IT, AE Jobs; Jumbo, Origination, Productivity Tools; Thoughts on the CFPB Nominee; Training and Events Jan 19 2021, 7:56AM
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 servicers are much more cognizant of rules and regulations than we were 12-14 years ago, along with requiring that borrowers have the ability to repay a loan. President-elect Joe Biden will nominate Rohit Chopra to be the next director of the Consumer Financial Protection Bureau. He is a strong consumer advocate, aligned with Senator Elizabeth Warren, lifelong friend of banks everywhere. (Snort.) There is value provided to consumers by the CFPB, and we’ll see a lot of that in the next four years. Individuals and companies are hard at work finding value out there, whether it is uncovering borrowers with high rates to refinance or investment banks finding v
Warehouse, Sales Jobs; Digital, AMC, Pricing Tools; Comp Survey; Cap. Markets, Broker Products Jan 14 2021, 8:28AM
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 AC DC. Wells Fargo’s stock price is up 60 percent since late Halloween… that’s money! Some are curious about bitcoin, with proponents saying it is the worldwide currency of the future while critics say… well, the list of what critics say is too long for this lead paragraph. But I found this article titled, “Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes” fascinating. “Bitcoin owners are getting rich because the cryptocurrency has soared. But what happens when you can’t access that wealth because you forgot the password to your digital wallet?” Like Stefan who has two password tries left to access $220 million, otherwise being locked out of i
Compliance, MLO, AE, Ops Jobs; Appraisal, Profitability Tools; Upcoming Events; Rates Creep Higher: Why? Jan 7 2021, 8:33AM
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, lenders everywhere have their eyes on the horizon. One grizzled industry “Eeyore” emailed, “Every time I see headlines and reporting about giddy mortgage profitability and companies going public in the best year ever, I remember that Liz Warren is still in the Senate, Joe Biden wants to tax the rich, and the fate of Fannie and Freddie remain uncertain and subject to government action. After COVID struck the industry with March’s capital markets gyrations, the Fed’s action to flood the market with liquidity turned what was going to be a disastrous year into the best of all time. Another word for the Fed’s action is a government ‘s