Nothing is simple or easy in this world. Take pine nuts. Simple, easy, right? Nope. A staple of pesto, and some salads and desserts, those in the United States don’t come from the United States. They come from China, Russia, and Afghanistan! Our allies? Lenders handling volumes expected to drop more than 40 percent in 2022 isn’t easy. Our housing market isn’t simple. Plenty of attention-grabbing headlines have appeared, saying the U.S. housing market is in bad shape, even plummeting. Like this “U.S. Housing in Much Worse Shape Than Fed Admits.” Remember that millions of households have solid balance sheets, lots of equity, decent credit, and jobs, and there are plenty of millennials that want to own their own place. But the current housing market prompted one West Coast broker to write saying, “Nothing is easy anymore. The Federal Reserve will destroy housing. For some reason, the FOMC will not change the ancient method of containing inflation,
Broker Products; Underwriting, Customer Service Tools; RON Progress; New Exchange-Traded TBA Product
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Warehouse, Customer Service, HELOC Products; Disaster News and NFIP Primer
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“What do you get when you cross the Atlantic Ocean with the Titanic? Halfway.” We’ve crossed the halfway point of 2022, and where’s everyone’s attention? As always, lenders offer product, service, and price. Cheap HELOCs, 2nds, down payment assistance programs, and bond programs are in vogue, and any time the possibility of an insurance cut for FHA-backed loans makes it into the Wall Street Journal, it’s become mainstream thinking. Lenders have ramped up training existing staff: why pay a huge signing bonus to someone new when boosting existing LO productivity by a loan or two a month does wonders across the sales staff? Prices (and rates) are a function of the economy, and although inflation is on everyone’s watch list, jobs are still important. The U.S. jobs report for June is expected to show 250K jobs were added to the economy during the month and the unemployment rate held steady at 3.6%. The ongoing strength of labor demand is anti