Rob Chrisman

Why am I a sucker for stories like, “What Do the Twins in the Shining Look Like Now?”? Is the American public a sucker for not being more concerned

Why am I a sucker for stories like, “What Do the Twins in the Shining Look Like Now?”? Is the American public a sucker for not being more concerned that no politician seems concerned about the burgeoning deficit? Will there be any “fiscal conservatives” in Congress, or the White House? Here in Dallas, one of the topics, of course, is the election. Yesterday stocks rallied and rates both dropped, reminding us that they don’t have a consistent inverse relationship, mostly on removing the uncertainty about the election. Where do we go with reducing regulatory burdens for credit-worthy borrowers, a mandate for the CFPB, FHA/VA, or banking regulators? What might happen to TRID, RESPA, Truth in Lending, or ATR? Will ink signature requirements go away? Perhaps. What about credit and appraisal policies? Will we see an expanded role for Federal Home Loan Banks? Lots of questions for a Thursday; see below for the MBA’s communication plan. (Today’s podcast can be found here. This week’s ‘casts are presented by FirstClose, which helps financial institutions grow a successful home equity business with innovative solutions that minimize application drop-off, automate time-consuming processes, and reduce time to close from weeks to days. Today’s has an interview with True Footage’s Jeremy Potter on how technology and structured property data are transforming home appraisals by streamlining data collection, improving valuation accuracy and lender risk assessment, and allowing licensed appraisers to focus more on expert analysis and complex properties.)

My cat Myrtle never cared about voting, or its impact on the CFPB, but David U. from the MBA answers the question about why the vote counts in Mississippi are going to slow. “Well, because they have to say ‘One Mississippi, two Mississippi' after each vote counted.” I received this note from a senior mortgage manager in Tennessee. “

Lenders and servicers, and the public in general, continue to be reminded of the importance of water: too much too little , or too dirty.

All of you out there wishing there were fewer people on the roads or in line at the post office, take heart. Lenders with a long time horizon, not so much. Apparently, even paradise is having

“I found a 95 year old painting in my attic. I asked him to leave.” Humor aside, many people have been asked to leave places like Fannie Mae, Freddie Mac, Go Mortgage, Onity, and others. It isn't surprising, and the reductions are, in fact, a sign of the times given the time of year and the rate environment. That said, “finding success elsewhere” might just be what happens for those cut, and other lenders are using sources like RETR, mLoop, MMI, and Model Match (this list is by no means exhaustive) to take granular looks at LOs and their fundings, extension, price concessions, and profitability. A broadbrush statement like, “I'm calling on real estate agents to find business” may not be the best path forward. One experienced LO wrote to me saying, “Any originator needs to find out which agents are actually doing business and focus on those. NAR puts out

“I found a 95 year old painting in my attic. I asked him to leave.” Humor aside, many people have been asked to leave places like Fannie Mae, Freddie Mac, Go Mortgage, Onity, and others. It isn’t surprising, and the reductions are, in fact, a sign of the times given the time of year and the rate environment. That said, “finding success elsewhere” might just be what happens for those cut, and other lenders are using sources like RETR, mLoop, MMI, and Model Match (this list is by no means exhaustive) to take granular looks at LOs and their fundings, extension, price concessions, and profitability. A broadbrush statement like, “I’m calling on real estate agents to find business” may not be the best path forward. One experienced LO wrote to me saying, “Any originator needs to find out which agents are actually doing business and focus on those. NAR puts out regular stats about its members that can be a good place to start.” “Broadbrush” is not the current trend in residential lending where precision is now possible for many facets. (Today’s podcast can be found here. This week’s ‘casts are presented by Truework, a Checkr company, the one verification solution to replace in-house waterfalls. Verify any borrower with a VOIEA solution that automates the entire process to quickly deliver the most accurate and complete reports with broad GSE coverage. Today’s has an interview with Figure’s Alysse Guitar and Michael Tannenbaum on using AI loan officer assistants to reduce abandoned applications and help loan officers focus on sales and closing.)

The U.S. bond markets are closed today, so beware of posted rates. Ever wonder why little moves in interest rates move mortgage rates significantly?

“What is the most common question Finnish detectives ask suspects? ‘What were you doing the night between November and May?'” There will be less daylight in the Northern Hemisphere until the Winter Solstice on December 21

“What is the most common question Finnish detectives ask suspects? ‘What were you doing the night between November and May?’” There will be less daylight in the Northern Hemisphere until the Winter Solstice on December 21st, with lots of weather, and mortgage news, between now and then. Old mortgage vets recall the end of November as traditionally being the time that Freddie and Fannie announce their loan limits for the next year. Given the increase in non-Agency lending over the last few years, this has lost some of its significance, but it will still have a ripple effect through the industry. Certainly loan officers can use it for marketing purposes and try to add some value. Along those lines, the National Association of Realtors (NAR) has a write up on the reasons to own a home which is a short must-read for any originator to better understand a client. But then we have Better offering up things to think about when not using an agent to buy a home. (Today’s podcast can be found here. This week’s ‘casts are presented by Truework, a Checkr company, the one verification solution to replace in-house waterfalls. Verify any borrower with a VOIEA solution that automates the entire process to quickly deliver the most accurate and complete reports with broad GSE coverage. Today’s has an interview with Private Money Funding’s Ryan Hermansky on how private lenders are filling gaps left by traditional banks in commercial real estate by offering flexible, asset-backed financing with conservative underwriting.)