Who would’ve thought that one day we’d be smoking weed at a family gathering, but the illegal part would be the family gathering? For most of us, family matters are critical. The year 2030, 10 years from now, marks an important demographic turning point in U.S. history according to the U.S. Census Bureau’s National Population Projections. By 2030, all baby boomers will be older than age 65. Reverse mortgage lenders are aware that this will expand the size of the older population so that 1 in every 5 residents will be retirement age. The population is expected to grow at a slower pace, age considerably and become more racially and ethnically diverse. Net international migration is projected to overtake natural increase in 2030 as the primary driver of population growth in the United States, another demographic first for the United States. Recent estimates from the Bureau of Labor Statistics found that about 18% of the workforce was age 70 to 74 and another 8% were age 75 or older! Are you doing anything to take advantage of these trends? Many in my family are cheering new research that shows red wine and cheese slow cognitive decline. More years writing this commentary!

Lender Products and Services

These next few weeks may be the most “off-season” we get during this incredibly busy year. Now more than ever, leaders need to work on the business rather than in the business. Many have rebounded from the tight margin environments of years past and are now deciding where to deploy their cash for high-ROI environments. Your tech stack, and specifically your point-of-sale platform, can be a massive area to generate high ROI through team efficiencies, satisfied referral partners, and delighted customers. Maxwell continues to lead in this space with a platform built specifically for small to midsized lenders. Today, Maxwell empowers over 250 community lenders across the US to generate more loans with less work. To learn more about how Maxwell can fit in your process and drive efficiencies and ROI within weeks, click here and request a demo.

Loan Officers don’t wait until rates go up to foster your Realtor relationships. While competitors are focusing on the refi boom, you need to stay ahead of the curve and concentrate on your long-term purchase business strategies. Heading into 2021, your Realtor relationships must remain healthy. It’s a great time to remind your partners how vital they are to your business and that you are all in when it comes to providing value. How can you use your CRM to tap data intelligence and multi-channel marketing technology to build your referral machine? Supercharge your Realtor Relationships today. You’ve earned their trust, now remind Realtors of what you bring to the table!

Bad things happen when you don't have a borrower intelligence system in place. Stop getting responses such as, "I already took a loan," or "We already bought our house." 92 of borrowers will go with the first or second lender when they are ready. Sales Boomerang notifies mortgage lenders when someone in their database is ready for a loan. “Look at the opportunity cost you have by not having Sales Boomerang. Last year we closed over $72M in loans that we would lost from not having Sale Boomerang.” (Stephen Barton, Eustis Mortgage) The numbers speak for themselves: 20X Avg ROI, $240 Avg Cost Per Acquired Loan, 20-40% Avg Lift to Loan Volume. Want to see exactly how much you lost this year? Request your report today. We will show you which competitor took your deal, the loan amount, type of loan, the term and much more.

It’s the most wonderful time of the year! This morning SimpleNexus opened registration and published agenda highlights for its highly anticipated 2021 SimpleNexus User Group (SNUG) conference. Held February 22-24 from the comfort of your “from anywhere” office, SNUG 2021 is bringing together industry leaders, digital mortgage trailblazers and SimpleNexus’ team of mortgage technology experts to help attendees attain their 2021 business #goals. Hear tales of entrepreneurship with "The People’s Shark" Daymond John in an exclusive keynote address. Learn how to turn social media into a highly producing revenue channel with Shred Media founder Josh Pitts. Get insights into SimpleNexus’ legendary 2021 product roadmap. And much more. Grab your tickets now.

Northpointe Bank Correspondent Lending recently launched its Streamline Jumbo Fixed & ARM program, with loan amounts up to $3,000,000, loan-to-value up to 85% and no mortgage insurance requirements. The Streamline Jumbo program includes cash out refinances with LTVs up to 80%; closely follows automated underwriting guidelines; and is available in 30-, 15-year fixed and ARM terms. Approved Northpointe Bank clients have access to best effort and mandatory delivery options, third-party origination and the program is eligible in all 50 states and the District of Columbia.  Northpointe Bank provides tailored solutions to maximize your profitably and help grow your business. View program details for more information or email us at correspondentsales@northpointe.com.

Black Knight just announced an interactive data dashboard that allows investors to analyze and benchmark mandatory commitments on the secondary mortgage market. Mandatory Analytics enables users to draw clarity on the competitiveness of executions, identify and isolate gaps in their strategy, and take action to better optimize organizational efforts—all within a single, unified portal. "Today's mortgage market is marked by intense volatility and fierce competition," explained Scott Happ, president, Black Knight Secondary Marketing Technologies. "One of the best tools that mandatory investors have at their disposal is access to precise, accurate and timely data. Mandatory Analytics provides our investor clients with transparency, allowing them to identify where execution efforts are succeeding, where they are losing to the market, and why.” Mandatory Analytics delivers the kind of actionable intelligence needed to make informed execution strategy shifts that result in greater returns. Contact Black Knight to see Mandatory Analytics in action!

