Aug. 8: CFO, AE jobs; hedging, accounting, home data, fee collection tools; events & training into September

Do you believe there is no opportunity out there, or nothing you haven’t heard of? First of all, there’s an interesting “moonlighting” commercial job below. Second… Do you ever dial your childhood home phone number? What happens to “old” numbers? There is a fair amount of money that goes into these numbers, and recently I met a woman who is a highly placed manager at a phone number redistribution company! Who knew!? By the way, one can switch phone carriers and keep your number. But there is at least one company that focuses on the U.S. “Number Portability” business. The woman I met oversees all aspects of developing, transitioning, launching, and operating iconectiv’s LNPA service as the number portability provider for the U.S. Telecommunications industry. Heck, I was impressed that this business even existed. (Today’s podcast is found here and this week’s is sponsored by PHH Mortgage. If you are looking for a Correspondent Lending partner or an experienced, award-winning subservicer who can manage your forward and reverse, residential and commercial, and performing and non-performing loans, look no further than PHH. Hear an interview with PHH Mortgage’s Sean Marr on the correspondent lending landscape, early payoffs, and refinance activity.)

Employment & promotions

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Brokers First Funding is excited to announce the promotion of Thy Nguyen from Vice President, Capital Markets to Chief Operating Officer. Thy brings over 30 years mortgage experience encompassing capital markets, operations, strategic planning, risk analytics, policy development, and regulatory compliance. “Thy has been one of our BFFs for two years and has provided tremendous insight, structure, and strategic thinking to our business. We are lucky to have her and look forward to what she will no doubt accomplish in her new role,” said BFF’s President Shabi Asghar. Join us in congratulating Thy and come experience the BFF difference. Real people doing real work helping brokers and their borrowers every day. If you’re an AE looking to expand your territory and make more money, contact Shabi Asghar. If you’re a Broker looking for a new BFF, contact Brokers First to learn more, and follow it on LinkedIn, Instagram, and Facebook.

Exciting CFO opportunity with a fast-growing mortgage lender! A rapidly expanding mortgage lender is seeking a dynamic sales-oriented CFO to join its executive team. This is a unique opportunity to be part of a seasoned company experiencing steady growth (despite current market conditions), where your contributions will impact their goal to grow the lender’s revenue 10X in the next 5 years. The ideal candidate will have a "black belt" or equivalent proficiency in Loan Vision Software. This company is looking for a strategic thinker with a proven track record of success in financial leadership within the mortgage industry. If you are ready to take on a pivotal role in a thriving company and have a passion for driving organizational success, then please confidentially send Chrisman LLC’s Anjelica Nixt your resume.

Lender and broker software, products, and services

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“Are you looking to earn extra income? Do you have clients that need to refinance or purchase an office building, car wash, or strip center? Get paid a commission just for the referral!

CommLoan's focus is to provide a superior lending experience by combining state-of-the-art technology with a concierge service. The borrower will have unprecedented access to the capital markets with their own loan underwriter. CommLoan is the first true commercial real estate lending marketplace, putting the borrower in the driver's seat by allowing them to work with our underwriters to find the loan that best suits their needs. All you do is make the referral -sit back and let CommLoan do the rest, and then be paid a commission once the loan is closed. With our innovative platform CUPIDTM (Commercial Underwriting Pricing Index Data), CommLoan has streamlined the process of obtaining commercial real estate financing. If you would like to be a part of this innovative, fast-paced company, we are looking for commissioned marketing directors as a supplement to your current mortgage job. Contact Debbie Bloyd, Business Development (469-768-0337).”

What if collecting upfront fees and interim servicing payments looked something like this... borrower gets a text, pays directly on their device, all parties get a receipt and all data flows right back into Encompass® by ICE Mortgage Technology™. It's a good thing Fee Chaser by LenderLogix exists. Book a demo to check it out.

A 30-minute meeting with Planet Home Lending’s Correspondent sales team this month could be the catalyst for a year-round boost in your business. Explore our continually refined product lineup spanning vanilla to niche products all tailored to your unique needs: Best effort, mandatory AOT, delegated, or non-delegated. Schedule a meeting with Planet at the 2024 Western Secondary Market Conference Aug 19-21 in Palos Verdes, CA by reaching out to Regional Sales Manager Jennifer Caldwell (909-225-8444) or Tiffany Ta (714-376-3214). To connect with Planet at the NYMBA 10th Anniversary Convention Sept. 4-6 in Verona, NY, contact Danny Hughes (203-981-5743) or VP National Renovation Jim Bopp (518-348-6426).

Did you know in June, home prices continued their upward trend and hit another record high, but annualized house price appreciation slowed for the sixth consecutive month? It's true! In case you missed it, First American Data & Analytics recently released its June Home Price Index (HPI) report where you can receive the most current insights into home price changes at the national, state, and metropolitan CBSA levels. In the report, First American Chief Economist Mark Fleming says, “High-end home buyers are more immune to mortgage rate fluctuations, and many existing homeowners are sitting on substantial equity that can be used to finance a bigger and better property. As a result, house prices in the luxury price tier increased on an annual basis in all 30 markets tracked." Download a full copy of their report to learn more valuable insights.

