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Manufactured, HELOC, Automation, Home Insurance Products; Wholesaler Earnings and News; Inflation and Rates

A general discussion topic of those here at the MMLA conference in Michigan is the ups and downs we’re all facing. While mortgage applications drift down, and industry headcounts go down, and towns on Maui like Lahaina burn down, here’s something that isn’t going down: credit card debt. Talk to any underwriter or loan officer and they will tell you that loans have become more difficult, in part because of borrower debt loads, and sure enough credit card balances hit $1.03 trillion in the second quarter. And it ain’t going down. The number is up 4.6 percent from $986 billion in the preceding three-month period. For some good economist’s perspectives and interest rates in general, and one capital markets guy’s, tune in to “Unparalleled Insights into Trends and Bold Predictions” with Selma Hepp (CoreLogic’s Chief Economist), Michael Fratantoni (MBA’s chief economist), and Rob Chrisman” on Wednesday August 16th at ....

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Various Vendor Tools; Lots of Lender Updates; New Jumbo and Non-Agency Programs

While the bond market is watching the world define a Ukrainian “invasion,” do you know why you should respect people who wear glasses? They paid good money to see you! What are operations people seeing out there? A recent STRATMOR workshop, led by Senior Partner Jim Cameron, indicated that there is a continued focus on automation & process, automated verifications, and keeping employees engaged. As the pandemic subsides, managers are grappling with a workforce that may have been hired far away from any offices, and how does a company work with key, valued employees in this segment? Meanwhile, originators are battling institutional buyers, all-cash buyers, and a pool of potential buyers who have been priced out of the market. We all know that not everyone deserves to, or can, buy a home, but this stat is an eye-opener: Roughly 69% of American households cannot afford a median-priced home, according to research from the National Association of Homebuilders. ....

New York , United States , Tom Davis , Jim Cameron , Jason Bannister , Anjelica Nixt , Odane Smith , Samuell Jackson , George Washington , Agency Minimum Tradelines , First Community Mortgage Correspondent , Redwood Trust Residential , Bank Statement Income Allowances , Appraisal Network , Onslow Bay Financial , National Association Of Homebuilders , Lendsure Asset Qualifier Program , Agency Underwriting Guidelines , Fannie Mae , Flagstar Bank , First Guaranty Mortgage Corporation , Program Guidelines , First Community Mortgage , Maverick Solutions , Senior Partner Jim Cameron , National Association ,

Processing, Speakers Bureau, Marketing, Subservicing Products; Conventional Conforming Changes; Rocket's Acquisition

If you are a VA lender, or service servicemembers’ loans, you don’t want to be singled out by the Department of Justice or the CFPB. And the two of them sent out letters yesterday with one of the letters specifically addressing mortgage servicers regarding military borrowers who have already exited or will be exiting COVID-19 mortgage forbearance programs. How ‘bout adding a Twinkie as a stocking stuffer this year? The rise and fall of Twinkies is an interesting business study. Perhaps another interesting business study is Truebill. One doesn’t have to be a Rocket scientist to figure out how this will end up: Rocket Companies, parent of Rocket Mortgage, thinks Truebill, founded in 2015, is worth $1.275 billion . Truebill’s smartphone app tracks its users' budget ....

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