Thu, Oct 20 2022, 9:08 AM
While we had news today of the British Prime Minister resigning, yesterday my doctor asked if anyone in my family suffers from mental illness. I repli...
Wed, Oct 19 2022, 9:24 AM
Here in Orange County, the mortgage talk runs the gamut. Sure, a recession would cause rates to drop, but before that happens, are residential lenders...
Tue, Oct 18 2022, 9:40 AM
Do you think putting together a loan is tough? How ‘bout a giant skeleton in your front yard? This dedicated individual has documented the process of ...
Mon, Oct 17 2022, 9:35 AM
There’s a splendid joke about the definition of an economist being someone who “will know tomorrow why the things they predicted yesterday didn't happ...
Fri, Oct 14 2022, 9:44 AM
Camping: “where you spend a small fortune to live like a homeless person.” Lenders have done a remarkable job in the last few years trying to reduce h...
Thu, Oct 13 2022, 10:13 AM
Why aren’t there 103’s on rate sheets? With 30-year mortgage rates firmly in the 7 percent range, the market has moved too fast for any kind of substa...
Wed, Oct 12 2022, 10:15 AM
Borrowers will bear the brunt of this, but rumors from several sources have Fair Isaac planning on giving most residential lenders an early Christmas ...
Tue, Oct 11 2022, 8:59 AM
Here in Louisville, at AgFirst’s Correspondent Lending Conference, much of the discussion involves going after builder business (“focusing on how fast...
Fri, Oct 7 2022, 9:17 AM
While investors who “jumped the gun” on establishing their own conforming conventional loan limits ahead of the official proclamation at the end of No...
Thu, Oct 6 2022, 10:00 AM
One can always focus on lending activity hitting a 25-year low, or the once mighty loanDepot reducing its own liquidity or handing raises out to execu...
Wed, Oct 5 2022, 9:21 AM
Yogi Berra, when asked about staying in a particular hotel, replied, “The towels were so thick there I could hardly close my suitcase.” I’ve attended ...
Tue, Oct 4 2022, 9:02 AM
Now we have a butter shortage raising prices ahead of the holidays. Great. While margarine makers are licking their chops over the news, vegans and ot...
Mon, Oct 3 2022, 10:12 AM
This is the start of Fat Bear Week. (My money’s on Popeye.) Those poor bears don’t have much privacy, and it turns out that neither do humans. Consume...
Fri, Sep 30 2022, 10:41 AM
If you’ve ever had to hire people, did you sort your applications into three piles: Mad, Hopeless, or Possible? For his Antarctic expeditions, Ernest ...
Thu, Sep 29 2022, 10:45 AM
Water is a powerful force: just check out this time lapse storm surge video from Ft. Meyers in Florida. Turning to metaphors, Sun Tzu said, “If you wa...
Wed, Sep 28 2022, 9:46 AM
As Florida’s homeowners, insurance companies, and companies that service loans in Hurricane Ian’s path, brace for the storm, lenders nationwide contin...
Tue, Sep 27 2022, 10:17 AM
Yesterday, before the yield on the risk-free U.S. 2-year note rose to 4.25 percent, I mentioned my cat Myrtle being offered a big signing bonus by the...
Mon, Sep 26 2022, 9:18 AM
The big news in the Chrisman household is my cat Myrtle being offered a big signing bonus by the family next door. Apparently, word of her mousing pro...
Fri, Sep 23 2022, 9:33 AM
Tip-jar humor seen here in Chicago at a coffee shop: “Afraid of Change? Leave It Here.” Sure recessions typically mean lower rates, but are you okay w...
Thu, Sep 22 2022, 10:24 AM
All eyes have been on the Federal Reserve this year, but for independent mortgage banks, the focus has been on maximizing production and minimizing ov...
Wed, Sep 21 2022, 9:42 AM
It’s Fed decision day today and another 75-basis point rate hike is expected. Mortgage rates have surged to 14-year highs, deterring both buyers and b...
Tue, Sep 20 2022, 10:19 AM
One issue currently facing the mortgage industry is a lack of supply, or as rapper Cardi B said over the weekend in her analysis of high home prices a...
Mon, Sep 19 2022, 10:02 AM
In the words of former Vice President Dan Quayle, “We are ready for any unforeseen event that may or may not occur.” Around the world, soaring borrowi...
Fri, Sep 16 2022, 10:10 AM
With most mortgage related headlines focused on rates being back above 6 percent for the first time since 2008, it makes sense that 67 percent of mill...
Thu, Sep 15 2022, 9:59 AM
It really is the hope that kills you. That phrase, which was coined by English football fans and is probably more well known in America among Ted Lass...
