LO Jobs; Subservicing, Broker, Originator Products; Vendor Alliances Increasing

Posted To: Pipeline Press

Do we really have nine more months until the actual election? While you’re answering questions, does someone in your office speak Spanish? Tagalog? Mandarin? Canine ? The minority homeownership rate rose to 48.6% year over year in the fourth quarter of 2019, up slightly from the fourth quarter of 2018, according to new data from the Census Bureau’s Housing Vacancies and Homeownership survey . This year over year gain is higher than the gain in the overall U.S. homeownership rate (up 0.3 percentage points to 65.1%) and marks the highest minority homeownership rate since 2011. (White homeownership stands at nearly 74 percent.) San Francisco has its share of minorities, lots of homeless people, a permit process that is one of the most onerous in the nation, and a mayor who is pushing…(read more)

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LO Jobs; Subservicing, Broker, Originator Products; Vendor Alliances Increasing
LO Jobs; Subservicing, Broker, Originator Products; Vendor Alliances Increasing

Q4 Mortgage Delinquencies Reach All-Time Low

Posted To: MND NewsWire

The fourth quarter report on mortgage delinquencies from the Mortgage Bankers Association (MBA) continues to show problem loans at historically low levels. MBA’s National Delinquency Survey puts the seasonally adjusted delinquency rate at 3.77 percent of outstanding loans. This was a 20-basis point (bp) decline from the previous quarter and a 29 bps year-over-year improvement. Foreclosure starts were unchanged at a rate of 0.21 percent. “The mortgage delinquency rate in the final three months of 2019 fell to its lowest level since the current survey series began in 1979,” said Marina Walsh, MBA’s Vice President of Industry Analysis. “Mortgage delinquencies track closely to the U.S. unemployment rate, and with unemployment at historic lows, it’s no surprise to see so many households paying their…(read more)

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Q4 Mortgage Delinquencies Reach All-Time Low
Q4 Mortgage Delinquencies Reach All-Time Low

Home Price Gains Picked Up Speed in Q4

Posted To: MND NewsWire

Inventory issues remain a major concern and are pushing home prices in urban America still higher. The National Association of Realtors’® (NAR’s) quarterly report on metropolitan home prices says 170 or 94 percent of the 180 metropolitan statistical areas (MSAs) it tracks, posted appreciation in their median home price during the fourth quarter of 2019. Ninety-three percent had gains in the third quarter. The national median existing single-family home price was up 6.6 percent from the median of $258,000 a year earlier. The annual rate of appreciation was 5.1 percent in the third quarter. “It is challenging – especially for those potential buyers – where we have a good economy, low interest rates and a soaring stock market, yet are finding very few homes available for sale,” said Lawrence…(read more)

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Home Price Gains Picked Up Speed in Q4
Home Price Gains Picked Up Speed in Q4

Here's a break down of Trump's Fed pick Judy Shelton's views on monetary policy

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President Trump's Fed nominee Judy Shelton will head to Capitol Hill on Thursday where lawmakers are likely to question some of her unconventional views on monetary policy. CNBC's Steve Liesman reports.

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Here's a break down of Trump's Fed pick Judy Shelton's views on monetary policy
Here's a break down of Trump's Fed pick Judy Shelton's views on monetary policy

Refi Demand at 7-Year High, But Rates Are Giving Back Coronavirus Gains

Mortgage rates have spent just over a week moving back up from the lowest levels in more than three and a half years. Those long-term lows came courtesy of the panic surrounding the coronavirus outbreak, which led investors to move more money into safe havens like bonds. When demand for bonds rises, rates fall, including mortgage rates. The move back up coincides with a steady decrease in the level of panic surrounding the outbreak. Global stock markets have not been shy about reversing coronavirus-related losses, with US stocks actually back to all-time highs. Chinese equities haven’t made up nearly as much ground by comparison. And finally, the bond market (which dictates interest rates) isn’t anywhere close to its pre-coronavirus levels. All of that having been said, rates are still moving
Refi Demand at 7-Year High, But Rates Are Giving Back Coronavirus Gains
Refi Demand at 7-Year High, But Rates Are Giving Back Coronavirus Gains

MBS RECAP: Bond Market's Simple Plan

Posted To: MBS Commentary

A few notes on the bond market's recent plans: First few days of 2020: Come into the new year ready for that break above 2.0% that everyone was expecting, but equally ready to react to unexpected geopolitical risk due to US/Iran conflict. Result: move to lower yields. Next few days of 2020: No war with Iran. Result: start moving back toward higher yields A few days after that: Detect the faint grumblings of epidemiologists identifying a new disease in China that sounds like it could maybe be like SARS. Result: stop pushing yields higher and wait for more info. Week ending Fri, Jan 24: Realize (along with the rest of the world) that this coronavirus thing could be serious. Result: set up shop as one of the most preferred safe-havens for the coronavirus panic trade. 2 weeks ago: kick that…(read more)

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MBS RECAP: Bond Market's Simple Plan
MBS RECAP: Bond Market's Simple Plan

Mortgage Rates Still Giving Back Coronavirus Gains

Posted To: Mortgage Rate Watch

Mortgage rates have spent just over a week moving back up from the lowest levels in more than three and a half years. Those long-term lows came courtesy of the panic surrounding the coronavirus outbreak, which led investors to move more money into safe havens like bonds. When demand for bonds rises, rates fall, including mortgage rates. The move back up coincides with a steady decrease in the level of panic surrounding the outbreak. Global stock markets have not been shy about reversing coronavirus-related losses, with US stocks actually back to all-time highs. Chinese equities haven’t made up nearly as much ground by comparison. And finally, the bond market (which dictates interest rates) isn’t anywhere close to its pre-coronavirus levels. All of that having been said, rates are still moving…(read more)

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Mortgage Rates Still Giving Back Coronavirus Gains
Mortgage Rates Still Giving Back Coronavirus Gains

Lot of headwinds if China factories aren't back up in next few weeks: Wells Fargo Securities

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Ike Boruchow, Wells Fargo Securities managing director, joins 'The Exchange' to discuss if the coronavirus outbreak could impact the U.S. stock market and why investors should worry about disrupted supply chains.

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Lot of headwinds if China factories aren't back up in next few weeks: Wells Fargo Securities
Lot of headwinds if China factories aren't back up in next few weeks: Wells Fargo Securities

The US economy can withstand coronavirus fears, strategist says

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Paul Zemsky, CIO of multi-asset strategies and solutions at Voya Investment Management, joins "Squawk Box" to discuss why he thinks the coronavirus outbreak won't affect the strong U.S. economy despite fears remaining strong.

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The US economy can withstand coronavirus fears, strategist says
The US economy can withstand coronavirus fears, strategist says

LO Jobs; Sales, Marketing, Broker products; American Borrowing stat

Posted To: Pipeline Press

Clients want LOs to be subject matter experts on products and current events. But what do lenders know about their LOs, their originator turnover rate, or what the age bracket is of the highest producing originators? More originators change jobs in the fourth quarter than any other quarter, about 36 percent. Of that 36 percent, of those who reported a reason, 78 percent reported leaving voluntarily. The first quarter is the lowest for changing jobs with about 14 percent leaving. According to STRATMOR’s Originator Census® Study, the originator turnover rate in the Retail channel was 35 percent in 2018; the 35-40 age bracket is the highest producing originator group and has a tenure of 2.6 years. And originators with less than five years’ tenure did a higher percent of purchase business…(read more)

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LO Jobs; Sales, Marketing, Broker products; American Borrowing stat
LO Jobs; Sales, Marketing, Broker products; American Borrowing stat