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“A fine is a tax for doing wrong. A tax is a fine for doing well.” Lenders sometimes grapple with the former, always deal with the latter. In my travels around the nation visiting with residential lenders, what else has their attention? Loan officer recruitment, the area with fabled signing bonuses over the last year or so, is heating up. After two great years and a reduction in pipelines, some MLOs are searching for new homes or at least taking phone calls from recruiters, testing their worth in the open marketplace. Home equity lending is surging. This is an advantage that banks and credit unions are trying to push, and this lending product internally helps banks as they can shift staff from mortgage to HELOC lending (usually less complex). And STRATMOR’s current blog is about how “Lenders Continue to Pivot” in a shift to a purchase-centric focus. (Today’s audio version of the commentary is available here and this week’s is sponsored b ....
If you see someone buying candy, popcorn, and soda at the movies, they must be a drug dealer. There's no other explanation for that type of income! Yes, inflation is moving ahead, faster than most would prefer. A little is good, a lot is not, as we found out yesterday and as we’ve learned for the last several months. U.S. consumer prices jumped 7.5 percent year-over-year in January to hit a four-decade high. Of course, it's important to note that inflation differs across income/demographic cohorts and geographic regions. Rising energy costs were the big driver of the headline number, as were used cars. If you take away seasonal adjustments, the headline CPI rose 8.2 percent. The price appreciation of the past year is only beginning to be reflected in the inflation numbers. Housing is becoming more unaffordable, with rising financing costs and appreciation. At the other end of the scale, as noted in the Commentary last week it is fine for the Biden Administration ....
Most people are paid wages… will raises keep up with an annualized inflation rate of 7 percent? Others may receive a large payout from the sale of their company. Want to sell your mortgage vendor company to a VC firm, or receive private equity money? Label it a “Mortgage technology disruptor” firm. There are new things out there, old things with new names, or new ways to look at things. As a lender, do you have a program for barndominiums? Are you a lender thinking about starting up a direct-to-consumer business? The current STRATMOR blog is, “Opening the Door to Consumer Direct” about the pros and cons of the CD channel. Flipping houses? Sure. But flipping cars is now here. What’ll they think of next? Today’s audio version of the commentary is available here. This week’s is sponsored by SimpleNexus, an nCino company and homeownership platform that unites the people, systems, and stages of the mortgage process into one seamless, e ....
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