Apr. 15: Valuation, online app., data intelligence, u/w guideline integration tools; STRATMOR ICE integration; nearby training & webinars

No one is getting any younger, not even Clint Eastwood. Time marches on, as does, apparently, the cost of mailing a letter. The post office wants to jack the price of a stamp to 73 cents from 68 cents which took effect in January. But everything is politics these days, and out comes, “The Trump donor whom Biden can’t fire is running the U.S. Postal Service directly into the ground, just what everyone warned about when he was confirmed during the pandemic. The latest price hikes at USPS are just another sign of the unfavorable leadership of Postmaster General Louis DeJoy.” We have nearly seven months more of election cr-p. How about some good ol’ legal stuff? Neither side in the recent UWM lawsuit is likely to care to hear Brian Levy’s perspectives about the legal theories and people involved in the case, but I suspect many of you will. Levy’s most recent Mortgage Musings is chock full of sideways glances in footnotes, Don Corleone’s ethics, and of course, RESPA, among other stuff. (Found here after 8:30AM ET, this week’s podcasts are sponsored by Optimal Blue. OB’s smart solutions automate critical functions like pricing, hedging, trading, and social media. More originators and investors rely upon Optimal Blue’s integrated solutions, data, and connections to support their unique business strategies, no matter how complex. Hear an interview with Canopy’s Josh Neumarker on current pain points for originators and communication between management and sales staffs.)

Lender and broker products, software, and services

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A&D Mortgage introduces AIM – Artificial Intelligence in Mortgage, revolutionizing the mortgage industry with a platform that streamlines the lending process for brokers and borrowers alike. AIM enhances A&D’s existing portal with AI, advanced technology, a user-friendly interface, and stringent compliance protocols to set a new benchmark in loan originations. This innovative platform is designed to simplify mortgage processing, offering features like an intuitive interface for reduced processing times, comprehensive support for Non-QM and Conventional loans, direct Point of Sale integration for swift applications, and top-tier security and compliance measures safeguarding client data. AIM represents A&D Mortgage’s dedication to innovation and excellence, facilitating a smoother, more efficient lending experience from application to closure. As the industry shifts towards a tech-driven future, AIM leads with a solution that enhances both broker efficiency and client satisfaction. Explore AIM’s transformative impact on mortgage lending here. Step into the future of efficient, secure, and user-friendly mortgage processes.

Take3tech.com is excited to announce our integration between TheRuleTool and Polly PPE. TheRuleTool supports thousands of Loan Officers who can now access agency/investor/bond/jumbo guidelines in Polly to ensure you are on target with guidelines. Are you a lender focused on building relationships with borrowers? Take3Tech has created LoanMAPS, a POS/LOS/CRM that includes upfront underwriting, digital validation and workflow that incorporates D1C, AIM, Collateral Underwriting, and portfolio guidelines. Easy for borrowers to use and empowers loan officers with knowledge that you use to impress! Easy to install and gives you the power of one database that hosts all your POS/LOS/CRM data. Training entry-level employees? Not a problem with our intuitive step-by-step instructions. You will have new employees processing and closing in a week! Learn more by visiting our website or registering today for an upcoming webinar with our CEO and Fannie Mae.”

In today’s fast-changing market, one thing has remained consistent: home price growth. With the rising prices, demand for HELOCs and home equity loans has also increased. Do you have the right tools in place to capitalize on today’s home equity lending opportunities? In this short video, Margie Ambrosio, SVP Information Systems Manager at George Mason Mortgage, shares her unique perspective on why home equity lending should be a “no-brainer” for today’s lenders and how Encompass® by ICE Mortgage Technology® makes it easy. Click here to watch the full video.

Do you know how much wallet share you hold in your agent referral partnerships? With MMI’s data intelligence platform, you can not only see who you’re working with but also how much of their business you’re getting. For a limited time, click here to request your complimentary agent wallet share report and get X-ray insight into where else your top RE agent or office partner is sending their deals. Armed with this competitive intelligence, you can pinpoint potential areas for growth and opportunity like this MMI user: “As a dedicated professional constantly seeking innovative solutions to enhance my business, discovering MMI was a game-changer. MMI has allowed me to proactively identify prospective new agents and immediately reach out to discuss something of value for their new listing. MMI provides the essential data backbone, delivering new listing information to my inbox for existing agent relationships, as well as the agents on my prospect list.”

Winning Agent Business: The lender’s guide to building a strong referral network, updated for 2024. In the aftermath of the NAR ruling, agents are more incentivized than ever to show their clients value. That means they’re actively looking to partner with top-tier lenders in their market. Want to take advantage and grow your referral business? Maxwell just updated its Winning Agent Business eBook with new tips straight from agents to help you better network to create a strong funnel of referral leads. Download your free copy to learn qualities agents value in their lending partners, networking dos and don’ts, ways to become a go-to lender, and more.

