi pricing

  Call this edition a “capital markets issue” about pricing, the move away from LIBOR, and risk. Hopefully it gives readers a sense of what is going on with mortgage rates...
• Friday, September 13 Sep. 13: CFO, AE jobs; sales, DPA, HELOC, non-QM products; lender flood news; what is driving rates

  Any month that starts on a Sunday contains a Friday the 13th. The superstitious sufferers of “triskaidekaphobia” try to avoid bad luck by keeping away from anything numbered or labelled...
• Thursday, September 12 Sep. 12: LO jobs; sales, LOS, capital markets products; lots of events, even today; Stearns’ rumblings

  I apologize in advance for the length of today’s commentary, but there’s a lot going on! Ask any economist if rent control works, and they’ll say, “No.” But that didn’t...
• Wednesday, September 11 Sep. 11: LO, AE, sales jobs; non-QM, branding, correspondent products; origination channels 101

  Is our housing system a “dumpster fire?” (I don’t think so; we have hundreds of thousands helping millions every year although F&F would be better off if all their profits...
• Tuesday, September 10 Sep. 10: LO jobs; CRM, QC, warehouse, reverse, broker products; current economic picture

  The gap between the haves and have-nots continues to widen. Though the wealth of U.S. households has eclipsed $100 trillion, the wealthy have primarily accrued the post-recession gains. Those in...
• Monday, September 9 Sep. 9: AE jobs; LOS, sales, automation products; Fed tool Quantitative Easing is alive and well

  The United States is filled with historical and geographic trivia. Reno, Nevada, is farther west than San Diego, California. Johnson City, Tennessee is closer to Canada than it is to...
• Saturday, September 7 Sep. 7: Letters about GSE reform, HFAs & affordable housing, and appraisal waiver drama

  Everyone is watching overall applications drop, despite low rates, as the “pig in the python” of refis makes its way through funding departments. Winter is coming, and lenders, after a...
• Friday, September 6 Sep. 6: LO, U/W jobs; sales, broker products; Associated’s LIBOR shift; Freddie, Fannie, FHA’s future

  Yesterday the industry reacted to the topic of housing finance reform. HUD presented its plan for FHA. But, like news of Michael Jackson’s death overshadowing Farrah Fawcett’s who passed away...
• Thursday, September 5 Sep. 5: Prod. Dev., sales, u/w jobs; CRA, MI, sec. mkt., HMDA dashboard products; Freddie & Fannie changes

  Do you know what is picking up steam out there? Credit unions are on a “bank buying spree.” The numbers aren’t huge, but these not-for-profit financial firms have acquired a...
• Wednesday, September 4 Sep. 4: Underwriter jobs; broker, HELOC, warehouse, non-QM products; LOS survey; vendor news

  Would you transfer a quarter million smackers if your boss told you to? Let’s just remind every lender, and every bank: you have the money and others want it. Here...
• Tuesday, September 3 Sep. 3: AE, LO jobs; sales, VA, broker products; investor disaster news; 2018 HMDA data out with interesting stats

  We’re two-thirds of the way through with the third quarter of 2019, and with Labor Day behind us places like Minneapolis and Seattle are losing three minutes of sunlight per...
• Saturday, August 31 Aug. 31: Letters about compensation; ransomware, cyber-risk, and AI: can a robot obtain a patent?

  Over the last twelve years the mortgage industry has certainly been the subject of a lot of bad news and bad publicity. Yet through it all, hundreds of companies &...
• Friday, August 30 Aug. 30: LO jobs; construction, DPA, broker, customer-centric products; tech survey results; new lender

  As Floridians watch “Storm Porn,” as the weather channel is called, Tennessee is buzzing about this Nashville Realtor’s marketing. (Warning: Rated a solid R.) The rest of the nation is...
• Thursday, August 29 Aug. 29: LO, non-QM AE jobs; warehouse product; shifts in FHA, VA, HUD, & Ginnie policies

  Real estate agents, and lenders interested in joint ventures and “affinity programs,” are very interested in the Realogy news that the United Services Automobile Association (USAA) is discontinuing the USAA...
• Wednesday, August 28 Aug. 28: LO jobs; Ginnie pooling, credit, doc, broker products; corresp. & wholesale news

  For readers who deny climate change is real, natural or manmade, sinking cities around the world (including Houston and New Orleans) can be attributed to groundwater issues (public and private...
• Tuesday, August 27 Aug. 27: Subservicer survey, social media, DPA, multicultural products; wallowing in training, webinars, & events

  If Abraham Lincoln during the Civil War can go to the theater a hundred times, and if FDR during World War II can have a cocktail hour every night where...
• Saturday, August 24 Aug. 24: State law changes; letters about comp, ransomware, and borrower disposable income

  Comp? Cyberattacks? Changes in underwriting philosophy? A look through my email inbox indicates they’re on folks’ minds this week. And let’s throw in some state-law changes. Just because Congress is...
• Friday, August 23 Aug. 23: Sales, LO jobs; CRA, DPA, pricing, recruiting products; vendor chatter

  Japan’s government bonds could soon join Germany’s in having negative yields on all maturities. Japanese debt has gone negative out to 15 years, and buyers are turning to 30- and...
• Thursday, August 22 Aug. 22: Ops, LO jobs; POS, broker, marketing products; trends in customer service, digital survey

  Thank you to everyone who wrote yesterday correcting me that Hawai’i’s 1959 statehood is 60 years old and not 50. I know it’s not the case, but sometimes it seems...
• Wednesday, August 21 Aug. 21: LO jobs; customer retention, broker, reverse products; info on yield curve & mortgage rates

  Congratulations to Hawaii which became a state sixty years ago today. We’ve had plenty of economic cycles, small and large, in fifty years, although in general rates have been coming...
• Tuesday, August 20 Aug. 20: LO jobs; vendor contract, DPA products; webinars this week; credit news; Better.com is worth what?

  Why is a 43% DTI, a line many view as “drawn in the sand,” so critical to the ability of a borrower to repay a loan? What about reserves or...
• Monday, August 19 Aug. 19: Sales, AE, LO jobs; trailing doc & U/W products; vendor trends & news

  Builders can’t complain too much about material prices anymore. Building materials prices rose only 0.7% in July, and are down overall year-over-year. Despite tariffs, softwood lumber prices are down 20%...
• Saturday, August 17 Aug. 17: Letters on the importance of hiring through referrals, and ransomware & cybersecurity

  Today’s commentary focuses on two unrelated items that lenders, investors, and vendors spend, or should spend, a lot of energy on: hiring practices, and cybersecurity. How you find personnel can...
• Friday, August 16 Aug. 16: LO jobs; DPA, non-QM products; spec pool primer; deficits, debt, the yield curve, & mortgage rates

  Some international rates have gone through 0 percent and are now negative. The low rates and high volumes have caused lenders to focus less on long-term planning and more on...
• Thursday, August 15 Aug. 15: Trader, LO, Ops jobs; digital, reno products; originator survey; condo loans to become easier

  Plenty of economists watch builder activity and mood swings as early indicators of future economic health. Builder confidence in the single-family 55+ housing market continued in positive territory in the...
• Tuesday, August 13 Aug. 13: Ops, Cap. Mkts., AE, LO jobs; broker, DPA products; Aug. events; mortgage rates slow to drop – why?

  As we digest the news that CIT is buying Mutual of Omaha Bank, others are looking at demographics. Families moving create jobs, right? From 2017 to 2018, roughly 32 million...
• Monday, August 12 Aug. 12: LO, AE jobs; broker, credit, subservicer products; CRM survey & vendor news

  While the world is watching 0% or-.5% interest rates in Denmark, in this country Zillow is competing with lenders, real estate agents, and mom & pop fix & flippers. In...
• Saturday, August 10 Aug. 10: Thoughts on margin calls, LIBOR’s phase out & SOFR mortgages; credit risk transfers continue

  Interest rate volatility, LOs not interested in changing companies, the $8,500 cost of doing a mortgage hitting low-balance refi candidates the most, and profit-laden pipelines are capturing everyone’s attention. In...
• Friday, August 9 Aug. 9: MI job; DPA, sales, high LTV, analytic products; jumbo news; Santander exits TPO

  Critics of the “new and improved” 1003, aka URLA, for loan applications must be quite pleased with the indefinite delay of its required rollout announced yesterday. “The Federal Housing Finance...
• Thursday, August 8 Aug. 8: Ops, AE, LO jobs; credit, doc. products; vendors raising money & offering free inv. prop. appraisals

  Are there “non-profit” lenders and/or real estate companies in the private sector? (I’m talking business model, not tax status.) Sure there are. Here’s a quick example: Homewise in New Mexico....
• Wednesday, August 7 Aug. 7: AE, LO jobs; U/W, JV, DPA, CRM, broker products; 2nd mortgage and conv. conforming trends

  For me the first three weeks in August includes time in California, Washington, Nevada, Tennessee, and Michigan. Did you know that roughly 80% of new houses being built are in...
• Tuesday, August 6 Aug. 6: LO jobs; sales, retention, broker products; business is great, but what’s a margin call?

  With this downward move in rates lenders across the nation are girding their loins for margin calls from broker/dealers on mortgage-backed security positions. (What’s a margin call? Answer in the...
• Monday, August 5 Aug. 5: AE, LO jobs; CRM/LOS, warehouse, broker products; FHA & Ginnie news; CFPB & DOJ Fair Lending investigation?

  Blame mental health. Blame gun control. Blame “the system” or background check procedures. There’s plenty of blame to go around when it comes to the terrible mass shootings, and shootings...
• Saturday, August 3 Aug. 3: NMLS, Nevada lending law changes; the Fed rate cut; lender cybersecurity & ransomware news

  Habla Espanol? No? How about someone in your office? Being bi-lingual is a good thing. Many Hispanics speak English, the official language of the United States, but I bring this...
• Friday, August 2 Aug. 2: AE, LO, mgt. jobs; broker, U/W products; Freedom/J.G. Wentworth deal; vendor news; how ’bout dem rates!

