Mortgage News

For consumers, Mortgage News Daily (MND) provides education via thousands of pages of information related to mortgage, real estate, and housing matters. Through the collaborative environment created by MND, professional members of our community have answered thousands of questions submitted by consumers, creating a vast knowledge base.

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  • TPO and Warehouse Products; Training Events; MBA Shows Decrease in Volume, Profits
    The MBA tells us that both volume and profits were down in 2017. “Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $711 on each loan they originated in 2017, down from $1,346 per loan in 2016.” Production expenses grew in all categories: sales, fulfillment, production support and corporate. Keep that […]
    Rob Chrisman
  • Servicing Update - Where are Values and Why?; AUS and CRM Products
    One of the things that impact servicing values is foreclosure laws, and rates, in certain states. Foreclosures have dropped, thankfully the number of borrowers in trouble has dropped, but certain loan vintages, and certain states, are seeing an increase in higher foreclosures. “Meanwhile we are beginning to see early signs that some post-recession loan vintages are […]
    Rob Chrisman
  • Chase's Demand Letters; Capital Markets Update; Zillow is Doing What?
    There is always something new in the legal arena, right? Below is news that JPMorgan Chase is pursuing remedies. Is it “legal” for Zillow to compete with real estate agents, or private investors, or to out-bid individuals or families in buying a house? My guess is “yes,” and they have plenty of lawyers to make […]
    Rob Chrisman
  • Tech Products, eNote News; MB Financial Bails and Sails
    “Rob, are you hearing of companies where branches are being picked off due to new budgetary constraints, and where new recruiting has become problematic for primarily the same reason?” Yup. Companies continue to look at management or regional layers (are they needed?), real estate costs (are all these leases needed for all these branches?), the […]
    Rob Chrisman
  • Cyber Training and Data Security Workshop; Nationstar Documentation Penalty
    This commentary posts plenty of job opportunities. I have a site – www.LenderNews.com – where folks can post resumes for free (under “services) and companies can view them. What about the flip side? People are fired every day, from every position, for every reason. Is it the end of the line? Absolutely not, and it can […]
    Rob Chrisman
  • Construction Product; Tax Guideline Changes From Lenders
    Here’s some trivia for Happy Hour tonight. Who is Irene Triplett? Triplett is the sole surviving person sole surviving person to be receiving a Civil War pension from the VA. She is 87, the daughter of a “War of Northern Aggression” soldier, lives in North Carolina, and every month cashes a check for $73.13 from […]
    Rob Chrisman
  • LO Training, Lender Products; State-Level Changes
    Plenty of folks are moving to Florida, where I am today for a VA Conference. Do property taxes matter? Sure they do. Enough to move to an entirely different state?  This article says, “Apparently.” Experts say that jobs are the most important determinant of where home buyers will locate. After that, state and local taxes matter […]
    Rob Chrisman
  • Training, Jobs, and Resources for LO's; Capital Markets Update
    What’s the retail residential competition up to? Eave (not to be confused with Eaze!)  launched a new software that automates mortgage applications and decisions and claims to provide buyers with a response within two days based on 10 documents. The company targets loans for high-end homes, from $665,000 up to $8 million, management includes a […]
    Rob Chrisman
  • Encompass and Subservicer Products; Jumbo, Non-QM, Non-Prime, ARM News
    What happens when you combine an already tight housing market, marijuana, a Chinese crime syndicate, and the U.S. government? The answer is not a movie starring Jackie Chan, Sean Penn, and Denzel Washington. “This represents one of the largest residential forfeiture efforts in the nation’s history,” the U.S. Justice Department said. (Marijuana is still illegal under […]
    Rob Chrisman
  • Cyber Certification and Compliance Products; FHA and VA Updates
    My father was in the U.S. Navy for 20 years (1942-1962) and his first home loan in 1967 was a VA 30-year fixed rate mortgage. That was obviously pre-internet, and now there are tools on the web to help veterans. For example, want to help your VA borrower manage their housing benefits? Here’s a nifty […]
    Rob Chrisman