self-expression, color and creativity. Does orange make you smile? Dress your kitchen in the happy hue. Love a variety of styles? Do a mashup.
The look goes by many names. Fashion writer Dawnn Karen referenced the feel-good brain chemical in her book “Dress Your Best Life,” holding that “dopamine dressing” — wearing clothes in your own, individual style — gives you positive feelings.
Decorators and influencers say the same thing happens when we throw out old decor rules and step into a space adorned with personal touches. We’re more relaxed. More creative.
People are asking themselves what colors and patterns they really love, “and then bringing those features into their spaces — even if it goes against conventional decorating advice or what they might have seen online 10 years ago,” says Lauren Phillips, associate director of special projects at Better Homes & Gardens.
‘BARKITECTURE’ AND OTHER WAYS TO USE A ROOM
The trend toward making rooms more comfortable, functional and personal gained steam during the pandemic, when many people were homebound. And it continues to grow, Phillips says.
“Unused guest rooms are home offices. Formal dining rooms become craft spaces. And ‘barkitecture’ is having a moment — installing dog baths and other pet-specific features,” she says.
Decor is awash in aesthetic “cores” — Barbiecore, cottagecore, coastal grandma, mermaidcore.
“But I don’t take it to mean we’re bouncing from trend to trend super quickly. To me, it means people are defining their own style, and really getting to the root of the designs they love, even if that’s a little more colorful, kitschy or funky,” says Phillips.
SOCIAL MEDIA HAS LOOSENED THE CREATIVE REINS
There’s lots of inspiration on the internet. “If, 15 years ago, we all wanted the picture-perfect kitchen we saw online, today it’s all about taking a trend or beautiful interior that you see on TikTok or Instagram and pulling out the details you love,” says Phillips.
“Gen Z is on the cusp of becoming our new homeowner,” says Amanda Kruse of Upspring PR, a New York-based marketing firm for real estate, design and interiors.
And they’re more likely to mix styles for a personal spin, she says.
ARTSY ELEMENTS
Emilie Munroe began designing a San Francisco family’s Victorian home by leafing through a sheaf of torn-out magazine images from the client.
“We knew immediately our design should exude happiness and inspire curiosity,” says Munroe.
A tiny powder room got an exuberant pink-and-black, animal-print wallpaper. In a tight hallway next to a window, there’s a kaleidoscopic wallpaper, an abstract rug and a Basquiat-patterned chair.
London-based design editor Cara Gibbs, meanwhile, has noticed the free-wheeling use of paint.
“I feel like it used to be wacky to paint a room pink from top to bottom, but now the application of these bright, poppy palettes is chic, interesting and most importantly very livable. I’m here for it!” she says.
So is Massachusetts designer Nicole Hirsch. She’s put a zingy green — she calls it “alligator” — on a bathroom ceiling. Tangerine on a playroom ceiling. Cobalt blue, lipstick pink and chrome yellow add lively punches on furnishings.
HIDEAWAYS
In her own California home, designer Alison Pickart has the kind of roomy closet that storage-challenged homeowners would envy. But she saw value in a different use.
“It was a hall closet, but with its generous size and great natural light from a back window, I just felt like the space could be ‘more,’” she says.
So she turned it into a little “phone room” for herself. “It seemed like the perfect size and place to escape, with some privacy to make a call.”
Clara Jung of Banner Day Interiors worked with clients on a San Francisco ranch house that’s full of big, airy spaces. But nudge the secret panel in the living room bookcase and you’ll find a cozy, color-saturated, album-lined music den. There’s a vintage wood bar and a sprawl-worthy crimson rug.
“The homeowners are avid LP collectors,” she says, “and the husband’s a musician.”
Jung was ready to install a door when the clients suggested creating the secret entrance instead. “We loved the idea!” she says. “It’s the perfect escape for an audiophile.”
Maybe that’s the new decorating rule: Create your own “perfect escape.”
The Department of Justice (DOJ) announced that it has entered into a settlement with American Bank of Oklahoma (ABOK) to resolve allegations that ABOK engaged in unlawful redlining in Tulsa, Oklahoma. The DOJ opened its investigation of ABOK after receiving a referral from the FDIC.
