[David] We got Alice Alvey here, Vice President of Partner Education and Training for Union Home Mortgage. Good to have you here, Alice, with the Legislative Update. Love your thoughts on all the things going on in the industry as well. [Alice] Thanks, Dave and hi everybody. It is a slow legislative time of year as usual with the Congress, as … [Read more...]
Sub-6% Mortgage Rates, Realtor Disclosures, Election Impact On Mortgage and Other Industry Updates
Show notes: TMSpotlight: 09-09-2024 Jobs are the "Rock Brigade"-----------------------Jobs are bangin' on their drums, bangin' on Bonds’ door, wavin' their flags, tellin' Bonds to score. Watch out for the Rock Brigade. On the eve of Fed easing, inversion ended between the 10-year and 2-year Treasury Notes as Job weakness gained momentum. Flash … [Read more...]
From Advocacy to Action: How Mortgage Leaders Use Social Media to Shape the Industry – A Labor Day Special with Greg Sher
Show notes: TMSpotlight: 09-02-2024 "Pour Some Sugar on Me," It Relieves Boredom----------------------Pour Some Sugar On Three. Two, escape inversion. Pour some sugar on One. Come on, hit zero. The countdown to the end of inversion goes through mechanical boredom despite anxiety by market participants. The dynamic tension coexists within … [Read more...]
Trigger Lead Bill, Growing Role of AI in Mortgage Lending, Bond Markets Prediction and Other Industry Updates
Show notes: TMSpotlight: 08.26.2024 "The Weight" Takes Time--------------------------Take a load to Fannie. Take a lock for free. Ship The Weight to Ginnie. Our target of a sub-6% mortgage is 50 bps away. Softening Jobs and receding inflation expectations give credence to the FOMC minutes and Powell's speech, signaling a September ease. Market … [Read more...]
New Buyer Agent Commission and Realtor Challenges, Jackson Hole Symposium, Shrinking TP sizes And Other Industry Updates
Show notes: TMSpotlight: 08-19-2024 Lags Happen, So "Knockin' On Heavens Door"---------------------------Job’s long black cloud is comin' down. Bulls are Knockin' On Rally's Door. Will recession odds rise faster than falling inflation expectations? The bond market expects the Fed will ease multiple times before Dec 31. Yet, uncertainty abounds … [Read more...]
Essential Compliance Measures for Reconsideration of Value: Meeting the October 31st Deadline – Legislative Update by Alice Alvey
[Alice] Hello, everyone. Today we have a very exciting topic on the interagency guidance on a request for Reconsideration Of Value. So you may have heard last week that we have an extension until October 31st to get this done. You have two main things you must get done by October 31st. The first thing I'm going to tell you is you've got to make … [Read more...]
ROV policy, Data and Cybersecurity, Bond Yield Curve And Other Industry Updates
Show notes: TMSpotlight: 08-12-2024 "Always Crashing in the Same Car" Into The Bear Wall --------------------- The market’s going ’round and ’round the DATA garage Must have been getting close to 3.44. The struggling Dollar and Gold’s sustained bullishness point to calamity ahead. Meanwhile, Crude Oil and Bonds do not expect WW3 within the … [Read more...]
CFPB RFI on Mortgage Rates, Mortgage Bond and Market Rates And Other Industry Updates
Show notes: TMSpotlight: 08-05-2024 Mortgage Rates "Take It Easy" ------------------------- Fed is loose, and we will win Though let us never go back againSo open up, Loans climbin' inSo take it easyIn May when mortgage rates were 7.25, you heard me on Lykken On Lending say that mortgage rates would drop significantly before the end of … [Read more...]
NMLS Fee Increase, Fed Rate Cut, Tech Fraud Prevention and Other Industry Updates!
Show notes: TMSpotlight: 07-29-2024 Stop Fretting and "Walk" ----------------------- Lenders remember the days.They built these paper mountains.Then sat and watched them burn.Data come and go that drive MBS prices up and down. With the worsening economic conditions in Europe and soft US Housing, the curve twists and turns. Lenders lost a lot … [Read more...]
Homebuyers Privacy Protection Act, Crowdstrike Outage, Fed Rate Cuts and Other Industry Updates!
Show notes: TMSpotlight: 07-22-2024 Bulls Say "Welcome to Paradise" --------------------- Dear Powell, Can you hear Jobs whining? It's been three whole years since inflation felt your hold. Despite declining volatility, the new bullish trend remains solid. News continues to affirm that two rate cuts make long-term rates happier … [Read more...]
Exciting Changes to FHA’s 203K Rehab Program: Expanded Limits and Extended Timelines – Legislative Update by Alice Alvey
[Alice] Hello everyone. Alice Alvey here took walkthrough the new 203K changes that we have that came out from FHA. So this is Mortgagee letter 24-13 about the 203K program. For those of you who aren't familiar with this, FHA has a rehab program that has two different categories. There's a 203K Limited and a 203K standard. The biggest difference … [Read more...]
FHA 203K Reforms and Market Shifts, Hidden costs of Homeownership and Other Industry Updates!
Show notes: TMSpotlight: 07-15-2024 "Espresso" ------------------------The markets movin’ in a tight range. Isn’t that sweet? Try not to sleep. Don’t you need Espresso? Some news gives you a jolt. Then you see the screen blink red and green because it's speculating about nothing. No easing, high inflation. High easing, no growth. No liquidity. … [Read more...]
Understanding VA and Chevron Deference: Key Updates and Market Implications – Legislative Update by Alice Alvey
[David] Let's get over to Alice Alvey. So good to have you here. Alice she's Vice President, Partner, Education and Training at Union Home Mortgage. And she's here with a Legislative Update. So, anything you have on that, but really interested in talking about what you reported on last week via recording. Really fascinating. So any new updates you … [Read more...]
July Market Dynamics: Fed Rate cut, Chevron Ruling, Data Breaches and the Role of AI in Mortgages and Other Industry Updates!
Show notes: TMSpotlight: 7.08.24 Liquidity is running dry, "It’s So Lonesome it Could Cry."---------------------Hear that lonesome Repo well. It sounds too low to fly. Last week, the implied likelihood of a September Fed rate cut rose to 73%. Over a week ago, it was 62%. Bonds cry for a “higher for longer” Fed. But the fall of the dollar and … [Read more...]
Navigating the Post-Chevron Deference Legal Landscape: What It Means for Industries – Legislative Update by Alice Alvey
[Alice] Hello everyone. Well, by now you may have already heard of the Supreme Court case regarding the Chevron deference. So, basically what we now have as a change is that when the Supreme Court ruled on this, they're essentially saying that the Chevron deference doctrine, is overturned. And so they are now holding that federal courts may not … [Read more...]
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