  The FHA & VA know a little something about risk, and don’t want to stick out too much from Freddie and Fannie, resulting in adverse selection. Lenders are buzzing about...
• Thursday, August 1 Aug. 1: MI, AE, LO, sales jobs; cap. mkts., DPA products; upcoming conferences & webinars

  Well, we sailed through another perfectly good month, and many lenders had a superb July funding month. And there is great optimism about August’s numbers as well. Veterans, however, are...
• Wednesday, July 31 July 31: SVP, MI jobs; CRM, broker, sales, rental products; conventional conforming trends

  Large investors often shy away from monies that are not in the mainstream banking sector. (Accounts in cryptocurrency jump to mind.) Can you blame them? But plenty of people want...
• Tuesday, July 30 July 30: Ops, LO jobs; CRM, reno, pricing products; borrower satisfaction tips; wholesaler news

  Who’s in your wallet? How about 33-year-old Paige Thompson? Working for Capital One’s “cloud company,” she is accused of hacking into more than 100 million Capital One customers’ accounts and...
• Monday, July 29 July 29: LO jobs; marketing, wire fraud, profitability, cap. markets, bidding products; all eyes on the economy

  As the residential lending industry continues to buzz about the CFPB addressing the definition of a Qualified Mortgage, with proponents hoping that the ATR rules are better detailed, people who...
• Saturday, July 27 July 27: Census on housing; taxes & home ownership; coastal state lending law changes; a really bad joke

  For folks who like statistics, the U.S. Census Bureau recently released the 2018 Characteristics of New Housing Report, which provides annual statistics on the characteristics of new privately-owned residential structures....
• Friday, July 26 July 26: Encompass, LO jobs; appraisal, sales products; QM Patch & non-QM news in the primary & secondary markets

  You should become, if you’re not already, familiar with the term “Advance Notice of Proposed Rulemaking (ANPR).” The Consumer Financial Protection Bureau issued an ANPR toward ending its special treatment...
• Thursday, July 25 July 25: AE, Ops, LO jobs; non-QM, sales, FHA products; tech survey results; ECB nudges our rates

  If you, or your borrowers, want $125 from Equifax, or to receive free credit reporting, here’s what you should do. The official settlement website has been posted and is accepting claims. (To...
• Wednesday, July 24 July 24: AE, LO jobs ‘cross the nation; sales, LOS, POS, customer retention products; events & training; Amazon’s partnership

  Today, in Utah, it is either Pie & Beer Day, or Pioneer Day, I can never remember which. Words are funny things. How about “partners,” as in Amazon’s new TurnKey...
• Tuesday, July 23 July 23: CFO, LO jobs; LO training, construction, marketing products; FHA updates & free training

  During my travels someone recently told me that the “x” at the end of Cajun names was attributable to illiterate Cajuns “making their mark.” But instead it seems that two...
• Monday, July 22 July 22: DTC, AE, accounting jobs; document, non-QM, MI products; vendor news; rates steady

  There are more stars in the universe than words ever uttered by all the humans who ever lived. (That’s a good line for tonight’s Happy Hour.) Money, on the other...
• Saturday, July 20 July 20: State lending law changes run the gamut and indicate trends in the biz

  We’re not seeing the headline-grabbing Consumer Finance Protection Bureau news anymore. What’s up with that? Either companies are taking compliance seriously and are doing everything right, or the CFPB has...
• Friday, July 19 July 19: Sales, LO, AE jobs; credit, broker, accounting products; events & training; cap. mkts. dollar roll primer

  Some people pray for ice cream, and their prayers will be answered as this Sunday is National Ice Cream Day. An MLO prayer? “Dear Lord, just give me one more...
• Thursday, July 18 July 18: LO, AE jobs; bulk bid, construction, broker products; lender flood news; State Farm/Rocket Mortgage

  There’s a lot going on out there! Rocket Mortgage is creating new technology that will allow the State Farm agents to offer a Rocket Mortgage loan as a licensed loan...
• Wednesday, July 17 July 17: MBA, national account jobs; comp, broker, compliance exam products; F&F changes; the Fed & rates

  I encounter plenty of people in the mortgage biz, from part-time receptionists to owners, who are focused on helping consumers. It’s a good thing! And they ask me about consumer...
• Tuesday, July 16 July 16: AMCs wanted; rehab, U/W, training, non-QM, marketing products; Ginnie’s growth

  Although lots of small lenders don’t seem interested in being acquired any longer (“Hey, our pipeline is full and we’re making money again!), M&A is alive and well. The latest...
• Monday, July 15 July 15: Non-QM, U/W, broker, marketing, tech products; wholesale news; webinars this week

  You don’t think your spouse listens to you? What about Google? You bet: “Google Very Angry After Contractor Leaks Over a Thousand Assistant Recordings.” Interesting that many of the “best...
• Saturday, July 13 July 13: Letters on VA loans, marijuana, and tech spending; Agencies moving away from LIBOR

  Although VA loans are a relatively small part of the origination pie, they are very much a source of pride for those companies that offer them, and MLOs that specialize...
• Friday, July 12 July 12: VP, Controller, AE, LO jobs; doc, U/W products; LO training; Fannie, ARMs, and SOFR; yield curve news

  Glenn Freezman sent, “I have a step ladder. I never knew my real ladder.” Toddlers, drunk people, and yoga pants don’t lie. What about statistics? Denver’s medical marijuana dispensaries outnumber...
• Thursday, July 11 July 11: LO jobs; sales training, digital, broker, cap. mkts. products; FHA & DPA news; FOMC & rates

  In honor of World Population Day today, the Census Bureau tells us that the world’s population will hit 7.58 billion this month. But why believe that? Or anything “experts,” like...
• Wednesday, July 10 July 10: Sales mgt., LO jobs; construction, broker, reno products; close look at Stearns’ deal; Ginnie & SOFR

  There are still, surprisingly, people who deny that climate change is occurring. There are plenty of low-lying areas of this country that are threatened now or will be in the...
• Tuesday, July 9 July 9: Ops, LO jobs; u/w, digital, appraisal, cap. mkts, non-QM products; upcoming training, don’t ignore CECL

  I find it amusing when someone tells me, “The stock market is too risky for me. I have my money with some investment gal/guy.” What do you think they do...
• Monday, July 8 July 8: HR, CFO, LO, AE, Ops jobs; blockchain, warehouse, non-jumbo, MI products; Ellie restructure

  Welcome to “Work from Bed Day” around the nation. Okay, I just made that up, but it sounds enticing. Perhaps it would lead to greater worker satisfaction. Plenty of lenders...
• Saturday, July 6 July 6: Readers’ letters on technology being a given, veterans & 1003s; Agency risk transfer continues

  Not a lot going on out there. Holiday week. I thought about making up some sensationalist headlines or clickbait (“You won’t believe what these mortgage bankers looked like in 1980!”),...
• Friday, July 5 July 5: Nifty IRS news site; lender vendor M&A, news, developments; strong jobs data

  The IRS has only been with us since 1862, modern nationwide income tax since 1913. But, just like the gfee income “share” with Freddie and Fannie, and sweeping the Agencies...
• Wednesday, July 3 July 3: Bus. Dev., LO jobs; cap. mkts., broker products; trends in condo lending; lower rates ahead?

  I was in Park City, Utah recently, and the real estate agents gave me an interesting statistic: it is believed that 80% of the land and buildings are owned by...
• Tuesday, July 2 July 2: Hd. of corresp., Controller, AE, LO jobs; recruiting, training products; VA, FHA industry shifts

  This weekend I helped my son change apartments in San Francisco, and all over were billboards for ZeroDown.com: “Smartest Way to Buy a Home.” And if there is one market...
• Saturday, June 29 June 29: State & national law changes impacting lending; reverse occupancy fraud

  Lots of people in the biz are talking about the great June they had, and, given the size of their pipelines, are looking forward to July and August funding months....
• Friday, June 28 June 28: AE, Ops jobs; broker, appraisal products; M&T exits wholesale; investor policy & procedure changes

  VA lenders are talking about the “cap” being removed as the Department of Veterans Affairs can now back loans that exceed the conforming loan limit. President Trump signed the Blue Water Navy Vietnam...
• Thursday, June 27 June 27: LO jobs, bus. opportunity; non-del, sales, software, jumbo products; misc. vendor updates

  Did you know that in 2018 the U.S. birth rate dropped for the fourth consecutive year? In fact the number of people born in the United States last year was...
• Wednesday, June 26 June 26: LO, Ops jobs; title, CRM, cap. mkts. products; new programs from Agencies, lenders, & investors

  When I grow up, I want to own… 16,000 single family homes? Yes, here’s an article about how artificial intelligence has helped a landlord, and fund, accumulate that portfolio of...
• Tuesday, June 25 June 25: LO jobs; broker, digital, appraisal products; bank and lender M&A going bonkers: First Bank/Roosevelt ink deal

  Guys with an eyepatch and three fingers sell the best fireworks. Who does the best job selling mortgage products to consumers? Regulators, Agencies, and investors have seen the percentage of...
• Monday, June 24 June 24: COO job; loan delivery, construction products; HECM servicing sale; wide range of upcoming training & events

  I start the last week of June in Park City, Utah at a STRATMOR meeting and with a correction. In discussing tax laws in Saturday’s commentary I wrote, “The new...
• Saturday, June 22 June 22: The economy; California housing market; hedging servicing; learn from Supreme Lending’s ransomware attack

  Not worried about computer issues? Your vendor(s) will take care of everything? Guess again. Baltimore was hacked, grinding the recording of documents to a halt. A Florida city will pay...
• Friday, June 21 June 21: LO, UW jobs; non-agency product; Fannie/Freddie updates; VA IRRRL reminder/clarification

  That mortgage prices change every day, and often during the day, is about as surprising as sheriffs finding marijuana on Willie Nelson’s tour bus. Price changes have an immediate impact,...
• Thursday, June 20 June 20: LO jobs; database sales, closing costs products; lender-related M&A rolls on; what is moving rates

  “Enable” is such a vague, over-used tech term. The same with “repurpose.” But over the next 10 years Google is going to “repurpose” (aka, re-zone) a lot of land and...
• Wednesday, June 19 June 19: MLO jobs across the nation; credit product; primer on current prime jumbo securitization market

  Good loan officers pay attention to demographics. For example, according to a new report from the United Nations, the population of the planet could rise from its current 7.7 billion...
• Tuesday, June 18 June 18: Digital, marketing, training products; in person or on your phone, upcoming teaching & events run the gamut

  With the backdrop of a global bond market rally today, let’s look back at Randy Newman singing, “It’s money that matters, hear what I say. It’s money that matters, in...
• Monday, June 17 June 17: AE, LO jobs; private money, commercial products; flood & disaster updates; Quicken Loans settlement

  I find builder’s naming policies amusing. Let’s call a subdivision “Hidden Valley” or “Lonesome Pines” when it isn’t hidden or lonesome anymore with 500 homes in it. Let’s pave over...
• Saturday, June 15 June 15: Notes on the LIBOR transition, Modern Monetary Theory, the Option ARM’s origins & principals

  We’re a week away from the official beginning of summer: vacations, fewer conferences, home buying, arriving at work early to snag the shady parking place. (A week is a long...
• Friday, June 14 June 14: Sales & LO jobs; eClose, non-QM, broker products; VA & FHA investor shifts

  “The City of Baltimore, Maryland suffered a ransomware attack on May 7, 2019. Due to the attack, the City is currently unable to record documents until further notice. In the interim...
• Thursday, June 13 June 13: Non-QM, underwriting, marketing, AOT execution products; borrower satisfaction tips; 1003 pause

  At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) are communicating that the optional use period for the redesigned...
• Wednesday, June 12 June 12: LO jobs; reno, MI, broker, IO products; Freddie & Fannie going ape with changes

  In the tech world, the question of, “What is real, and what isn’t?” is becoming more of problem to determine than ever before. The latest is in re-programming video and...
• Tuesday, June 11 June 11: LO jobs; LO training, e-closing, marketing products; FHA & VA changes in the biz

  As I head to Kansas today, I have a great quote. Lenders I visit with are optimistic, raising margins to slow volume based on capacity constraints, and entirely different outlook...
• Monday, June 10 June 10: LO jobs; correspondent, construction products; automation survey; hedging tool

  This morning I find myself in Albany for the NYMBA conference and there is a lot of talk about the political situation, debt levels, and interest rates. It is possible...
• Saturday, June 8 June 8: LIBOR transition news; state law changes; option ARM thoughts; my life summed up in a joke

  As always there is a lot going on with lenders, ranging from the new 1003 all the way to President Trump calling off his plan to impose tariffs on Mexico....
• Friday, June 7 June 7: Compliance, AE, LO jobs; broker, non-QM products; tariffs & rates; non-QM & expanded products across the biz

  Today is National Doughnut Day, but those in financial services are probably more interested in U.S. equities having their second-best day of the year Tuesday after Federal Reserve Chairman Jerome...
• Thursday, June 6 June 6: LO jobs; non-QM, pricing, reno products; vendor news; CFPB/Freedom settlement

