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HELOC, 2nd Mortgage, Pre-Qual, LOS, QC Tools, Dept of Labor, PrimeLending, and Whistleblowing

HELOC, 2nd Mortgage, Pre-Qual, LOS, QC Tools, Dept of Labor, PrimeLending, and Whistleblowing
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Hedging, PPE, Fee Collection, QC Products; Gov t and Conforming News; Producer Inflation Alive and Well

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

Lead Gen , Database, Tax Service, Non-Agency Products; Housing Starts and Building Permits Attract Attention

I received this from a loan officer in Michigan. “Forget the Serenity Prayer! Grant me coffee to change the things I can, and wine to accept those that I cannot.” There are tens of thousands of loan originators around the United States, primarily changing things for the better for their clients but recently some of them were caught taking a fraudulent continuing education class. Unrelatedly, one (former) Ohio Mayor claimed that ice fishing can lead to prostitution. Attorney Brian Levy somehow brings it all together in his Mortgage Musings about the slippery slope and what might happen to those LOs when they return from their 90-day suspensions. Fraud, including kickbacks, unfortunately, is on its way higher according to off-the-record chats with LOs, sometimes making the headlines (for example, a Georgia real estate agent ran afoul of the Department of Justice in committing mortgage fraud). And a quick note before we jump into the commentary: yesterday I published news ab

MLO, AE Jobs; Advertising Regulation, PPE, Marketing, Broker Tools; Tech Funding; Purchase Study for MLO s

MLO, AE Jobs; Advertising Regulation, PPE, Marketing, Broker Tools; Tech Funding; Purchase Study for MLO s
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.

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