In its complaint, the DOJ alleged that from 2017 through at least 2021:
All of ABOK’s branches and loan production offices were located in majority-white neighborhoods;
For purposes of the CRA, ABOK designated its Tulsa Metropolitan Services Area (MSA) to exclude all of the majority-Black and Hispanic-census tracts in the MSA;
ABOK did not assign a single loan officer to conduct outreach in majority-Black and Hispanic areas and did not market, advertise, or take steps to generate loans from majority-Black and Hispanic neighborhoods;
ABOK failed to implement effective fair lending compliance management systems;
ABOK significantly underperformed its “peer lenders” in generating home loan applications from majority-Black and Hispanic neighborhoods;
ABOK made a smaller percentage of HMDA-reportable residential mortgage loans in majority-Black and Hispanic neighborhoods compared to its peers; and
ABOK loan officers and executives sent and received emails via their ABOK email accounts containing racial slurs and racist content.
Notably, in addition to alleging that ABOK’s redlining practices violated the Fair Housing Act, the DOJ alleged that such practices violated the Equal Credit Opportunity Act. The question whether the ECOA applies to prospective applicants is currently before the U.S. Court of Appeals for the Seventh Circuit in Townstone Mortgage. The CFPB appealed to the Seventh Circuit from the district court’s decision in the CFPB’s enforcement action against Townstone in which the district court ruled that a redlining claim may not be brought under the ECOA because the statute only applies to applicants and not to prospective applicants.
The actions that ABOK must take under the proposed consent order include:
Hire or designate a full-time director of community lending to oversee the development of ABOK’s mortgage lending in majority-Black and Hispanic census tracts and ABOK’s compliance with the consent order;
Establish a community-oriented loan production office in a majority-Black and Hispanic census tract in Osage, Rogers, Tulsa or Wagoner counties within the Tulsa MSA (Tulsa Lending Area) that has a no-fee ATM for ABOK customers and with lower fees for non-customers than what is available at nearby ATMs for non-customers;
Assign at least two full-time loan officers to solicit mortgage applications primarily in majority-Black and Hispanic census tracts in the Tulsa Lending Area;
Invest at least $950,000 in a loan subsidy fund with the goal of increasing credit for home mortgage loans, home improvement loans, and home refinance loans made in majority-Black and Hispanic neighborhoods in the Tulsa Lending Area (with no more than 25% of the fund to be used for refinances);
Partner with one or more community organizations that provide residents of majority-Black and Hispanic census tracts in the Tulsa Lending Area with services related to credit, financial education, home ownership, and foreclosure prevention and, through these partnerships, spend at least $20,000 per year ($100,000 over the term of the consent order) on professional services to majority-Black and Hispanic census tracts in the Tulsa Lending Area that increase access to residential mortgage credit;
Spend at least $20,000 per year ($100,000 over the term of the consent order) on advertising and outreach directed to residents and prospective residents of majority-Black and Hispanic census tracts in the Tulsa Lending Area;
Advertise its mortgage lending services and products to majority-Black and Hispanic census tracts in the Tulsa Lending Area at least to the same extent that it advertises its mortgage lending services and products to majority-white census tracts in the Tulsa Lending Area; and
Provide at least six financial education events per year, with translation and interpretation services in Spanish, targeted towards residents of majority-Black and Hispanic census tracts in the Tulsa Lending Area.
In its press release about the settlement, the DOJ indicated that it is part of the DOJ’s initiative to combat redlining, which it announced in October 2021. Other redlining cases that have been part of this initiative include settlements with ESSA Bank & Trust and Park National Bank.
Left to right: Chris Scott, Joey Mitchell, Shane Cranton
Ardan Data Services, the parent of affiliated companies Westcor Land Title Insurance Co., X1 Analytics and Grid151, announced the hiring of sales leaders Joey Mitchell, Shane Cranton and Chris Scott as it seeks to expand its customer base in lender and closing automation. Mitchell joins as senior vice president of enterprise sales for all three businesses, tapping into his knowledge of title, settlement and technology in order to support lenders, agents and underwriters and drive client acquisition. The companies also welcomed Cranton as executive vice president of enterprise sales, a role where he will draw from his experience of helping companies meet goals through both organic growth and targeted acquisitions. Both Mitchell and Cranton previously held senior roles at Flueid and Title365.
Additionally, Grid151, which provides digital platforms connecting real estate, title and mortgage industries, welcomed Chris Scott as director of national sales. In the role, Scott will work with title agents to implement workshare solutions to help drive growth. Before joining Grid151, Scott held sales roles at National Closing Solutions and Placer Title Co.
The Conrad Washington, DC is one of the newest and highest-end Hilton properties in the nation’s capital.
Situated within a short metro ride or 15-minute walk of the city’s prestigious monuments and museums, the hotel offers a combination of easy proximity for those wanting to explore the city and comfortable, modern touches for those preferring to relax on-site.
