Sales Jobs; Construction, Marketing Products; Impressive Agency Earnings

Posted To: Pipeline Press

Huh? Radian was recently in takeover talks ? I only know what I read in the newspapers! Sometimes I wonder if everyone isn’t in M&A talks to one degree or another, and rumors continue to swirl about a publicly-held bank in the Northwest spinning off its mortgage division. There’s a lot going on in our biz, especially with Freddie & Fannie in the present & future – more below. Even my cat Myrtle is silent, ignoring my questions about what she’s been up to lately. Lender Products and Services With the new integration between LBA Ware’s CompenSafeTM and the enterprise digital mortgage solution from SimpleNexus , loan originators can now receive real-time compensation notifications through the SimpleNexus mobile app. SimpleNexus provides LOs with a single…(read more)

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Sales Jobs; Construction, Marketing Products; Impressive Agency Earnings
Sales Jobs; Construction, Marketing Products; Impressive Agency Earnings

Marketing Products; Lender Legal News; OB's Index, Flood Insurance, Ditech's Ch. 11

Posted To: Pipeline Press

Amazon accounts for nearly 50% of the ecommerce activity in the United States. With that kind of delivery service, it isn’t hard to see why malls are suffering. Which is why, all across the nation, malls are being re-developed, re-purposed, whatever you want to call it, into mixed-use and housing projects. Projects in Phoenix , Cincinnati , and St. Petersburg are all moving forward. I hope that lenders offer products that are tailored to this type of condo and mixed-use housing. Lender Products and Services Nations Direct Mortgage is excited to introduce its new dedicated Non-QM Help team! “With the Non-QM market expected to explode to over $35B in 2019, we will provide expert resources to our broker partners so they can grow their Non-QM business” stated Martin Warren, Director…(read more)

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Marketing Products; Lender Legal News; OB's Index, Flood Insurance, Ditech's Ch. 11
Marketing Products; Lender Legal News; OB's Index, Flood Insurance, Ditech's Ch. 11

Broker Products; Upcoming Mortgage Events; Conforming/Conventional Changes

Posted To: Pipeline Press

From Twitter: “When self-driving cars become mainstream, dead old people will occasionally just arrive places.” Morbid humor aside, will it really help traffic when cars are programmed to take laps around city blocks rather than look, and pay, for parking? Speaking of city blocks, how’s your jumbo product? If you’re an independent/non-depository mortgage bank, the odds are your jumbo pricing doesn’t stack up too well against the bank pricing that are out there. Those darned portfolio products! What about the really big home loans, say, $10-20 million? There are only 230 of them out there, mostly funded in the last six years, mostly refinances, and mostly ARMs . Closing one would sure make your day, huh? Lender Products and Services Galton Funding specializes in…(read more)

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Broker Products; Upcoming Mortgage Events; Conforming/Conventional Changes
Broker Products; Upcoming Mortgage Events; Conforming/Conventional Changes

CRM Tools and News; Conventional Conforming Changes Continue

Posted To: Pipeline Press

When I grow up, I want to live…next to the airport? Usually, airports are there before people move in around them, and then the residents all complain about the noise despite the airport already being there: Not in my backyard! But in some areas land is scarce, and there are big projects going in near the Atlanta and Denver airports. And anyone flying in to visit Manhattan is waiting for La Guardia and Newark to be remodeled (wish they could do something about the 90 minutes into Manhattan from there) as well as New Orleans and Pittsburgh. Lender Products and Services Banc of California , a leading Prime Non-QM lender, is now expanding its broker/banker network . Banc of California’s products include a “just miss” QM product with extensive niches, 12-Month Bank Statements…(read more)

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CRM Tools and News; Conventional Conforming Changes Continue
CRM Tools and News; Conventional Conforming Changes Continue

Automation Products; Nationwide Bank News; Slowing Europe Helping U.S. Rates

Posted To: Pipeline Press

Here’s some trivia for today’s potluck in the Shipping Department: Las Vegas has 150,000 hotel rooms and spending a night in each would take you 411 years . Less trivial, a couple “sand states” over, Apis Cor, a Russian 3D printing construction company, and Sunconomy, a U.S. construction company, have received permits to build their first 3D printed geopolymer additively manufactured house in Lago Vista, Texas. Helping first-time home buyers or those moving to the area? U.S. Census Bureau research finds 11% of people move in a year, but 62% of those who do, stay in their same county! The main reasons people said they moved were relocate to a better home, establish their own household, for other family reasons, for a new job or transfer, and to find cheaper housing. Lender…(read more)

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Automation Products; Nationwide Bank News; Slowing Europe Helping U.S. Rates
Automation Products; Nationwide Bank News; Slowing Europe Helping U.S. Rates

