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Fannie & Freddie Updates; Automation/Pricing/LOS Products

Numbers are interesting things. “1” is the number of dogs, that I know of, rescued by a drone dragging a sausage and leading the dog to safety out of a mud flat. “38.2” was the United States’ median age in 2018. (Yes, half above, half below… and it is up from 37.2 in 2010.) “$9 trillion” is the Federal Reserve’s bond portfolio which Federal Reserve officials are set to discuss reducing, and how fast they will shrink it when the time comes, which would serve as a tool for tightening monetary policy as the Fed tries to curb high inflation. “2022” is the year that Fannie Mae anticipates we will establish a new "normal" for the housing market. The top-level view is that inflation will remain elevated for the year, and home price appreciation will slow to the high single digits. Economic growth will also return to longer term trends. Expect GDP to fall to 3.1%, home price appreciation will grow

Webinars Today; Training, Automation, Broker Tools; Write Up on MLO Purchase Focus

While there’s plenty of chatter out there about the return of Better.com’s CEO to its helm, and its interesting business model how LOs are supposedly not paid for closed loans but for how many they lock, I could tell that my cat Myrtle was miffed a few days ago. And I knew why: She figured out that I was not going to spend several hundred dollars to nominate her for some forgettable award. Now that a new year has begun, offers to nominate employees and producers are everywhere, and in some cases, lenders can nominate dozens of their employees at discounted bulk prices. I thought about explaining to Myrtle that she’d be better off with me spending those doubloons on line-caught salmon, or, in my opinion, that every lender would be better off spending their money on training, client retention software, or pricing concessions, rather than telling the world which producers their competitors should pick off. Of course, I was never big on giving a child a trophy just for

Vendor Updates and Offerings; LLPA Perspective; Milo s Crypto-mortgage

While rates continue higher, from South Carolina comes, “I just got 30 minutes of cardio trying to pick up an ice cube off the kitchen floor.” Plenty of folks on the East Coast are dealing with other kinds of ice (we all know how 2 inches of snow grinds Atlanta to a halt), or may be hunkered down watching Kevin Costner in “Yellowstone” growl his way through the script like he has marbles in his mouth. Meanwhile, digital banker Milo has plans to launch the first-ever crypto mortgage, making it easier for crypto investors to utilize their digital assets to obtain U.S. real estate. “Consumers will now be able to pledge their Bitcoin to purchase property and qualify for a low interest rate 30-year crypto mortgage.” In other money news, broker comp is shifting. loanDepot sent a note out to its brokers increasing LD’s maximum Broker compensation threshold from $25,000 to $50,000, now available and will apply to all branch locations tied to

Correspondent, Warehouse, Sales Jobs; Referral, VOE Tools; Upcoming Events and Training

Do you smoke weed? Have you been vaccinated against COVID? Too early in the workweek for those questions? (Is it okay to ask if someone’s been vaccinated against polio?) Some questions aren’t, can’t be, shouldn’t be, are too politically charged to be, asked. We don’t want to need a lawyer to have a conversation with a co-worker or underling. This one is a little easier: What percent of outstanding MBS (mortgage-backed securities) is owned by the Federal Reserve? The answer is 30 percent . That’s a lot. Smarter minds than mine opined that the $1.5 billion cap fear (remember that when it came to window sales?) was exaggerated. Fifteen years ago securitizing was normal, even if you were doing $50 million a month. The $1.5 billion cap per Agency window sale cap

Correspondent, Warehouse, Sales Jobs; Referral, VOE Tools; Upcoming Events and Training

Correspondent, Warehouse, Sales Jobs; Referral, VOE Tools; Upcoming Events and Training
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