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How much would you pay for a company responsible for a funny video? How ‘bout $1.7 billion bones? Amazon, catching the eye of the FTC, has made an offer to acquire Roomba maker iRobot for $1.7bn. (Speaking of household goods, I occasionally am asked by LOs or employers about closing or referral gifts that are memorable or unique, unlike a bottle of wine or a doormat. I’ll often suggest Cutco knives (no, this is not a paid ad), as there is free engraving with the LO’s name & phone number, and point them to Luke Sasek for advice or to place an order.) I guess things are good in certain sectors of the economy, unlike residential lending. Plenty of jobs are being lost in residential lending, layoffs continue to occur weekly in big and small lenders and investors as companies grapple with volumes down 50 percent from much of 2020 and 2021. Rumors of impending closure of divisions by major lenders and investors (including wholesalers) continue to swirl, altho ....
“Senility has been a smooth transition for me.” So quipped an attendee here at the Michigan Mortgage Lenders Association conference in Grand Rapids. The aging mortgage banker workforce continues to be a concern around the nation, but there are certainly lenders and vendors attempting to “bring in new blood.” The FTC’s $62 million fine of Opendoor’s advertising policies raised eyebrows. We had the news of Two Harbors Investment Corp.’s Matrix Financial Services Corporation entering into a definitive stock purchase agreement to acquire RoundPoint Mortgage Servicing Corporation from Freedom Mortgage Corporation. People are talking about the Equifax alleged miscalculating of consumer’s credit scores. (But could they have resulted in both worse and better mortgage pricing?) There is a fair amount of discussion is about the difficulty of the deals that are out there, and how various derivations of pre-qual, pre-approval, and To Be Deter ....