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Company Webinars; POS, Non-Agency Products; STRATMOR and Customer Service; Freddie and Fannie News

Company Webinars; POS, Non-Agency Products; STRATMOR and Customer Service; Freddie and Fannie News
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TBA Pricing, Delegated Correspondent, Servicing Products; STRATMOR and Comp

Welcome to February 29; The 366th day is added to keep the calendar year synchronized with the astronomical year or seasonal year. What do astronomers know that we don’t? In general, what do “they” know that we don’t? Recall when Wells Fargo left correspondent, and other correspondent investors wondered the same thing. Now Rocket Companies will shut down Rocket Pro Originate in June, a mortgage origination platform for real estate agents and other financial pros. What does Rocket know? (More below). This biz is always changing, and this week I spent some time with Alanna McCargo, President of Ginnie Mae (without Ginnie Mae execution, FHA & VA programs would not be able to scale), and Ginnie is definitely trying to stay ahead of the curve which in turns helps first-time home buyers. (Found here after 8:30AM ET, this week’s podcast is brought to you by nCino, makers of the nCino Mortgage Suite for the modern mortgage lender. nCino Mortgage S

LOS, Warehouse, Servicing Products; Freddie Mac and Trended Credit Data; STRATMOR on Younger Borrowers

Did someone say, “National Margarita Day”? (Splendid timing, especially as vendors and lenders contemplate a rate and volume environment that may not change much for months, and compensation & personnel adjustments continue.) In 2023, the United States was the leading recipient of Mexico’s tequila exports, importing 84.8 million gallons of tequila from South of the Border. This has nothing to do with residential lending, other than plenty of folks in our biz enjoy a tasty margarita. While we’re on taste, the other day I mentioned a joke about vultures saying clowns taste funny which blog poster and attorney Brian Levy took as an invitation to “poke a little fun at this bear” in his most recent post. Levy’s most recent Mortgage Musings edition is titled, LO Comp, Bozo Buckets and “P&L Branches” and offers a spirited and insightful discussion of a couple LO Comp related issues that have been in the new

Home Equity, Pre-Qual, Correspondent, Verification Tools; Training and Webinars; STRATMOR on LO Habits

Attention in the hallways in the early going at the IMB Conference in New Orleans is varied. LinkedIn traffic seems to have picked up for IMB companies like Draper and Kramer and Atlantic Bay, but that is hardly a scientific measure of companies being bought, buying, or exiting the business. (As always, direct questions to company representatives.) Credit costs and trigger leads are a big item; this Wednesday’s L1 Mortgage Matters session at 2PM ET features John Fleming, of John Fleming Law and the Texas MBA, discussing issues including a fine update on the trigger lead situation. Being pragmatic about handling branches that are losing money, even if the crew there has been with you for years and years, is a hot topic among owners. The last 18 months has not been the time to waffle or ignore information. Today’s podcast can be found here and this week’s is brought to you LoanCare. LoanCare has successfully navigated clients and homeowners through market change for

QC, Correspondent Tools; Webinars and Training; STRATMOR Interview on Referrals

“Affordable” means many things. There are residential lending industry jokes about making a loan on anything with axles or a license plate. (Like “don’t.”) Being “permanently affixed” is usually in the underwriting guidelines, which makes this story about someone having their driveway stolen very interesting. (In this clip a builder explains how the scam works.) There are plenty of trends in the builder world, one of which is “build for rent.” Instead of just having a house here or there, BFR homes are clustered together and form a community, much like an apartment community, and with many of the same amenities, essentially an apartment building as a defined community. This new “asset class” even has its own conference. The category is usually not a good thing for IMBs or small banks or credit unions. (Today’s podcast can be found here, and this week’s is sponsored by the STRATMOR Group, the data

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