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Munis weaker, mutual funds lose another $2 4B

High-yield saw outflows of $867.067 million after $594.497 million of outflows the week prior while exchange-traded funds saw inflows of $736.967 million after $444.544 million of inflows the previous week.

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Cap Mkts , CRM, Appraisal Bias, Pre-Qual Products; October Events and Webinars; S&D Loan Pricing Where?

Water is a powerful force: just check out this time lapse storm surge video from Ft. Meyers in Florida. Turning to metaphors, Sun Tzu said, “If you wait by the river long enough, the bodies of your enemies will float by.” Some investors and lenders may have adopted that phrase. We’re staring at the autumn and winter, and its ugly out there. Cutting costs fast enough? Best Capital, Finance of America’s retail division going to G-Rate (as reported earlier this week in this commentary) and perhaps closing its wholesale channel (with its low margins and high perceived risk warrantying all the broker business). AnnieMac (American Neighborhood Mortgage Acceptance Company LLC) “as a result of worsening market conditions, has made the difficult decision to cease Wholesale Operations effective October 31, 2022…” (Those impacted by mortgage companies downsizing can post their resume for free here and employers can view them for the nominal fee of

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Cap Mkts, Broker, HMDA Review, AI/ML Products; Recent Freddie and Fannie News

John Kenneth Galbraith said, “The only function of economic forecasting is to make astrology look respectable.” How about forecasts of how dramatic this downturn has been for residential lenders and related third parties? What is making the headlines these days are companies that are not reducing their workforce, since on the flipside nearly every lender, large and small, are having layoffs, as well as many vendors from small to large (like ICE’s cutbacks in its mortgage group which had an operating loss for the second quarter of $6 million). Behind the scenes? STRATMOR Partner Jim Cameron notes, “While the industry struggles with downsizing, correspondent investors are seeing a greater incidence of manufacturing defects as loans are delivered to them. The industry is originating ‘harder to do’ loans and lenders are cutting staff which is not a great combination.” (Today’s podcast is available here and this week’s is sponso

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Fed s Steady Approach To Rate Hikes Could Ease Pressure On Mortgages

Fed Chairman Jerome Powell hinted Wednesday that the U.S. central bank is looking to dial back the pace of interest rate hikes as soon as the impact of previous increases shows up in inflation data.

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Purchase Advice API, TBA Trading Tools; STRATMOR on Signing Bonuses; Webinars and Training to Finish July

Purchase Advice API, TBA Trading Tools; STRATMOR on Signing Bonuses; Webinars and Training to Finish July
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