How long will venture capital firms enjoy being in a declining margin business like residential lending, historically dominated by individual, family, or employee-owned companies? As rumors and unpublished news swirl about well-known lenders losing agency approval, laying off staff, being acquired, or closing their doors, especially west coast wholesalers, there is innovation. “Create Your Profile, Enter Your Loan Programs, Get Quality Leads for Free.” Leads for free? Not known to be consumer facing, yesterday the Scotsman Guide Media introduced Ask a Lender, "a unique online platform that uses powerful lender-matching technology to connect you with quality borrower leads - for free."



As the market continues to shift towards home purchases, success won't be about rate, it will be about experience. Maxwell recently released a new industry paper, "Happy Borrowers: Achieving Financial Success with Customer Satisfaction," which explores new research that highlights the three driving factors of borrower satisfaction and how it's linked to financial return. A great read for all mortgage leaders and their teams.  Download your free copy here.

Floify, the mortgage automation software for modern LOs, has been investing heavily in their popular apps and integrations to make their solution a more convenient, one-stop-shop for its 250,000+ users. Floify's existing suite of apps and integrations includes Equifax's Trended Credit*Hi-Lite and The Work Number, Hippo Insurance, ScoreReturn, AccountChek, and DocuSign, among others. Floify's offerings provide everything from credit reporting and VOE/VOI, to credit repair services and homeowner insurance quoting - all easily accessible from the Floify dashboard. Floify's upcoming LOS and CRM integrations are guaranteed to set the mortgage automation bar even higher. If you've been considering Floify, now is a great time to take advantage of this powerful mortgage solution. Don't wait, experience how Floify has helped LOs close loans an average of 8x faster and increase annual loan volume by more than 11%. To see Floify in action and lock in your 25% discount, request a live demo.

In the vendor space, LoanLogics announced Craig Riddell has been promoted to EVP, chief business officer. Riddell will be responsible for establishing and developing ongoing relationships with clientele, growing the company's LoanHD AppQ Network of data services and integration partners, as well as overseeing the LoanLogics' account management and consulting services teams.

Capital Markets

Another day, another flattening of the yield curve. The difference between the yield on the 2-year and 10-year U.S. Treasury has decreased than 70 basis points in the last year. Gradually some are using the "recession" word - in the past sometimes the result of a flat yield curve. But Goldman Sachs expects that four rate hikes will take place in 2018 due to a strong economy. Place your bets! For the day, the 2s10s spread narrowed five basis points to 52 bps while the 2s30s spread contracted six basis points to 90 bps.

In other exciting news, Jay Powell's nomination to replace Fed Chair Janet Yellen cleared the Senate Banking Committee. There are no concerns about Mr. Powell's ability to be confirmed by the full Senate. Factory orders for October showed that business spending is increasing to help drive stronger GDP growth, and the ISM Non-Manufacturing Index showed that business activity in the non-manufacturing sector is still expanding, but at a somewhat slower rate that is still consistent with 3.0%+ real GDP growth.

Mortgage prices did well relative to Treasury prices - a good thing. The 10-year note price improved nearly .250 to yield 2.36% while agency MBS prices improved nearly .125.

This morning we've seen last week's residential applications (+4.7%, refis +9%, purchases +2%), as well as the ADP employment report (+190k, as expected). Also out was Q3 (final) productivity (3%, unchanged) and unit labor costs (surprisingly down). After the numbers rates are down versus last night: the 10-year is yielding 2.32% and MBS prices are better by .250.


"Looking for a challenge that will satisfy your desire for career success? Want a position where you will be developing and initiating the game-plan? The William Fall Group is seeking a self-motivated professional interested in driving business growth while building a best in class team. An individual experienced and well connected in residential appraisal field. Our firm is looking to rapidly expand our employee appraiser staff throughout the USA in response to significant client demand. We want a leader that can manage the challenge of growing revenue opportunities while strategically hiring dedicated and skilled residential appraisers. Respond today to Nicki Brazeau, HR Manager. College degree preferred. Minimum of 5 years of direct industry experience."

Supreme Lending, a top 20 Mortgage Lender in the country, is rapidly expanding in Southern California. Supreme has recently opened 3 offices in Orange County and are seeking talented Senior and Junior Level Loan Processors, as well as Area Managers in LA, Orange and Riverside counties. "If you are an Area Manager, producing Branch Manager, or Loan Agent looking to double your loan business through technology, state of the art CRM platforms and local business decisions, contact us. Supreme is a direct seller servicer for Fannie Mae, Freddie Mac, Ginnie Mae, offers competitive loan products and utilizes technology to achieve a 96% Customer Satisfaction rating. With almost $8B in funding's in 2016, Supreme is poised for growth and looking to add talent to achieve that success." Please send a confidential email to 

"Built by Originators for Originators, PRMG Retail continues to expand its footprint nationwide by opening 6 new branch locations during the month of November!  Along with the drive and ambition to bring the American Dream of Homeownership to all cities across the country, PRMG has now opened its doors in Modesto, CA; San Bernardino, CA;Wellington, FL; Des Moines, IA; Tulsa, OK and Mufreesboro, TN.  PRMG is devoted to growing their retail platform and is always looking for motivated Loan Originators to support the mission to being 'Progressively Better in All that They Do.' Voted TOP 5 of the 50 Best Companies to Work for in America, No. 1 Best in the Desert 2017, NMP Visionary Organization 2017, CAMP Corporate Affiliate of the Year 2017 and TOP 25 of 100 Mortgage Companies in America! PRMG employs over 1,600 people!  If you're ready to join a top-tier team and company, then it's time to talk!  Contact Chris Sorensen (909.262.0452)."

Caliber Home Loans, Inc., "America's fastest growing mortgage company," applauds the FHFA's announcement to raise the maximum loan limits for 2018. The resulting increase of 6.8% is the largest move made since the pre-crisis era, as well as the second consecutive annual increase. Prospective homebuyers now have more purchasing power with conforming loan limits of $453,100 and higher cost areas up to $679,640. "Caliber is the nation's premier purchase lender-and as interest rates are still hovering at historical lows, now is a great time to help more families realize the dream of homeownership. As the industry continues to experience positive changes, Caliber is committed to growing its national distribution force. If you're interested in joining one of the nation's top mortgage companies, visit Caliber or contact Jeremy DeRosa."