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As Brian B. reminds me, “In the New England you can tell the changing of the seasons by the changing color of the leaves. In Florida you can tell the changing of the seasons by the changing colors of the license plates.” Speaking of moves, geography, and distance, if you’re a lender or a vendor, how’s your 2023 travel and entertainment budget shaping up? I figured. The Mortgage Bankers Association believes (some say optimistically) that total mortgage origination volume will decline to $2.05 trillion in 2023 from the $2.26 trillion expected in 2022. The “pie” will shrink, and every lender is striving to increase customer service. Under the category of “Know your clients,” buyers who bought homes in the year from June 2021 to June 2022 moved a median of 50 miles away from their previous residences, a huge increase. Over the preceding five years it was pretty much flat at a median of 15 miles, which was the highest going back to 200 ....
Forget about layoffs, salary cuts, revenue problems. There’s extra leftover candy in the lunchroom! Uh… do we still have lunchrooms? I hope so. And Thanksgiving will be here before you know it, and with it, pumpkin pie. (Yes, I know that this is a mortgage commentary, but even pumpkins have their share of regulation and controversy.) Pumpkin is a variety of squash belonging to the “Cucurbitaceae,” or gourd family which also includes melons and cucumbers. The FDA allows for sweet squash blends to be sold under the label of “pumpkin.” Libby’s, for one, uses 100% Dickinson pumpkins in its Libby’s solid pack pumpkin, not squash. Although pumpkins and squash are very closely related, Libby’s denied that it ever used a “blend” of various squashes in its popular canned pumpkin. “But the ‘Libby’s Select’ strain of Pumpkin is a variety of squash belonging to the cucurbitaceae. “The &# ....
AE, Ops, Sales Jobs; Sec. Mktg., NOI, QC, Diversity Products; NewRez/Caliber Deal; Servicing Retention Study Apr 15 2021, 8:29AM There are some clever people out there, especially when it comes to satisfying demand. Lenders know that mortgage pricing is a function of supply and demand. If one investor doesn’t want your non-owner loans, for example, some other investor will, whether it is a Wall Street private label or a non-QM investor. I mention this because the 25 leading U.S. banks curtailed loan holdings by 8% during the first quarter to $5.45 trillion, according to the Federal Reserve. Deposits rose 16%, to $10.13 trillion, giving the lowest loan-to-deposit ratio since data collection began 36 years ago. How about the supply & demand of odd properties? How does one obtain financing, or go to the bank, or have an appraisal done, on a lighthouse? Sea lovers should know that the historic Wolf Trap Lighthouse and a waterfront lot to keep your ....