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Employment Increases Continue on Torrid Pace

Employment Increases Continue on Torrid Pace

Friday, 02 November 2018
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The Department of Labor reported that employment hit a record high of 156,562,000 in October. There were 250,000 new jobs added, or 4.5 million new jobs since November 2016, with gains recorded across all industries. For the second straight month, the unemployment rate is 3.7%, the lowest rate since 1969. Six times this year, the… Read more...
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Buying a Mortgage Causes Credit Scores to Dip

Buying a Mortgage Causes Credit Scores to Dip

Friday, 02 November 2018
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In the aftermath of a mortgage closing, credit scores decline 15 points, though they do recover with time. The drop occurs because after a consumer takes out a mortgage, a large balance is added to his credit report, according to a survey from Lending Tree. Credit scoring models consider a consumer’s total balance of money… Read more...
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Upstart Upgrade Closes 1st Securitization

Upstart Upgrade Closes 1st Securitization

Thursday, 01 November 2018
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Upgrade Inc. closed its first securitization of $282 million of personal loans to almost 20 banks and asset managers. This transaction inaugurates Upgrade's securitization program, designed as a quarterly issuance program. Credit Suisse and Jefferies acted as joint lead underwriters, and Upgrade served as sponsor, servicer and administrator for the transaction. Upgrade has raised $142… Read more...
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TML’s Factoid Report: Ellie Mae

TML’s Factoid Report: Ellie Mae

Thursday, 01 November 2018
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(ML's Factoid Report condenses some key points from a company's quarterly earnings conference call with analysts.) A focus of new business for Ellie Mae are some of the largest lenders and correspondent investors, who are now interested in working with the company. “And that is because we have gotten to a place of so much… Read more...
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Fraud Costs Rise 8.1%

Fraud Costs Rise 8.1%

Wednesday, 31 October 2018
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It’s said everything goes up—and financial fraud is no exception. One dollar of fraud, cost lenders $3.05 in 2018, compared to just $2.82 in 2017, an 8.1 percent increase. Digital lenders, with at least $50 million in annual revenue, are hit hardest by fraud, incurring $3.37 in costs in 2018, compared to just $3.07 in… Read more...
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Haunted Houses Not Necessarily a Deal Killer

Haunted Houses Not Necessarily a Deal Killer

Wednesday, 31 October 2018
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There is a market for every house—even haunted ones. Haunted doesn’t mean deal killer to 33 percent of buyers, especially Millennials, if there was something to sweeten the deal, according to the annual Haunted Real Estate Report from Realtor.com. What’s more, 18 percent of respondents said that a haunted home wouldn’t affect their decision at… Read more...
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1.5 Million Single Family Homes Lie Vacant

1.5 Million Single Family Homes Lie Vacant

Tuesday, 30 October 2018
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Almost 1.5 million single family homes and condos in the U.S., roughly 1.52 percent, stood vacant at the end of the third quarter. In addition, there were 10,291 vacant "zombie" foreclosures homes nationwide at the end of third quarter, representing 3.38 percent of all homes actively in the foreclosure process, according to the 2018 Vacant… Read more...
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7 Steps To Increase Business (in Any Market)

7 Steps To Increase Business (in Any Market)

Tuesday, 30 October 2018
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Many mortgage sales professionals' business plans fail because they lack clarity, are not easily actionable, and are not properly designed to align with the life, habits, and character of the sales pro, notes a sales trainer. Ron Vaimberg "Wishing for great sales without consistent focused action, measurement, adjustment, and skill development will ultimately create mediocrity,"… Read more...
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NAMB's VA Loan Chair Says Bill's Passage Would Mean Positive Change

NAMB's VA Loan Chair Says Bill's Passage Would Mean Positive Change

Monday, 29 October 2018
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After spending more than 20 years in the Navy and reserves, Ken Bates retired from the service in 2014. Today he serves as the Veterans Administration chairman for NAMB and is a passionate believer that our veterans have earned their VA benefits and works to ensure they receive them. [caption id="attachment_7246" align="alignleft" width="150"] Ken Bates[/caption]… Read more...
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Downpayment Affordability Flat in Q3

Downpayment Affordability Flat in Q3

Monday, 29 October 2018
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A survey of down payment affordability, by state, showed that average down payment as a percentage of the purchase priced didn’t change in the third quarter. "The average down payment on a U.S. home fell in the third quarter, though down payments as a percentage of purchase price remained about the same," said Tendayi Kapfidze,… Read more...
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