“So, HBO Max is now just ‘Max.’ Your move, Peacock.” Lenders continue to cogitate on their next moves as rates remain stubbornly high and inventory available for sale stubbornly low, and neither appears ready to change much any time in the near future. As I continue to visit with groups of lenders and vendors, lender’s overhead, and how comp figures into that, continues to be a hot topic. STRATMOR’s current blog is titled, “Compensation: Ever Changing,” and I asked STRATMOR CEO Lisa Springer about what lenders are doing in that area. “Lenders in increasing numbers are reaching out to STRATMOR to advise on compensation strategies from a holistic point of view, seeing how changes fit within the entire company. Management teams are thinking about structural changes and capitalizing on the opportunity to create win-win comp programs for both the employees and the companies.” In housing and inventory news, a recent real e
Referral, Servicing Strategy Products; FHA, USDA, Ginnie News; Mortgage Application Stats
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Underwriting, LOS, Appraisal Tools, Broker and Automation Products; Freddie and Fannie News; Housing Starts Skyrocket
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This is about the time you stop saying “Happy New Year” to people because you’ve forgotten who you’ve said it to and who you haven’t. Lenders and vendors are not forgetting the second half of 2022 as they plan for 2023, and widespread travel and entertainment cutbacks are standard fare. It is hard to justify spending $3-5k for each person to go to a conference just to “wave the company flag” when you just went through another RIF and you’re hoping to break even in the first quarter. Zillow has not forgotten anything, especially since it has nothing to remember. Zillow doesn’t have to remember what the inside of my house looks like, since it has never set foot in my hovel. But Zillow has a staff to crunch numbers, and tells us that, given the FHFA/Freddie/Fannie conforming loan limit changes for 2023, more than 2 million U.S. homes no longer require a jumbo loan. (Remember that, since jumbo loans don’t have a g-fee, s