NOVI, Mich., May 16, 2023 (SEND2PRESS NEWSWIRE) — Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today it is one of
“We are going to have a sales contest this month. The winners will get to enter next month’s contest.” Hardy har har, right? (Note: watch Glengarry Glen Ross.) As rumors swirl, and you know what they say about rumors, about the FHFA rescinding recent changes to its loan level price adjustment matrix this afternoon, I received this note. “Hey Rob, do you think that the CFPB is wise to some lenders switching referral sources to switch commission structures? Like where a loan comes in off the street, and a price is quoted with 1.25 for the LO, and client balks, so then the loan is referred in-house and the LOs commission knocked down to .50 to keep the deal?” Yes, I have heard that they are and the CFPB is probably aware of those kinds of things too, but you should check with your lawyer or compliance department to see if that runs afoul of LO comp rules. Whether the original street LO receives zero commission when a loan goes to the in-house team/call c
Wanna track your credit score minute by minute, regardless of whether you speak English, Spanish, whatever? I have no idea why any sane person would want to do that, but SoFi will do it for you. More importantly, the number of people in the United States who spoke a language other than English at home has nearly tripled from 23.1 million (about 1 in 10) in 1980 to 67.8 million (almost 1 in 5), according to a recent U.S. Census Bureau report. At the same time, the number of people who spoke only English also increased, growing by approximately one-fourth from 187.2 million in 1980 to 241 million in 2019. The Hispanic population is the largest minority group in the U.S. So, it is not surprising Spanish is the most common non-English language spoken in U.S. homes (62 percent), 12 times greater than the next four most common languages. (Today’s podcast can be found here and this week’s is sponsored by SimpleNexus, an nCino company and the homeownership platform that unites th
“Someone asked me to name two structures that hold water. I was like, well, damn.” As the storms continue to hit us in Northern California and Nevada, not only is my cat Myrtle ticked off, but we are reminded that it is either feast or famine in the Golden State. Take your pick, forest fires or biblical rain: Over 20 trillion gallons of water are supposed to fall on California in a two-week span. Yes, that’s with a “t.” Ratcheting back several decimal places, new estimates from the Census Bureau found that the U.S. population grew by only 0.38 percent from July 2021 to July 2022, which was the second-lowest growth on record behind just the 0.16 percent growth registered during the first year of the pandemic. The main thing increasing it was an increase in net immigration. To find comparably low rates one has to go back to the worst of the Great Depression, when growth was still a comparably robust 0.6 percent. All told, for those who don’t beli
For me, the next ten days includes time in Chicago, the Wisconsin Dells, and Atlanta. It isn’t a scary agenda. At the ready for tonight’s Halloween fun? Polls seem to indicate that the most popular treat is Reese’s Peanut Butter Cups, followed by Reese’s Miniatures, Twix, Kit Kat, and Snickers. Regardless of treats being handed out at doorsteps, there are “ticks” in an unfortunate affordable housing situation that is an example of the difficulty of implementing housing programs. About 5,600 people live in the ski town of Vail, Colorado. But during the busy season thousands of people work there, and there aren’t enough nearby places to live for that workforce. Right now there’s an estimated deficit of 6,000 beds for the work force in the county, and in order to address that the ski resort Vail sought to build a project on-site to house 165 employees. The town’s existing population got upset, as many residents don’t wa