Thu, Apr 30 2020, 9:36 AM
As analysts pour through Freddie Mac’s earnings announcement this morning, when in captivity it is important to settle in quickly and efficiently . It...
Wed, Apr 29 2020, 10:26 AM
While in captivity it is important to observe the impact of your words during meal times. (Warning: Rated R for language.) Measuring the financial imp...
Tue, Apr 28 2020, 8:55 AM
Folks will sometimes ask me, “It’s a mystery: What kind of preparation do you do before writing your daily commentary?” Although no one has ever filme...
Mon, Apr 27 2020, 9:00 AM
My Saturday was going pretty well until I realized it was Sunday. Remember when Zillow was going to take over the mortgage business? Or Amazon was goi...
Fri, Apr 24 2020, 9:19 AM
While in captivity, it is important that your home have the right ambiance, and emanate a welcoming feeling . Real estate agents are good at helping s...
Thu, Apr 23 2020, 10:16 AM
Other than things like a mother’s love, most things have prices, and Fannie and Freddie set theirs for buying loans in forbearance in the form of tack...
Wed, Apr 22 2020, 10:01 AM
While in captivity it is important to amuse oneself . And here’s a tender song – the video is only 30 seconds. By the way, the residential industry is...
Tue, Apr 21 2020, 9:58 AM
Another stimulus package is in the headlines but no one is talking about inflation being a concern with near-term oil futures prices actually below ze...
Mon, Apr 20 2020, 9:31 AM
As oil prices plummet this morning, while in captivity, uninterrupted sleep is a good thing. I know for a fact that the staff of the Mortgage Bankers ...
Fri, Apr 17 2020, 9:10 AM
While in captivity, watching the time, and waiting for release , can seem like forever. We’re always waiting for something, whether it is the CFPB rol...
Thu, Apr 16 2020, 9:16 AM
Unlike 2008, when, arguably, the lenders, banks, and investment banks, via lending & underwriting policies and lax securitization procedures, were the...
Wed, Apr 15 2020, 9:25 AM
While in captivity sometimes it is difficult social distancing . Working from home, and having video meetings, takes some getting used to. I was telli...
Tue, Apr 14 2020, 10:13 AM
Bill M. sent, “It's not at all boring to stay in the house. But how come one bag of rice has 22,373 grains and the other bag 24,201?” Yes, things have...
Mon, Apr 13 2020, 10:20 AM
It was a rough weekend. The still in our basement blew up, throwing potatoes everywhere and setting us back weeks. That happened just as I was sending...
Thu, Apr 9 2020, 10:56 AM
As the market looks at this morning’s Federal Reserve huge aid package announcement, while in captivity/quarantivity, testing yourself is important . ...
Wed, Apr 8 2020, 9:22 AM
While in captivity it is important to keep calm . “Many parents are discovering that the teacher was not the problem.” One of the kids next door phone...
Tue, Apr 7 2020, 9:10 AM
Is there good news out there? You bet! Ying Ying and Le Le mated . That aside, Day 98 of captivity. We’ve all found out that really hot water and suds...
Mon, Apr 6 2020, 9:07 AM
Twas a rough night since today it’s garbage day. I was worrying all night, “What should I wear to take it out?” Jeannette M writes, “On January 1st I ...
Fri, Apr 3 2020, 9:16 AM
While in captivity it is important to focus on the friends you’ll see when you’re released . Your borrower doesn’t want the fuss and muss of typing up...
Thu, Apr 2 2020, 9:30 AM
Yesterday I decided to put thoughts of SRP values plummeting, and EPO & EPD penalties being enforced, out of my mind and get some exercise. My cat Myr...
Wed, Apr 1 2020, 9:19 AM
“I hadn’t planned on giving up quite this much for lent.” So true. It is a different world than only a month ago. Of course rates are going to stay at...
Tue, Mar 31 2020, 9:03 AM
Remember when all we had to worry about was Amazon taking over mortgage banking? The sun hits different here in March – see joke at bottom. (Thirty da...
Mon, Mar 30 2020, 8:50 AM
After a long time in captivity with the same people, one may become, uh, less than enamored with their pals. “12 th day of self-isolation and it’s lik...
Fri, Mar 27 2020, 9:33 AM
While in captivity it is important to have good communication . (Early anecdotal chatter indicates that the remote workforce has signs of improved pro...
Thu, Mar 26 2020, 9:08 AM
While in captivity it is important to keep busy . Every day people ask me where I think rates will be next week. Here you go: my forecast ! After you ...
Wed, Mar 25 2020, 9:03 AM
While in captivity it is important to have a hobby . “Dad, why is my sister named Paris?” “Well, uh, that’s because we were in Paris when she was conc...
