The person is Rob Chrisman.
National Donut Day is celebrated while the lender grapples with increasing agency requests. State Farm Insurance might change their minds about cutting off property insurance in California if someone offered them a donut. I wonder if Florida home owners should be happy with their insurance even though it's four times more expensive than the national average. Good luck if you build near the coast before Hurricane Andrew. It is fine for the Biden Administration to call for more affordable housing, but what about where there is no land or a community limiting development due to running out of water? One of the largest mortgage co-ops in the country with a diverse mix of 250+ member companies and providers of an end-to-end solution Independent mortgage professionals trust to drive profitability is sponsoring this week's show. Experience-driven automation should matter to financial institutions, according to an interview with nCino.
There are products and services for the lender and broker.
It's time to schedule your firm's annual report. The annual review is required of every member. If your firm had more than 1,000 active MINs on March 31, 2023, you must submit the results of the annual review by December 31st. If you want to save money, sign up early for a MERS Annual Review and give TENA all of the documentation by August 31st. The last minute rush is not advisable. If you want to make sure that your firm is in compliance, contact TENA. There is a full range of reviews, including data reconciliation and document reviews. Since 1982, TENA Companies has been the trusted source for Mortgage Quality Control Audit Services and Software.
“Experience for yourself what NexBank’s Wholesale, Non-Delegated Correspondent, and Delegated Correspondent clients have to say: ‘Everyone from AE to Underwriter and in between is amazing to work with all around.” and “I have been doing this a long time and have done a ton of loans and I finally feel like I found a team that cares about my clients as much as I do.’ NexBank’s goal is to make our TPO clients successful as we continue to roll out new, competitive products –> Announcing NEW pricing improvements on low loan balances to further promote affordable homeownership (< $275K) by introducing a Loan Balance Adjuster on Agency Conforming 30- & 25-year products, with certain restrictions. Plus, Escrow Holdbacks are now Eligible with Conforming Conventional, Mortgage Connect Full Doc and Non-QM, allowing our clients to close more loans in a timely manner. Contact us today. Member FDIC, Equal Housing Lender, NMLS 672886.”
Are you looking for marketing assistance? Seroka has you covered. Seroka Brand Development is the leading marketing and PR firm in the mortgage industry. Seroka has over 30 years of experience in the marketing and PR industry. Seroka can help with project work, a new campaign, or outsourcing your entire marketing department. Content marketing, digital marketing, social media, strategic planning, public relations, and campaign measurement are some of Seroka's specialties. The goal is to drive the best return on investment. Seroka is able to boost search engine rankings, improve engagement, and generate more leads. Seroka Brand Development can help you achieve more with less resources. Call Seroka and see how they can help you.
enderful Solutions is excited to announce our latest release, with the support of Joe Rinner at Watermark Capital Reverse, a POS solution specifically to guide borrowers interested in a reverse mortgage Convenience and control are what this solution provides. A borrowers can learn about their options, shop displayed calculate benefits based on their situation, and apply for a reverse mortgage in minutes. The data is delivered to the reverse mortgage system. Loan officers can continue to humanize the experience with the help of lenderful solutions. You can use automation tools like AVM, VOE, VOA, VOI, and Credit Pull to give borrowers insurance for home or auto. If you'd like to learn more about our solutions, click here or contact us at (313) 910-3070.
Tpo and wholesale news.
News from third party investors can fall into neat categories. Let's see who is doing what when it comes to policy and procedure changes.
There is an additional level of loan processing support offered by the PA+ service. When an LO or processor orders PA+, they'll get a dedicated UWM Loan Coordinator who will work with them and their borrowers to help ease some of the most time consuming parts of the loan process. Independent mortgage brokers who work with UWM will be able to link their Loan Origination System (LOS) platform to UWM's EASE system through the UWM portal. The need to reconcile information during the loan will be eliminated with this.
FEMA granted individual assistance to the county that was impacted by the flooding in California.
Ameri Home reviews the most common reasons for the IRS rejection of the new Form 4506-C and gives some best practices and tips for successfully executing it. There is a product announcement for Ameri Home.
CalHFA loan options have been extended by brokers. CalHFA conventional, government and my home assistance are offered by Kind Lending.
The Home Equity Loan1 is a product of Rocket Pro TPO Partners. The first mortgage structure can be adjusted by clients. You can compare a Home Equity Loan to a cash-out refi with our calculator.