Capital Markets

Looking back on all that 2020 delivered for the mortgage industry certainly brings a mixed bag of emotions. There was the good (record profits and volumes), the bad (dwindling supply of homes for sale) and the downright ugly (servicing values going to zero). MCT has already published over 110 pieces of bespoke content during this calendar year, helping to keep clients and industry participants alike informed and at the top of their respective games. The most recent release, How News Impacts the Secondary Market, joins previous hits like Challenges and Solutions for Correspondent Lending in Crisis  and Pipeline Pull-Through Analysis Explained that were smash hits with readers earlier this year, remaining as timely as ever. To join the content distribution list, or to stay alerted on the latest press releases, product launches, new feature announcements and industry updates from MCT, join its newsletter.

While the November Retail Sales report (-1.1% m/m) disappointed on all fronts yesterday, the big news was always going to be the release of the latest FOMC Statement. The FOMC did not indicate any change to the current maturity distribution of Treasury purchases, denying some market participants the clarity they had hoped for, though the Fed will continue to buy Treasury securities and MBS well into next year. Over coming months the Federal Reserve will continue to increase its holdings of Treasury securities by at least $80 billion per month and of Agency MBS at least by at least $40 billion per month until substantial further progress has been made toward the current pace to sustain the Committee's maximum employment and price stability goals. Fed Chairman Powell, however, did not specify what could be deemed as "substantial further progress." The central bank also released its updated economic projections, expecting rates to remain at or near zero through 2023. Both Treasuries and the UMBS30 basis closed mostly unchanged.

Today’s economic calendar is already underway with weekly jobless claims (+23k to 885k, continued weakness), housing starts and building permits (+1.2 percent and +6.2 percent, respectively, housing continues to shine), and the Philadelphia Fed Manufacturing Index (11.1, a huge drop). In the afternoon, the Desk will report on MBS purchases for the week ending December 16. That will be in addition to the Desk conducting just two operations targeting up to $4.1 billion 1.5% and 2% between UMBS15s and UMBS30s. We begin the day with Agency MBS prices roughly unchanged from Wednesday’s close as is the 10-year yield of .92 percent after the morning economic news showing a struggling labor market and a strong housing market.

Employment

“At Castle & Cooke Mortgage, we do things a little differently… and a lot better. We do it by focusing on culture, fostering a growth mindset, and keeping our eye on the goal: improving lives, one family at a time. Check out our employee testimonial video to hear about what it’s like to work here. When you’re ready to become part of our high-performing team, reach out to Christi Fullerton (801-739-3783).”

Continued M&A activity exists, including this inquiry. A new well-capitalized mortgage organization is looking to acquire a “shell” corporate entity that currently has active seller/servicer approvals with Fannie Mae, Freddie Mac, and Ginnie Mae. All three are not required, so please reach out with other options. If you are interested, please email Anjelica Nixt with the “Shell entity for sale” in the subject. All inquiries remain confidential.

A company’s culture is about more than big gestures and spot bonuses when times are good – it’s often appreciated through the “little things” and how people are treated when times are tough. Homepoint has proven to be a top-flight workplace regardless of how you define culture. Homepoint has reinvested more than $70 million into its associates through its “We Care” program since the onset of the pandemic. If you want to work at a company that offers competitive pay, prioritizes your work-life balance, and has a leadership team that is committed to your long-term employment and professional growth, submit your resume via the Homepoint careers page today!

AmeriHome Mortgage was recently named a Top Workplace by the Orange County Register! The Orange County Register “sought the businesses that rose above” during this particularly challenging year, and AmeriHome fit the bill. AmeriHome seamlessly transitioned to remote workspaces earlier this year due to the pandemic and subsequent lockdown, and managed to maintain their supportive and collaborative culture, hands-on accessible leadership, stability, and growth opportunities throughout. AmeriHome is continuing to grow their team, and is hiring for several positions in Southern California, Texas, and remote! AmeriHome’s Consumer Direct Division is currently hiring a Retail Senior Underwriter as well as a Processing Manager, while their Correspondent Lending Division is hiring an SVP, Head of Non-Delegated Correspondent Lending, an AVP, Pre Purchase Review Manager, and an AVP, Conditions Manager. Visit the careers page to view all open positions, and submit resumes to careers@amerihome.com to schedule an interview.

Did you know that NEXA Mortgage has a "Revenue Share" program where they share revenues for growth with Loan Officers. Plus it's a residual income. In fact, NEXA gave out $509,737 for October alone, bringing the YTD total to $2.9M for 2020.  And that income will continue into retirement and death for Loan Officers. NEXA is also a "pure broker" with dedicated underwriting teams that boast CTC in 15 days on average for clients on purchases and refinances. Did you also know that NEXA was ranked as a top place to work in Mortgage Professional Magazine? Learn for yourself, come to the "Why NEXA" demonstration held every Thursday at 11am MST. Just login here and click on the "Why NEXA" link. The CEO and Founder, Mike Kortas, will be on hand to answer all questions. Want info sooner? Contact Michael Neill (480-643-9161).