Most believe that the mortgage originator will always be a required component due to the complexities of a mortgage loan process. (Originators) Although technology can help to acquire and process information, many consumers still want someone available to walk them through the process, available, when needed, to answer questions and provide guidance. Many believe, for this reason alone, the originator…
As Jimmy Durante used to say, “Everybody wants to get into act.” Lately, it seems like everyone has an opinion on the Fed’s rate outlook. Rising, steady, who knows! This time, it’s former Fed Chair, Alan Greenspan. When Mr. Greenspan talks about the economy and setting the Fed rates, most people listen. This time, he says rates are due to…
How intimidating is the world of pipeline hedging? Have you ever stood before an audio mixing console in wonderment? The world of audio and hedge systems are related more than you may think. Mortgage originators want to price loans in such a way to make a profit margin. Pipeline risk managers endeavor to keep most of the margin with little…
I’ve read recent articles and blogs that run the gambit from historic low rates, a recovering housing market, refi’s are up, refi’s are down, decreasing purchase loan applications, less affordable housing, and tighter credit standards. One week the markets look great, the next everything’s going in the wrong direction. Is the economy growing, shrinking or stagnant? Do we have more…
Recently, I responded to some questions posed by one of our trade publication, Mortgage.Orb, about CFPB’s proposed changes to the Know Before You Owe, rules (TRID). One of these questions asked about CFPB’s decision to not address the current ‘cure’ options under the new rule. This is of major concern to many lenders and understandably so. CFPB believes in trying…
With the drop in rates resulting from Brexit, we saw a resurgence of refinancing activity. This seemed to bode well for mortgage lenders, but not so for everyone. A recent report from a la mode, a leading provider of appraisal software, shows that appraisal volume is actually down. Why so, with such low rates and so much refi activity? Could…