As part of the American Express Fine Hotels and Resorts portfolio, the property also provides AmEx Membership Rewards members additional perks and savings during their stay, from breakfast and other dining credits to guaranteed late checkouts and room upgrades.
Despite its location in one of America’s most historic cities, the Conrad Washington, DC sits in one of the city’s most modern neighborhoods.
The hotel is within a stone’s throw of CityCenterDC, an outdoor shopping district with high-end shops — think Louis Vuitton, Tiffany & Co. and the like.
Those hoping to use their stay as a jumping-off point for monument and museum visits have a few options. The first is by car.
Our Uber ride from the hotel to the National Mall took five to 10 minutes. If you bring a car with you to the hotel, you’ll pay $60 per night for valet parking.
To avoid traffic and parking fees, you can reach major landmarks by taking the D.C. Metro a stop or two. There are two Metro stops within a short walk of the hotel.
Many landmarks are walkable, too, if you’re able and willing. The Capital One Arena, home to the Washington Wizards and Capitals, is four-tenths of a mile away on foot.
Perhaps the destination most convenient to the hotel is the Washington Convention Center, which is just a couple of blocks away and, in fact, was visible from our hotel room window.
This Conrad property stands out with its black, all-glass look. Upon its opening in 2019, Hilton described it as “architecturally striking,” and that’s not overstating it.
You’ll take an elevator or escalator to reach the front desk. The hotel lets in extensive natural light through floor-to-ceiling windows in many rooms and a skylight in the lobby.
You’ll also find white marble throughout the building, from the floors to the walls.
Most of the views from the rooms and restaurant are of CityCenterDC and the convention center. If you do manage to catch a glimpse of the Washington Monument or U.S. Capitol from a high floor, it’ll be a distant view.
Food and beverage options
The Conrad’s main restaurant is called Estuary. The seafood restaurant includes a bar, lounge-style seating area and a larger dining room with an open-concept kitchen.
All of Estuary’s ingredients come from the Chesapeake Bay region. Yes, that means you’ll find plenty of seafood-oriented offerings — crab included — on the menu, though there’s a little something for just about any palate.
And that’s a good thing because guests who book through AmEx Fine Hotels and Resorts will want to eat on-site. AmEx Fine Hotels and Resorts guests get a $100 food and beverage credit per stay and a $60 daily credit toward breakfast or brunch.
At our predinner happy hour, my wife and I thoroughly enjoyed the crispy pig ears, ceviche and hush puppies with yuzu aioli and Maryland crab (and come to think of it, we probably didn’t need dinner afterward).
Breakfast is served in the Estuary’s cozier Blue Willow Room. While I had no complaints about my bacon, egg and cheese on a croissant, anyone who doesn’t order the crab Benedict — as my wife did — will have order envy.
Because we visited on a cold night in January, the hotel’s Summit Rooftop bar was closed for the season, but it features appetizers, beverages and great views of D.C.
The hotel also has room service available late into the night, and a more upscale, personalized room and dining experience through its pricier Sakura Club.
Accommodations
I was upgraded to a studio suite, featuring a distinct entryway, living room and sleeping area. Those hoping to watch some TV can sit on the couch or chair next to a floor-to-ceiling window.
There’s also a table for those wanting to get work done or enjoy in-room dining.
The king bed sat across from a second TV equipped with cable, Netflix and YouTube capabilities.
The nightstands are fully outfitted with plenty of USB and AC outlets, and full light controls that control the electronic “do not disturb” light outside the front door.
Featuring two sinks and marble walls, the bathroom included rain-style shower heads and large, bolted-to-the-wall shower products. These larger bottles are a nod to the sustainability initiatives many hotel chains are undertaking to reduce plastic waste.
A favorite touch of mine at higher-end hotel rooms showed up here: Nespresso machines instead of the old-school coffee makers.
The Conrad caters to business travelers and those looking for an exceptionally comfortable place to recharge in between sightseeing. To that end, you won’t find a pool or spa on-site.
However, on top of its top-notch eating and drinking locations, you’ll find expansive meeting space, event rooms and balcony seating areas overlooking CityCenterDC. The balconies are a great place to enjoy a drink or spend time outdoors.
The fitness center is well equipped with treadmills and weights alongside several Peloton bikes, as is now the case at many Hilton properties nationally.
Are dogs allowed at the Conrad Washington, DC?
