Mar. 14: ARM biz; DOJ/Fed, IMB/Trump, CrossCountry, Better in the news; Thoughts on staff retention; Saturday Spotlight: Flyhomes

I am soon heading to Las Vegas for the ICE Experience, along with hundreds, or thousands, of others. But let’s bask in today… nicknamed “pi day,” as in 3.14… Pi, often represented by the mathematical symbol “π,” represents the ratio of a circle’s circumference to its diameter. (Today is also, coincidentally, Albert Einstein’s birthday.) Pi’s numbers never repeat, and its value has been calculated out to over a trillion figures. That’s a lot! Something else that is “a lot” are the price…

Mar. 13: CFO, LO jobs; Jumbo construction investor sought; UAD 3.6, AI, processing tools; the undercurrents moving mortgage rates

I will be forever disappointed that a group of squids is not called a squad. There’s really no name for that particular group (versus crows, or flamingos, or rhinos), but there is a name for a lack of privacy and raising prices for people in trouble. Let’s open the mailbox. “Rob, you mentioned ‘ surveillance pricing ’ where companies like Uber can change their pricing based on how desperate a consumer is. Can you imagine the backlash lenders would face if they changed prices whenever someone…

Market Update – Egg Face

In this current environment, price targets age about as well as leftover milk. If there were a chart metric for panic locking, the benchmark would be the BPM of LO’s and real estate agents watching rates forge higher. Meanwhile, the 10yr might as well be correlated to a herd of cats with a garden hose. Forget fundamentals, the only thing the market cares about right now is the belief or disbelief in the word “transitory.” The timing of all this is all but impeccable (cue sarcastic…

Mar. 12: U/W, LO, sales jobs; AI roadmap, UAD 3.6, repurchase tools; False Claims Act rumors; STRATMOR’s subservicing survey; credit trend interview

I’m sitting here, wondering how many numbers my phone can permanently block given the daily calls I receive about some personal loan I’ve never applied for. Speaking of applications, let’s see what’s in the mailbox. “Rob, are there any jobs out there that you know of that you don’t post in your Commentary?” Kind of: Lenders and vendors add jobs to the Chrisman Job Board which takes just a few minutes and the listing is seen by thousands of mortgage professionals. If you’re looking for your…

Rethinking the Mortgage Point of Sale

For years, the mortgage industry has talked about the need for a seamless point-of-sale experience, but the reality on the ground has been more uneven. The largest financial institutions have invested heavily in fully integrated digital platforms that can guide a borrower from application through closing with relatively little friction. Meanwhile, independent mortgage banks, credit unions, and regional lenders have often struggled to deliver the same level of digital convenience while…

Mar. 11: SoFi LO jobs; fraud guard, cap. mkts. data, QC, POS products; PHH & OptiFunder name news; non-Agency product changes

Most passwords that are suggested to me by a computer look like a cat walked over the keyboard. Technology is a two-edged sword. Have you ever heard of “surveillance pricing?” “Big brother” knows a lot about you. Ridesharing companies like Uber, for instance, can charge users more when they have lower battery life on their phone. “Democrats in Pennsylvania have introduced a bill that would stop retailers from changing the price of essential goods and services in a given 24 hour period.”…