If Amazon were in the mortgage business, what would their online application look like? Would it look like yours? They wouldn’t tolerate borrowers getting frustrated with a bad mobile experience and neither should you. Check out LiteSpeed by LenderLogix and see why mortgage bankers are making the switch.

Originators continue to find a way to get ahead of the competition with 48-hour appraisals! Tired of slow appraisals costing you deals? Class Valuation is transforming the industry with its 48-hour purchase appraisal program. This groundbreaking solution is designed to cut appraisal turnaround times significantly, helping loan originators close faster and win more business. Class Valuation’s innovative technology and streamlined process has proven over and over to cut turn times dramatically with no loss in appraisal quality. Get the edge you need in today’s market. Learn more about the 48-hour appraisals.

STRATMOR & Customer Experience & ICE

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Did you know that STRATMOR Group’s Customer Experience Strategy program, MortgageCX, is now integrated with Encompass and available through ICE Marketplace? MortgageCX personalizes CX feedback and coaching tips for every LO, processor, and manager, leveraging STRATMOR’s industry expertise, peer benchmarking data, and the lender’s own customer feedback. Participating lenders are transforming their customer experience and igniting their revenue growth. Contact STRATMOR for more on the MortgageCX program and join those lenders already benefiting from this integration.

Webinars & training in the next couple weeks

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You may-as-well learn something while waiting for business to pick up! A good place for longer term conference planning is to start is here, and click on “Conference List” for in-person events in the future.)

Looking for more in-depth commentary on weekly mortgage news? Register here for “Mortgage Matters: The Weekly Roundup” presented by Lenders One. Every Wednesday at 2:00 PM EST/11:00 AM PT join Robbie Chrisman and Justin Demola for a dive into a range of mortgage-related topics, including market trends, interest rate fluctuations, innovative mortgage products, and industry advancements.

When are Things Going to Get Better Already!?! Spokane Association for Mortgage Professionals invites you to join us as we have a conversation with RE Source on Wednesday, April 17th from 4:30pm-6:30pm at the Spokane Club 1002 W Riverside Ave, Spokane, WA. Topics will include Market Insights, Content Creation, Social Media and Winning in 24′. Click here to register. (Be sure to check out the RE Source latest videos:  https://theresource.tv/.)

Thursday April 18th Rich Swerbinsky returns to the airwaves at 3PM ET, interviewing the CFPB’s Mark McArdle on what the big misconceptions about the CFPB are, and where its focus is currently.

FHA Appraisal Policies for Manufactured Homes in Greensboro, April 18th, 1:00 PM – 3:00 PM (Eastern). This free, in-person training will provide an overview of FHA appraisal/appraiser requirements for manufactured homes as outlined in FHA’s Single Family Housing Policy Handbook 4000.1. This training will cover several topics including property acceptability criteria, minimum property standards/minimum property requirements (MPR/MPS), defective conditions, policy updates, inspections, well and septic requirements, underwriting the appraisal, and program types such as a new construction.

Join Angel Oak on Thursday, April 18th for a Non-QM Webinar on Short Term Rentals & DSCLR Loans. Discussion will include AirDNA, short term rentals and DSCR Loan program details. Plus, the top questions heard from their brokers.

IMLA is hosting a Builder Panel at its April Luncheon, Thursday, April 18 · 11:30am – 1pm MDT at the Riverside Hotel Aspen Room. Treasure Valley Builders Bobbie Jordan, Preside of Jordan Homes, Bud Compher, Jr., CEO of Neighborworks Boise, Cody Weight, President of Solitude Homes and Jenna England, President of Berkeley will share their perspectives on building trends, affordable housing, and how they are adapting to the everchanging market.

AmeriCatalyst explores the operational impact of climate change and its profound industry-wide implications for the US housing and finance market. AmeriCatalyst’s GOING TO EXTREMES: The Climate, Housing and Finance Summit is being held at the Gaylord National Harbor (in the Washington DC area) on April 18 and 19. Contact Toni Moss (512-461-6340) with questions.

Friday the 19th is the next episode of The Mortgage Collaborative’s Rundown covering current events in the mortgage market for 30-45 minutes starting at noon PT, 3PM ET, in “The Rundown”.

Join co-hosts, the National Association of Appraisers and Appraiser eLearning, at the 6th annual Appraiser’s Conference and Trade Show (ACTS). The next ACTS conference will be held April 20-23 at the DoubleTree in Colorado Springs hosted by the Colorado Real Estate Appraisers Association.

Interested in learning how retain/release MSR decisions can be included in your best execution strategy? Join MCT for a webinar on April 24th at 11:00 AM PT titled Complete Best Execution – Now Including Fully Integrated Retain/Release MSR Decisioning. In this webinar, MCT will review the current state of the MSR market and discuss more comprehensive retain vs. release strategies, in addition to our recently introduced fully integrated Enhanced Best Execution (EBX) solution. MCT’s Paul Yarbrough will then provide insights from a trader’s perspective regarding MSR best execution strategies at time of loan sale. He will also highlight MCT’s Rapid Commit technology and assignment of trade processes. This session will include a live demo of the EBX (MCTlive! and MSRlive!) integration, showcasing how EBX can effectively optimize your flow MSR trading process and decisions. Register for the webinar to join the session.

