On Thursday fell slightly by -0.05% after weak U.S. economic news knocked bond yields lower and weakened the dollar’s interest rate differentials. The dollar…
Whether it is an obscure band or an eatery in San Diego, a well-known palindrome is “tacocat.” Huh? Yes, it’s the same spelled backward or forward. You hadn’t heard that one? How about this one: “Rob, have you heard that when Lender XYZ funds a loan, it is sold to an investor, and usually the servicing is sold to someone else, but then Lender XYZ and its LO quickly offer to refinance the loan when rates drop. At that point Lender XYZ makes its origination fee again, and the investor and servicer lose out.” Yes, it’s everywhere as originators and lenders scramble for business. Current and previous clients are good sources, as other sources are tough to find: With the NAR verdict in Missouri being a sign of the times, where are LOs supposed to go for referral sources if not the buyer’s agent in the future? (Today’s podcast can be found here, sponsored by LoanCare, the mortgage subservicer known for delivering superior custome
You should know that caffeine increases the power of aspirin and other painkillers, which is why it is found in some medicines. You should also know the “50-50-90 rule”, which definitely applies to me: Anytime you have a 50-50 chance of getting something right, there's a 90 percent probability you'll get it wrong. Cute sayings aside, one thing you don’t want to be wrong on is Fair Lending, and every lender, and their employees, should know the rules and regulations surrounding it, and know that its enforcement is a priority of the Consumer Finance Protection Bureau and is often mentioned in its Supervisory Highlights. In today’s “Mortgage Matters” presented by Lenders One (at 2PM ET, 11AM PT) attorney Brian Levy addresses Fair Lending, as well as the NAR verdict and other “hot” legal and compliance topics. Today’s podcast can be found here, and this week is sponsored by nCino makers of the nCino Mortgage Sui