Mon, Jun 24 2019, 9:32 AM
I start the last week of June in Park City, Utah at a STRATMOR meeting and with a correction. In discussing tax laws in Saturday’s commentary I wrote,...
Fri, Jun 21 2019, 9:06 AM
That mortgage prices change every day, and often during the day, is about as surprising as sheriffs finding marijuana on Willie Nelson’s tour bus. Pri...
Thu, Jun 20 2019, 10:13 AM
“Enable” is such a vague, over-used tech term. The same with “repurpose.” But over the next 10 years Google is going to “repurpose” (aka, re-zone) a l...
Wed, Jun 19 2019, 8:51 AM
Good loan officers pay attention to demographics. For example, according to a new report from the United Nations, the population of the planet could r...
Tue, Jun 18 2019, 8:56 AM
With the backdrop of a global bond market rally today, let’s look back at Randy Newman singing, “It's money that matters, hear what I say. It's money ...
Mon, Jun 17 2019, 9:19 AM
I find builder’s naming policies amusing. Let’s call a subdivision “Hidden Valley” or “Lonesome Pines” when it isn’t hidden or lonesome anymore with 5...
Fri, Jun 14 2019, 9:05 AM
“The City of Baltimore, Maryland suffered a ransomware attack on May 7, 2019. Due to the attack, the City is currently unable to record documents unti...
Thu, Jun 13 2019, 8:49 AM
At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) are communic...
Wed, Jun 12 2019, 8:45 AM
In the tech world, the question of, “What is real, and what isn’t?” is becoming more of problem to determine than ever before. The latest is in re-pro...
Tue, Jun 11 2019, 8:17 AM
As I head to Kansas today, I have a great quote. Lenders I visit with are optimistic, raising margins to slow volume based on capacity constraints, an...
Mon, Jun 10 2019, 8:25 AM
This morning I find myself in Albany for the NYMBA conference and there is a lot of talk about the political situation, debt levels, and interest rate...
Fri, Jun 7 2019, 8:55 AM
Today is National Doughnut Day, but those in financial services are probably more interested in U.S. equities having their second-best day of the year...
Thu, Jun 6 2019, 10:31 AM
Here on the 75th anniversary of D-Day, recall that, “Those who cannot remember the past are condemned to repeat it.” One could easily follow that with...
Wed, Jun 5 2019, 8:54 AM
I was walking by a classroom recently and I overhead the teacher telling the 1st graders, “Let’s work really hard today – your parents are eager for d...
Tue, Jun 4 2019, 9:28 AM
What does $3.4 million buy you in Joisey? A 5,600 square foot house on 1.5 acres. In this case, it was the house owned by New Jersey’s Tony and Carmel...
Mon, Jun 3 2019, 9:35 AM
If you had $85 million you could buy 85 $1 million homes in as many countries, or one apartment in Manhattan’s West Side that includes two Rolls-Royce...
Fri, May 31 2019, 9:09 AM
Congress has become adept at kicking the can down the road, the latest example being, for the 11th time, passing a two-week extension for the National...
Thu, May 30 2019, 9:01 AM
My cat Myrtle’s direct exposure to the falling stock market is minimal. Mine, however, has become a sense of concern as I watch the value of my holdin...
Wed, May 29 2019, 9:28 AM
Lenders ask themselves, “Would you fund loans where people cannot buy or sell houses because they can’t check, or record, liens?” Probably not, and th...
Fri, May 24 2019, 9:03 AM
The Memorial Day weekend... Wasn’t it just Christmas? Let’s wrap up what’s on the front burner for execs at the MBA’s Secondary Conference as we see t...
Thu, May 23 2019, 9:09 AM
As millions around the globe revel in World Turtle Day, others are more interested about what went on the hallway chatter at the MBA’s Secondary Confe...
Wed, May 22 2019, 8:18 AM
What’s going on behind the scenes and in the rumor mill at the MBA’s Secondary Conference? There is derision about HUD’s Ben Carson not knowing what T...
Tue, May 21 2019, 9:33 AM
What’s the banter, and in the unverified rumor mill, at the MBA’s Secondary Conference? Fannie, Freddie, and FHA are all concerned about being adverse...
Mon, May 20 2019, 8:28 AM
Tony H. sent, “A conference is a gathering of people who singly can do nothing, but together can decide that nothing can be done.” Not at this MBA eve...
Fri, May 17 2019, 8:57 AM
A capital markets friend relayed this note recently received from an LO. “When do you think stated pick-a-pay products will come back? I have some bor...
