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The national and administrative focus on advancing racial equity and support for underserved communities keeps fair servicing in the foreground as a top priority for mortgage servicers..
“I'm a multitasker. I can listen, ignore, and forget all at the same time!” We won’t, however, soon forget this part of the business cycle. “Rob, thank you for all your help placing ads for Ops staff for us. With the ‘Work from Home’ movement, and cutbacks, we don’t need all of this office furniture. Would you run an ad to sell it?” First off, I told the person that no, I wouldn’t. But more importantly, this well-known lender is experiencing what many lenders are, which is that cutting back can be just as difficult, if not harder, than expanding. We all knew that “refi burnout” would happen, but the speed at which mortgage rates have moved higher cutting refis, and purchase business not filling the void, surprised many. Originators have changed their tactics; Todd Duncan, renowned mortgage sales and training expert, will be discussing how LOs can adapt to this environment on The Rundown with Rich &
“Looking out at the road rushing under my wheels… Looking back at the years gone by like so many summer fields.” Yes, at the end of today we’re halfway through with 2022 (already). Time passes, hair styles, relationships, people, pandemics, and companies come and go. (Today’s joke has to do with the passing of time.) History is made and remembered. Woody Williams, the last surviving WWII Medal of Honor recipient (Iwo Jima), died yesterday at 98, as did Hells Angel founder Sonny Barger. When was the last time COVID made the headlines? Yesterday the Commentary noted, “Remember names like AmeriLoan, Countrywide, PNC, WaMu, Home Savings of America, Fleet, Great Western, World Savings, Associates, Nat City?” My apologies to PNC, and the many who wrote in, saying that it is alive and well. Business cycles are alive and well: With rates escalating higher and the home price appreciation that has taken place, buyer interest has rapidly deteriorat
Crypto and blockchain technologies have some valid applications but when it’s just for investment, there are tons of scams. (And what would we do for passwords if it weren’t for our pets?) Since the dawn of history people have been trying to take things of value from others. The industry is discussing the latest breach, especially as it seems, once again, that “it is not a matter of if but of when.” “Flagstar Bank recently became aware of a privacy breach that occurred during December 2021 involving unauthorized access to Flagstar Bank’s network. Flagstar Bank is in the process of providing their impacted customers with written notice of this privacy breach. The written notice includes an offer of free credit monitoring by Kroll, subject to the customer’s enrollment in the monitoring offer. Impacted customers can call Flagstar Bank at (855) 503-3384, or impacted customers may also obtain additional information online.” (Today