While Omicron continues to grab headlines, and economists, investors, and Congress grow increasingly wary of the immense U.S. fiscal expansion as evidenced by rates heading higher, here’s a grabber: Inefficiency is not rewarded. This applies to mortgage originations, or… baths? Who wants to monkey around with taking the time and effort to fill it up at the right depth and temperature when, for $2,700 for the technology, you could verbally tell Kohler’s computer to do it while you’re pulling into your driveway? I’ll take the manual route. (Or if you have $8,000 burning a hole in your pocket, how about the “Stillness Bath” inspired by Japanese forest bathing? I’ll take the American forest bathing experience, thank you very much.) In the technology vein, in Moscow, despite privacy concerns, you can use your face as a ticket to ride the metro. What about technology creating edible weed tickets? Technology is certainly allowing more pe
Tabrasa’s Patrick H. wishes everyone a Merry New Year! Yes, 2022 is here, with its thousands of cancelled flights due to weather and omicron. Older loan officers tell me that being 20 in the seventies was much more fun than being seventy in the 20s. Things are always changing, although one thing that never changes are independent mortgage bankers who think the market is undervaluing their company. Remember all the doom and gloom predictions for mortgage volume in 2021? They were wrong, and the Mortgage Bankers Association estimates that we did a record $1.61 trillion in purchase loans last year. Not too shabby. It’s the new year, and wouldn’t it be fun, as a goal, to say you’ve had a drink (soda pop counts) in the oldest bar in each state!? Here’s your guide. Managers at lenders may need that guide this year, given rate, volume, and margin forecasts. We’re in a cyclical business, and managers enjoy expanding and hiring much more than cutting ba