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IMB Wanted; 1% Down, Compliance Products; Training and Webinars Next Week; STRATMOR on Brokers

My notes from the MBA’s conference this week continue, including talk about new home sales being +4.1 percent for the month (+11 percent year over year, bringing a smile to builders everywhere). Although most of the focus of the conference was on the secondary markets (although let’s face it, there isn’t a plethora of new investors or products), the primary markets continue to be a discussion topic. Some lenders have seen LOs move into the broker world, some have seen them come back. The transition to being a broker is not always “rainbows and unicorns.” It appears to have better “top line” revenue but what about the “bottom line” when a shop has to pay for their own benefits, marketing, IT support, etc. (STRATMOR has a fine write up on the subject below.) Lenders continue to examine the branch model, whether it is traditional or P&amp;L (revenue) based. The MBA defines an “expense management” ....

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TPO, Accounting Outsourcing, Processing, DPA Tools; Upcoming Training, Webinars, and Events

Did you know that cows snooze laying down for the four hours of sleep they need a day? Did you know that horses sleep standing up? These tidbits may come in handy for me this week as I head to Cody, Wyoming for the WMLA annual conference. Or they may not. Here’s a question not so trivial: what has 250,000 customers and a $37 billion unpaid principal balance? Answer: Rushmore Loan Management Services’ residential mortgage servicing platform, being sold to Mr. Cooper Group this year. Recall that Mr. Cooper agreed to acquire Roosevelt Management Company, LLC, Rushmore's parent company, to serve as the platform for its mortgage servicing rights fund asset management strategy. Lenders of all shapes and sizes have been selling their MSRs for various reasons, not the least of which is to raise cash in tough times, and it appears that “tough” times will be with our industry for a while. For many lenders, servicing is the only asset worth anything. Depository ....

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