Non-QM, Fraud Protection Products; MGIC's Pricing Engine; BB&T/SunTrust Deal

Posted To: Pipeline Press

Guys – here’s your one-week warning for Valentine’s Day. In related news, countless scientific studies have proven that a male human being is incapable of folding the bottom sheet from a bed. I mention this, on a personal note, because I am still unable to even fold a t-shirt after watching this amazing short video on how to do it properly. But there are more important things than folding a t-shirt in two seconds, like how best to compete. Here’s a piece suggesting that technology levels the playing field, and that lenders will have to reach beyond that in order to succeed in a tough market. One way to compete is to merge in overlapping territories, and we saw that with BB&T announcing a deal to buy SunTrust in all-stock deal worth $66 billion that will create the…(read more)

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Non-QM, Fraud Protection Products; MGIC's Pricing Engine; BB&T/SunTrust Deal
Non-QM, Fraud Protection Products; MGIC's Pricing Engine; BB&T/SunTrust Deal

Sales and Digital Products; Agency News; Comp Survey – Guarantees Still out There?

Posted To: Pipeline Press

Fun with numbers! Here’s something interesting in the finance world: The number of public companies in the U.S. has decreased by almost 50% from 1996 to 2016 (7,322 to 3,671). What does that mean for investment dollars – is it all going into private equity? What if your career was entirely wrapped up in Initial Public Offerings (IPOs)? It isn’t hard to figure out why the average fixed rate mortgage amount is $280k while the average adjustable rate mortgage amount is more than double at $688k . Go portfolio loans! Lastly, and no fun whatsoever, $8.9 million was the amount of warehouse fraud created by a man in New York. Lender Services and Products Showing its commitment to leading the way in Non-Agency lending Carrington Mortgage Services, LLC is expanding its guidelines and…(read more)

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Sales and Digital Products; Agency News; Comp Survey – Guarantees Still out There?
Sales and Digital Products; Agency News; Comp Survey – Guarantees Still out There?

LO Products, Digital White Paper; Training Events Across the Country and at Home

Posted To: Pipeline Press

The other day I was on a Southwest flight and I noticed someone on the aisle seat crumple up a couple of unused tissues and put them on the empty middle seat so that no one would want to sit there. What’s up with that? For something that won’t make you shake your head, the Federal Reserve released its Senior Loan Officer survey for January, noting that banks showed no significant change in lending standards for most categories of consumer loans, but standards on credit cards loans were tightened as demand for all categories of household loans decreased. Know that debt held by US households increased to a record $13.51 trillion in the third quarter , according to the Federal Reserve Bank of New York. The amount is 21% more than the total in Q3 of 2008, during the financial crisis…(read more)

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LO Products, Digital White Paper; Training Events Across the Country and at Home
LO Products, Digital White Paper; Training Events Across the Country and at Home

West Coast LO Jobs; New Broker Non-Agency Product; Economic News Keeping Rates Low

Posted To: Pipeline Press

“All mushrooms are edible. Some are only edible once.” I am positive there are families in the U.S. that only buy or sell a house once in their life, and if that house sells above or below the asking price depends on a) how accurate the asking price was compared to the market, and b) the strength of the market. Zillow tells us that the share of homes sold above asking price declined each month in the second half of 2018, with December seeing the largest month-over-month drop since at least 2012 . 19% of home sales in the U.S. went for above asking in December, down from 21% in November and a peak of 24% in May. Lender Products and Services Home Point Financial has introduced its new Non-Agency lending platform: Home Point Edge! With Edge, brokers can take advantage of new Non-Agency…(read more)

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West Coast LO Jobs; New Broker Non-Agency Product; Economic News Keeping Rates Low
West Coast LO Jobs; New Broker Non-Agency Product; Economic News Keeping Rates Low

Lender Products; FHA/VA/Ginnie News; HMDA and Compliance Update

Posted To: Pipeline Press

I can tell it’s almost Valentine’s day since Costco just put out the Halloween decorations. Speaking of Costco, its minimum wage is now $14 per hour. I recall reading that nearly one-third of our nation’s workforce, 41 million people , make less than $12 per hour. Jobless claims, ADP employment, and the employment statistics from the government continue to paint a rosy picture, but many now believe that the Fed may not raise rates in 2019 given the current economy. Lender Products and Services On the heels of success with the Single Close Construction program in 2018, GSF Mortgage Corp. ( GSF ) is kicking off the new year strong by attending the NAHB International Builders’ Show in Las Vegas, NV, through February 19-21 . Highlights of our Single Close Construction program…(read more)

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Lender Products; FHA/VA/Ginnie News; HMDA and Compliance Update
Lender Products; FHA/VA/Ginnie News; HMDA and Compliance Update