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When did pineapples in shopping carts become a thing (more below)? But I digress… This morning I head to Miami, because isn’t there where most rap videos are filmed? Remember when there were one-hour LO-sponsored happy hours for new borrowers, friends, and referral sources like real estate agents at fancy establishments like the local Olive Garden? With mask mandates crumbling, LO-sponsored events are back in full swing. Mortgage conference season is in full swing too, with its plethora of applewood smoked bacon and pineapple cubes in the breakfast buffet line. I like pineapple as much as the next guy, but how the heck did an upside pineapple in one’s shopping cart develop into an invitation for certain types of sex, namely swinging? (Ain't nobody in the Food Lion I want to talk to, much less swing with.) Yes, humans are odd creatures. For MLOs, and more grounded, is the “Big Skip Energy Podcast” diving into the world of sales and business dev ....
I hope that you’re not reading this while stuck due to the thousands of cancelled flights or road closures in Northern California! Kudos to Carol K. who sent, “One thing nobody ever talks about being an adult is how much time you debate yourself on keeping a cardboard box because it’s, like, a really, really good box.” Kudos is an interesting word. Do the governments/governors in California and Colorado deserve kudos for making these moves that impact residential lenders, providing money for distressed borrowers (in California) and creating more regulations for non-bank lenders (in Colorado). How about state funding for tracking down, arresting, and throwing away the key for people who steal the identity of others? Author Carol Gardner interviews 4iq’s Luke Wilson ....
Want to know who’s in trouble for what? The Consumer Financial Protection Bureau (CFPB) issued its Supervisory Highlights report yesterday, which “shines a light” on legal violations identified by the CFPB’s examinations in the first half of 2021 as well as prior CFPB supervisory findings that led to public enforcement actions in the first half of 2021. Here in San Diego at the California MBA’s Legal and Regulatory Compliance Conference, there are multiple topics of concern. For example, ActiveComply’s Melissa Thomas discussed the surprisingly large percentage of MLO media posts that have a compliance or brand reputation issue . (Melissa will be the co-host in tomorrow’s Rundown with Rich and Rob covering current events in the mortgage market for 45 ....
W.C. Fields said, “Money will not buy happiness, but it will let you be unhappy in nice places.” Unfortunately, many people have much less of it, and here’s a quiz to start the week. What are -68 percent, -66 percent, -60 percent, -40 percent, -13 percent, and -2 percent? They are all the stock performance since their initial public offering, or SPAC merger, of well-known companies in the residential mortgage business. And the numbers aren’t even the decline from their price highs, which would look much worse. In order of a hit taken: Home Point, loanDepot, Finance of America, United Wholesale, Rocket, and Guild. (Thank you to California’s Jeff B. for sending.) Every deal was different, but many analysts are questioning the franchise value of pure TPO (broker and ....
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