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  • Bill Bodnar of MMG: Can Rates Go Even Lower?
    Bill Bodnar of The Mortgage Market Guide discusses why bonds are unable to break above current resistance levels even in the face of highly uncertain events, such as the coronavirus outbreak. He notes there is some chatter about rates going even lower, but in his view, there is also a… Read more »
  • Ask The Expert: How Long Should I Wait Before Calling a Lost Prospect?
    Brent from Oklahoma asks:  You have previously talked about calling back a prospect you lost. I thought that was a good idea. How long should I wait after losing the prospect? What should I say? Dave Hershman Dave: I truly believe you can either get some of these prospects back… Read more »
  • Why Today’s Housing Market May Be a Recession Buster: First American
    In the third quarter of 2019, the United States reached its longest economic expansion in history, which caused some people to wonder whether we were overdue for a correction. Additionally, global uncertainty resulted in a flight to safety of U.S. Treasury bonds, prompting the dreaded inversion of the yield curve.… Read more »
  • 11.3M Have Refi Incentive, $3B in Monthly Savings on the Table: Black Knight
    The Freddie Mac 30-year average came in at 3.45% last week, the lowest level in almost 3.5 years and just 14 BPS above all-time lows. This pushed the number of high-quality refinance candidates to approximately 11.3 million homeowners, for an aggregate potential monthly savings of $3B—both the highest on record… Read more »
  • SoCal Startup LoanSnap Rolls Out Mortgage Calculator
    Southern California-based startup LoanSnap has unveiled a new mortgage calculator called LoanPulse, aimed at borrowers. So reports TechCrunch. The calculator draws data from the same places a lender would, the company said, helping potential borrowers get a more realistic view of how creditworthy they are (or aren’t). Users’ interest rates,… Read more »
  • Are Your Originators Still “Telling and Selling”? They Need to Stop!
    Every salesperson has personally experienced how dramatically selling has changed in the last five years. Prospects don’t answer their phones or respond to emails as they once did. Pat Sherlock This is a daily fact of ‘selling life’ and is very frustrating, especially for veteran originators. Considering the difficulty accessing… Read more »
  • CFPB Head Refuses to Say Whether Agency Is Needed
    House Democrats rebuked Kathy Kraninger, the head of the Consumer Financial Protection Bureau, during a committee hearing in which she declined to say whether the agency should exist. Republicans, meanwhile, applauded her gentler regulatory approach. So reports Roll Call. When Maxine Waters (D-Calif.), the U.S. House Committee on Financial Services… Read more »
  • Former Porn Lawyer Gets Prison for Mortgage Scam
    Paul Nicoletti, former attorney for the litigious pornography company Malibu Media, is headed to prison for his role in a phony mortgage scheme. So reports Michigan’s The Oakland Press. A Detroit federal judge sentenced Nicoletti to serve 70 months in federal custody and ordered him to pay $5.3 million in… Read more »
  • Weekly Mortgage Refinance Applications Leap 15%
    Refinance applications climbed by 15% in the week that ended January 31, 183% higher than a year ago. So reports CNBC. The surge in refinancing activity drove mortgage activity up 5% for the week to its highest since 2013, according to the Mortgage Bankers Association’s seasonally adjusted index. While purchase… Read more »
  • Bill Bodnar of MMG: Back to the Future
    Bill Bodnar of The Mortgage Market Guide discusses how mortgage rates fell for the third consecutive week, the impact of the coronavirus news, manufacturing data, jobs numbers and the upcoming monetary policy statement from The Fed. The post Bill Bodnar of MMG: Back to the Future appeared first on The… Read more »
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