Count us among the travelers who brought a four-legged friend along for the stay. The Conrad is a pet-friendly hotel, though you’ll have to pay a $75 nonrefundable fee.
Our French bulldog received a water bowl and Conrad-branded bandana for the visit.
Being in the middle of a concrete-dominant city neighborhood, finding pet relief areas wasn’t the simplest experience, but there are grassy spaces within a block or two in each direction.
How to get to the Conrad Washington, DC
The hotel is located along New York Avenue between 9th and 10th streets Northwest.
MetroCenter, the DC Metro system’s central-most station, is just three-tenths of a mile from the hotel. The station connects to Ronald Reagan Washington National Airport (blue line) and, at long last, Washington Dulles International Airport (silver line).
MetroCenter is also just a few stops from Union Station, serviced by Amtrak and commuter trains, including those arriving from Baltimore/Washington International Thurgood Marshall Airport.
Is the Conrad Washington, DC a good hotel?
While the Conrad Washington, DC’s proximity to D.C. landmarks and comfortable accommodations make it a great option for any visitor to the U.S. capital, the value we enjoyed as an AmEx Fine Hotels and Resorts guest made the stay stand out.
Add in complimentary premium Wi-Fi and and a guaranteed 4 p.m. checkout that allowed us some morning museum visits before leaving town, and there’s no doubt the perks add up.
(Top photo courtesy of Sean Cudahy)
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
Bright, airy, all-white spaces have certainly had their moment in the sun, but as summer creeps toward fall, we’re noticing design trends take a darker turn. Just take Behr Paint Company’s pick for color of the year: a soft, sophisticated shade of black called Cracked Pepper. They’ve got the data to back up this pick, too. According to the press release, more than half of Americans say black tones give a home fresh energy and an updated vibe.
It’s not hard to see why this dark color is poised to overtake its brighter alternatives as the neutral du jour. Black has the same timeless, goes-with-anything appeal as lighter neutrals like white or beige—but without any of the danger of looking bland or boring. It’s sleek, dramatic, and a sure-fire way to punch up any color scheme.
Painting your walls jet-black is one way to try out this trend, of course. But if you’re not quite ready to dive in headfirst, these black home decor picks will help you dip your toes into darker waters:
7 Fall Home Trends You’re Going to See Everywhere This Season, According to Designers
American Bank of Oklahoma has agreed to invest $1.5 million in credit opportunities for neighborhoods of color in the Tulsa metropolitan area as a settlement with the Department of Justice in an alleged redlining case. The bank denies the allegations.
The DOJ complaint, filed in federal court, claims that the bank failed to provide mortgage lending services from 2017 through at least 2021 in neighborhoods in and around Tulsa, including those that were the site of the 1921 Tulsa Race Massacre.
According to the complaint, all branches and loan production officers were in majority-white neighborhoods and bank employees, including executives and LOs, sent and received emails containing racial slurs and racist content.
The DOJ claims that the bank excluded a majority of Black and Hispanic clients from its service area and ultimately reinforced and perpetuated segregated housing patterns because of race, color or national origin. The investigation followed a Federal Deposit Insurance Corporation (FDIC) referral.
“Providing equal access to credit is essential in every community, but the painful history of Tulsa makes this agreement particularly poignant because the redlined areas include historically Black neighborhoods that have endured the legacy of racial violence and the continuing effects of segregation and discrimination,” Kristen Clarke, assistant attorney general of the Justice Department’s Civil Rights Division, said in a statement.
“American Bank of Oklahoma engaged in the illegal practice of redlining and failed to serve the diverse members of our Tulsa community as they attempted to purchase homes,” Clinton Johnson, U.S. Attorney for the Northern District of Oklahoma, said in a statement.
The American Bank of Oklahoma denied the allegations in a statement but said it “has agreed to resolve the matter to avoid the cost and distraction of protracted litigation.”
As part of the settlement, the bank will invest at least $950,000 in a loan subsidy fund for residents of majority-Black and Hispanic neighborhoods in the Tulsa area; $100,000 for advertising, outreach and consumer education; and $100,000 for community partnerships.
In addition, the bank will open a new community-oriented loan production office in the historically Black area of Tulsa and ensure at least two mortgage LOs are dedicated to servicing majority-Black and Hispanic neighborhoods.
Founded in 1998 by chairman and CEO Joe Landon, along with others, the bank has $383 million in assets and full-service branches in Collinsville, Disney, Muskogee, Ramona and Skiatook.