  Here on the 75th anniversary of D-Day, recall that, “Those who cannot remember the past are condemned to repeat it.” One could easily follow that with, “Those who remember the...
• Wednesday, June 5 June 5: LO jobs; sales, digital, cost-saving products; upcoming events & free training; company moves and M&A

  I was walking by a classroom recently and I overhead the teacher telling the 1st graders, “Let’s work really hard today – your parents are eager for deliverables.” There are...
• Monday, June 3 June 3: HR, LO jobs; eClosing, u/w products; vendor capital infusion; URLA webinar & other training this week

  If you had $85 million you could buy 85 $1 million homes in as many countries, or one apartment in Manhattan’s West Side that includes two Rolls-Royces, a Lamborghini, a...
• Saturday, June 1 June 1: USB ports suspect? Relationships matter for vendors; state lending law maneuvers; cool business cards

  Web security Thank you to Brian B. who sent along this story on 9 Signs You Might Get Hacked. “62% of small and medium sized companies have been hit by...
• Friday, May 31 May 31: Sales, Corresp., AE, LO jobs; broker/dealer, POS products; jumbo/high bal. trends

  Congress has become adept at kicking the can down the road, the latest example being, for the 11th time, passing a two-week extension for the National Flood Insurance Program. Those...
• Thursday, May 30 May 30: LO jobs; broker, digital, customer retention products; FHA, VA, Ginnie changes run the gamut

  My cat Myrtle’s direct exposure to the falling stock market is minimal. Mine, however, has become a sense of concern as I watch the value of my holdings get clocked,...
• Wednesday, May 29 May 29: LO jobs; processing, sales, u/w products; digital white paper; 40% of MLOs close what % of total volume?

  Lenders ask themselves, “Would you fund loans where people cannot buy or sell houses because they can’t check, or record, liens?” Probably not, and this month Baltimore joined other cities...
• Tuesday, May 28 May 28: IT, sales, LO jobs; MSR sale, cost bundling, high balance products; the CFPB wants your input!

  First off, best wishes to Quicken Loans’ owner Dan Gilbert who was hospitalized Sunday after experiencing stroke-like symptoms. As the lending industry sees 19-month lows in rates (the 10-year hit...
• Saturday, May 25 May 25: Libor transition; TN & NJ lending law changes; blockchain, cybersecurity, and FAF’s immense data leak

  First off, a nod to the dedicated real estate columnist Kenneth Harney who passed away this week. In lending it’s a full-time job staying abreast of the changes to our...
• Friday, May 24 May 24: LO, AE jobs; digital, u/w, recruiting, best-ex products; workflow automation survey

  The Memorial Day weekend… Wasn’t it just Christmas? Let’s wrap up what’s on the front burner for execs at the MBA’s Secondary Conference as we see the trade-war driven low...
• Thursday, May 23 May 23: AE, LO, Ops jobs; construction, subservicer, reverse products; technology options report

  As millions around the globe revel in World Turtle Day, others are more interested about what went on the hallway chatter at the MBA’s Secondary Conference as we see the...
• Wednesday, May 22 May 22: Business opportunities, LO, AE jobs; broker, u/w, warehouse products; conventional conforming news

  What’s going on behind the scenes and in the rumor mill at the MBA’s Secondary Conference? There is derision about HUD’s Ben Carson not knowing what “REO” stands for. Holders...
• Monday, May 20 May 20: LO jobs; training, reno, appraisal products; E&O warning; FHFA, Fannie, Freddie rumblings

  Tony H. sent, “A conference is a gathering of people who singly can do nothing, but together can decide that nothing can be done.” Not at this MBA event, right!?...
• Saturday, May 18 May 18: State law changes, thoughts on non-QM, borrower credit scores, URLA; the origin of CNBC’s rates

  I mentioned to my cat Myrtle that a) I was heading to New York for the secondary conference, which garnered no reaction, and b) that Grumpy Cat was “no longer...
• Friday, May 17 May 17: AE, LO jobs; DPA, broker, u/w, MSR products; bank, lender, credit union M&A rolls on

  A capital markets friend relayed this note recently received from an LO. “When do you think stated pick-a-pay products will come back? I have some borrowers with LTVs less than...
• Thursday, May 16 May 16: LO jobs; PR, HELOC, AMC, closing cost, loan trading products; free tech survey

  “Rob, have you noticed that CNBC is running mortgage rates on its streaming ticker, on the screen? I wonder how they do it without disclosing APR, etc. It could be...
• Wednesday, May 15 May 15: Ops, AE, LO jobs; non-QM, TPO, marketing products; 2-yr yield lower than overnight FF – what is moving rates?

  As we nip at the lowest interest rates in 2019, banking regulators are directing their attention to the declining quality of certain farm loans. A Federal Reserve report says from...
• Tuesday, May 14 May 14: LO jobs; cap. mkts/MSR, customer service products; training & conferences coming up soon

  What’s in a name? Lots. Try asking someone what “gluten” is. (Here’s a comical look at that.) Try asking someone in our business what the difference is between a “mortgage”...
• Monday, May 13 May 13: LO, bus. dev., AMC, AE, cap. mkts. jobs; vendor mgt., reno, pricing products; lender disaster updates

  I want an Ethereum-powered home loan! It doesn’t matter that I don’t know what Ethereum is; apparently they’re on their way to NY and CA. “Tokenizing the house” doesn’t sound...
• Saturday, May 11 May 11: Agencies continue to transfer risk; blockchain & AI lender news; advice from senior female exec

  Everyone is very important at work. In fact, indispensable, right? The time Americans actually take off from work has declined from 20 days per year in 1987 to 17 days...
• Friday, May 10 May 10: Ops, AE, LO jobs; S&D, correspondent products; FHA, VA, Ginnie, & lender gov’t news runs the gamut

  The Federal Housing Administration (FHA) announced a package of incentives to encourage multi-family property owners to invest in thousands of neighborhoods located in Opportunity Zones across the nation. Think reduced...
• Thursday, May 9 May 9: LO jobs; sales, anti-fraud, affordable housing products; fintech cap raise; Agency news; remember QE?

  Attributes like trust, humility, honesty, and transparency aren’t traits assigned to websites focused on originating loans. Human capital is valuable, although one can’t ignore the march of technology. (Boeing is...
• Wednesday, May 8 May 8: LO jobs; broker, referral, DPA, SRP products; May training & events; new lender & MI products

  VA mortgage lenders hit with federal subpoenas? Apparently. Secondary markets (the demand for loans and what investors are willing to pay for them) drive the primary markets: Anything that impacts...
• Tuesday, May 7 May 7: LO jobs; PoS for sale, training, reno, u/w, recruiting products; misc. vendor news

  If you want to have more of your financial future tied to lending, PennyMac Mortgage Investment Trust (PMT) announced the pricing of an underwritten public offering of 8,000,000 common shares....
• Monday, May 6 May 6: LO jobs; eNote, underwriting, compliance products; non-QM & Ginnie securities update

  Welcome to May 6th, the anniversary of the first tequila hangover. (Yes, for those of you who wrote, I know that May 5 is not Mexican Independence Day, which is...
• Saturday, May 4 May 4: State lending law changes; deep dive into First Choice – there is no Costco Mortgage

  Lenders and vendors and investors, coming and going, personnel moving around, programs coming and going… who can keep track? It is important to distinguish between facts, misinformation, and rumors. The...
• Friday, May 3 May 3: Sales/bus. dev. jobs; broker, underwriting, tax products; conv. conf. news & an MSR valuation primer

  On the trading desk we would always chuckle when someone would occasionally cry out, “Oh! I was working so hard I forgot to eat!” Really? One thing is for sure,...
• Thursday, May 2 May 2: Sales, LO jobs; portfolio, construction products; eNote & eClosing news; upcoming training

  I was on a flight yesterday to Orlando for the MBAG annual conference on the coast. The plane was packed, half with 4-13-year-old passengers bound for “The House of Mouse.”...
• Wednesday, May 1 May Day: LO, AE jobs; non-QM, 1st time homebuyer program training; lender cost/pricing changes

  Why don’t you ever see the headline, “Psychic Wins Lottery?” Some people believe that economists have the ability to predict rates, bookmakers have the ability to predict winners and losers,...
• Tuesday, April 30 Apr. 30: LO jobs; eNote, appraisal, operating system products; new programs from lenders

  Well, we’ve sailed through another perfectly good month. Wasn’t it just New Years? There are plenty of interesting things going on in residential lending. How about, “Still Renting? You’ve dreamed...
• Monday, April 29 Apr. 29: LO jobs; reverse, compliance, servicemember products; the CFPB is alive and well

  When I was a kid in California, as with my parents and their parents, and their parents, flowers and fruits had seasons. Roses bloomed in the spring. There weren’t any...
• Saturday, April 27 Apr. 27: LIBOR transition news; Agency & non-Agency developments in the capital markets; G-rated humor

  If it weren’t for the capital/secondary markets providing liquidity for the primary markets, mortgage rates would be much higher. By the way, through thick and thin the Agency mortgage-backed security...
• Friday, April 26 Apr. 26: Marketing, LO jobs; tech, non-QM products; HFA/DPA news; training & events; TBA trading tool

  M&A is rampant, big and small, and is expected to continue throughout 2019. There’s a constant stream of individual branch or small company moves, but the latest headline-grabbing news came...
• Thursday, April 25 Apr. 25: AE jobs; warehouse, underwriting products; Agency news – HomeReady & cannabis

  In low down payment and HFA news, HUD, dba the FHA, has agreed to a 90-day stay in implementation of Mortgagee Letter 19-06 (regarding down payment assistance) to have a...
• Wednesday, April 24 Apr. 24: Servicing, AE jobs; non-QM, document products; news from FHA, VA, HFAs; Compass & API

  How often do you buy candles at retailer Pier 1? Me neither. Due to poor earnings Pier 1 Imports announced it will close another 45 stores (up to 150 if...
• Tuesday, April 23 Apr. 23: CFO, lobbying, LO, AE jobs; u/w, subservicer products; vendors going ape – raising $, buying lenders, using blockchain

  Should small, non-depository mortgage bankers be concerned about big banks renewing their interest in FHA loans? Probably. Bank of America is promoting its $0 origination fee FHA & VA programs....
• Monday, April 22 Apr. 22: Credit risk, LO, AE jobs; MI, non-QM, HELOC products; spec pool primer; LO comp & licensing update

  Remember NINA loans from 10-15 years ago where the lender would purposely discard anything in the file dealing with income because underwriters didn’t want documentation? Several lenders are now promoting...
• Saturday, April 20 Apr. 20: Update on move away from LIBOR; state lending law changes from ND, WY, UT

  Happy 420 day! (And “Happy Surprise Drug Test Day” tomorrow!) More and more people in more and more states understand what that signifies. And there is gradual pressure to change...
• Friday, April 19 Apr. 19: LO jobs, business opportunities; non-QM, corresp. products; FHA addresses DPAs, Chenoa responds

  Saturday my commentary raised the question about whether lenders would rather see a recession, with its typically lower rates, or a burgeoning U.S. economy with its higher associated rates. From...
• Friday, April 19 Apr. 19: LO jobs, business opportunities; non-QM, corresp. products; FHA addresses DPAs, Chenoa responds

