Competition is the mainstay of many businesses and individuals. How does UPS compete to hire drivers for their trucks? One way might be to offer air conditioning, which has been negotiated for the first time. Lenders and vendors are led by competitive people, and several own interests in major or minor league sports franchises, the latest being Stan Middleman & the Phillies. Competition in the food and beverage industry? SF’s Anchor Steam was scaling back, Tupperware is in rough straits, and now the owner of Pyrex and Insta Pot is filing for bankruptcy! How is the public expected to keep its leftovers!? Builders are out there competing for lots. Residential lenders don’t compete with real estate agents, but NAR is always discussing its lobbying efforts. This week the Mortgage Bankers Association (MBA) is hosting a national, industry-wide campaign to grow its free grassroots advocacy network, the Mortgage Action Alliance (MAA), a non-partisan and effective way
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Well, what should we start with today? How about how California and Texas ranked highest on the United States Postal Service’s annual list of states with the most dog bites against its employees? Or how ‘bout Freedom Mortgage Corporation filing a notice of data breach after learning that confidential consumer data entrusted to the company was subject to unauthorized access, the result of a cybersecurity incident at one of the company’s vendors, Mortgage Industry Advisory Corporation (“MIAC”)? Data is critical in so many things, whether it is closing a branch, not caring if an LO heads to another company, or in determining that people can save money by buying books at Amazon instead of the local book shop. Along those lines, Saturday’s Commentary, noting the CFPB’s use of its funding to determine that different companies charge different prices, received, as you can imagine, a lot of responses. Think residential lenders have too many regu
Yogi Berra, when asked about staying in a particular hotel, replied, “The towels were so thick there I could hardly close my suitcase.” I’ve attended my share of conferences in the last few months (no towels were purloined), and the two big general concerns for lenders everywhere are a) providing the best products, price, and service to clients, and b) the general economic and interest rate climate and its impact on their business model. Regarding the second topic, mergers and acquisitions are on fire, and a good starting point in evaluating deals and how to structure them is the current STRATMOR blog, “Mergers and Acquisitions Continue On.” In product news, the use of Home Equity Lines of Credit (HELOC) and closed end Home Equity Loans (HELOAN) has skyrocketed recently as consumers need liquidity but want to keep their low rate first mortgage in place. STRATMOR Group is conducting a very brief survey to better understand the key decisions driving len
BUFORD, GA / ACCESSWIRE / September 22, 2022 / Masterbeat Corporation (OTC PINK:MSTO), a company specializing in hard, tangible asset acquisitions with an intense focus on real estate, collectible classic