“I’m not a fan of elevator music. It’s bad on so many levels.” Whether or not you think that the environment and value of owning stock in lenders and vendors has been “bad” over the last year or two, it certainly has been dicey. If you want to “be long” lenders or other mortgage-related companies, you could put some of your hard-earned savings into RKT, ICE, GHLD, UWMC, HMPT, LDI, PMT, FOA, or COOP. Now you’ll have a new vehicle: BETR. Yes, Better.com is going public, in what many would term a “challenging” environment. In a combination of stock market news, along with the reminder that making predictions about markets is like throwing darts, an ETF that was started on March 1, 2023 to track Jim Cramer’s stock picks has only garnered $1.3 million in assets and is closing. Maybe this is the free market saying that Jim Cramer is full of fluff and no value. (Today’s podcast can be found here and this week’s is sponsored by PHH Mortgage. For over 30 years, PHH Mortgage has provided industry-leading mortgage services and helped countless homebuyers and homeowners find financing solutions to meet their needs.) Lender and Broker Software and Services Are you attending IMN’s 6th Annual NPL, Notes & Default Servicing Forum in September? If so, be sure to check out the session “How Do You Determine the Pricing of Distressed Deals?” where Velocity Servicing’s President, Matt Stadler, will be moderating! During this session, Matt will lead panelists through the nuances of pricing distressed loans, including the following: Where are distressed deals coming from, and how can you source them? What impacts are inflation and interest rates having on distressed product pricing? What factors determine the pricing of distressed deals? Important due diligence factors to consider when pricing. And more! If you are interested in scheduling time to meet with Matt during the conference, contact matt.stadler@loancare.com. Click to learn more or call today at 646-361-6808 to partner with Velocity Servicing™, a LoanCare® division, for your specialty servicing needs.