Forget mortgages… As snow hits the Upper Midwest and rain hits the East Coast, according to the USDA, nationwide frozen turkey inventories are 24 percent below the average three-year volume. Nothing to do with the Suez Canal, but the logistics of getting birds into freezers has been more tumultuous than typical, leading to frozen turkey prices increasing 26 cents per pound so far. Given there are an estimated 46 million turkeys eaten every Thanksgiving in the U.S., it adds up. Something else that adds up is the Mortgage Action Alliance: the grassroots voice of the real estate finance industry. It is your voice that helps protect your interests in key legislative and industry matters. Individuals helped delay and amend the FHFA 50 bps refi fee last year and much more. We always hear about how strong NAR is, but only one in five real estate finance industry professionals have their voice heard in Congress. Help us strengthen our collective voice even more. It’s easy: Join or renew your membership today to help add to our companies totals and strengthen the voice of our industry by clicking here. Or text “MAA” to 50457 to join as well. (The podcast version of the commentary, with bonus comments is available here and this week’s is sponsored by Candor Technology, helping underwriters and company improve underwriting effectiveness.)

Lender Products and Services

Quorum Federal Credit Union has lowered our HELOC margins to Prime + 0.70% at 90% CLTV for piggyback and standalone transactions up to $500,000. No minimum draw required. Additionally, Quorum offers a HELOC Express program for wage earners to $250K for a fast and easy closing.  An Investment Property HELOC and Bridge Loans are also available. We are very excited to announce the following additions to our sales team: Jim Sprick, National Sales Manager and Mitra Herron, Account Executive. Join the thousands of Loan Officers who have trusted Quorum Federal Credit Union to provide their clients with second mortgage financing. Visit for more information and to contact your AE.”

Last week, the Governor of New York signed a bill expanding CRA requirements to independent mortgage bankers, and other states have legislation pending to do the same. So what will you say when your regulator asks how you’re measuring your CRA performance? Do you know what percentage of your YTD closed loans fell within majority-minority census tracts? Do you know how many loans you’ve closed in Low- and Moderate-income census tracts? CRA Analytics by LenderLogix is a simple solution that uses real-time LOS data to deliver custom dashboards allowing you to manage your CRA compliance effectively. Visit their site to learn more today.

Get up to speed on how Accenture’s human + machine platform helped a mortgage lender reduce costs by $60M while simultaneously tripling its market share. This case study reveals there’s a powerful incentive to apply technology-enabled operational intelligence and fast-track to operations maturity. Those that reach the highest level of maturity become “future-ready” and the faster they get there, the greater the rewards.

You generated a ton of loans this year, but you’re fuzzy on where they all came from. How will you get the information you need to know in time for year-end reports? Enter Richey May’s RM Analyze, business intelligence designed by and for mortgage industry experts. Our platform consolidates data from every department and every piece of software you use. Need to know which loan officers are converting applications to funded loans? Get the answers in one click, plus intuitively drill down to all the details you need. Curious how you’re measuring up against your peers? Use our Peer View Ops functionality. Contact us today for a walk-through and custom RM Analyze implementation plan. 

Wholesale mortgage veteran James Hooper is pleased to announce that he and his team have launched Unite Mortgage. James has over 22 years of industry experience, serving as a C-Level executive for large TPO firms. Using this experience, along with his well-rounded product to process knowledge and a true passion for the broker community, James and team created Unite Mortgage with one primary focus: to help mortgage brokers reach more, do more, win more. Unite Mortgage is an industry leader in Pricing, Product Offering and Service as well as the home of the “One Rate Non-QM Series.” Watch this short Video on Unite Mortgage. To learn more and sign up with Unite Mortgage as an approved broker partner, visit

Clients are demanding a faster, more streamlined closing experience. Flagstar Bank is delivering it. With Flagstar’s new Hybrid eClose, borrowers can e-sign documents in advance within a secure cloud environment, leaving just a few items to ink-sign at closing that can be done in minutes. Borrowers get more security, visibility, and control. And that means happier clients for you. Flagstar is the nation’s sixth-largest bank mortgage originator, and Hybrid eClose is just its latest step towards our goal of fully digital closings. Some local limitations may apply, so talk to your AE today to learn more about Flagstar’s Hybrid eClose.

Events and Training

Today, Friday the 12th, join The Mortgage Collaborative’s Rundown with Rich Swerbinsky, the COO of The Mortgage Collaborative, and me as we are joined by Ben Miller, the co-founder of SimpleNexus to discuss current events in the mortgage market for 30-45 minutes at noon PT in “The Rundown with Rich and Rob.”