American Bank of Oklahoma originated $97 million in mortgages in the last 12 months, per the mortgage tech platform Modex. The lender has seven branches and 23 active LOs. Purchases were 49.8% of its volume in the last 12 months, compared to 38.1% in refis.
“As Oklahomans, we carry a profound sense of sorrow for the tragic events of the Tulsa Race Massacre over a century ago. It is with deep concern that we note the Justice Department’s decision to reference this distressing historical event in its complaint against our bank, established a mere 25 years ago,” the bank said in a statement.
U.S. regulators are active in investigating redlining cases.
In June, the DOJ announced a $3 million redlining settlement with ESSA Bank & Trust, which followed a $31 million settlement with City National Bank in January. In 2022, settlements were made with Trident Mortgage Co., Warren Buffet’s Berkshire Hathaway subsidiary, and Lakeland Bank.
Recently, however, equity has built up in millions of homeowners’ properties thanks to three years of rising home values. This has lead to an incread many owners are also using equity to pay off their mortgages early.
An analysis by Black Knight Financial Services[1] found that chronically low interest rates motivate millions of homeowners to take advantage of rate declines by refinancing again soon after their last refinances.
Falling rates create “serial refinancers”
The number of owners who refinanced again after refinancing under two years ago jumped by 800 percent from Q1 2014 to Q1 2015. These “serial refinancings” dropped by nearly 65 percent when rates rose toward the end of last year, yet they still accounted for two-thirds of rate/term refinances in Q4 2015.
Although interest rates have been on a roller coaster over the last year, rate and term refinances from borrowers who’ve held their mortgage for less than six years have remained steady. Term reductions remain popular among borrowers taking advantage of low rates. Not surprisingly, they are more popular among aged loans, as borrowers do not want to restart the clock on their mortgage, the report said. Black Knight found that some 37 percent of rate/term refinances in Q4 2015 included a term reduction.
“These two trends are linked, as term reductions are more popular among loans of a greater age, as those borrowers are understandably more hesitant to restart the clock on their mortgages,” the study found.
The data showed that serial refinance extracted $68 billion in equity via cash-out refinance transactions in 2015—the most since 2009 and a 53 percent increase over 2014. Cash-out refinance borrowers continue to represent a relatively low risk profile for lenders; the average post-cash-out LTV is 67 percent, with an average credit score of just under 750.
What this means for you—shorter terms may not pay for refinancing
However, serial refinancers may end up losers in the long run. If they reduce the term of their loan too much, they may end up end up not saving enough on lower interest rates over the course of the loan to pay for the cost of refinacing.
Greg McBride, senior financial analyst for Bankrate.com, says a general rule of thumb is that it is worth it to refinance if the homeowner can make back their investment within three years or less. “If your time horizon is not long enough, you are not going to be able to recoup the cost of refinancing,” he says.
As term reduction refinances grow in popularity, the active mortgage sector shifts as well. Five percent of all active mortgages had 20-year original terms (highest share in over ten years); 16 percent are 15-year original term; and 2.5 percent are 10- year original term (down slightly from last year), according to Black Knight.
American Bank of Oklahoma has agreed to settle redlining charges brought by the Department of Justice and will make restitution by lending $1 million in Black and Hispanic neighborhoods in Tulsa.
Executives of the Collinsville, Oklahoma, bank denied wrongdoing. In a press release late Monday, they said they entered into the settlement “to avoid the cost and distraction of protracted litigation.”
Chief Executive Joe Landon criticized the DOJ for disclosing racially charged emails the government claims American Bank employees forwarded to each other, and for mentioning the 1921 Tulsa Race Massacre in its press release announcing the settlement, as well as in the complaint against American Bank.
Both consent order and complaint were filed Monday in U.S. District Court for the Northern District of Oklahoma in Tulsa.
According to the DOJ’s 24-page complaint, American Bank employees circulated emails that contained racial slurs, including use of the “N-word” in its entirety. Other emails exchanged among co-workers at the bank touched on sensitive topics like immigration, gang violence and the supposed decline of Detroit, Michigan.
But in an interview Monday, Landon said “the majority” of the emails DOJ referenced came from outside the bank “and I have no control over that.”
“I get 100 to 200 emails a day. I don’t read them all,” Landon added.
In a subsequent statement, American Bank claimed that “many of the quotes were taken from unsolicited communications forwarded or written by third parties, and others were taken out of context.”
“Any racially or ethnically insensitive sentiments included in these emails do not reflect our culture or values,” American Bank added in the statement.
