Artificial intelligence (AI) captivates my cat Myrtle completely. However, her interest is primarily focused on the availability of Icelandic Sea Trout in her dish. Nowadays, AI is a trending topic, and the Mortgage Collaborative’s “Breakdown” today at noon PT, 3 PM ET will feature David Karandish, the CEO of Capacity, discussing AI and other technical trends in the mortgage industry. As prominent private lending businesses traverse the nation in search of suitable small corporations aligning with their models and open to change, the trend of mergers and acquisitions continues to impact the industry. Conversely, a concerning trend emerges with a lack of success, particularly among small to mid-sized lenders who have depleted their resources and divested their leasing. Sometimes, opting for change is a prudent decision to sustain business operations. Additionally, volume trends are less than ideal, with Curinos reporting a 19% YoY and 5% MoM decrease in funded mortgage amounts for October 2023. Curinos derives these forecast figures from a robust data set obtained directly from lenders. You can access today’s podcast, sponsored by nCino Mortgage Suite creators, to delve deeper into these insights. nCino Loan integrates individuals, systems, and stages of the loan process, offering three tailored products for modern loan lenders. Don’t miss Megan Sinclair’s interview discussing the lenders who facilitated her home financing as a Millennial homebuyer.
Software, Products, and Services for Lender and Broker
The real estate market is reverting to previous price levels at a rapid pace, presenting challenges for struggling homeowners. Relief for loans facing default may be strained due to elevated interest rates compared to previous years. To gain insight into the current environment and mitigation strategies, read Clarifire’s recent blog post, “Mortgages Are Up!” With CLARIFIRE®, powered by BRIGHTER AUTOMATION®, you can enhance customer service and operational efficiency, streamlining your processes and improving outcomes.
Are you ready to optimize your banking operations? Join us at the life celebration event on November 16 at 2 p.m. EST to discover strategies for enhancing productivity and cost-effectiveness through streamlined procedures and efficient resource utilization. Learn from industry leaders Josh Friend, CEO of Insellerate, Kirill Klokov, and Taylor Stork, CMB of Developer’s Loan, about proven methods to ensure successful operations and customer interactions.
What could be more valuable than the holiday season? Providing a swift response to common queries. Empower yourself and your team with tools like Power to streamline banking processes in 2024. With integrations to over 150 systems, Power acts as your personal assistant, simplifying tasks and improving customer service. Whether you’re a new AI user or looking to leverage AI for lending, inquire about our AI Analyses or schedule a consultation to explore the possibilities.
In the fast-paced mortgage industry, efficiency is paramount. ReadyPrice introduces Shop, Lock, Deliver, a cutting-edge program designed to help independent mortgage brokers save time and money by comparing loan offers, securing rate locks, obtaining insurance results, and submitting complete product files to lenders—all within a single platform. Join numerous successful agents across the nation who are thriving in this challenging industry with ReadyPrice.
Products for TPO for agents and journalists
Attention product staff members! TLS is hosting the next installment of its HELOC Mastermind Series, where loan officers will share insights on leveraging HELOCs to attract customers and boost earnings. Join the event on Thursday, November 16, at 1 p.m. EST to explore the opportunities offered by HELOCs.
First-time homebuyers in select low-income areas can benefit from Rocket Pro TPO’s Purchase Plus program, offering up to $5,250 in provider credits for down payments and closing costs. Explore the ONE+ program by Rocket Mortgage, which enables qualified customers to contribute 1% towards the down payment while covering the remaining 2%, along with waived mortgage insurance. Contact Rocket Pro TPO to learn more about Broker or Non-Delegated Correspondent agreements.
News Wholesaler and Correspondent
Down Payment Resource highlights 61 DPA programs providing funding to veterans and service members, with additional programs available nationwide. The top 25 loan manufacturers generated \(231.95 billion in the second quarter, marking a 33.2% increase over the previous quarter. United Wholesale Mortgage leads the pack with \)38.85 billion in second-quarter production. Notable increases in purchase business were observed for AmeriHome Mortgage and Guaranteed Rate. Stay informed about industry updates and announcements to navigate the evolving mortgage landscape effectively.
Stay tuned for the latest economic updates and insights from industry leaders. The Federal Reserve’s cautious approach to policy adjustments amidst inflation concerns continues to shape market expectations. Monitor Fed funds futures and housing market trends to stay ahead in the dynamic financial landscape.
Moves, Employment, and Corporations Wanted
Kind Lending is seeking a Director of Non-QM to lead the expansion of their non-QM department. The ideal candidate will possess expertise in non-QM lending and demonstrate a successful track record in the field. If you are a seasoned professional looking for new challenges, consider applying for this pivotal role to drive growth and innovation in non-QM lending at Kind Lending.
Equity Resources, Inc., a reputable loan banking firm, invites Independent Mortgage Banker Owners to explore growth opportunities in the current market conditions. With a focus on providing top-tier support and fostering a boutique-like atmosphere, Equity Resources offers a unique platform for mortgage professionals to thrive. Reach out to Vice President Tom Piecenski to discuss potential collaboration opportunities and mutual growth prospects.
Mortgage Machine Services is appointing Crystal Stanton to oversee customer success and onboarding, leveraging her expertise in electronic origination technology to deliver exceptional service and seamless onboarding experiences for Loan Machine customers.