It's possible to save clients thousands of dollars on their mortgage by using another tool from Rocket Pro TPO. The credit upgrade program is really effective. Credit upgrade saved clients millions of dollars on their mortgage payments.
The roll out of six fixed-rate jumbo products was announced. Jumbo pricing and transparent investor guidelines have been added to the list of benefits for brokers. The conventional 1 percent down product was expanded to 80 percent. Independent mortgage brokers are supported by UWM with industry-leading training and technology.
Navigating Form 4506-C: Insights and tips for completing is one of three new announcements posted by thePennymac Correspondent Group.
Effective for Best Effort locks, Citi Correspondent Lending implemented changes to the schedule. The two changes are related to the same area. The agency premium is going up. The non-agency best efforts grid is being added to.
The capital markets.
The news that the House and Senate passed a bill to raise the debt ceiling pushed investor sentiment and led to a third day of gains in the bond markets. The relief comes as a result of the fact that mortgage rates hit new year-to-date highs last week.
The May ISM Manufacturing Index fell into contractionary territory, the seventh consecutive month of contraction in manufacturing activity. The production index climbed back into expansionary territory, giving hope for an improvement in the coming months A downwardly revised 291k jobs were added to private sector payrolls in April, but the employment change report for May showed an estimated 278k jobs were added to private sector payrolls. Pay growth is slowing while job growth is strong. The strength in the labor market is reflected in the weekly initial jobless and continuing claims report, as businesses are reluctant to cut staff in large numbers, leaving the level of initial jobless claims well below what is typically seen in a recession.
The first quarter Productivity and Unit Labor Cost report showed that productivity was weak and unit labor costs were higher than expected. The increase in total construction spending in April was better than expected. Strength in private and public spending was more important than weakness in new single- family construction. Spending on construction was up over the course of the year.
According to BofA's Bill Bekery, by nearly every metric these have been a resounding success in terms of execution, clearing level, and both dealer and customer participation. We think that an announcement is imminent for round two of reverse inquiry, which will bring us closer to the end date of the sell program. We have seen 20-year pools stand out as a stellar performer. There has been strong customer demand for pools.
Many other sectors are trading less well as of late, and $200-275k balance pools as well as FICO/LTV/ investor have struggled to find footing in production coupons. The loan balance is somewhat of a no-mans-Land sector. The Fed and banks are net sellers of 70 percent of the outstanding agency mortgage-backed securities. That continues to be an area of concern for mortgages, as well as impatience by monetary policymakers regarding the lag effects of 500 basis points of rate hikes and/or a restart of the banking crisis resulting in additional bank portfolio liquidates.
The important May jobs report will be released today. The unemployment rate jumped from 3.4 to 3.7 percent when it was seen to be at 3.5 percent, as non-farm payrolls increased by 341k. It was expected that hourly earnings would be +.3 percent. There aren't any other economic releases planned for today. The 2-year yield increased by 33 basis points in May and the 10-year yield increased by 19 basis points. The 10-year yield is 3.64 percent after closing yesterday at 3.61 percent, and the 2-year yield is 4.40 percent after closing yesterday at 4.40 percent.
Transitions and employment are related.
This year is the 30th anniversary of Equity Resources and they are very proud of it. Many lenders are cutting staff and uncertain about their future, but we are creating opportunities for our award winning loan officer team. We are looking for loan officers who are career focused. There are 19 states where Equity Resources is licensed. A media and video production team is included in the marketing platform we offer our loan officers. A full suite of loan products and programs is offered by us. If you are frustrated with the direction of your mortgage banking career and not getting the support you deserve, please contact Tom Piecenski, Executive Vice President of Sales and Development.
A Louisiana based full-service, independent mortgage bank averages $1 billion in production annually and is looking for a retail sales leader to run all their business development initiatives. The sales, recruiting, and marketing departments will report to the head of business development role. A proven track record of hiring and managing production offices is what the ideal candidate will have. The IMB is well capitalized, has agency direct approvals, offers niche products, and has a world class operations team. Please email your resume to Anjelica Nixt.
Phil Shoemaker has been named the new CEO of The Loan Store. On April 7th, The Loan Store entered into a definitive agreement to acquire certain assets of Homepoint. Mark Lefanowicz has been the president and CEO of The Loan Store for the past year.
