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Fannie Mae: 2019 Economic Growth Slowing

Fannie Mae: 2019 Economic Growth Slowing

Friday, 22 March 2019
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Full-year real GDP growth is estimated to come in at 2.2 percent in 2019, unchanged from the prior forecast but down markedly from 2018’s 3.1 percent, according to the Fannie Mae Economic and Strategic Research Group’s March outlook. The expected deceleration in growth is attributable to the fading fiscal impact from the Tax Cuts and… Read more...
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Existing Home Sales Surge in February

Existing Home Sales Surge in February

Friday, 22 March 2019
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Existing-home sales rebounded strongly in February, experiencing the largest month-over-month gain since December 2015, according to the National Association of Realtors. Three of the four major U.S. regions saw sales gains, while the Northeast remained unchanged from last month. Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops, shot up 11.8… Read more...
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Bodnar: Fed Is More Dovish Than Market Anticipated

Bodnar: Fed Is More Dovish Than Market Anticipated

Wednesday, 20 March 2019
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Hi Bill Bodnar here from the Mortgage Market Guide. Thanks for tuning in to our MMG recap, so this week it was all about the Fed. Now the Fed came out, of course, they didn't raise rates. It wasn't expected, but their statement, believe it or not, was even more dovish than the market was… Read more...
TD Bank: Med School Debt Makes Home Buying Difficult

TD Bank: Med School Debt Makes Home Buying Difficult

Thursday, 21 March 2019
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Around 25 percent of medical doctors who own homes say their student debt made buying a home more difficult, according to a new survey by TD Bank. Of those that don't own a home but plan to buy one, one in six are worried that student debt will make the process more difficult. TD Bank… Read more...
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First Quarter Good Time to Buy Home: Realtor Survey

First Quarter Good Time to Buy Home: Realtor Survey

Wednesday, 20 March 2019
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More Americans believe that now is a good time to purchase a home. Consumer opinions about home buying bounced back in the first quarter of 2019, with 37 percent stating that they strongly believe now is a good time to buy, up from 34 percent in the last quarter of 2018, but down from 38… Read more...
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OCC Hits Citibank with $25M Fine for Fair Housing Act Violations

OCC Hits Citibank with $25M Fine for Fair Housing Act Violations

Wednesday, 20 March 2019
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The Office of the Comptroller of the Currency assessed a $25 million civil monetary penalty against Citibank for violations of the Fair Housing Act. The OCC determined that the bank lacked proper control over the Relationship Loan Pricing program-- designed to provide eligible mortgage loan customers either a credit to closing costs or an interest… Read more...
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KS StateBank Licenses Marketing Platform for Originators

KS StateBank Licenses Marketing Platform for Originators

Tuesday, 19 March 2019
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KS StateBank has licensed the Total Expert Marketing Operating System to centralize marketing efforts and streamline the customer experience. It provides the capability for originators to track interactions with customers, prospects and partners. KS StateBank has branches in Kansas and Arizona. [caption id="attachment_11110" align="alignright" width="329"] Valencia: APIs and integrations allowed the bank to personalize customer… Read more...
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AI Developer Unveils Tool to Reduce Bias, Discrimination

AI Developer Unveils Tool to Reduce Bias, Discrimination

Tuesday, 19 March 2019
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ZestFinance, a developer of artificial intelligence software for consumer credit, launched ZAML Fair, a new tool designed to reduce bias and discrimination in lending. Several mortgage lenders have already tested the ZAML Fair algorithm, and based on those results, ZAML Fair would eliminate 70 percent of the gap in mortgage approval rates between Hispanic and… Read more...
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Getting a Stuck Loan Originator Back on Track

Getting a Stuck Loan Originator Back on Track

Monday, 18 March 2019
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By Brian Sacks I had an interesting conversation yesterday with an originator who is stuck. I'm not sure how he found me, but he did, and continued to call my office until I agreed to finally meet with him for a consultation. [caption id="attachment_7900" align="alignleft" width="332"] Brian Sacks[/caption] He worked locally for a large bank… Read more...
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Work smarter, Commit to Performing the Right Sales Activities

Work smarter, Commit to Performing the Right Sales Activities

Monday, 18 March 2019
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By Pat Sherlock It seems that every time production gets more difficult, originators and their managers request training on how to increase their sales results. While it is reasonable to think that originators simply need to work harder to generate better results, this often isn’t enough to correct a sales slump. In my experience, the… Read more...

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