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Sales, QC, Verification, Benchmarking Tools; FEMA and Disaster Updates Continue

I just looked at the balance of my checking account: $LMAO.00. Here’s a tip of the day to keep your bank account from going to $0 with this non-mortgage information from the FBI: Don't use free public phone charging stations in airports, hotels, and shopping centers. And be careful any time you receive a phone call from a supposed law enforcement official. For some mortgage information, Curinos calculated that March 2023 funded mortgage volume decreased 53 percent YoY and increased 46 percent MoM. The average 30-year conforming retail funded rate in March was 6.36 percent, 19bps higher than February and 238bps higher than the same month last year. (Curinos sources a statistically significant data set directly from lenders to produce these benchmark figures, and the data is examined further here.) Today’s podcast can be found here and is sponsored by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender. ....

United States , New Jersey , New York , Atlantic City , Lawrence Yun , Chris Nobile , Kevin Quinn , Baiju Thakkar , Rob Niess , Ginnie Mae , Candice Mcnaught , Chris Voss , Alex Weems , Tony Petronio , Patty Devita , Tom Van Auken , Gibran Nicholas , Todd Lautzenheiser , Curino John Sayre , Tom Winston , National Recruiting Ryan Baxter , Rural Development , Bank Statement , National Sales , Branch Manager , Supreme Team ,

MSR Financing, Marketing, Appraisal, DPA Products; Fannie, Freddie Changes; EU Central Bank News

“I got stuck in a conversation with some wealthy people and one woman asked me how my investments were doing. I replied that both avocadoes should be ripe by tomorrow.” Food prices are an everyday reminder of inflation on the spending side of the equation, but on the flip side, plenty of people don’t know where to put their savings these days. One can pick up additional income on savings in places like the perfectly safe TreasuryDirect account and earn over 4 percent on as little as $100. (I would like to think that money won’t change me, but I won $5 on a scratch-off lottery ticket and used it buy name-brand aluminum foil.) The Fed has been, as usual, in the headlines this week by raising the target Fed Funds rate (what banks charge one another for overnight loans). Chris Whalen penned a piece titled, “FOMC Doubles Down on Market Risk.” One picture is worth a thousand words, and here’s a nice chart of Fed Funds to help keep things in pe ....

Hong Kong , Carl Harris , Freddie Mac Choicerenovation , Tim Braheem , Pam Marron , Chris Whalen , Lawrence Yun , Tani Lawrence , Steve Sussman , Melissa Malpass , Gibran Nicholas , Rob Chrane , Freddie Mac , Patti Robins , Chris Voss , Stacy Caprioli , Certificate Of Authority Incumbency , National Survey Of Mortgage Originations , Broker Services , Appraisal Network , Power Of Partnership , Knight Inc , Fannie Mae , European Central Bank , Flagstar Bank , Business Development ,

QC, Marketing and Sales, Credit/Profitability Products; Tax and Credit Info for Disaster Areas

Things are always changing. No bagpipe player I saw growing up looked, or played, like this. The MBA’s forecast for 2023 volumes changed, and here’s the latest by the MBA on 2023’s originations: $1.8 trillion. Technology is always changing. No, this Commentary is not produced by ChatGPT, nor will it ever be, unlike lesser publications. But if you’re a teacher, like my daughter with her classroom full of 7th graders, or a professor, how do you know that the paper turned in by a student wasn’t produced by AI? (Speaking of which, thank you to everyone who wrote yesterday that egg-laying chickens were killed by the “flu” not “the flue”… I should have caught that.) Economic conditions are always changing as well, and yesterday’s Federal Reserve Open Market Committee change of 25 basis points higher for its targeted overnight Fed Funds rate (what banks charge one another for overnight deposits) certainly sent a stat ....

New York , United States , San Antonio , Ed Vaccaro , Trevor Gauthier , Tim Braheem , Neil Armstrong , Chris Voss , Freddie Mac , Eric Nelepovitz , Mike Vough , Lawrence Yun , Gibran Nicholas , Fannie Mae , Tim Mcgraw , Birchwood Credit Services On Linkedin , Us Geological Service , Sovereign Lending Group , Broker Services , Market Committee , How To Builda Social Selling Program , National Sales Director , Mortgage Markets , Norges Bank , Revenue Service , Knight Inc ,

TPO, QC, Credit Analysis, Bus. Dev., PPE Products; Credit Suisse Bought

“SMONDAY: The moment when Sunday stops feeling like a Sunday and the anxiety of Monday kicks in.” Do you think the shareholders and management of Credit Suisse felt that, given Credit Suisse is being purchased by UBS for $3.3 billion? Remember when CS was a renowned jumbo buyer? Now we can watch the layoffs. The CS price per share marked a 99 percent decline from Credit Suisse’s peak in 2007. Mark Twain said, "The older I get, the more clearly I remember things that never happened.” The S&L Crisis certainly happened, but have regulators, auditors, and rating agencies forgotten about it? Under the “getting ready to fight the last war” category, the Federal Reserve is evaluating tougher rules for midsized banks after the failures of Silicon Valley Bank (SIVB) and Signature Bank (SBNY). It is looking at tougher capital and liquidity requirements and could beef up annual "stress tests" that assess banks&#3 ....

United States , New York , Patrick Creek , Tom Davis , Neil Armstrong , Anjelica Nixt , Tim Braheem , Brandon Barnum , Gibran Nicholas , Brent Jones , Mark Twain , Lawrence Yun , Homescout Vida , Fannie Mae , Scott Betley , Chris Voss , Silicon Valley Bank , Signature Bank , Broker Services , Concierge Services , Norges Bank , Bank News , York Community Bancorp Inc , Supervisory Housing Program Specialist , Knight Inc , Peter Thiel Founders Fund ,

Point of Sale, Appraisal, Outsourcing, Appraisal Products; Mergers and Lender Closures Continue

Every lender or investor with an “a” in their name seems to be subject to rumors and news in recent months. (More on Flagstar and American Pacific below.) Know anyone named “Bernadette”? The name is actually Latin for, “The act of torching a mortgage.” (Yes, it is cutting edge humor like that which brings you back.) Burning liens isn’t a topic, but paying them off early is, and with mortgage rates off of their highs, early pay offs, or EPOs, were a conversation topic at the conference this week. And with it, loan officer compensation follows. Can a lender pay an originator based on pull through? Yes. Can lenders pay different originators under different payment plans, as long as the originator sticks with one plan? Yes. Can a lender, if they comply with state labor law, ask for compensation back after an EPO or EPD? Yes, and it may depend on the contract signed by both parties at the beginning of employment. As always, consult your in-ho ....

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