Thu, May 16 2019, 9:34 AM
Lender Products and Services My AMC, LLC is pleased to announce the hiring of Carolyn Covington as Sales Account Executive working in the Dallas, TX o...
Wed, May 15 2019, 9:07 AM
As we nip at the lowest interest rates in 2019, banking regulators are directing their attention to the declining quality of certain farm loans . A Fe...
Tue, May 14 2019, 10:48 AM
What’s in a name? Lots. Try asking someone what “gluten” is. ( Here’s a comical look at that.) Try asking someone in our business what the difference ...
Mon, May 13 2019, 9:08 AM
I want an Ethereum-powered home loan! It doesn’t matter that I don’t know what Ethereum is; apparently they’re on their way to NY and CA . “Tokenizing...
Fri, May 10 2019, 8:50 AM
The Federal Housing Administration (FHA) announced a a package of incentives to encourage multi-family property owners to invest in thousands of neigh...
Thu, May 9 2019, 9:01 AM
Attributes like trust, humility, honesty, and transparency aren’t traits assigned to websites focused on originating loans. Human capital is valuable,...
Wed, May 8 2019, 9:00 AM
VA mortgage lenders hit with federal subpoenas ? Apparently. Secondary markets (the demand for loans and what investors are willing to pay for them) d...
Tue, May 7 2019, 8:36 AM
If you want to have more of your financial future tied to lending, PennyMac Mortgage Investment Trust (PMT) announced the pricing of an underwritten p...
Mon, May 6 2019, 9:09 AM
Welcome to May 6th, the anniversary of the first tequila hangover. (Yes, for those of you who wrote, I know that May 5 is not Mexican Independence Day...
Fri, May 3 2019, 9:08 AM
On the trading desk we would always chuckle when someone would occasionally cry out, “Oh! I was working so hard I forgot to eat!” Really? One thing is...
Thu, May 2 2019, 9:28 AM
I was on a flight yesterday to Orlando for the MBAG annual conference on the coast. The plane was packed, half with 4-13-year-old passengers bound for...
Tue, Apr 30 2019, 9:02 AM
Well, we’ve sailed through another perfectly good month. Wasn’t it just New Years? There are plenty of interesting things going on in residential lend...
Mon, Apr 29 2019, 9:08 AM
When I was a kid in California, as with my parents and their parents, and their parents, flowers and fruits had seasons. Roses bloomed in the spring. ...
Fri, Apr 26 2019, 9:26 AM
M&A is rampant, big and small, and is expected to continue throughout 2019. There’s a constant stream of individual branch or small company moves, but...
Thu, Apr 25 2019, 9:22 AM
In low down payment and HFA news, HUD, dba the FHA, has agreed to a 90-day stay in implementation of Mortgagee Letter 19-06 (regarding down payment as...
Wed, Apr 24 2019, 9:08 AM
How often do you buy candles at retailer Pier 1? Me neither. Due to poor earnings Pier 1 Imports announced it will close another 45 stores (up to 150 ...
Tue, Apr 23 2019, 8:57 AM
Should small, non-depository mortgage bankers be concerned about big banks renewing their interest in FHA loans? Probably. Bank of America is promotin...
Mon, Apr 22 2019, 9:19 AM
Remember NINA loans from 10-15 years ago where the lender would purposely discard anything in the file dealing with income because underwriters didn’t...
Thu, Apr 18 2019, 9:15 AM
Experienced originators know that lending is a numbers game. Every 100 cold calls result in 20 conversations, which result in 5 potential leads, which...
Wed, Apr 17 2019, 8:31 AM
Economic doldrums? Probably not – but there is always someone out there claiming dire straits are right around the corner. A CNBC survey of Wall Stree...
Tue, Apr 16 2019, 8:22 AM
Things aren’t always what they seem. Does the mainstream press, or politicians, think about how about how much money it takes to attract top talent to...
Mon, Apr 15 2019, 8:41 AM
M&A grab current headlines (Freedom buying JG Wentworth’s mortgage biz being the latest) but it’s hard to put the past behind us, as an industry, when...
Fri, Apr 12 2019, 9:04 AM
Loan officers everywhere tell me about “The Bank of Mom and Dad” helping buy homes , either through gifts or co-signing, helping overcome that down pa...
Thu, Apr 11 2019, 9:11 AM
Kim Kardashian has vowed to take and pass the bar exam in 2022 without attending law school. You go girl! Few who go that route pass the test. Then ag...
Wed, Apr 10 2019, 8:56 AM
“My 8-year-old daughter can already read at a 5th grade level and ignore me at a 12th grade level.” Talking about young ‘uns, who needs great grades w...
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