Delivering high quality educational content, National MI’s November training lineup includes

Business Planning – Create Your 2022 Roadmap - November 16th, Don't Just Manage Change - Drive It - November 17th, Freddie Mac’s CreditSmart® Tools & Resources - November 18th. Sign up to attend any of the National MI webinars on the MI University webpage.

Winterize your professional skills with ARCH MI complimentary webinars. November featured topic is the Self-Employed Borrower Five-Part Series. Gain a better understanding of business structures, cash flow and income calculation, including COVID-19 guidance.

How to Hold Title… and Why You’re Probably Giving the Wrong Advice. Register for Silicon Valley CAMP’s free webinar with Patricia De Fonte, Estate Planning Attorney on November 12 at 9:45am.

Registration is open for the 2021 Realtors® Conference & Expo in San Diego, November 12-15. Contact Troy Green to register.

In New Mexico, the NMMLA November Luncheon is on Tuesday the 16th, Tanoan Country Club. Contact Theresa Castellano, EVP, NMMLA, with questions or to reserve a table. NMMLA is “Bringing the Roundhouse to Your Doorstep” with New Mexico’s gubernatorial candidate Forum. Register for NMMLA's Live Luncheon from 11:00am MST - 1:30pm MST. Where candidates stand on important issues to you, your customers, and the industry!

Washington State’s WMBA offers, virtually, on November 16th, a renowned and inspirational speaker, coach, and strategic leader: Jon Cheplak. The event will focus on “Leading, Retaining, and Attracting Highly Productive Human Resources.” Special thanks to our Program’s Chair, Tonya Wortham, for continuing to secure these dynamic leaders to provide our members meaningful and relevant content that we can all benefit from in our daily lives!

If you’re in the Kansas City area on Thursday, November 18th, come on by! The MBAKC group is having its Membership Luncheon, in person on Thursday, 11:30 registration, at Hereford House Leawood location.

Register for the Michigan Real Estate Coalition’s Inaugural Meeting on December 1st.  Attendees will gain deeper insight into their peer associations’ priorities, acquire timely information, and build relationships with their cross-industry peers. Forum meeting begins at 9:00 am at the H Hotel in Midland, cost is $20 per person and includes lunch. One Day, Scores of Exhibitors, Dozens of Sessions, And One Blowout Holiday Party!

The Big Irvine Show Returns on December 9th - California Mortgage Expo. Plus Build-A-Broker, your NMLS License Renewal Class for free. 2022? Yup, it’s not too early to start planning!

The Mortgage Bankers Association has a slew of dates and locations set for 2022 to help attendees book flights and hotels, or at least note the dates on their calendars. It includes the IMB event in January in Nashville.

The California MBA has many conference dates set for 2022.

The Texas MBA also has much of 2022 set, including its annual convention in April.

NALHFA  announced its in-person 2022 Annual Conference, April 24-27, 2022, at the Hilton Midtown in New York City. Be sure to mark your calendars now. For questions, contact NALHFA at

#NEXTSPRING22 is May 1-3, live and in person at the luxe Hotel Crescent Court in Dallas. In addition to gathering on site at the luxe Hotel Crescent Court, at-home attendees will be integrated with an incredible virtual experience that will truly make people feel included, even if they can't be there in person. As a sponsor, your reach and connection are going to be even greater than before. View #NEXTSPRING22 Self-Serve Sponsorship Store for available sponsorship packages. Contact Vanessa Williams with additional questions by phone (203) 509-9327, Email or LinkedIn.

ACES Power User Two-Day Summit has evolved to include non-ACES users with the launch of ACES ENGAGE, a conference designed to bring together the nation’s top financial services quality management professionals to discuss industry trends and best practices. Taking place at the historic Broadmoor Hotel in Colorado Springs on May 23-25, 2022, sessions will include a mixture of general session presentations, panel discussions and breakout session tracks for mortgage lending, loan servicing and consumer lending. For more information, visit or call 1-800-858-1598.

Capital Markets

The market giveth, and the market taketh away. Wednesday, when last the bond market was open, we saw U.S. consumer prices rose last month at the fastest annual pace since 1990, up 6.2 percent from October 2020. Energy prices drove the month-over-month increase, but we are seeing increases in categories outside of reopening, like shelter, food, and vehicles, cementing high inflation as a hallmark of the pandemic recovery and eroding spending power even as wages surge. Many at the Treasury and the Fed still believe it won't persist beyond next year and expectations are that the Fed will act if needed to prevent a rerun of the 1970s. Those inflation readings, coupled with awful demand on the day’s $25 billion 30-year bond auction, caused Treasury yields to spike as the Fed may be forced to taper more substantially or hike interest rates faster than anticipated.

