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Hedging, Wholesale and Correspondent Products, 4506 vs. 8821, U/W Automation, Recapitalization Possibilities

Not all, but many, capital markets folks spent their college years rolling up their sleeves. Some not so much. When originators are asked about interest rates, some LOs may use the line in the clip above: “Oh, man. I only ride them; I don't know what makes them work.” (The current STRATMOR blog is titled, “Relying on the Fed: How Did This Happen?”) Yesterday the Federal Reserve Open Market Committee (FOMC) grabbed the headlines, despite doing exactly what everybody expected them to do: leave rates unchanged. Inflation is still higher than the FOMC would like. Certainly, insurance costs, whether they be homeowner or car, are inflationary. It would be foolish to blame the Biden Administration, or any administration, for things like insurance costs, ships running aground in the Suez Canal, a drought in Africa, or what OPEC does. Such is life, and one needs to ask how much more government interference we need or want. In my opinion, a president consultin

Borrower Outreach, Servicing Oversight Products; TPO News; Bank Merger Announced; Brokers and RESPA

“I accidentally rubbed ketchup in my eyes. Now I have Heinzsight.” In terms of foresight, looking ahead, there are some interesting things going on out there in Mortgage Land! How ‘bout the CapitalW Collective non-profit for women in mortgage capital markets? And Beeline's Miguel Vega has been in the press lately with, "The Dream of Owning a Piece of America is a Dominant Theme in the Latino Community” and the company launching a Spanish-language version of its home loan experience this week. Something else that continues to be “interesting” is the question, “Are brokers violating RESPA every day?” This question is asked because brokering is a referral of a customer to a lender, right? HUD identified fourteen services normally performed in the origination of a loan (Section II, subsection C of the link above), and brokers usually do five out of the fourteen services, including taking the application, to get around

Forget About Luke Skywalker, Star Wars' Most Unlikely Hero Just Ruined All Palpatine's Plans

Form DEF 14C FINDIT, INC. For: Jan 26

Data Mining, Fair Lending, Tech Stack Products; Ginnie Stats; STRATMOR Ops Workshop; LO Comp and Profitability

I received this call yesterday from an LO friend. “Rob, I was talking to my ‘hair-apist’ last night, and I was telling her about how our industry has been a real roller coaster in terms of income for people and companies. People need their hair cut regularly, but certainly people don’t need home loans regularly. We’re all keeping our fingers crossed that 2024 is an okay year.” First off, hats off on the “hair-apist” line. (Is there also “hair-apy”?) Second, lenders are doing what they can to at least stay profitable. In fact, STRATMOR’s current blog is titled, “Adjusting Loan Officer Compensation to Improve Profitability.” Many lenders tend to move in a pack, based on rates, regulatory environment, or volumes, and despite an uptick in locks in November which resulted in decent December fundings for many, lenders find themselves back looking at overhead, tech and investor mix, and lead source. Reg