  Saturday my commentary raised the question about whether lenders would rather see a recession, with its typically lower rates, or a burgeoning U.S. economy with its higher associated rates. From...
• Thursday, April 18 Apr. 18: AE & LO jobs; u/w product, paper on FHA changes; tech report; compliance & Ops news

  Experienced originators know that lending is a numbers game. Every 100 cold calls result in 20 conversations, which result in 5 potential leads, which result in 1 closed loan. Or...
• Wednesday, April 17 Apr. 17: Underwriting, call center, non-QM products; mortgage M&A rolls on; QE still influencing rates – a primer

  Economic doldrums? Probably not – but there is always someone out there claiming dire straits are right around the corner. A CNBC survey of Wall Street experts finds over 96%...
• Tuesday, April 16 Apr. 16: LO jobs; coaching, underwriting, franchise products; tech study; Non-QM compliance webinar

  Things aren’t always what they seem. Does the mainstream press, or politicians, think about how about how much money it takes to attract top talent to senior roles at top...
• Saturday, April 13 Apr. 13: Letters on margin control & the lender’s role in the mortgage process; state law changes

  Earlier this week I spent some time with a senior loan officer who was telling me about a friend at a collection agency. The friend was telling the LO that...
• Friday, April 12 Apr. 12: LO, sales mgt. jobs; condo, referral products; upcoming events; investing in our biz takes many forms

  Loan officers everywhere tell me about “The Bank of Mom and Dad” helping buy homes, either through gifts or co-signing, helping overcome that down payment hurdle. Investing money is often...
• Thursday, April 11 Apr. 11: AE, LO jobs; lease mgt., underwriting, bid tape tools; F/F, conventional conforming updates

  Kim Kardashian has vowed to take and pass the bar exam in 2022 without attending law school. You go girl! Few who go that route pass the test. Then again,...
• Wednesday, April 10 Apr. 10: LO jobs, personnel moves; broker, automation, coaching products; asset sale

  “My 8-year-old daughter can already read at a 5th grade level and ignore me at a 12th grade level.” Talking about young ‘uns, who needs great grades when… The house...
• Tuesday, April 9 Apr. 9: LO jobs; cap mkts., disclosure, tech products; vendor mania; Single Security Playbook

  Free ice cream at Ben & Jerry’s Scoop Shops today? Count me in! Going back a few days, in Saturday’s commentary I mentioned a company offering blockchain HELOCs to brokers...
• Monday, April 8 Apr. 8: LO, mgt. jobs; 95%, HELOC, jumbo, non-QM, broker products; M&A rolls on

  The move down in rates has sparked optimism about volume (and perhaps margins) out there. But mergers and acquisitions (M&A), and the details thereof, for many reasons, continue. For example,...
• Saturday, April 6 Apr. 6: Fannie’s deals in the cap markets; technology: company offering & securitizing HELOCs through blockchain!

  People in different positions in residential lending, like capital markets, IT, and owners, have different concerns. For example, MLOs (mortgage loan originators) are watching the MBA’s moves to correct LO...
• Friday, April 5 Apr. 5: Ops, LO, AE jobs; investor wanted; appraisal, construction products; lots of events; Agency changes

  Some New Yorkers like to think that they’re at the Center of the Universe. But, though larger Java, in terms of islands, in Indonesia, is home to 135 million inhabitants...
• Thursday, April 4 Apr. 4: Capital markets, sales jobs; disclosure, FHA products; primer on servicing values

  NASA has taken another step to make interplanetary living a reality, naming the top three finalists for its ongoing 3D-Printed Habitat Challenge. I am sure building something on the moon...
• Wednesday, April 3 Apr. 3: LO jobs; outsourcing, marketing, broker products; non-conforming & jumbo trends

  Anyone traveling near San Francisco may have seen “The Flintstones House” perched on a hill next to the freeway. Neighbors don’t like it. But I guess my mind is officially...
• Tuesday, April 2 Apr. 2: DTC job; legal webinar, recruiting, non-QM, broker products; tech survey; vendor news

  “Probability tells you that a toddler has a 50-50 chance of putting their shoes on the correct feet. Parenting tells you otherwise.” Merging or acquiring is a costly exercise and...
• Monday, April 1 Apr. 1: AE jobs; disclosure, HELOC, non-QM, rural products; credit news & shifts in credit guidelines

  (Yes, here is today’s actual commentary.) It is well known among loan officers that real estate agents don’t know their client’s credit situation before recommending the buyer to an MLO....
• Saturday, March 30 Mar. 30: At $8,600 per loan, now what? Letters on capacity, LO comp, offshoring/outsourcing

  It doesn’t help lender’s relationships with their warehouse banks and correspondent investors when independent mortgage banks, and mortgage subsidiaries of chartered banks, reported a net loss of $200 for each...
• Friday, March 29 Mar. 29: AE, LO jobs; investor wanted; warehouse, broker products; Banc of Cal exit; coast to coast training & events

  Wells Fargo’s continuing saga continues with the resignation of its CEO Tim Sloan over opening accounts without customer’s permission. “Fortunately” this time it was not for mortgage-related issues, and Allen...
• Thursday, March 28 Mar. 28: Corresp. group available, LO, AE jobs; F&F changes, Trump wants to promote competition using housing policy

  Be careful with your advertising! HUD announced today that it is charging Facebook with violating the Fair Housing Act by encouraging, enabling, and causing housing discrimination through the company’s advertising...
• Tuesday, March 26 Mar. 26: LO jobs; DACA, eMortgage, comp, loan trading products; comp survey findings; lender disaster news

  “Rob, are you hearing that the sudden increase in lock volume is from borrowers who had a lock with one lender moving to another lender?” Not yet, and let’s hope...
• Monday, March 25 Mar. 25: Servicing, non-QM, underwriting products; why rates are this low, and impact on refi population

  Sometimes you’re stuck in the middle. (Thanks to Myrtle for that one.) Right now, it seems, rates are done being stuck in the middle and have edged back down leading...
• Saturday, March 23 Mar. 23: Letters & notes on MLO comp; “fun” with Agency guarantee fees in capital markets pricing

  “Rob, the industry is focused on the ‘price wars’ raging in the wholesale channel. But what is to stop any lender from running loans through DU and LP, gaining approval,...
• Friday, March 22 Mar. 22: LO jobs; Enforcement action webinar; Non-QM snapshot; German 10-year yield drops below 0%

  Congrats to former President Jimmy Carter. As of today he is no longer just the oldest living U.S. president, but now is the longest-living in the nation’s history. Created in...
• Thursday, March 21 Mar. 21: Ops. mgt., sales jobs; vendor mgt., appraisal, compliance products; FHA changes turning heads

  Want a growth industry? How about aging? PulteGroup’s Del Webb 55+ brand will build 10 new Del Webb communities, planned to open over the next 18 months. Boomers welcome! Another...
• Wednesday, March 20 Mar. 20: AE, LO jobs; sales, investor, construction products; servicing study; Citi’s penalty & CFPB/compliance news

  Why do us capital markets folks seem to speak a different language? To better understand what secondary marketing folks deal with every day, here’s a piece titled, “Best Execution in...
• Tuesday, March 19 Mar. 19: LO jobs; sales, marketing products; lender training; misc. vendor, MBS platform updates

  At roughly $8,500 per loan and continuing to defy gravity, scholars disagree on whether vendors lower the cost of originating a residential loan. But then again, scholars disagree on everything....
• Monday, March 18 Mar. 18: Cap. mkts., LO jobs; banker-to-broker, warehouse products; LO, 1099 comp – brokers, MBA weigh in

  I hope that I never get to the point of writing things down on my “to do” list even after I’ve done them, just so I can cross them off...
• Friday, March 15 Mar. 15: COO, sales jobs, MSR buyer wanted; broker products; M&A update – shell available; hedging builder forwards

  I didn’t know that America has a “most hated” type of home loan until Bloomberg “informed” me that reverse mortgages are… hated. Hated? Couldn’t the author have focused on the...
• Thursday, March 14 Mar. 14: LO jobs; mobile app, broker, digital products; loan package for sale; fee & pricing changes

  Happy pi day, 3.14… Did you hear about the three statisticians that went out hunting? They spotted a rabbit. The first shot too high. The second shot too low. The...
• Wednesday, March 13 Mar. 13: AE, LO jobs; recruiting, sales, compliance products; upcoming training & events; what to call UMBS?

  Builders, appraisers, & real estate agents love to talk about square feet. Houses are becoming larger as households have become smaller. Right now, the average square footage for an American...
• Tuesday, March 12 Mar. 12: Legal, LO jobs; non-QM, investor, DPA products; VA, FHA, USDA Ginnie news; F&F’s good UMBS news

