efficiency, fulfillment and messaging products; housing offices. money markets

efficiency, fulfillment and messaging products;  housing offices.  money markets

efficiency, fulfillment and messaging products; housing offices. Capital Markets I am often asked about the jumbo segment of our business. Honestly, apart from the coasts and a couple of cities in between, much of the nation is not overly concerned with it. Paying $1 million or more for a home might seem excessive to most Americans, though that doesn’t mean that million-dollar homes aren’t rife in some parts of the U.S. Per LendingTree, only an average of 6.68 percent of homes have Owner-operated in the nation’s 50 largest metros in 2021 were valued at $1 million or more. The share of million-dollar homes has grown: That’s up from an average of just 4.71 percent of owner-occupied homes in the nation’s 50 largest metros in 2020. San Jose (66.3 percent) and San Francisco, California (52.9 percent) ) has the largest share of million-dollar homes, and they’re the only two cities where most homes are worth at least $1 million. Including San Jose and San Francisco, the four metros with the highest percentage of million dollar homes are in California. Only four metros (Buffalo, New York, Cleveland, Pittsburgh and Louisville, Kentucky) have less than 1.00 percent of owner-occupied homes valued at $1 million or more. (Today’s podcast can be found here. This week is sponsored by Richie May, a recognized leader in providing professional advice, audit, tax, technology and other services to the mortgage industry for nearly four decades. Experience how Richie May can help you transform Your mortgage business, visit richeymay.com.Listen to an interview with Nathan Lee of Richey May about considerations for outsourcing and changing fixed costs to variable costs.) Lender and Broker’s Software, Services, and Products “Citi Correspondent Lending remains dedicated to serving the markets Diversified as well as responsible and sustainable growth.With a growing suite of products that includes the new HomeRun program (no MI, up to 97% of borrower’s lifetime value required and a minimum of 1% of borrower’s down payment contribution), a robust suite of CRA pricing incentives and loan review Quality Focused Pre-Purchase Process Citi is well positioned to help you grow your business Complete our potential correspondent questionnaire or request an appointment to speak with a Citi Account Executive at the Western Secondary Conference next month. We welcome the opportunity to chat with you about all that Citi’s Correspondent Lending has to offer.” If you’re looking for ways to get every dollar out of every loan transaction, check out Computershare Loan Services (CLS). You can turn your fixed costs into variable expenses by outsourcing processing and underwriting And Close to the CLS Creation Operations Fulfillment Team.They maintain top-notch point of sale, LOS technology, and a robust compliance program that keeps you one step ahead.The money-saving CLS solutions continue!Membership in their Mortgage Cooperative gives you exclusive access to negotiated rates for commonly used mortgage services such as VOI, Flood Identification, and Post Document Solutions.They do the hard work, uncovering best-in-class services that positively impact lenders.You’re just one call away from savings that can dramatically improve your bottom line.Contact Computershare Loan Services today.It’s set Blend has always kept borrowers at the forefront of their mortgage products.KeyBank, a regional bank that has been around for nearly 200 years, knows that customers are the backbone of their business, too. And with modern mortgage outlooks, they needed a modern mortgage solution. Learn how KeyBank’s partnership with Blend improved NPS results, operational efficiency, and LO adoption in this case study. sleeping in your office? What about the vacant homes plot? Before “van life” people sometimes slept at their desks. But what about turning the office into a place to sleep? There is an anomaly facing major cities in the United States: many office buildings are empty while housing is scarce. There’s been a lot of talk about just converting large offices into more apartments, but it’s more difficult than it sounds. Transfers are possible, but real estate developers face a variety of physical, regulatory, and financial constraints. Zoning restrictions and regulations restrict modifications and limit the scope of office-to-residential conversions. The structural complexity and code requirements mean that not all buildings are conducive to reuse (eg, ceiling height, lighting access, plumbing considerations, etc.), and many structures must be reinforced with more steel. Repurposing is often an expensive process that comes on top of the initial purchase costs, and in the end won’t save or make any money. High costs require high rents to offset, which means that most office conversions tend to cater to the luxury segment of the market and will not help alleviate the city’s shortage of affordable housing. Finally, with the state of remote working still in flux, there is a big question mark over the advisability of these transformation projects in the first place. While we’re talking inventory solutions, BOKF’s Chris Maloney has had some recent thoughts about people looking at the level of vacant single-family homes “and that, to them, is evidence of a nefarious plot by speculators to shut supply off the market, drive prices higher and then sell at a profit.” Larger “. “There are a number of problems with this view, the most obvious of which is that the total number of vacant homes in this United States is currently well below its historical average.” Excluding the approximately 145 million housing units in the country, there are only about 15.1 million (or 10.4 percent) of total housing stock) vacant, which if proportional to the average for this millennium (12.7 percent of total housing stock) means we’ll have about 3.3 million more homes vacant than we see currently. The supply of vacant homes, like everything else in the housing market, is scarce. Of the 15 million vacant housing units, the Census Bureau estimates that only about 3.6 million fall into the “other” category where speculators reside, and of that number only 3.6 million