How non-QM lender A&D Mortgage grew origination volume in 2022
Non-QM wholesale lender A&D Mortgage saw origination volume increase by more than 31% in 2022 thanks to its tech improvements and servicing portfolio.
Development
Meet the 2023 Ivory Prize Top 25
An applied academic institution at the University of Utah’s David Eccles School of Business, Ivory Innovations is dedicated to supporting innovative solutions in housing affordability. They recently announced the Top 25 Finalists for the 2023 Ivory Prize for Housing Affordability (from 203 nominees). Finalists are…
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10 Clear Signs a Movie Sucks According to The Internet
Nothing is worse than spending at a theater on a terrible film that looked so good. Have you ever had that experience? One time I walked out of a terrible movie. I couldn’t finish it or even remember the name to share with you so you could avoid it at all costs. Someone recently asked, … Read more
JPMorgan Chase on how the FHA could bring back more banks
The Federal Housing Administration has signaled that it wants to renew efforts to bring banks back into the business through servicing improvements, and some speakers at a recent industry conference shared some thoughts on how it could be done. A representative of JPMorgan Chase’s bank unit, which like many reduced FHA activity after being hit … [Read more…]
Non-QM, Marketing, HELOC Servicing, Automation Products ; Credit Trends
Here in Las Vegas (Why did the Dalai Lama go to Las Vegas? Because he loves Tibet) the population is about 650,000 with all manners of housing, subdivisions, and lifestyles. But around the nation and world, there are numerous ways and places to live. Hereâs a story about a former NFL star who says he saved money by living inside Cincinnati Bengals stadium. What do Stowe, Vermont, Whitefish, Montana, and Lake Placid, New York have in common? The three U.S. towns made Travel & Leisureâs 25 Most Beautiful Small Towns. If you only want a house for part of the year, with elevated mortgage rates and home prices having risen considerably, the solution might be buying 1/6 of a house. Or sharing equity, which is what some of your borrowers and homeowner clients consider. âAn Unlock HEA gives you cash in exchange for a portion of your homeâs future value.â Or one can live underwater. (Todayâs podcast can be found here and this weekâs is sponsored by Built Technologies. Construction and real estate solutions for better financial management. Improve business performance with faster, smarter tools, for all stages of the property lifecycle. Todayâs has an interview with Sasha Ramani, CEO of MPOWER Financing on companies beginning to ditch credit scores when loaning money. Broker and Lender Products and Services The Konami Code is one of the most well-known cheat codes in video game history. Unfortunately, lenders canât just press a sequence of buttons to make productivity struggles disappear. But that doesnât mean there isnât a solution thatâs nearly as simple and effective! SimpleNexus, an nCino company, is helping lenders hack the mortgage experience with its single-sign-on mobile homebuying application that connects lenders, real estate agents, and homebuyers from pre-application to close. If youâre attending ICE Experience 2023 this week, SimpleNexus invites you to âLevel Upâ at booth #125. Come for the free t-shirts and stay for the retro video games and illuminating discussions about the latest advancements in digital home lending. Want to put your name on the mortgage industryâs leaderboard? Earn a top score with SimpleNexus.
New-home sales climb to highest level in almost a year
Sales of new U.S. homes increased in January by more than expected to the highest level in nearly a year, fueled entirely by purchases in the South, indicating some stabilization in the housing market after a brutal year. Purchases of new single-family homes rose 7.2% to an annualized 670,000 pace after an upwardly revised 625,000 … [Read more…]
MSR Monitoring, Marketing, Lead Conversion Tools; USMI on the FHA MIP Cut
Remember, not all math puns are terrible…just sum. Analyzing residential servicing is a combination of math and psychology. If you were an institution thinking of buying mortgage servicing rights (MSR), or a lender running the numbers on retaining servicing rather than selling it to an aggregator like AmeriHome or Penny Mac, you donât like hearing the saying, âMarry the house, date the rate.â Youâd prefer that the loan stay âon your booksâ well into the future because you want the monthly cash flow. In 2020 and 2021 origination income was dominant. But in 2022 servicing income won the day for those who owned it. What will happen to servicing in 2023? No one has a crystal ball, but if rates stay in the 5âs or 6âs, loans funded in 2020 and 2021 still stick. Prepayments have plummeted: no one wants to pay off their 2.875 percent loan. Of course, there are numerous parties slicing and dicing the numbers. For example, Black Knightâs MSR Index takes a sample current note rate production portfolio and tracks the MSR performance throughout the month by comparing the current value to the first day of the month value. (Todayâs podcast can be found here and this weekâs is sponsored by Agile, bringing the mortgage capital markets into a new digital era. From lenders to dealers, Agile is the new way to quote MBS. Listen to an interview with entrepreneur and author Alexandra Nolan on launching and growing a successful business.) Lender and Broker Services and Products
9 Fun-Filled Things to Do in Cambridge, MA for New Residents
From touring Harvard University to going on a food tour of Inman Square, check out these 9 things to do in Cambridge.
1104: $200 Million in Sales at 23: Overcoming EXTREME Adversity With Brian Lane
With over $200 million in real estate sales at age 23, Realtor Brian Lane is an incredible success story. What makes him an inspiration, however, is what heâs overcome. Raised in an abusive, neglectful home, Brian cared for and provided for his younger siblings from an extremely young age. His early hustles introduced him to real estate and the people who would help him excel in this industry. Brian recently helped his buyers close on Ellen DeGeneresâ multi-million-dollar home while his mother was being sentenced to life in prison. Hear how Brian accomplished and overcame so much on this Real Estate Rockstars.
Higher rates flip the homebuilders’ fortunes (again)
To combat higher mortgage rates, homebuilders have been cutting prices and buying down rates but they still have a lot of work to do.