The DOJ also noted some of the neighborhoods American Bank allegedly redlined were victimized in the 1921 Race Massacre, where white rioters destroyed the city’s largely African American Greenwood District, killing as many as 300 people, according to some accounts.
“Providing equal access to credit is essential in every community, but the painful history of Tulsa makes this agreement particularly poignant because the redlined areas include historically Black neighborhoods that have endured the legacy of racial violence and the continuing effects of segregation and discrimination,” Assistant Attorney General for Civil Rights Kristen Clarke said Monday in a press release.
The complaint is more explicit on this point, stating the “area that [American Bank] redlined includes the historically Black neighborhoods in Tulsa that were the site of the 1921 Tulsa Race Massacre.”
Landon, for his part, said he founded American Bank in 1998, nearly eight decades after the attack on Greenwood. He voiced his concern that mentioning the Race Massacre might dampen customer interest in the lending program American Bank has agreed to undertake in the settlement.
“We were kind of shocked that they brought that up,’ Landon said Tuesday in an interview. “We didn’t see the relevance. We’re moving into a new community. We’re going to do our best. I think we can be successful there. … I sure don’t see it as helping.”
Andrea Mitchell, American Bank’s attorney, called the DOJ’s references to the 1921 Race Massacre “politically charged and entirely irrelevant.”
“Seeking to link bank conduct to this event over 100 years ago entirely undermines the remedial purpose of a consent agreement, which is to create a framework for banks to develop trust with minority communities to be able to better serve those communities with mortgage credit and other banking services,” Mitchell, managing partner at the law firm Mitchell Sandler in Washington, said Tuesday in a statement.
A DOJ spokesperson declined to comment on its references to the 1921 Race Massacre.
The DOJ claimed the $383 million-asset American Bank steered clear of minority neighborhoods in the Tulsa metropolitan statistical area, confining its operations to majority white communities. “American Bank of Oklahoma engaged in the illegal practice of redlining and failed to serve the diverse members of our Tulsa community as they attempted to purchase homes,” Clinton Johnson, U.S. attorney for the Northern District of Oklahoma, said in DOJ’s press release.
The DOJ alleged that American Bank’s federal regulator, the Federal Deposit Insurance Corp., warned about fair-lending risk and recommended specific measures to address the issue. None of the recommendations were implemented and, as a result, American Bank made far fewer mortgage loans in Black and Hispanic neighborhoods compared with similarly situated lenders, according to the DOJ.
But Landon said American Bank’s business model has been to focus on small towns in eastern Oklahoma, rather than deliberately avoiding lending to mortgage borrowers in Tulsa’s minority neighborhoods. “I’m from a small community,” Landon said Tuesday. “I’ve always lived in a small community. I love small towns. That’s one of the reasons we chose where we are. It had nothing to do with race.”
Inside: Looking to celebrate Christmas on a budget? This guide has you covered with creative and affordable ways to do just that.
Are you stressed out about how to afford a fabulous Christmas on your budget? Worry not.
This festive season isn’t about how much cash you fork out, it’s about creating lasting memories and spreading joy.
Why let financial woes dampen the joyous yuletide spirit when you can celebrate a charming Christmas on a budget?
Remember, it’s your money, your decisions, and your rules – no guilt trips or social pressures should force you into spending Christmas in debt.
Today you will learn:
Determine your Christmas budget: Figure out what’s a comfortable amount for you to spend and stick to it religiously.
Be creative with gift giving: Homemade presents or heartfelt letters can be more valuable than pricey items.
Find simple ways to save money: Use these money saving tips to enjoy a festive holiday season.
This holiday season, celebrate responsibly, within your means, for a Christmas that’s merry, bright, and totally guilt-free!
Why Celebrate Christmas on a Budget?
Embracing a budget-friendly Christmas can prove to be not only a smart choice but one filled with warmth, delight, and genuine joy.
Enjoy valuable family bonding time with exciting games and shared activities. Volunteer work, a day of holiday baking, or a simple drive-through Christmas lights sightseeing trip can leave a lasting impression. Look through this Christmas bucket list.
Opt for economical, yet thoughtful gifts or stick to fun gift exchange rules, such as the “four gift rule” for your kids. Remember, it’s the sentiment behind the gift that matters the most.
In essence, an economical holiday season needn’t be a dull affair, rather it’s an opportunity to make it more heartfelt and unforgettable.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What to buy for Christmas on a tight budget?
Yes, friend, you can buy meaningful Christmas gifts while sticking to a budget.
In fact, the thought behind a gift is often what makes it special, not the price tag.
