Daylight Saving Time for much of the nation springs up Sunday morning, leading to plenty of grousing on Monday. What else is going on? “Please listen carefully, as our menu options have changed.” We’ve all heard that recording countless times when dialing a business. As an industry, our menu options have changed, or at least shifted. We all knew rates wouldn’t be in the 2’s forever and that refi burnout would take place. In our biz, lenders and MLOs continue to pivot to a purchase-centric focus. Independent mortgage bankers are warily watching CRA developments around the nation, which are spelled out in MCT’s Review, by Robbie Chrisman. Oh, and are we headed for an inverted yield curve? Due to the work from home (“WFH”) shift, a survey shows nearly 19 million more people want to move! The rise in oil prices and the flow of money is causing Texas laborers to move from building houses to working the oil rigs in the Permian Basin. We
While the Northern East Coast digs out from snow, and Southern East Coast is on the lookout for falling iguanas in Florida, how’s this for a clever “out of office” message? “Knock knock. Who’s there? Not me!” I have some real estate agent humor today below, but plenty of real estate agents and builder sales staff are out of the office, as there is less reason for them to man the phones versus 2020. Approximately only 762,000 new homes were sold in 2021. Estimates from the Census Bureau and HUD reveal 2021's sales were 7.3% below the 2020 figure of 822,000. The seasonally adjusted estimate of new houses for sale was 403,000 at the end of December, representing a six-month supply at the current sales rate. Do you think it is just your imagination that active real estate listings are down? Nope. The St. Louis Federal Reserve shows us, in a nice graph, something you can show your real estate agent clients. Numbers are indeed important and c
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Who is Guramrit Hanspal? Every servicer and lender hope good ol’ Gur doesn’t start giving lessons in how to avoid making mortgage payments, which he has avoided doing for 23 years and is still in his NY house. (If I were him, is that something I really want in the press rather than laying low?) In other news, nbroken” now, what do you think will happen as the U.S. economy picks up steam? (The audio version of today’s commentary is available here is sponsored by Origence and features an interview with Roger Hull, Chief Product Officer, and Andrew Weiss, SVP of Platform Strategy focusing on the ever-changing mortgage industry and building a modern origination platform. With the Origence Mortgage Platform, you can offer your borrowers and loan officers a truly modern mortgage lending experience.