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DSCR, HELOC, Automation, Outsourcing, Processing Products; Disaster Updates; Mortgage Apps Drop for 4th Consecutive Week

If I am not borrowing money, the impact of higher rates isn’t a big direct hit to my lifestyle or spending. But if I had a credit card from Kohl’s, paying 30 percent would sure dissuade me from buying something and putting it on “layaway.” Lowe’s? 28.99 percent. Nordstrom’s is over 31 percent! With credit card debt moving about $1 trillion for the first time ever, something has to slow down, right? Today I head to Las Vegas, forecast 103 degrees, and I have already been fielding emails about lenders are selling servicing, busy further cutting costs, or making sure they collect money that is due them (like appraisal fees, as noted in this STRATMOR piece). Some companies are looking to acquire or be acquired. Mergers and acquisitions don’t only happen with lenders. For example, yesterday, in the compliance consulting biz, Firstline Compliance announced that Mark Wilson, Managing Partner, and Dustin Pfluger, Partner and Mortgage Banking Pra ....

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Point of Sale, MSR Financing, DSCR, Home Equity, Accounting Products; Training and Webinars

Some things are nearly timeless, like this annual list of “10 Things to Do,” most of which can be applied any year. Here in Las Vegas, the time of sunrise is 6:05AM, and yes, I’ve been up for a few hours by then, not getting into bed. But can’t you almost feel the earth moving around the sun? Anchorage is picking up 6 minutes of daylight per day; Kanas City 4. Over a week that’s… uh… 7 times… well, you can figure it out per week. Every spring it is remarkable. What some consider remarkable, although not in a good way, is how we find mortgage rates in the 7s again, and the talk here at the Lenders One event is what can be done about it. Despite the yield curve being inverted (2-year yields are .8 percent higher than 10-year yields), once again IMBs are searching for hidden ARM buyers, good home equity products, and continuing to offer down payment assistance programs, bond programs, and buydowns. But for many, the hope of 30-year f ....

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