A few ideas include homemade gifts, gift cards, subscriptions, and second-hand items. With a little creativity, you can find the perfect present for everyone on your list without spending a fortune.
Below you will find plenty of great gift guides for Christmas that won’t break the bank.
Benefits of a Budget Christmas
1. Allows you to plan ahead and stay on track 2. Prevents overspending 3. Buy gifts that are within your budget 4. Focus on quality over quantity 5. Ensures that everyone gets a gift 6. Helps you avoid debt during the holidays 7. Prevents you from feeling stressed out about money during the holidays 8. Be creative and come up with unique gifts 9. Save for next year’s holiday budget 10. Stay connected to the spirit of the holidays
Savings with Christmas on a Budget
From homemade Christmas decorations to unique gift ideas, it’s possible to create magical moments that’ll last a lifetime without a hefty price tag.
Embrace the true spirit of Christmas – love, family, and togetherness, rather than commercialism, and read on to discover how.
Learn the simple ways to celebrate the festive season without breaking the bank with our creative and budget-friendly Christmas ideas.
1. Think about a No Gift Christmas
Having a No Gift Christmas is a creative and budget-saving alternative to traditional holiday festivities, especially suitable if funds are tight. Why not consider it?
Here are some benefits:
You can alleviate the holiday stress often associated with spending on gifts.
It fosters the idea of Christmas as a season of togetherness, not just gift-giving.
It offers the potential for unique and memorable experiences, like volunteering or creating fun traditions with your loved ones.
Remember, having a memorable Christmas doesn’t have to cost much, or anything at all Learn more about a no gift Christmas.
2. Make Your Own Gifts
DIY Christmas gifts are your perfect solution. They not only save pennies but are laced with your love and creativity.
Start by exploring plenty of creative gift ideas available for free online. Need help? Look for “homemade gifts for Christmas” and you’ll be surprised.
Compile a list of possible gifts from homemade candles to personalized coupon books, keeping the recipient’s likes in mind.
Remember, your efforts will reflect in your gift. So, unleash your creativity and let the magic begin.
3. Borrow Instead of Buy
Borrowing instead of buying is a clever way to have a festive holiday while keeping things budget-friendly. This concept is simple: swap decorations, games, or even gifts with friends, neighbors, or family
Discuss your idea with your circle and organize swapping parties to exchange items.
The key is to creatively engage and make it a fun, budget-conscious activity. After all, Christmas is about sharing and caring!
Remember, return borrowed items in their original condition to maintain trust.
4. Attend Free Events
The Christmas season doesn’t have to be a strain on your wallet. Attending free community events can provide fun and festive celebrations:
To find these events, check your local newspaper or community websites. Be sure to:
Take advantage of free refreshments, but also bring your own to share.
Consider hosting a potluck dinner before or after community events.
Attending free events supports your local community.
Remember, Christmas is about togetherness, not extravagant spending.
5. Make Your Own Decorations
To create a festive atmosphere this season, you could repurpose items around your house or make your own decorations.
Choose a color theme and gather items in those shades, then place them together on a mantel or coffee table to create a coordinated layout.
For a natural touch, clip pine needles, branches, or herbs from your garden, and enhance them with glitter.
Additional budget-friendly options include taking advantage of sales and discounts at thrift stores or crafting handmade decorations such as ribbons from fabric strips or Christmas cookie ornaments.
6. Keep Track of Your Christmas Expenses
Just like throughout the year, budgeting is critical to your financial success.
Nothing changes with Christmas, it is crucial to track and budget your holiday expenses. Jot down every potential cost – from the Christmas tree, and food, to holiday décor.
Be thoughtful about what you really need and opt for items you can use for years.
This is one of the cash envelope categories I recommend saving for. To effectively manage your expenses, assign specific dollar amounts to each item on the list, ensuring you stay within your budget.
Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances.
Start Your Free Trial.
7. Share the Spirit
Embracing frugality during the holiday season can not only help you save money, but can also create memorable experiences and meaningful connections.
Small gestures, such as sending heartwarming physical letters to loved ones instead of emails, can still convey thoughtfulness and spur the holiday spirit.
By centering your holidays around family activities and endeavors, like homemade ornaments or a scavenger hunt with small gifts, the focus shifts from materialism to fellowship and unity.
Find more frugal Christmas ideas.
8. Check Out Bargain Stores
Bargain stores provide the perfect solution for savvy holiday shoppers looking to save money without compromising on quality or variety. Not only can you find unique, quirky gifts, but you can also keep a lid on your spending while doing so.