  This morning I’m feeling old after a 3AM wake up call to travel from Ellie Mae’s conference in San Francisco to the MBAKY in Louisville. (Speaking of “old,” the other...
• Monday, March 11 Mar. 11: AE, LO jobs; AI, recruiting, subservicer products; Freddie, Fannie changes in primary, secondary, & servicing areas
• Saturday, March 9 Mar. 9: Letters on LO comp, lack of concern about cybersecurity, advice from women for women new to our biz
• Friday, March 8 Mar. 8: AE, bus. dev. jobs; customer service, digital white papers; primer on how spec pool pricing helps sellers
• Thursday, March 7 Mar. 7: Sales, LO jobs; underwriting, marketing, hedging products; what is moving rates; new humor
• Wednesday, March 6 Mar. 6: LO jobs; underwriting, temp buydown products; upcoming events; vendor String acquired
• Tuesday, March 5 Mar. 5: LO jobs; recruiting, broker, lead-gen products; women’s advice for those new to our biz
• Monday, March 4 Mar. 4: LO jobs, personnel additions; combo, underwriting products; random vendor developments
• Saturday, March 2 Mar. 2: Notes on common sense technology selection; blockchain, cybersecurity; state lending laws keep changing
• Friday, March 1 Mar 1: CFO, LO, AE jobs; correspondent news around the biz; vendor name change
• Thursday, February 28 Feb. 28: LO jobs; non-QM, robotics products; personnel moves; lender profit study; PennyMac/MCT API bidding news
• Wednesday, February 27 Feb. 27: LO jobs; sales training, digital products; wholesale news across the biz; Zillow & Chase news
• Tuesday, February 26 Feb. 26: LO jobs; renovation, training, USDA products; primer on why mortgages have different prices
• Monday, February 25 Feb. 25: LO jobs; non-QM, workflow & profitability products; study on referrals; events & training coming up
• Saturday, February 23 Feb. 23: Notes on LO comp, the role of independent mortgage bankers, LO productivity, and recruiting
• Friday, February 22 Feb. 22: Sales, marketing jobs; broker, non-QM products; lenders & investors react to VA & FHA changes
• Thursday, February 21 Feb. 21: LO, AE, Ops jobs across the nation; mobile app product; TIAA/US Bank deal; FHA, VA, Ginnie news
• Wednesday, February 20 Feb. 20: Marketing, LO jobs; digital, pricing products; retail digital & program news incl. loanDepot’s smartloan
• Tuesday, February 19 Feb. 19: LO jobs; marketing, training products; ‘nother wholesaler exits; new lender products; conforming news
• Monday, February 18 Feb. 18: Wholesale team available; upcoming events & training; primer on why rates go down when bond prices go up
• Saturday, February 16 Feb. 16: Letters on forecasts for 2019, the role of appraisals, False Claims Act policy, and LO comp
• Friday, February 15 Feb. 15: Sales jobs, business opportunities; construction, marketing products; impressive Agency earnings
• Thursday, February 14 Feb. 14: LO jobs; digital white paper, customer service, pricing products; another False Claims action; risk transfer status
• Wednesday, February 13 Feb. 13: AE jobs; reno, AUS, marketing products; lender legal news; news on OB’s index, flood insurance, ditech’s Ch. 11, Ellie’s purchase
• Tuesday, February 12
• Monday, February 11 Feb. 11: LO jobs; broker, digital, CRM tools & news; conventional conforming changes continue
• Saturday, February 9 Feb. 9: A dive into news about lending to both ends of the age curve
• Friday, February 8 Feb. 8: LO jobs; broker, automation products; nationwide bank M&A news; slowing Europe helping U.S. rates
• Thursday, February 7 Feb. 7: Sales mgt. jobs; sales, non-QM, cap. mkts., fraud protection products; MGIC’s pricing engine; BB&T/SunTrust deal
• Wednesday, February 6 Feb. 6: LO jobs; broker, sales, digital products; Agency news; comp survey – guarantees still out there?
• Tuesday, February 5 Feb. 5: LO jobs, layoffs; LO products, digital white paper; training & events across the country & in your living room
• Monday, February 4 Feb. 4: West Coast LO jobs; new broker non-Agency product; DPA aid; econ. news keeping rates low
• Saturday, February 2 Feb. 2: Letters & notes on rate locks expiring, non-QM appraisals, housing & economics
• Friday, February 1 Feb. 1: AE, LO jobs; deals completed, lender products; FHA/VA/Ginnie news; HMDA & compliance update
• Thursday, January 31 Jan. 31: Cap. mkts., LO jobs; Ginnie, Freedom, loanDepot; digital trends report; Rule 4210 delayed again
• Wednesday, January 30 Jan. 30: LO, AE, recruiting jobs coast to coast; profitability products; events, free webinars, training coming up soon
• Tuesday, January 29 Jan. 29: Sales jobs; cap mkts, sales products; bank competitive pressures from all over; good flood insurance news?
• Monday, January 28 Jan. 28: LO jobs; TPO, sales, underwriting products; conventional conforming lender & investor changes
• Saturday, January 26 Jan. 26: Psychology, lotteries, and rate locks; letters on banks, credit unions, and non-banks in lending
• Friday, January 25 Jan. 25: AE mgt., sales, LO jobs; cap. markets, condo products; LO turnover study; conv. conforming changes continue
• Thursday, January 24 Jan. 24: LO, non-QM, automation products; misc. vendor news; political, not economic, news impacting rates
• Wednesday, January 23 Jan. 23: LO jobs, company wanted; sales products & webinars; Freedom joins FHA & VA pricing competition
• Tuesday, January 22 Jan. 22: LO, sales jobs; asset verification product; Fannie & Freddie changes run the gamut, incl. shutdown underwriting shift
• Monday, January 21 Jan. 21: Relationship mgt., LO, AE jobs; sales training; capital markets dive into Agency CRTs – transferring risk
• Saturday, January 19 Jan. 19: News on LIBOR transition, notes on the shutdown, nonbank residential lending, MBS duration & prepayments
• Friday, January 18 Jan. 18: LO jobs; condo, sales, business intelligence products; Freddie & Fannie program & process changes
• Thursday, January 17 Jan. 17: LO jobs; Subservicer, non-Agency products; world debt increasing; primer on “duration” and mortgage pricing; Chase deal
• Wednesday, January 16 Jan. 16: LO jobs; broker, manufactured home, capital markets products; Radian expands; big banks’ mortgage volumes
• Tuesday, January 15 Jan. 15: AE, LO jobs, personnel moves; CRM, PR, sales products; January training & events
• Monday, January 14 Jan. 14: Secondary marketing, LO jobs; digital, property inspection products; Radian’s RADAR Rate product
• Saturday, January 12 Jan. 12: Notes on tech, blockchain patent, M&A & cyber risk; CA, Ohio, IL busy with lending law changes; NY addresses AMCs
• Friday, January 11 Jan. 11: LO, AE jobs; digital white paper, bid tape product; Fitch rates Cascade; shutdown lending update
• Thursday, January 10 Jan. 10: Marketing, LO, Ops jobs; sales, non-QM products; Ginnie’s Bright resigns; M&A: Movement/Eagle, HFG/Dorn deals
• Wednesday, January 9 Jan. 9: LO jobs coast to coast; non-QM, appraisal products; events this week; new buydown, 2nd look products
• Tuesday, January 8 Jan. 8: LO & sales jobs; database, Section 184 products; Lennar/Eagle lawsuit; M&A continues unabated nationwide
• Monday, January 7 Jan. 7: AE jobs, New Penn now NewRez, homebuyer product; sample of vendor news; rates reflecting slowdown
• Saturday, January 5 Jan. 5: Notes on VA cash-outs, what happens after a merger or acquisition; HMDA fields ready for input
• Friday, January 4 Jan. 4: MI, LO, AE jobs & promotions; non-QM, joint venture products; Agency shutdown news; flat rates in 2019?
• Thursday, January 3 Jan. 3: LO, production jobs; broker, digital products; Jan. events incl. ARM webinar; basic primer on how rate sheet pricing is set
• Wednesday, January 2 Jan. 2: AE, underwriter, LO jobs; warehouse, marketing products; important VA cash-out changes on tap