Elevate your accounting function today! As an independent mortgage bank, your focus should be on growth, not accounting headaches. Whether you have no accounting expertise in-house or you have a new team with no mortgage experience, you can tap the Richey May Client Accounting and Advisory Services (CAAS) team for the support you need. This team is stacked with mortgage industry experts who can tailor your solution to meet your most pressing needs with no training needed. Need help transitioning to loan-level accounting? Need a fully outsourced function? You got it! Need industry training for your controller? We can do that. In this article, Richey May’s expert Kim Dittmer answers all your most frequently asked questions about outsourced accounting as a mortgage bank. 

In-person events, training, and webinars well into September

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Join AFR Wholesale® on Tuesday, August 13th at 10 AM PT / 1 PM ET for an insightful ARIVE Partner Spotlight featuring AFR’s COO Rob Pieklo and special guest Matt Graham, Founder and CEO of MBS Live. Titled "Markets, Pricing & the Fed, OH MY! The LO's Guide to Markets & Pricing," this session promises an in-depth discussion on navigating the current mortgage market landscape and beyond. Gain strategic insights into pricing structures and explore various strategies to enhance your market approach. This session is designed to equip you with valuable tools to navigate the current and future market landscape effectively, focusing on key areas of importance and implementing practical strategies. Whether you're looking to understand the intricacies of market dynamics or seeking actionable strategies for success, this spotlight is a must-attend. Register today! Contact us at sales@afrwholesale.com, call 1-800-375-6071, or visit www.afrwholesale.com. (NMLS 2826)

Announcing SCRIPT-a-PALOOZA 2024: Learn the Best Scripts from Top Producers! Want to learn the best scripts to close more loans and win new Realtors in this market? Join us for the annual SCRIPT-a-PALOOZA 2024, discussing the 6 conversations that matter most in this market! This was one of the biggest attended online events last year with thousands who attended to learn the best scripts from top leaders, hosted by Todd Bookspan, Dave Savage, and Phil M. Jones, the best-selling author of EXACTLY WHAT TO SAY. On Monday, August 19th at 11:00am PT, top industry leaders will share their best scripts that helped close billions collectively in volume last year, including Denise Donoghue, Jeremy Forcier, Gina Myers, Dan Keller, Mosi Gatling, and James Allen. Don’t miss as Phil M. Jones debriefs each of them using his SCRIPTING principles and frameworks from his book that has sold over 2.2M copies.

Whether you're an appraiser, educator, or you work for an AMC, lender, tech company, or E&O insurance firm, the Valuation Expo 2024 is your premier opportunity to stay up to date with industry advancements and meet the people at the forefront. Don't miss the chance to learn, network, and prosper. Register for Valuation Expo at Caesars Palace in Las Vegas, August 19th - 21st.

August 19-21 will see the California MBA’s Western Secondary at the Terranea Resort in Southern California. Come say hi!

Attract Top Agents with the LenderHomePage New AI Tool, NewDoor, a game-changing software designed to help mortgage lenders effortlessly create hyper-local, co-branded social media content for their real estate agents to capture attention and drive leads. NewDoor creates SEO-friendly content and social post-worthy co-branded unique content using AI models built to gain the attention of buyers, sellers, search engines, and social network algorithms. Attendees of OriginatorTech Deep Dive, a collaborative demo where mortgage professionals will get a 20-minute deep dive into a product or service that helps create a better origination experience on Tuesday, August 20, 2:00 PM ET / 11 AM PT.

Whether you are an entry-level individual or a seasoned professional, MBA Education offers learning solutions from loan production basics to in-depth explorations of profitability, risk management, regulatory compliance, and best practices. Check out other online offerings, including webinars and select self-studies that are FREE to members. View all MBA Education complimentary offerings.

NAMMBA CONNECT 2024, August 21-23: Whether you specialize in innovative technology, leadership strategies, or industry trends, you’re invited to join in shaping the future of the mortgage industry. It is always a fine event as Tony Thompson fires up the crowd!

Join NAMB and MLOs Branding Academy for a two-day Masterclass, Monday, August 26 and Tuesday, August 27 at 11am PT. Learn a simple and actionable strategy to generate leads like clockwork with “Mortgage Webinar Marketing Secrets.”

The MISMO Fall Summit is in Reston, Virginia, August 26-29 for a jam-packed program filled with presentations and strategy sessions focused on some of the most pressing issues in the industry. In-person and virtual attendance options are available. Early bird pricing extends through July 15, but space is limited, so register before it's too late.

Fannie Mae has two new property insurance training modules to help ensure that lenders and servicers are well-versed in the unique needs for one- to four-unit properties and project developments (PUDs, condominiums, and co-ops). Review the one- to four-units module and View the PUDs, condominiums, and co-ops module. Available later this summer, new flood insurance training will provide a thorough understanding of the key flood insurance requirements for the same property types.

