Sales Mgt., MLO Jobs; Processing, FHA, Efficiency, Video Products; Dr. Fratantoni on the Economy Mar 9 2021, 7:54AM
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 state, for example. Now if I were to say, “There is only one natural lake in Texas: Caddo Lake,” people will find fault with it. “What about Sabine Lake?” they’ll cry. (Did you know that West Virginia has no natural lakes whatsoever?) One thing that people working from home don’t disagree on (WFH… careful, not WTF) is having a place to work that, uh, works, and here are some design tips. Or “hub and home” might be the new way to work. How is residential lending going to work? Keith Canter, the CEO of First Community Mortgage, has some thoughts about the near-term forecast. (You can listen to the audio version of today’s commentary featur
Ops, MLO Jobs; Sales, Non-QM, HELOC Products; Agency and Investor Disaster Policies; the Fed and Rates Mar 1 2021, 8:21AM
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 LOs who floated when rates were low, or locked loans at the bottom, off their back. Here you go. Certainly, the mortgage servicing rights of the 2020 book have become more valuable to those holding it as the perceived duration has increased: At this point who is going to refinance a 2.75 30-year mortgage (unless they need cash out)? Last year saw a continued wave of people in their 20s and 30s buying, or trying to buy homes. As this article points out (an important read for any MLO interested in first time home buyers), it is not an easy process saving up the down payment, qualifying for a loan, finding a property, presenting a winning bid, and then financing it. (To listen to
Christmas Eve: Bus. Dev., MLO, AE Jobs; Verification Tool; Disaster News; What is Build for Rent ? Dec 24 2020, 8:12AM
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 statistics critically. Housing stats tell us that bigger isn’t always better. Per the Census Bureau, the average square footage of new homes sold in the U.S. dropped from 2,724 in 2015 to 2,518 in 2019. Despite the decline in average square footage, the average sales price of new single-family homes sold in 2019 was $383,900, up from $272,900 in 2010 (not adjusted for inflation). 69% of new single-family houses sold last year were purchased using conventional financing (and other types of financing excluding Federal Housing Administration (FHA), Veteran’s Administration (VA) or cash purchases), up from 58% in 2010. Lest we forget, conventional financing is a mortgage loan