• Monday, December 31 Dec. 31: Rates, the Fed, world economies, affordability, and the shutdown – all tied together
• Saturday, December 29 Dec. 29: FEMA reverses flood ruling; cybersecurity notes; observations on general housing trends
• Friday, December 28 Dec. 28: Doc automation product; FHA & VA changes around our biz; Agency deals continue to share risk
• Thursday, December 27 Dec. 27: Non-QM, marketing products; shutdown update, incl. flood insurance setback; there are over 1,400 vendors?
• Wednesday, December 26 Dec. 26: MI jobs, marketing product; another mortgage settlement; shutdown update for lenders; rates are low cuz…
• Monday, December 24 Dec. 24: Rates go up, they go down; a deep dive into what is moving rates and deals being done by the Agencies
• Saturday, December 22 Dec. 22: Notes/news on the Flood Bill, current (ugh) lending environment, state laws, and LIBOR phase-out
• Friday, December 21 Dec. 21: AE, LO jobs; LO tools, loan defect report out; shutdown’s possible impact on lenders; Verus non-QM deal
• Thursday, December 20 Dec. 20: AE & LO jobs; subservicer, AMC, warehouse predictive products; vendor news; rate hike squeezing lenders and banks
• Wednesday, December 19 Dec. 19: LO jobs; vendor search & tech tools; lender M&A continues; global slowdown pushing U.S. rates
• Tuesday, December 18 Dec. 18: Co. for sale, LO jobs; MLO products; banks buying lenders and other banks, report on M&A
• Monday, December 17 Dec. 17: LO jobs; CRM, digital products; FHA & VA changes from Agencies & lenders across the nation
• Saturday, December 15 Dec. 15: AI mortgage predictions, borrowers who want to film transactions, First American & blockchain, the SEC & cybersecurity
• Friday, December 14 Dec. 14: AE, LO jobs; Full Eagle wanted; compliance, documentation products; loan amount changes in the primary markets
• Thursday, December 13 Dec. 13: LO jobs; digital products; books by lenders, for lenders, or about lenders; False Claims Act rears up; a fun quiz you should take
• Wednesday, December 12 Dec. 12: LO jobs, compliance personnel moves; non-QM & warehouse products; STRATMOR Tech Insight Study
• Tuesday, December 11 Dec. 11: LO jobs; LO training, CRM & recruiting products; December training still available; FHFA leadership conjecture
• Friday, December 7 Dec. 7: LO jobs; broker, non-del, warehouse products; vendor/service provider directory; yield curve primer
• Thursday, December 6 Dec. 6: LO, sales mgt. jobs, recruiting service; profitability products; New Penn re-branded; what is pushing rates lower
• Wednesday, December 5 Dec. 5: LO jobs, promotions; QC & fulfillment products, Alt-Doc webinar; recapitalize the Agencies?
• Tuesday, December 4 Dec. 4: LO & AE jobs; LO products; December events & training; servicing sale with CRA loans
• Monday, December 3 Dec. 3: LO & sales jobs, layoffs & promotions; sales, education products; bond market watching jobs & China
• Saturday, December 1 Dec. 1: DACA – lenders & investors decide residency; URLA/1003 questions for every MLO to ask
• Friday, November 30 Nov. 30: LO jobs; paper on fraud, construction product; FDIC & non-bank lending; the Fed to start watching OBFR instead of Fed Funds?
• Thursday, November 29 Nov. 29: LO, AE jobs; broker, fraud, subservicing products; training & events in the next 2 weeks; Fed speech moves rates
• Wednesday, November 28 Nov. 28: LO & mgt. jobs; non-QM product, construction webinar; lender and bank M&A going bonkers
• Tuesday, November 27 Nov. 27: AE & LO jobs; sales, branding, non-QM products; “don’t fight the Fed” when it comes to rates
• Monday, November 26 Nov. 26: LO & sales jobs; platform, origination, non-QM, LO products; U.S. economy continues to motor along
• Saturday, November 24 Nov. 24: Letters on Property Inspection Waivers, new phishing scam; state law changes & affordable housing fees
• Friday, November 23 Nov. 23: Agency jobs; Ginnie primer for MLOs; Freddie & Fannie deals continue, transferring risk
• Wednesday, November 21 Nov. 21: CEO, LO jobs; underwriting product, new non-del correspondent investor; lender disaster news
• Tuesday, November 20 Nov. 20: LO jobs & products; 1003 and CRM products; CRA req. study; world economies pushing US rates lower
• Monday, November 19 Nov. 19: LO jobs; HELOC, reno, LOS products; Lehman litigation webinar & other upcoming events and training
• Saturday, November 17 Nov. 17: The housing market with 5% rates; blockchain update; Grandma’s Thanksgiving letter
• Friday, November 16 Nov. 16: AE jobs; profitability and commission products; new products incl. HELOCs, servicing, digital…geocoding bid tapes!
• Thursday, November 15 Nov. 15: AE, QC, LO jobs; accounting, subservicing, warehouse products; Freddie & Fannie changes roll on
• Wednesday, November 14 Nov. 14: LO jobs; webinars for LOs; non-QM product; chatter on QM patch, MBS/UMBS; Agencies address languages
• Tuesday, November 13 Nov. 13: TPO, LO, account mgt. jobs; non-QM, construction products; training & events nationwide and at home
• Monday, November 12 Nov. 12: LO jobs; LOS, POS, compliance products; F&F’s future being bantered about, impacting borrowers
• Saturday, November 10 Nov. 10: Notes on the new 1003, the gov’t’s role in the credit crisis; state lending law changes coast to coast
• Friday, November 9 Nov. 9: AE & LO jobs; vendor & management products; F&F tonning it; LIBOR replacement news
• Thursday, November 8 Nov. 8: LO & AE jobs; construction & HELOC products; non-QM & sales webinars; Mr. Cooper PUF acquisition details
• Wednesday, November 7 Nov. 7: LO jobs; non-agency conduit; income & subservicer webinars; lender disaster news continues
• Tuesday, November 6 Election Day: Sales, LO jobs, recruiting, HELOC products; new conduit offering proprietary loans
• Monday, November 5 Nov. 5: AE, LO, warehouse jobs; capital markets products, S&D buyer; events & training around the nation
• Saturday, November 3 Nov. 3: Letters on Zillow’s event, VA IRRRLs, LO comp; California’s changing lender environment
• Friday, November 2 Nov. 2: LO, AE, sales mgt. jobs; warehouse, subservicing products; lender disaster news; non-QM securitization
• Thursday, November 1 Nov. 1: CFO, LO sales mgt., jobs; branding study; disaster advice & research; servicing package for sale
• Wednesday, October 31 Halloween: Sales & LO jobs; vendor M&A; what LOs should know about current rates & the economy
• Tuesday, October 30 Oct. 30: AE jobs; borrower satisfaction products; upcoming events span the nation; price compression with high rates
• Monday, October 29 Oct. 29: LO & corresp. jobs; compliance, broker, & app products; legal news from PrimeLending, BCFP, and Lehman – ugh
• Saturday, October 27 Oct. 27: Cybersecurity, password tips, two-factor authentication; blockchain legislation developments
• Friday, October 26 Oct. 26: AE jobs; corresp., health, CRM products; wide array of vendor news; more tariff worries pushing rates
• Thursday, October 25 Oct. 25: Sales jobs; underwriting, sales tools; subservicer product; credit union primer; legal news from IL
• Wednesday, October 24 Oct. 24: Sales, LO jobs, title opportunity; non-QM, tech, sales products; M&A continues; U.S. Bank correspondent re-org
• Tuesday, October 23 Oct. 23: Comp, technology, efficiency products; long list of credit changes around the biz turning heads
• Monday, October 22 Oct. 22: LO, construction lending jobs; broker, doc products; training & events; False Claims penalty
• Saturday, October 20 Oct. 20: Straight talk on lending environment; primer on manufactured housing: definitions, primary, secondary markets
• Friday, October 19 Oct. 19: Loan mod, LO jobs; data filter product; appraisal white paper & valuation news; cap mkts. products
• Thursday, October 18 Oct. 18: Service & sales jobs; HELOC & digital products; coast to coast upcoming events & training
• Wednesday, October 17 Oct. 17: LO jobs; digital, warehouse, self-employed UW products; appraisal & valuation updates
• Tuesday, October 16 Oct. 16: LO jobs, title co. opportunity; tech products run the gamut; Agency deals helping liquidity and risk transfer
• Monday, October 15 Oct. 15: LO jobs; digital products, new book for LOs; big bank mortgage earnings; M&A rolls on
• Saturday, October 13 Oct. 13: Compensation, margin compression, setting passwords & cybersecurity update; corny joke front-runner
• Friday, October 12 Oct. 12: AE & LO jobs; construction, acquisition/lease program; slicing & dicing Wells’ deal worth a read for LOs
• Thursday, October 11 Oct. 11: AE jobs; non-QM, digital, tech products; MSA compliance webinar; vendors raising money, partnering
• Wednesday, October 10 Oct. 10: LO jobs; warehouse and non-QM products; Agency appraisal & inspection changes; builder bear market
• Tuesday, October 9 Oct. 9: White paper on customer service, warehouse product; appraisal biz: the state of PIWs and outsourcing
• Monday, October 8 Oct. 8: AE, LO jobs, Chase cuts; reverse mortgage outsourcing & margin control products; training & events coming up
• Saturday, October 6 Oct. 6: Notes on the Lehman bankruptcy, Connecticut & closing parties; state lending law changes continue
• Friday, October 5 Oct. 5: LO, DTC jobs; broker, correspondent, digital products; promotions, layoffs, PE-owned lender closures
• Thursday, October 4 Oct. 4: LO jobs; correspondent, warehouse products; vendor changes & webinars; rates – should have locked Tuesday
• Wednesday, October 3 Oct. 3: LO jobs, personnel moves; warehouse & home owner products; OB/LoanDecisions deal; disaster updates
• Tuesday, October 2 Oct. 2: LO jobs; DPA, recruiting products; FHA 203(h), digital marketing, CFO, mortgage pricing events
• Monday, October 1 Oct. 1: LO & sales jobs; document & bank statement products; news from FHA and HUD
• Saturday, September 29 Sep. 29: Notes on rate direction, LO comp priorities, what California’s doing that impacts lenders
• Friday, September 28 Sep. 28: LO, AE jobs; CE, sales products; Ocwen/PHH update; Agency deals; why does extending a lock cost money?
• Thursday, September 27 Sep. 27: Underwriting, LO jobs; insurance, non-QM, underwriting products; bank M&A going crazy
• Wednesday, September 26 Sep. 26: AE, LO jobs; title agency for sale; non-QM products; borrower study results; Mel Watt to testify; cap. markets company changes
• Tuesday, September 25 Sep. 25: DTC, LO jobs; digital, QC products; lender M&A; fast approaching training & events Fannie mgt. note
• Monday, September 24 Sep. 24: LO, AE, corres. jobs; broker, DTC products; conventional conforming news incl. Wells’ LTV change; USAA layoffs
• Saturday, September 22 Sep. 22: Letters & notes about regulatory enforcement, weed, cost cutting, state-level lending law changes
• Friday, September 21 Sep. 21: LO, AE jobs; fulfillment, investor products; mortgage fraud paper; Wells, PUF, BMO Harris personnel changes
• Thursday, September 20 Sep. 20: Sales & LO jobs; vendor mgt. & POS products; upcoming events; Ask a Lender’s sunset?
• Wednesday, September 19 Sep. 19: LO, reverse jobs; new correspondent investor; direct streaming Treasury trading; what is moving rates
• Tuesday, September 18 Sep. 18: LO jobs; down payment, broker, sales products; lender & agency Florence updates continue
• Monday, September 17 Sep. 17: MI, LO jobs; notary product, new correspondent lender; events & training remaining in September
• Saturday, September 15 Sep. 15: Letters about risk, M&A and controlling costs; state-level lending law changes roll on
• Friday, September 14 Sep. 14: Cap. mkts, AE, LO jobs; trailing doc, tax, reverse products; vendor news; new lender programs
• Thursday, September 13 Sep. 13: Marketing, bank statement, broker HELOC products; originator events; Agency & lender disaster updates
• Wednesday, September 12 Sep. 12: LO jobs; non-QM & marketing products; non-QM & eSummons training; lenders’ disaster plans & reactions
• Tuesday, September 11 Sep. 11: Controller, warehouse, LO jobs; warehouse product; servicing sale; residential co. moves; conventional/conf. news
• Monday, September 10 Sep. 10: LO jobs; app product; upcoming training & events in-person & on-line; Fed officials weigh in on rates
• Saturday, September 8 Sep. 8: Reader’s notes on being an LO, Realtors, the importance of compliance, cyber insurance, and ownership
• Friday, September 7 Sep. 7: AE, LO, Ops jobs; non-QM, investment property products; ARM news; tax & fee trends
• Thursday, September 6 Sep. 6: LO & sales jobs; construction loan product; Freddie & Fannie aren’t sitting still; LIBOR phase-out update
• Wednesday, September 5 Sep. 5: AE, LO jobs; referral product; broker & LO events; IMB tax letter; vendor news – blockchain & deeds
• Tuesday, September 4 Sep. 4: Controller, sales jobs; home equity & recruiting products; upcoming events incl. interview with industry icon
• Saturday, September 1 Sep. 1: Notes about digital mortgages, blockchain, cybersecurity & insurance; state-level lending law trends
