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 are always riddles and surprises out there (find the heart), but one is not originators helping borrowers create wealth through leverage and tax savings. Lenders are, in one sense, in the business of creating wealth. Whether it is helping someone buy a home that will appreciate over the long term, or helping them save money through equity or on taxes. Rates have moved higher, as we knew they would. But there’s still $10 trillion in untapped, much of it tappable equity in the U.S. Housing Market. Some estimates suggest $5 trillion since the pandemic began. Not all this can be converted to cash or used to pay off debt, of course. Credit card debt is back above $1 trillion as stimulus checks have dried up. Delinquencies are down, active foreclosures are down. It is still a great time to be in our business! (Today’s audio version of the commentary is available here brought to you by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender. Today’s includes an interview with Curinos’ John Sayre on recent industry trends in ARMs, jumbo loans, and HELOCs/cash-out refinances.) Broker and Lender Services and Products “Northpointe Bank Warehouse Lending is pleased to announce our new integration with ICE Mortgage Technology’sTM Encompass Loan Origination System (LOS). Loan delivery from the Encompass pipeline to Northpointe will allow our clients to fund loans without navigating outside the LOS and automates the receipt of data elements and documents uniformly. Northpointe Bank has always maintained a strong focus on technology, which helps to enhance our partnerships with lenders and stay ahead of the fast-moving improvements to our industry. With this in mind, Northpointe Bank Correspondent Lending is rolling out an Encompass Investor Connect integration in the second quarter. Northpointe’s Warehouse Program was developed to reach all segments of the mortgage industry. We are a true relationship lender focused on assisting clients seeking their first facility, a replacement facility, or just in need of additional capacity. For more information on Northpointe Bank Warehouse Lending, contact Ashley Lockaby, Director of Warehouse Lending.”
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