Wed, Sep 14 2022, 10:31 AM
With inflation likely causing the Fed to keep hiking rates aggressively (more on that in the Capital Markets section at the bottom), many people in ou...
Tue, Sep 13 2022, 9:54 AM
With the Fed set to end its MBS purchases tomorrow, removing free money from the MBS market, where do you think home affordability will go from here? ...
Mon, Sep 12 2022, 10:45 AM
Does evolution lead to success? Major League Baseball is banking that instituting a pitch clock and banning defensive shifts starting next year will l...
Fri, Sep 9 2022, 9:48 AM
Whether it is independent mortgage banks or companies with the largest market caps in the world, new products are being developed and rolled out to he...
Thu, Sep 8 2022, 9:57 AM
California is currently going through a heat wave (Sacramento set a temperature record on Tuesday at 116°), taxing the state's power grid as energy de...
Wed, Sep 7 2022, 9:50 AM
The mortgage industry has come a long way from March of 2020, when the Federal Reserve pledged to buy “unlimited” amounts of Treasuries and MBS to sta...
Tue, Sep 6 2022, 10:26 AM
Now that we have passed the unofficial end of summer, am I allowed or not allowed to wear white on Zoom calls before 2023’s Memorial Day? Maybe darker...
Fri, Sep 2 2022, 10:29 AM
We have witnessed a change in our work environment. From the Central Coast of California, Jeff O. sent, “Yesterday I had convened a zoom meeting of ma...
Thu, Sep 1 2022, 10:07 AM
Tony H. writes, “I just switched my 30-year home mortgage to ‘student loan.’ Follow me for more financial advice.” I have been fielding questions abou...
Wed, Aug 31 2022, 10:49 AM
My cat Myrtle has a certain amount of “girth,” as they say. But I tell her that she carries it well as the calories from line-caught halibut have far ...
Tue, Aug 30 2022, 9:54 AM
Nature “always bats last.” Terrible flooding in Pakistan, flooding in Mississippi impacting its drinking water supplies. Severe temperatures in China,...
Mon, Aug 29 2022, 10:43 AM
Remember a few years ago when lender’s IT departments were thinking that blockchain was the answer to… whatever problem they thought it would answer? ...
Fri, Aug 26 2022, 10:03 AM
Abraham Lincoln famously stated, “Don’t believe everything you read on the internet.” There are always rumors out there. The latest to cross my desk, ...
Thu, Aug 25 2022, 10:14 AM
Nothing is simple or easy in this world. Take pine nuts. Simple, easy, right? Nope. A staple of pesto, and some salads and desserts, those in the Unit...
Wed, Aug 24 2022, 10:36 AM
Lenders continue to adapt, and LOs are adding value by being subject matter experts and marketing accordingly. (For example, today’s podcast features ...
Tue, Aug 23 2022, 10:33 AM
Mortgage rates dropped after mid-June. Momentarily switching gears, given their role in cakes, breakfasts, custards, and breads, if eggs didn’t exist,...
Mon, Aug 22 2022, 10:35 AM
John Kenneth Galbraith said, “The only function of economic forecasting is to make astrology look respectable.” How about forecasts of how dramatic th...
Fri, Aug 19 2022, 10:37 AM
“The officer said, ‘You drinking?’ I said, ‘You buying?’ We just laughed and laughed.... It’s Friday morning and I need bail money.” No one ever struc...
Thu, Aug 18 2022, 10:45 AM
Today is World Breast Cancer Research Day, a global recognition of the life-changing research (past, present, and future) to end breast cancer. That w...
Wed, Aug 17 2022, 10:09 AM
In Florida there are approximately 3,000 lakes, not enough to make it onto the leader board of states with the most named lakes (Minnesota, Wisconsin,...
Tue, Aug 16 2022, 10:03 AM
“Common sense is not a gift. It's a punishment because you have to deal with everyone who doesn't have it.” This is a tough market, and common sense u...
Mon, Aug 15 2022, 10:43 AM
Florida is the source of a sizeable percentage of home loans and fine lenders, as well as plenty of “Florida Man” stories. (Don’t read if easily offen...
Fri, Aug 12 2022, 10:43 AM
Loan officers who’d like to learn a thing or two about the current prospecting environment are invited to listen in today at 2PM CT/noon PT as Steve R...
Thu, Aug 11 2022, 10:33 AM
We began 2022 thinking that this might be the “Year of Non-QM.” The product certainly has its advantages for some borrowers, and lenders & investors. ...
Wed, Aug 10 2022, 10:40 AM
Big and small, they aren’t the first and won’t be the last. Residential lenders everywhere are ruminating on Notarize laying off 75 percent of its leg...
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