• Friday, August 31 Aug. 31: LO jobs; MI, warehouse, broker products; mortgage fraud protection trends & training
• Thursday, August 30 Aug. 30: LO jobs, DTC product; broker, CEO events; hedging firms making moves; cap markets update
• Wednesday, August 29 Aug. 29: LO, AE, sales jobs; new products & credit guidelines – non-QM, ITIN, NIVA, low down payment…
• Tuesday, August 28 Aug. 28: Non-QM, recruiting, training products; servicing developments – who’s doing what
• Monday, August 27 Aug. 27: LO & sales jobs; broker product; servicing buyers & sellers wanted; lender events & training
• Saturday, August 25 Aug. 25: Letters from the trenches on LO comp, LO role, rules & regulations – don’t let them disappear
• Friday, August 24 Aug. 24: LO, sales, vendor jobs; CE & training products; huge range of deals & corporate moves, rumored and real
• Thursday, August 23 Aug. 23: MI, LO jobs; originator webinars today; IT and vendor updates – STRATMOR survey results
• Wednesday, August 22 Aug. 22: LO, AE jobs; subservicer review & lead gen products; note on Chenoa; upcoming training & events
• Tuesday, August 21 Aug. 21: LO & Ops jobs; LO & customer retention products; conventional/conforming updates around the biz
• Monday, August 20 Aug. 20: LO jobs, digital products; corporate moves, name changes, gov’t-owned banks; M&A – Amazon & Marriott deal
• Saturday, August 18 Aug. 18: Interesting letters on Fannie’s policy, regulations, LO licensing, credit changes, and M&A vs. LO comp
• Friday, August 17 Aug. 17: Agency jobs; Employee survey; Flagstar/Fed news; FHA, VA, Ginnie program updates; new lender products
• Thursday, August 16 Aug. 16: LO jobs; trailing doc and non-QM products; tech & vendor updates; white paper on reasons for margin compression
• Wednesday, August 15 Aug. 15: AE, LO jobs; fulfillment, non-QM products; corporate name changes; in MBS Land, what is a Mirror Security?
• Tuesday, August 14 Aug. 14: LO jobs; warehouse, new bankruptcy products; remote training this week; Agency changes continue
• Monday, August 13 Aug. 13: Subservicing, LO comp, non-QM products; Agencies active in capital markets
• Saturday, August 11 Aug. 11: Readers weigh in on Zillow’s acquisition, Realtors being LOs and vice versa
• Friday, August 10 Aug. 10: LO & AE jobs, AMC opportunity, corresp. product; corp. structure changes – M&A going bonkers
• Thursday, August 9 Aug. 9: LO jobs, promotions, capital raises; wire fraud & training products; Zillow/MLOA Q&A; rates treading water
• Wednesday, August 8 Aug. 8: Ops, AE, LO jobs; digital, LOS products, 1003 products; Q&A on Zillow/MLOA deal; misc. product & UW updates
• Tuesday, August 7 Aug. 7: Ops, AE, LO jobs; recruiting, digital products; training & events; Zillow to acquire Kansas’ MLOA
• Monday, August 6 Aug. 6: Business opportunities; subservicer product; conv. conforming changes from lenders & investors everywhere
• Saturday, August 4 Aug. 4: A couple random notes (pretty quiet out there); state lending law changes continue – the MBA weighs in
• Friday, August 3 Aug. 3: LO, AE, Bus. Dev. jobs, doc product; jumbo & Alt product trends; AOT product; yield curve update
• Thursday, August 2 Aug. 2: Sales, marketing jobs; reno, non-QM products; Wells settlement; more decent economic news
• Wednesday, August 1 Aug. 1: broker opportunity, LO jobs; digital & tech news – a blockchain mortgage in China; FAMC & Nationstar updates
• Tuesday, July 31 July 31: Recruiting, MD & DDS, non-QM, digital products; legal news and lawsuits; layoffs & promotions continue
• Monday, July 30 July 30: LO jobs; leads, subservicer, bank statement programs; upcoming events; a look at the economy
• Saturday, July 28 July 28: Weed & lending; lending law changes from the Heartland; the investigation of FHFA’s Mel Watt
• Friday, July 27 July 27: FHA, LO, Ops jobs, AI product; price, fee, lock changes from around the biz; Libor update
• Thursday, July 26 July 26: LO & Ops jobs, construction process risk product; blockchain primer; lender tech rollouts
• Wednesday, July 25 July 25: LO, AE jobs, non-QM and e-recording products; Fannie/Freddie/conforming/conventional news
• Tuesday, July 24 July 24: LO jobs; non-QM, 4506-T, tech, digital, & sales products; rates edge higher on speculation
• Monday, July 23 July 23: LO jobs, bus. opportunity, home equity & JV products; upcoming events; credit-based lender changes
• Saturday, July 21 July 21: State-level legal lending changes – they keep coming; AI, blockchain, and cyberattacks
• Friday, July 20 July 20: LO jobs, POS product; flood, volcano, hurricane, and disaster news and lender updates
• Thursday, July 19 July 19: LO, corresp. jobs; jumbo & mfg. products; LO training & conferences; teams with different comp plans?
• Wednesday, July 18 July 18: LO & AE jobs, pricing, efficiency, & operations products; California DRE changes
• Tuesday, July 17 July 17: Teams looking for homes, AE & LO jobs; sales & broker products; Freddie & Fannie updates
• Monday, July 16 July 16: Ops & LO jobs; broker & POS products; blockchain transaction; input on DACA loans
• Saturday, July 14 July 14: Readers address the yield curve’s relevance, the single security platform, and ATR vs. subprime
• Friday, July 13 July 13: LO jobs; construction, warehouse products; free LO comp webinar; shifting UW criteria
• Thursday, July 12 July 12: MI, AE, LO, sales mgt. jobs; UW & API products; FHA/VA/Ginnie updates – incl. EAD/DACA policy
• Wednesday, July 11 July 11: Non-QM, lead conversion, & TPO products; Home Point/Northpointe, OB/Resitrader deals
• Tuesday, July 10 July 10: AE jobs; LO events, training & recruiting products; banking news and M&A; loan financing needed
• Monday, July 9 July 9: LO, mgt. jobs; HECM, JV products; events & webinars for lenders; BFCP/CFPB updates – lawsuit dropped
• Saturday, July 7 July 7: Letters about the competitive environment, Texas real estate, and subprime making a comeback
• Friday, July 6 July 6: State-level investor changes – lending law tweaks in states that start with “M”; economics moving rates
• Thursday, July 5 July 5: LO culture; securitizations and Agency risk transfers continue to change capital markets
• Tuesday, July 3 July 3: Sales jobs; digital and accounting products; lenders shifting tactics; loan closing technology & UCD news
• Monday, July 2 July 2: General lending environment trends; Certainty Partners with Stearns Lending; July events & training; what is moving rates and why
• Saturday, June 30 June 30: Letters on state credit & privacy law changes, fraud, borrower rebates, Zillow and the CFPB/BCFP
• Friday, June 29 June 29: Sales and management jobs; tax and MI products; sample of vendor updates; hedging long term locks
• Thursday, June 28 June 28: AE, Ops, LO jobs; warehouse and marketing products; Union buys NOIC/Concord; lender legal changes out West
• Wednesday, June 27 June 27: LO jobs, non-QM and investment property products; lender and bank M&A going crazy – why?
• Tuesday, June 26 June 26: LO & AE jobs, secondary & mkting products; capital raise; FHA, VA, HUD, USDA, Ginnie news
• Monday, June 25 June 25: LO jobs, broker & HR products; Wells’ layoffs; CRA survey; upcoming events & training; jumbo news
• Saturday, June 23 June 23: Notes about trigger leads, being rate shopped, LOs adding value, branch managers; bitcoin update
• Friday, June 22 June 22: LO, capital markets jobs; CRM, coaching products; GSE chatter – another government plan; lender F&F changes
• Thursday, June 21 June 21: System admin & LO jobs; doc & 1003 products; online review survey; lender credit guideline shifts
• Wednesday, June 20 June 20: LO jobs; credit scoring & HR products; Freddie & Fannie – never standing still
• Tuesday, June 19 June 19: LO jobs; sales & broker products; interesting upcoming training & events; trade turmoil pushing rates
• Monday, June 18 June 18: Sales & servicing jobs; compliance, construction products; Atlantic states legal changes for lenders
• Saturday, June 16 June 16: Notes on transitional licensing, recruiting tips, LO comp, and trigger leads
• Friday, June 15 June 15: Compliance, fraud prevention products; lender M&A and cutbacks; lenders’ digital notes & closings
• Thursday, June 14 June 14: LO jobs; construction, digital marketing products; Freddie & Fannie secondary activity picks up
• Wednesday, June 13 June 13: LO jobs, data, LO sales products; lender events; primer on inflation and what the Fed’s been saying about rates
• Tuesday, June 12 June 12: Processing, warehouse, non-QM products; upcoming training; another lender bought – why bank M&A is picking up
• Monday, June 11 June 11: DTC & LO jobs; the ever-changing world of private mortgage insurance
• Saturday, June 9 June 9: Robo-calls, travel scams, phishing, spearphishing, bitcoins, blockchain – it’s a tech jungle out there!
• Friday, June 8 June 8: Warehouse, LO, Ops jobs, comp, underwriting, accounting products; F&F continue to shift risk
• Thursday, June 7 June 7: LO & AE jobs, 1003 & fraud products; upcoming events, training, & webinars; lender M&A
• Wednesday, June 6 June 6: LO jobs, escrow, warehouse, retention products; bank & lender M&A; Freddie & Fannie primary market changes
• Tuesday, June 5 June 5: LO jobs, construction, broker, & recruiting products; various pricing & lock policy changes
• Monday, June 4 June 4: Sales jobs of all types; down payment info; Ginnie, FHA, VA news in the primary & secondary markets
• Saturday, June 2 June 2: Reader’s letters on diversity, Ginnie Mae’s actions, and the role of the LO
• Friday, June 1 June 1: Reverse co. available, FHA portfolio case study; industry layoffs; Ginnie Mae changes & the resulting confusion
• Thursday, May 31 May 31: LO & hedging jobs, wholesale group, DTC product; Franklin American purchased; credit box changes; STRATMOR on profitability
• Wednesday, May 30 May 30: Bus. Dev., LO jobs; non-QM & digital products; what to know about global events driving our capital markets
• Tuesday, May 29 May 29: LO & AE jobs; cap. mkts. & LO products; servicing pool for bid; upcoming events & training; Italian news driving rates
• Saturday, May 26 May 26: Letters regarding the future of the LO, technology & borrowers, pros and cons of S. 2155 signed this week
• Friday, May 25 May 25: MI, AE jobs; jumbo, non-QM, ARM lender & investor trends and changes
• Thursday, May 24 May 24: LO, AE, Ops, risk jobs; tech & broker products; upcoming events; financial services partnerships & acquisitions
• Wednesday, May 23 May 23: MI job, vendor partnerships; lender products; Congress’ take on TILA, VA IRRRLs, PACE loans, & MLO licensing
• Tuesday, May 22 May 22: LO jobs, bus. opportunities; lender products; state-level changes; does the yield curve matter?
• Monday, May 21 May 21: AE & MI jobs, digital & capital markets products; Regions exits correspondent, bank M&A rolls on
• Saturday, May 19 May 19: Reader’s notes on shipping container homes; bitcoins for down payments, blockchain in cap mkts., Nor Cal market
• Friday, May 18 May 18: LO jobs; subservicing, compliance, warehouse, S&D products; private mortgage insurance trends
• Thursday, May 17 May 17: LO jobs, bus. opportunity; construction & VA rehab products; FHA & lender disaster news; economy solid
• Wednesday, May 16 May 16: MI, sales, LO jobs; construction, non-QM products; MI program developments & lender MI changes
• Tuesday, May 15 May 15: LO jobs, coaching, warehouse, marketing products; training on underwriting, compliance, business income, and agency products
• Monday, May 14 May 14: LO jobs, subservicer review & marketing products; Union Home & Alliance deal; reverse mortgage changes
• Saturday, May 12 May 12: Reader’s thoughts on expenses, blockchain, AI, stopping phishing & trigger leads; Goldman & Apple’s credit card
• Friday, May 11 May 11: Sales mgt., LO, AE jobs; companies wanted; HECM product; lender disaster news; U.S. economy advancing
• Thursday, May 10 May 10: Ops, capital markets, senior sales jobs, construction-to-perm product; M&A and repurchase webinars
• Wednesday, May 9 May 9: LO, non-QM AE jobs, time mgt. webinar; ARM, condo, FHA/VA, manufactured lender trends
• Tuesday, May 8 May 8: LO training, recruiting, JV, capital markets products; non-QM issuance; Freddie extending credit to non-banks?
• Monday, May 7 May 7: Sales jobs coast to coast; upcoming events incl. marketing boot camp; LIBOR update; economy readings solid
• Saturday, May 5 May 5: Letters from readers on margins, AE comp, broker biz, underwriter-LO relationship, immigrants
• Friday, May 4 May 4: Warehouse & LO jobs, non-agency program; Mutual of Omaha/Synergy One deal; Howard Bank ends DTC
• Thursday, May 3 May 3: Sales mgt. & LO jobs, loan trading platform; Fannie’s earnings & conforming updates, incl. 3% down program
• Wednesday, May 2 May 2: Correspondent & compliance jobs, TPO product; builder CEO comp; state-level changes
