The state of most commodity prices around the world? Prices are higher. What is the current state of donating blood? I tried donating blood again yesterday in San Luis Obispo, CA. Never again! Too many intrusive questions. ‘Whose blood is it? Where did you get it? Why is it in a bucket?’” The current state of the real estate market? Let’s see what these “rappers” have to say about it. The status of cryptocurrency mortgages is worth knowing. How about the current state of the jumbo biz? There’s more jumbo and non-Agency news below, but from the production perspective for many independent mortgage bankers (IMBs) it’s ugly as banks continue to use their ample deposits to price “under” market. (But if that’s where they’re pricing, isn’t that the market?) From an ops perspective, the #1 problem is disagreement about the income calculation. Of course there’s always the question about collateral&
Let’s face it, women spend more time worrying about what men are actually thinking than men actually spend thinking. While capital markets staffs are checking out graphs of the Fed Funds Rate, and a steepening yield curve, MLOs of both sexes are thinking about bolstering their referral base: Realtors are for rookies. In the last several weeks, my travels around the country (currently in Tennessee for the TNBA educational luncheon… Did someone mention “Walking in Memphis?”) have resulted in mentions of tax advisors, wedding planners, dog sitters, vets, local gym owners, developers, plumbers, house cleaners, dentists & orthodontists, car dealers, and estate planners. Lenders and originators of every shape and size are aware of the demographics of their area, rents heading higher, so figured this might be of use: 61% of renters can’t afford to buy a home in their city. Put another way, the study showed that renters are now priced out of hom
Loan originators spend their time making people’s days (unlike this film clip). Builders hope that they make people’s days, and I spent some time this week with building industry expert Ivy Zelman. She is very interested in watching the “build-to-rent” phenomenon, and sure enough… “Build-for-rent housing has boomed since the pandemic began. More than 6,700 build-for-rent homes were completed in 2021 alone, marking a record-breaking year for the sector. This year is set to surpass those numbers by a landslide… 2022 may see more than double last year’s completions, clocking a whopping 14,000 build-for-rent homes by the end of the year.” Meanwhile, lenders are always looking for more deals and more customers. Headlines talk about a smaller mortgage market in 2022 and how lenders are reducing head count to accommodate the smaller market. Yet, two thirds of potential customers did not transact last year. According to NerdWalle