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FHFA Takes Further Steps to Reduce Loan Repurchase Requests

FHFA Takes Further Steps to Reduce Loan Repurchase Requests
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Manufactured, HELOC, Automation, Home Insurance Products; Wholesaler Earnings and News; Inflation and Rates

A general discussion topic of those here at the MMLA conference in Michigan is the ups and downs we’re all facing. While mortgage applications drift down, and industry headcounts go down, and towns on Maui like Lahaina burn down, here’s something that isn’t going down: credit card debt. Talk to any underwriter or loan officer and they will tell you that loans have become more difficult, in part because of borrower debt loads, and sure enough credit card balances hit $1.03 trillion in the second quarter. And it ain’t going down. The number is up 4.6 percent from $986 billion in the preceding three-month period. For some good economist’s perspectives and interest rates in general, and one capital markets guy’s, tune in to “Unparalleled Insights into Trends and Bold Predictions” with Selma Hepp (CoreLogic’s Chief Economist), Michael Fratantoni (MBA’s chief economist), and Rob Chrisman” on Wednesday August 16th at ....

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TPO Programs, Broker Locking, New Media Company, CRM Products; Investor News; Capital Markets

Planet Home’s Michael B. reminds me, “I miss every shot I don’t take.” The topics here in Orlando at the FAMP convention include not only prospecting, prospecting, and… prospecting, but also not missing a shot by offering clients more than a couple products. Freddie, Fannie, FHA, and VA are fine, but every client and referral source is precious, and what happens if someone walks through the door and needs a loan for a renovation (remodel), or a condotel, or a non-warrantable condo, or qualifies for a bond program, or… the list goes on. In the category of leads, have you looked into any local real estate investment clubs as a source of business? What about going after leads from divorce attorneys or local hard money lenders? Persistence! Another big topic at the FAMP conference is saving money, and STRATMOR’s current blog is titled, “Improving Revenue Might Be Right Under Your Nose.” (Today’s podcast can be found here ....

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