• Tuesday, May 1 May 1: Corresp. & LO jobs, broker & recruiting products; mergers & acquisitions continue
• Monday, April 30 Apr. 30: Ops, MI, LO jobs, MI & jumbo products; FHA, VA, and Ginnie news; rates take a breather
• Saturday, April 28 Apr. 28: Note on mortgage languages, LO advice in a purchase market, credit unions; tech update – Chase’s blockchain security
• Friday, April 27 Apr. 27: LO & AE jobs; promotions, news on critical defects; Two Harbors’ purchase; May & beyond training & webinars
• Thursday, April 26 Apr. 26: MI job, productivity & marketing products; lender operational changes; change ATR & QM? Not so fast…
• Wednesday, April 25 Apr. 25: 1003, expense control, marketing products, LO jobs; digital trends; Amazon’s blockchain product
• Tuesday, April 24 Apr. 24: Default opening, TPO & secondary products; lender data breach; STRATMOR on cost cutting; new LIBOR sub
• Monday, April 23 Apr. 23: Sales, warehouse, servicing jobs; events & webinars; GDP primer – rates at 2014 levels
• Saturday, April 21 Apr. 21: Notes on jumbo comp and comp structures, loan language, and servicing – hold or sell and why?
• Friday, April 20 Apr. 20: Ops, LO jobs, 1003 product; MBA’s compliance accreditation; Freddie & Fannie changes continue
• Thursday, April 19 Apr. 19: Sales jobs, new lender products; Freddie and Fannie changes continue, as do rates moving higher
• Wednesday, April 18 Apr. 18: Sales jobs; TPO & warehouse products; great training opportunities this week and next
• Tuesday, April 17 Mar. 5: Ops, sales, & mgt. jobs, servicing sale; new lender products; upcoming training; LIBOR update
• Tuesday, April 17 Apr. 17: AE jobs, broker & lender AUS & CRM products; servicing update – where are values & why?
• Monday, April 16 Apr. 16: LO & AE jobs, secondary & construction execs searching; Chase’s demand letters; Zillow’s doing what?
• Saturday, April 14 Apr. 14: Readers notes on appraisal trends, affordability, production costs, and competition
• Friday, April 13 Apr. 13: LO jobs, tech products, eNote news, Freddie Cloudvirga project; MB Financial bails & sails
• Thursday, April 12 Apr. 12: LO, AE, reno jobs, cyber training & data security workshop; Nationstar documentation penalty
• Wednesday, April 11 Apr. 11: Ops, LO, & AE jobs, construction product; non-profit exec searching; tax guideline changes from lenders
• Tuesday, April 10 Apr. 10: LO events & training, lender products, LO & AE jobs; state-level lender & servicer changes
• Monday, April 9 Apr. 9: Sales jobs; upcoming events & training around the nation; sample of new retail lending products
• Saturday, April 7 Apr. 7: Notes lending disparity; cybersecurity – blockchain a solution looking for a problem?
• Friday, April 6 Apr. 6: Sales jobs, Encompass & subservicer products; jumbo, non-QM, non-prime, ARM news; comp survey
• Thursday, April 5 Apr. 5: Ops & LO jobs, cyber certification & compliance products; FHA & VA programs in the news; harsh OIG report
• Wednesday, April 4 Apr. 4: Referral & disclosure products, sales jobs coast to coast; down payment & LTV shifts and trends
• Tuesday, April 3 Apr. 3: Sales jobs, recruiting tool, plenty of promotions; upcoming events of note; LIBOR update
• Monday, April 2 Apr. 2: Sales jobs & events; state law changes for lenders & servicers; what LOs should know about the economy & rates
• Saturday, March 31 Mar. 31: Vendors at play
• Friday, March 30 Mar. 30: LO & sales jobs, branches wanted, new products; New Penn/Envoy deal; Barclays settles; RESPA & credit union lawsuit news
• Thursday, March 29 Mar. 29: Ops jobs & promotions, recruiting & workflow products; Agency news; MPF & loanDepot in the capital markets
• Wednesday, March 28 Mar. 28: Sales jobs; warehouse & sales products; appraisal news – Utah sinkholes, FHFA addresses AMC’s value & quality
• Tuesday, March 27 Mar. 27: LO jobs, broker & LO products; upcoming training & events; joint venture legal case of note for lenders
• Monday, March 26 Mar. 26: AE jobs, fraud & sales webinars, promotions; bank news incl. Basel update; Essent bond issuance
• Saturday, March 24 Mar. 24: Gender study survey; notes about $0 money down, MI biz, blockchain, and LO comp criteria
• Friday, March 23 Mar. 23: Controller & LO jobs, digital lender & vendor products; update on vendors; rates edge higher
• Thursday, March 22 Mar. 22: AE & LO jobs, down pmt. insurance product; trends in servicing sales; state’s $0 down payment offer
• Wednesday, March 21 Mar. 21: LO, servicing, lock desk jobs, LO & sales products; training & events; don’t bet against the Fed
• Tuesday, March 20 Mar. 20: LO & AE jobs, business opportunities; title co. M&A; state changes impacting lenders & banks
• Monday, March 19 Mar. 19: AE & LO jobs nationwide, tax & sales products; M&A continues; Fed meeting this week
• Saturday, March 17 Mar. 17: LO survey results; notes of advice for women, minorities, and rookies in the biz
• Friday, March 16 Mar. 16: LO & AE jobs, broker products, management changes; new securitization; the economics moving bond markets
• Thursday, March 15 Mar. 15: QC, bus. development, and sales jobs; conventional conforming changes in the primary markets
• Wednesday, March 14 Mar. 14: Sales jobs across the nation; advice for those new to the industry; economy continues to move forward
• Tuesday, March 13 Mar. 13: Sales positions; reverse, LO, & capital markets products; upcoming training & events
• Monday, March 12 Mar. 12: Corres. news, comp. products, sales workshops; reports on nonbank lending and lending technology; Amazon Mortgage?
• Saturday, March 10 Mar. 10: Notes on legal news, blockchain, LO preparedness, compensation; bidding on MI rates
• Friday, March 9 Mar. 9: Products, business opportunities; FHA & VA updates; U.S. economy continues to strengthen
• Thursday, March 8 Mar. 8: LO jobs, new products for lenders; conferences & training on marketing, VA lending, the PHH case, etc.
• Wednesday, March 7 Mar. 7: AE & LO jobs, business opportunities; ATR survey; FGMC cuts wholesale; RBS settles with NY
• Tuesday, March 6 Mar. 6: Sales & Ops jobs, down payment & recruiting programs; conforming changes; the economy’s picking up speed
• Monday, March 5
• Saturday, March 3 Mar. 3: Notes & opinions on cybersecurity, HMDA concerns, and tips for a rising rate environment
• Friday, March 2 Mar. 2: AE & LO jobs, wholesale & corres. opportunities; Freddie & Fannie program & guideline changes
• Thursday, March 1 Mar. 1: Sales jobs, builder product; legal news & settlements; government personnel shifts worth noting
• Wednesday, February 28 Feb. 28: Correspondent AE jobs, company news; Ocwen-PHH; changes to fees, pricing, and lock policies around the biz
• Tuesday, February 27 Feb. 27: LO jobs, reverse training; LO comp survey; lender and bank M&A continues; Powell: more short term rate hikes
• Monday, February 26 Feb. 26: Ops mgt. & LO jobs; servicing package offered; upcoming events & sales workshops
• Saturday, February 24 Feb. 24: Notes on the continued impact of the tax plan, and flawed racial bias lending reporting
• Friday, February 23 Feb. 23: AE & LO jobs, new jumbo product; reverse mortgage and USDA/rural program news; economics & rates
• Thursday, February 22 Feb. 22: Correspondent & LO jobs; upcoming training; economy continues to move rates higher
• Wednesday, February 21 Feb. 21: LO jobs, new products, layoffs; Flagstar’s expansion; news about Freddie & Fannie
• Tuesday, February 20 Feb. 20: Sales jobs, large and small, new products, expansion; legal & political updates – gfee chatter
• Saturday, February 17 Feb. 17: Notes on AIME, cybersecurity site, free phishing test, site for tracking breaches; some HELOCs still tax deductible
• Friday, February 16 Feb. 16: LO & secondary jobs, subservicing product; tax changes’ impact on the business; LOs & attending closings
• Thursday, February 15 Feb. 15: LO jobs, new programs & products; ARM & jumbo changes; upcoming events & training
• Wednesday, February 14 Feb. 14: LO jobs, LO products; new association in the biz; upcoming training; Radian changes; Flagstar’s Ginnie response
• Tuesday, February 13 Feb. 13: LO jobs, new products; Mr. Cooper has a new foster parent; capital market products; why LOs should care about the budget
• Monday, February 12 Feb. 12: AE, LO jobs, new products; layoffs & signing bonuses, productivity & margins – grim times ahead?
• Saturday, February 10 Feb. 10: Notes on blockchain, selling leads, churning FHA & VA borrowers; a primer on how mortgage pricing works
• Friday, February 9 Feb. 9: LO jobs, new products incl. mortgage cryptocurrency; lender & Agency FHA & VA changes; Ginnie names names
• Thursday, February 8 Feb. 8: Servicing, AE, LO jobs; upcoming events and conferences on origination, secondary, cybersecurity, M&A, etc.
• Wednesday, February 7 Feb. 7: Sales, LO, & underwriting jobs, VA boot camp; Fannie & Freddie guideline, ULDD, & process changes
• Tuesday, February 6 Feb. 6: Capital markets job, construction, vendor mgt., recruiting products; compliance & Dodd-Frank notes
• Monday, February 5 Feb. 5: MI & LO jobs, comp software; bank branch trends and different outlooks for Chase & Wells; Walter Investment turmoil
• Saturday, February 3 Feb. 3: CFPB firestorm – changes to enforcement powers, notes from a range of experts & attorneys on the court ruling
• Friday, February 2 Feb. 2: Subservicing product, LO & senior management jobs; CRA trends; homeowner’s insurance & title news
• Thursday, February 1 Feb. 1: Sales jobs around the nation, business opportunities; the CFPB ruling’s takeaways for lenders
• Wednesday, January 31 Jan. 31: National sales jobs, lender products; comp survey; upcoming events; DOJ & Eagle Home; compliance “fun” with CRMs
• Tuesday, January 30 Jan. 30: Senior Ops job, LO & broker products; Ginnie, FHA, VA news impacting the primary & secondary markets
• Monday, January 29 Jan. 29: AE & bus. dev. jobs; IL & NY population decline & other state news; strong U.S. economy moving rates
• Saturday, January 27 Jan. 27: Notes on the Eagles & lending, credit scoring news, and the brawl about BRAWL
• Friday, January 26 Jan. 26: Correspondent Manager & LO jobs; FHA & VA updates; advice for those new to the biz
• Thursday, January 25 Jan. 25: National sales jobs, business opportunities, down payment study; the “new” CFPB; solid housing & lending stats
• Wednesday, January 24 Jan. 24: LO & business dev. jobs; new products; bank lending trends and M&A – fintech & CUs jostling
• Tuesday, January 23 Jan. 23: LO & AE jobs, new lender products; upcoming events & training; top LOs fund how many loans per month?
• Monday, January 22 Jan. 22: LO jobs, reverse training, note on culture; disaster updates; jumbo trends; reverse mtg. securitization
• Saturday, January 20 Jan. 20: Tiny home underwriting, blockchain & MBS, cryptocurrency volatility, digital mortgages, the govt’s shutdown & lending
• Friday, January 19 Jan. 19: LO jobs & new products; report from NEXT; lender & investor Freddie & Fannie changes roll on
• Thursday, January 18 Jan. 18: MI & LO jobs, servicing for sale; upcoming conferences & training; conventional conforming changes
• Wednesday, January 17 Jan. 17: Bus. Dev., LO, sales jobs; upcoming events; Freddie & Fannie changes – Single Security moving forward
• Tuesday, January 16 Jan. 16: New products, Citi & digital; natural disasters & compare ratios; Q3 performance and fee changes
• Monday, January 15 Jan. 15: LO jobs, borrower satisfaction tool; vendor updates; more bank fines over servicing flaws
• Saturday, January 13 Jan. 13: Notes about 2018 & conferences; site for reporting cybercrime, and a tale of fraud from the closing table
• Friday, January 12 Jan. 12: Bus. opportunity, LO jobs, personnel moves; Guild to buy Cornerstone; broker news – Penny’s in
• Thursday, January 11 Jan. 11: Bus. opportunity, Ops & AE jobs; LIBOR replacements; a primer on what is moving mortgage rates
• Wednesday, January 10 Jan. 10: Correspondent job, lender products; reverse to forward, LOs to CFOs, CA to NY, webinars & conferences run the gamut
• Tuesday, January 9 Jan. 9: Sales management & LO jobs, new branding, products; servicing rankings & news; rates edging up
• Monday, January 8 Jan. 8: AE, LO jobs, lenders wanted; this week’s training & events; vendor, lender, & bank M&A – what’s driving it?
• Saturday, January 6 Jan. 6, 2018: Brazen blitz of BRAWL, bitcoin, & blockchain blurbs
• Friday, January 5 Jan. 5: Bus Dev., LO jobs, new correspondent program; credit underwriting changes in the primary markets
• Thursday, January 4 Jan. 4: Correspondent news, personnel moves; loanDepot’s builder partnership; settlement & legal info
• Wednesday, January 3 Jan. 3: Lender & LO products; from OR & CA through OH & TX to NJ, recent state lending law changes
• Tuesday, January 2 Jan. 2: Servicing, AE jobs, recruiting product; HELOC & 2nd news; training; SIFMA rate forecast; tax court ruling for brokers – ouch!