The Mortgage Bankers reported that the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.88 percent of all loans outstanding at the end of the third quarter of 2021, according to its National Delinquency Survey. For the purposes of the survey, MBA asks servicers to report loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage. The delinquency rate was down 59 basis points from the second quarter of 2021 and down 277 basis points from one year ago.

The bond market returns today to a couple of important economic indicators, JOLTS job openings for September and preliminary November Michigan sentiment, both out later this morning. Today’s lone Fed speaker sees NY Fed President Williams delivering remarks. The Desk will conduct the last two operations on the current schedule when they purchase up to $5.95bn 30-year 2 percent and 2.5 percent before releasing a new two-week purchase schedule as well as the mid-November to mid-December MBS purchase estimate in the afternoon that will reflect reductions from the recent tapering announcement. We begin Friday with Agency MBS prices worse a few ticks and the 10-year yielding unchanged after rising +13 bps on Wednesday to 1.56 percent.


Careers, Title Franchises, and Team Available

A very successful and established national TPO lender is looking for an energetic and driven Regional Manager and team of Account Executives to continue to drive the Company’s tremendous growth. The Company is a FNMA/FHLMC/GNMA seller/servicer and retains nearly all of its servicing in-house. The TPO team benefits from the ability to sell three lines of business within unsaturated markets across the country, as well as a very a competitive comp/benefits plan and a supportive organization that operates like a family. Success at this company is driven by a culture of teamwork, experience in TPO and an understanding and appreciation for the outside sales model. Tired of being lost in the shuffle of big company changes and lack of direction? If this sounds like the opportunity that you and your team have been looking for, please contact Anjelica Nixt for more information and to arrange a confidential conversation. (Please specify opportunity.)

If you’re wanting to take your originating career to the next level, we will get you there! In most cases, when an originator hits a plateau, it’s because the platform they are in doesn’t allow them to grow beyond what they’ve already achieved. One of the Top Originating teams in the nation is looking to help one originator achieve their goals and reach the next level of their career. Looking for a new opportunity is scary, but when that opportunity has a proven track record, a dedicated operations team that closed over $190M last year, fear turns into excitement! Top producers have some advantages not available to everyone. It’s time to give yourself those same advantages, start dominating your market, and take your career to the next level. If you close $35M or more per year and are looking for a breakthrough, contact Anjelica Nixt to schedule a confidential conversation. (Please specify opportunity.)

As markets contract in 2022, what are you going to do? Invest in a title and settlement services franchise and enjoy a new revenue stream! TitleEase is a title and settlement services franchise business that provides a simplified, streamlined path for mortgage originators, servicers, and real estate professionals to own and operate a title agency. What’s more, you can do it without the burden and expense of building a platform from scratch. With TitleEase’s fully RESPA-compliant franchise model, you can avoid the complexities and compliance risks of a joint venture with an easy, turn-key solution. And its built-in financial transparency allows you to control costs while you control the customer experience – so you can better ensure their complete satisfaction. It’s a great way to retain customers too. We’re visiting with prospective franchisee partners now. Click here to learn more or email Joe Durso  to set up an informational meeting.

Come grow with Sprout. Sprout Mortgage is a fast-growing lender with national scale, now expanding its client-focused mortgage solutions into a retail sales channel. Sprout offers a traditional set of mortgage products, but more importantly, Sprout has an industry leading set of non-QM products that position loan officers well for the next business cycle and beyond. Sprout has what high performing loan officers want, from product, pricing, technology, marketing, and recognition – collectively, it has what’s needed to create opportunities for a loan officer to grow. Sprout is actively growing this retail channel via direct-to-consumer outreach, brick-and-mortar retail facilities, and strategic joint ventures in local markets throughout the country. If you are looking for an opportunity to grow in a place that offers tremendous flexibility to meet your client’s needs, contact Cheri Brousseau at 888-505-7568.

Assurance Financial is looking for top-producing, entrepreneurial branch managers in the southeast and eastern regions of the U.S. We are closing out our 20th year strong with no intentions to slow our growth or production momentum. If you are a true leader and an established pro in your market who wants to grow your origination opportunity, Assurance Financial is the perfect match for you. We offer a high level of operating autonomy, an aggressive compensation model, and a world-class operations team that will close all your loans on time, every time. Our technology stack guarantees a seamless application intake, improves closing delivery time, and features an integrated CRM with turn-key marketing solutions. We have everything it takes to exceed the expectations of your clients while giving you and your team a great environment to balance family and business life. Let’s talk! Contact Paul Peters, CMB or visit to learn more.”