about 227,000 fall into a sub-category (such as “preparing for rent/sale”) which indicates The unit is ready for sale in the near term. The bottom line is, it does not seem (at the national level) that speculators holding homes off the market, waiting for a better selling point, are the cause of the housing crisis. Of course, the institutional investor can focus his financial power on specific areas, but even if they do question here, the It comes down to private property. If someone buys a house and wants to risk taking it off the market until they decide it’s the right time to sell, that’s their right because it’s their home, not their community.” Thank you, Chris. Capital markets where? starting from last week? Upbeat quarterly earnings reports on Friday from three of the largest US banks capped a week in which just about everything in the markets rebounded. JPMorgan Chase, Citigroup and Wells Fargo all reported higher-than-consensus results to kick off the second-quarter earnings season. However, the main economic headline over the past week has been the continued slowdown in inflation, with core CPI falling below 5 percent for the first time since November 2021. Consumer prices rose 0.2 percent in June and core CPI rose 4.8 percent. about last year. Both durable and non-durable goods witnessed a decline in prices. US inflation has fallen from its peak of 8.9 percent, and suddenly “inflation mitigation” is the buzzword on the trading desks. And while the markets welcomed the lower inflation figures, the Fed is still expected to raise its federal funds target after its next meeting on July 26th. The committee is likely to feel validated that tightening monetary policy is slowing inflation while economic growth has not turned negative. Housing costs may continue to be a headwind in the Fed’s struggle to return to 2 percent inflation as higher interest rates not only slashed demand as planned, but also severely limited supply sending housing prices higher. For those who think the Fed is done raising rates, Fed Governor Waller said on Friday that he expects to raise interest rates twice more this year. This week begins with a limited agenda consisting only of New York Federal Manufacturing for the month of July. Data and supply rebound for the remainder of the week and include June retail sales, June industrial production/capacity utilization, May business inventories, July homebuilding sentiment tomorrow, June housing starts and permits Wednesday, July Philly Federal manufacturing, June current sales Homes, June Leading Indicators, and $17 Billion in New 10-Year TIPS Thursday. After the 10-year US Treasury yield fell 23 basis points over the past week to 3.82 percent, at the start of the week, the agency’s MBS rates were about .125 better versus Friday, the 10-year yield is 3.78, and the 2-year is 4.72. Recruitment Black Knight is hiring an MSR Account Manager for the Optimal Blue division. This person will be responsible for assisting clients with strategies related to mortgage servicing and hedging rights valuations, full loan valuations, and more by employing industry leading property analytics. This position is available in Chevy Chase, Md., Denver, Colo., and San Francisco, California For more details on this role contact Betsy Meek. In addition, the Black Knight is always looking for talent in many roles. Visit BlackKnightInc.com/Careers for a complete list of all open positions. Citizens was recently named the Best Regional Bank in the US in 2023 by Euromoney.com, for its clear vision, strong leadership, and disciplined execution. With the recent strategic acquisitions of branches of HSBC and Investors Bancorp. , making it geographically complete, Citizens seeks talented sales representatives (managers, loan officers and account representatives) in all three mortgage lines – retail, wholesale and messenger throughout the Northeast, Mid-Atlantic, Midwest and Florida. Our deep product mix allows us to assist many different loan needs, from affordable loan programs like HomeReady to a best-in-class one-off near creation to a permanent product, Citizens has what you need to succeed. Our specialist loan programs such as Apartment/Co-op financing, rate protection programs with extended rate locks, along with an amazing special wealth discount value proposition for high net worth banking clients, ensures that you have all the tools to win in this challenging market. To learn more, contact Sean Riley or visit here. Lending to Nations continues to grow, expanding opportunities for producers! Nations Lending continues to grow with multiple internal product offerings, creating a world of opportunities for its native team nationwide. The company’s dedication to serving nearly all of its agency business and its licensing in all 50 states highlights its commitment to building its loan officer business. This proves true with the expansion of its latest product offerings: RIO and ACE. RIO is the company’s DSCR (written internally) product, which eliminates proof of employment or income verification, limited liability services, and caters for short-term rentals. With ACE, borrowers complete their loan application and get approved for financing before proceeding with the home purchase process, which differs greatly from traditional pre-approval methods. “We know the headwinds designers face today and our goal is to give them as much ammunition as possible,” says Corey Custer, EVP of National Productions. “Our leadership team is focused daily on how to improve our platform.” “At Guaranteed Rate Affinity, we believe our Loan Officers need the perfect blend of technology and the human touch to succeed in this market. We are not only a fintech organization, we focus on memorable experiences to drive the personal brand of Loan Officers. Events Team to support our Loan Officers Our credits in creating those experiences that will leave a lasting impact.Build your business by harnessing the power of events to create connections and partnerships organically and stay top of mind in your community.Your Event Coordinator will take care of everything from start to finish, all you have to do is Host referral partners and clients Learn more about what sets us apart Contact Tim McGraw to get started.”

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