Join CoreLogic for an exclusive webinar on Wednesday, April 24, noon CT tailored for lenders to delve into the Valuation Modernization Initiative. Dive into the innovative redesign of forms and the cutting-edge UAD (Uniform Appraisal Dataset) initiative, poised to revolutionize the sector. Explore the significant effects that this initiative is exerting on the broader industry, encompassing alterations in Loan Origination Systems (LOS), effective management of appraisal fees, performance SLAs, and other aspects.

The Single-Family Housing Guaranteed Loan Program (SFHGLP) is offering free, in-person training to its lending partners. The training will offer one and half days of loan origination training and one day of loan servicing training, April 24th, 9:00 am – 4:00 pm in Glenn Allen, VA. The servicing agenda will focus on the methodology and processes of handling troubled loans in your USDA portfolio. USDA will cover the entire waterfall of loss mitigation options and the specific rules and processes of administration and provide an update on USDA programs portfolio review. It will be held at the Virgina Housing Center, 4224 Cox Rd., Glenn Allen, VA. This is an in-person event only and will not be streamed live.

“A never-before-seen economic environment calls for new ways to create stronger business growth. Register now for a MAXEX roundtable discussion Thursday, April 25 at 2 p.m. Eastern where we’ll breakdown how unyielding inflation, stubborn mortgage rates, an unpredictable Federal Reserve and a nearly two-year long yield curve inversion are affecting the mortgage world. The roundtable will feature MAXEX and special guests. Don’t miss this opportunity to hear directly from industry leaders about how they’re attacking the road ahead and where you can find growth while working against industry headwinds.”

Join MBA’s webinar, April 25th, 2:00 PM – 3:30 PM ET, as they delve into the fundamentals and complexities of mortgage accounting. Anyone who desires to increase their knowledge of mortgage loan accounting will benefit from this session that is designed for business owners, executive management, accountants, and non-CPA accounting managers. Complete the full series, and you’ll have the information necessary to master mortgage accounting.

FHA New Applicants are invited to join a free virtual webinar, April 25, 2:00 PM – 3:30 PM (Eastern) conducted by FHA’s Office of Lender Activities and Program Compliance, will focus on the Lender Electronic Assessment Portal (LEAP) as outlined in the Single Family Housing Policy Handbook 4000.1. Content includes a detailed overview of the FHA lender approval application process, eligibility requirements, and required documentation for the various types of mortgagees (lenders). Common application deficiencies will also be addressed and tips for submitting a successful application will be provided.

Capital Markets: inflation continues to set the higher rate tone

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The latest consumer price data drove last week’s market movement as traders attempt to predict when the Fed will begin to ease monetary policy. The Consumer Price Index increased 0.4 percent in March at both the headline and core levels, which was hotter than market expectations and led to an immediate sell-off in bonds. The question remains as to whether this is a bump in the road to 2 percent inflation or an inflection point signaling a reversal of course.

Meanwhile, farther up the food chain, producer prices rose 0.2 percent in March, their slowest pace over the last three months. The Fed’s preferred measure of inflation, the core PCE deflator, will not be released until April 26. Despite the belief that inflation will trend lower throughout the year, Fed officials clearly do not have confidence it is on a sustained path towards two percent at this time. As a result, the market has pushed the likelihood of the first rate cut from June to September.

This week’s economic calendar kicked off with a bang today with March retail sales (+.7 percent, the consumer is strong!) and April Empire State manufacturing. Later today brings the NAHB Housing Market Index for April, February business inventories, and remarks from a couple of Fed speakers. We begin the week with Agency MBS prices worse .250-.375, the 10-year yielding 4.61 after closing Friday at 4.50 percent, and the 2-year up at 4.96.

Grammar is a good thing, but there are things to remember. (Part 1 of 5)

Parenthetical words however must be enclosed in commas.

It behooves you to avoid archaic expressions.

Avoid archaeic spellings too.

Don’t repeat yourself, or say again what you have said before.

Don’t use commas, that, are not, necessary.

Do not use hyperbole; not one in a million can do it effectively.

Visit www.robchrisman.com for more information on our industry partners, access archived commentaries, or to subscribe to the Daily Mortgage News and Commentary. If you’re interested, visit my periodic blog at the STRATMOR Group web site. The current blog is titled, “Relying on the Fed: How Did This Happen?” The Commentary’s podcast is live and at any place you obtain your podcasts (like Apple or Spotify).

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(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes visit LenderNews. This newsletter is for sophisticated mortgage professionals only. There are no paid endorsements by me. For up-to-date mortgage news visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.robchrisman.com. Copyright 2024 Chrisman LLC. All rights reserved. Occasional paid job & product listings do appear. This report or any portion hereof may not be reprinted, sold, or redistributed without the written consent of Rob Chrisman.)

Rob Chrisman