As posted in announcement FHA INFO 2024-48, training opportunities in Atlanta, GA and Chicago, IL. during the month of August include Condominium Approval, Credit Endorsement, Credit Underwriting, and Appraisal Training.

In Colorado, don’t miss this chance to protect your business and stay ahead of emerging fraud threats in real estate. Join CoAMP and its top panel of experts for a robust fraud presentation, Thursday, September 19th; 2-4 PM MDT at 7979 E Tufts Ave, Denver (First Floor Conf Room).

September 4-6 the NY MBA is taking over the Turning Stone Resort Casino in Verona, NY with a slate of top-notch speakers and information.

In the inaugural edition of IMN’s HEI & Home Equity Capital Markets Forum, September 5-6 at the Marriott Downtown in Austin, TX. The initial response has been overwhelmingly encouraging and we are anticipating 400-500 attendees, including all of the notable Issuers, Originators, Investors, and Servicers in the space.

A&D Mortgage is looking forward to attending the Great Northwest Mortgage Expo in Seattle on September 11, Washington's largest gathering of mortgage professionals. Come meet with members of the A&D Team to learn about the exciting loan and tech solutions. Use ADFREE promo code to get complimentary access to the exhibit hall, breakout sessions, and networking events.

Register for the New England Mortgage Bankers two-day conference, September 11-13 in Portsmouth NH. Hear from a range of speakers, learn about new technologies and products, join golf and social events.

Register for the Zelman & Associates 2024 Housing Summit, Thursday, September 12th & Friday, September 13th in Boston, MA. The cost to register is $1595, however register by July 25th and receive the first discounted rate of $795. When you register, please select New Participant as your "registrant type". The discounted cost will automatically adjust on the invoice upon registration.

Capital markets: summer quiet has resumed

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MCT announced today that the company has been awarded a patent for the security spread commitment used in the industry’s largest mortgage asset exchange: MCT Marketplace. The security spread commitment improves execution, liquidity, and approval times in the secondary market. “For decades industry players have imagined a time when buying a loan would be as easy as buying an item on eBay,” said Phil Rasori, MCT COO. “Arduous counterparty approval processes always blocked the way – but no longer. By committing to a price spread against the underlying security, buyers and sellers can confidently transact before undertaking mutual approvals.” Read the press release for details and use cases such as CRA, AMI, and spec targeting. Mortgage market participants interested in learning more about the impact that innovative loan sale practices may have on their business are encouraged to read the whitepaper, Why Your Loan Sale Process is Holding You Back. 

Often bond prices, and therefore interest rates, are a function of supply and demand. There isn't much to report from yesterday outside of a dud of a 10-year Treasury note auction that sent bond yields higher across the yield curve, in steepening fashion. The poorly received $42 billion 10-year auction had a tail of 3 basis points and a much larger than average take for dealers.

Overall debt continues to increase. The main economic release yesterday was consumer credit, which increased by $8.9 billion in June, less than expected after increasing an upwardly revised $14.0 billion in May. Revolving credit decreased after hitting a record in May, pointing to some newfound caution among consumers. Volatility has dropped about 20 percent since Monday, with investors fortunately shifting their focus back towards corporate earnings and economic data.

Weekly jobless claims kicked off today’s calendar: initial (233k) and continued claims (1.875 million) versus 249k and 1.877 million last week, respectively. Later today brings wholesale inventories and sales for June, several Treasury auctions that will be headlined by $25 billion 30-year bonds, Freddie Mac’s Primary Mortgage Market Survey, and remarks from Richmond Fed President Barkin. We begin Thursday with Agency MBS prices roughly unchanged from Wednesday’s close, the 10-year yielding 3.97 after closing yesterday at 3.97 percent, and the 2-year is yielding 4.01.

(Parental discretion advised. No complaints please.)

A man and a woman were sitting beside each other in the first-class section of an airplane.

The woman sneezed, took out a tissue, gently wiped her nose, and then visibly shuddered for ten to fifteen seconds.

The man went back to his reading. A few minutes later, the woman sneezed again, took a tissue, wiped her nose, and then shuddered violently once more.

Assuming that the woman might have a cold, the man was still curious about the shuddering. A few more minutes passed when the woman sneezed yet again.

As before, she took a tissue, wiped her nose, her body shaking ever more than before.

Unable to restrain his curiosity, the man turned to the woman and said, "I couldn't help but notice that you've sneezed three times, wipe your nose and then shudder violently. Are you ok?"

"I am sorry if I disturbed you, I have a very rare medical condition. Whenever I sneeze, I reach a peak of sexual pleasure."

The man, more than a bit embarrassed, was still curious. "I have never heard of that condition before" he said. "Are you taking anything for it?"

The woman nodded, "Pepper."

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, “What Happened to that Mortgage?” 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. The views and opinions in this newsletter are mine alone unless otherwise specifically stated herein.)