Tue, Mar 24 2020, 9:04 AM
While in captivity it is important to have discipline . Independent mortgage banks exercised discipline and had a great 4 th quarter, profit-wise , bu...
Mon, Mar 23 2020, 9:19 AM
While in captivity it is important to have a goal . And remember, “It's only quarantine if it comes from the quarantine region of France; otherwise, i...
Fri, Mar 20 2020, 9:00 AM
Today, with the official start of Spring, and while the industry waits for the FHFA to answer concerns about appraisals, VVOEs, and other issues, ther...
Thu, Mar 19 2020, 9:13 AM
“I’ve started investing in stocks: beef, chicken, and vegetable. One day I hope to be a bouillonaire.” There might be a few less “bouilonaires” owning...
Wed, Mar 18 2020, 9:14 AM
Thank you to Susan M. for, “Your Grandparents were called to war. You’re being called to sit on a couch. You can do this!” I was speaking with an acqu...
Tue, Mar 17 2020, 9:41 AM
“I’ve washed my hands so many times now I can see the answers to a math test I took in 1978!” We’re going through a test of the financial system . I l...
Mon, Mar 16 2020, 9:03 AM
Gosh, what should we talk about today? If there’s a “winner” with the coronavirus, it is dogs. They are experiencing unprecedented levels of people be...
Fri, Mar 13 2020, 8:44 AM
Here’s an economic tidbit for you. The Port of Los Angeles is reporting a 22.9% decrease in cargo volumes for February compared to 2019, with expectat...
Thu, Mar 12 2020, 9:07 AM
Here’s a sign of the times. “Rob, I would think many lenders are for sale; they just don't know it yet. EPOs, servicing write-downs, renegotiations, m...
Wed, Mar 11 2020, 8:58 AM
First, a note of clarification. Yesterday’s commentary mentioned that there was talk of “warehouse banks temporarily suspending funding refi biz.” I r...
Tue, Mar 10 2020, 8:55 AM
There sure is a lot going on out there! There is talk of warehouse banks temporarily suspending funding refi biz, lenders charging lock fees, lenders ...
Mon, Mar 9 2020, 9:04 AM
As everyone grapples with changing the clock in their car… The world’s shortest horror movie? At 14 seconds, here you go . (Thanks to Kevin K. for tha...
Fri, Mar 6 2020, 9:16 AM
Yesterday, as I was working on my commentary, I looked down. There I was, wearing my WAMU sweatshirt over my Lehman Brother t-shirt, sipping cocoa out...
Thu, Mar 5 2020, 8:57 AM
“Spring Forward” really needs to be a Friday at 4PM thing. At this point most lenders would like another hour instead since most have their hands full...
Wed, Mar 4 2020, 8:52 AM
March 4th: the only day that’s also a command. Lenders across the nation will be seeing plenty of “commands” in their in-boxes asking them for money i...
Tue, Mar 3 2020, 8:56 AM
Overhead on the phone line. “Uh, hello Morgan Stanley? Remember that $20 million MBS we sold you last month? Can we just forget that ever happened? Or...
Mon, Mar 2 2020, 8:51 AM
Huh? You don’t know what a “Gig Line” is? Someone’s buttons, belt buckle and zipper should all line up in the Gig Line. (See? And you say you never le...
Fri, Feb 28 2020, 9:48 AM
We’re almost at the end of February already. Mortgage bankers are funding loans, throwing axes, working overtime, learning about skydiving, all kinds ...
Thu, Feb 27 2020, 8:57 AM
I was telling my cat Myrtle that U.S. lenders are continuing to bask in the glow of a great 2019 and a start to 2020 (with March and April now looking...
Wed, Feb 26 2020, 8:48 AM
Remember the concerns of chaos prior to the UK leaving the European Union? Despite Brexit, the average London house prices increased 2.3% in 2019, the...
Tue, Feb 25 2020, 8:50 AM
People have a choice in financing their home: debt or equity. (Debt, of course, is what supports our industry. Equity, however, has been experimented ...
Mon, Feb 24 2020, 8:52 AM
With the coronavirus driving worldwide markets and politics dominating the headlines, who doesn’t like “easy?” Easy: Krispy Kreme is launching donut d...
Fri, Feb 21 2020, 8:31 AM
Yesterday’s commentary mentioned that there were “rumors” of Citi re-entering the correspondent channel. I apologize for any confusion. Readers should...
Thu, Feb 20 2020, 8:50 AM
Morgan Stanley buying E-Trade is causing some chatter this morning, and last night’s Democratic debate had plenty of chatter. (Some would use a strong...
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