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This morning I head from Chicago to Orlando along with 74 million others (yearly). More fun with numbers: Although the MBA thinks we’ll fund about $1.7 trillion in 2023, weekly applications continue to reflect a declining market so let’s use $1.5 trillion to make the numbers easier. That averages out to $6 billion per business day of production. The Fed is looking to offload $13 billion in MBS from bank seizures. To keep things in perspective, that is only two days’ worth of production, certainly not enough to “swamp the boat.” Perspective is good, and here’s another example. Higher and volatile interest rates, uncertainty about property values, and stresses in some property markets have increased pressure on some loans and properties. Accordingly, MBA reported that commercial and multifamily mortgage delinquencies increased in the second quarter of 2023. Even with the uptick in delinquency rates, they remain at the lower end of historical rang ....
Hedging, Productivity, POS, Audit and Tax Products; Non-Agency News; STRATMOR on Sales Costs; GDP Solid mortgagenewsdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgagenewsdaily.com Daily Mail and Mail on Sunday newspapers.
As servicing rights continue to be sold, and residential lender layoffs are rampant, here’s a quick reminder that anyone displaced can post their resume for free here; employers can view all resumes for a flat $75 for several months. Today I am passing through Chicago to the Indiana MBA conference. Unfortunately Chicago has the dubious distinction of being on the List of Top 10 Metro Areas where home prices are down the most. (Toledo, Rochester, and Detroit make up the top three.) Did you know that in 2020, there were the most first-time home buyers ever in history at 2.38 million? Interestingly the average age for a first-time homebuyer is 36 years old. What kind of customer experience are lenders offering these borrowers? In turbulent times like these, employees’ eyes and ears are tuned into what their leadership says and does. Research consistently shows that a focus on the employee experience (EX) and employee engagement results in higher revenues and productivity, be ....