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Stronghill Capital Expands into Residential Lending with New Co-President Dustin Wells

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 business. Thank you to Julie W. who sent, “Why So Many COVID Predictions Were Wrong.” We all knew rates would move higher, but not at this pace. And companies have reacted. Layoffs, reductions in force, cutbacks, whatever the politically correct term is these days, are not confined to lenders. Blend made headlines last week with its layoffs. (Resumes for those displaced can be posted here for free.) The drop in volume has allowed companies to focus on cutting costs and maximizing hedging performance and secondary marketing execution. Along those lines, today’s podcast, available here, features an interview Eric Connors, SVP of Product Strategy and Management at ICE Mortgage Technology, on the ICE futures contracts. This week’s is sponsored by

LO Webinars & Training; LLPA Changes & Condo News; Continuing Ed 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 and lenders can’t do anything about rates or the market’s servicing values, but they certainly can do something about technology and cost savings. (Speaking of savings, a friend of mine was fond of saying, “’Free’ is a good price, and you and me and other taxpayers are footing the bill for free COVID tests; all you have to do is ask.) During a recent STRATMOR workshop session, I heard Partner Jim Cameron state, “Outsourcing is the gateway drug to automation.” Every 18 or so months, computer processing speed doubles, an observation known as Moore's law. A complaint that I hear from lender CEOs and owners is that AEs and LOs don’t even know what technology is available to them. “Educate yourselves on what’s available and then we&#x

Community Lending, 1099, Compensation, NOO, Non-QM products; Government Loan Program Changes

Community Lending, 1099, Compensation, NOO, Non-QM products; Government Loan Program Changes
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Cap Mkts , MLO, AE, Ops Jobs; Loan Sales, Pricing, Tax Estimating Products; Is the Fed Contributing to Housing Price Escalation?

Cap. Mkts., MLO, AE, Ops Jobs; Loan Sales, Pricing, Tax Estimating Products; Is the Fed Contributing to Housing Price Escalation? May 27 2021, 8:29AM 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 like, “I am an apex predator, open the door. Now.” Economists are quick to point out that while there is no shortage of jobs in our economy, there is a shortage of people who want to return to work because many of them are making more on unemployment. But it is doubtful that they are happier. Foster and Hicks wrote a book titled, “How We Choose To Be Happy: The 9 Choices of Extremely Happy People, Their Secrets, Their Stories” worth a gander, and collecting unemployment versus making a contribution isn’t on the list. Being healthy is on the list, but… dang it! I didn’t have a chance to go the gym yesterday. That makes five years in a row. Bu

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