Stores like consignment shops or websites such as Craigslist often have high-quality used toys that are nearly new if you’re willing to look carefully.
Another option is to look at discount retailers like TJMaxx as they often host sales during the holiday season, making it even easier for you to save money while hunting for the perfect gifts.
9. Save Money Throughout the Year
Automating your savings for the Christmas season can be a practical and efficient strategy. The 100 envelope challenge is perfect for this!
By setting aside just $50 each month, you could accumulate up to $600 by December, providing a decent budget for your holiday expenses. This method can ease the financial stress during the holiday season, letting you enjoy the festivities without worrying about overspending.
Consider setting up automatic transfers to a high-interest savings account. This ensures your Christmas funds grow without your intervention.
Lastly, try a no-spend month where you only cover essential bills, giving your savings a significant boost.
10. Start a Side Hustle for More Money to Spend
Engaging in side hustles throughout the year can help you significantly cover your holiday expenses.
By delivering food, completing microtasks, selling gently used items, or shoveling snow, you create extra earnings that can go directly into your Christmas fund.
For instance, extra income from a seasonal retail job could help finance gift-purchasing without straining your usual budget.
This strategy not only prevents potential post-holiday debt but also allows you to enjoy the season without financial stress.
In fact, more people are interested in how to make money online for beginners.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
11. Shop Online Instead of Going to the Mall
Shopping online for your Christmas gifts can seriously ease your holiday stress, and potentially save you money.
Let’s explore why skipping the mall and clicking your way to a merry Christmas might be your best bet this year:
No dealing with holiday crowds or cranky shoppers.
Enjoy sales and deals without leaving your home.
Track prices over time to grab the best deals.
Use Rakuten to save even more money on purchases.
For smart online shopping, prepare a list of gifts before diving in. Take advantage of the “wish list” option on platforms to curate items of choice and make sure you first glance over deal sites before making purchases.
12. Have a Christmas Potluck
Host a festive potluck! Invite friends and family, asking each to bring their favorite dish.
Here are some tips for a successful event:
Get organized and ask guests to bring specific types of food. This prevents duplicate dishes and ensures a balanced meal.
Introduce a fun element. Try a cookie swap or a silly game like “Guess the Cookie.”
Keep decor simple. A large vase filled with greenery and baubles can effectively replace a pricey Christmas tree.
Remember simplicity is key in food and decor. Costly ingredients and complicated recipes aren’t prerequisites for a memorable Christmas.
Remember, the holiday is about togetherness, not extravagance!
13. Make Your Own Cookies
There’s a unique pleasure derived from making your own cookies during the holiday season instead of buying them. More so, the cookies you’ve invested your time and creativity into can double as thoughtful, homemade gifts, adding another level of sentiment.
Apart from being a cost-effective option, it brings an opportunity to bond with friends and family during cookie exchange or decorating gatherings.
Making your personally crafted cookies also gives you control over ingredients catering to specific dietary needs or preference
Indeed, making your own cookies adds value that surpasses the mere cost savings, it infuses the holiday season with warmth, joy, and a sense of shared experience.
14. Cross Off Activities from your Christmas Bucket List
Having a joyful Christmas doesn’t necessarily mean overspending. In fact, integrating cost-effective activities into your holiday routine can make the season more meaningful and fun.
This Christmas Bucket list post offers an extensive and diverse list of creative ideas for budget-friendly Christmas shopping, gifting, and celebrating.
Additionally, downloading the free printables and a Christmas Budget Template will make the process even more manageable and fun.
15. Have a No-Gift Party
A no-gift Christmas party is an affordable and fun holiday celebration where attendees do not exchange gifts. It’s a great option for those looking to save money and still enjoy the festive season.
Here are steps to make it happen:
Step 1: Decide on the party type, either a simple gathering or a potluck dinner.
Step 2: Inform guests about the no-gift policy in advance.
Step 3: Organize exciting, cost-effective activities such as a game night.
Step 4: Engage guests with games for a joyful event.
Expert Tip: Conversation and laughter are your best tools.
16. Make a Christmas Memory Book
Creating a Christmas memory book is an affordable and engaging way to celebrate the holiday season, especially when you’re on a tight budget.
To start, you can utilize items already at your disposal in your house such as old photos, greeting cards, and crafts.
Spend some time penning down heartfelt messages and your favorite holiday memories associated with each picture or craft. Embellish the pages with affordable decorating materials like glitter, stickers, or color pens.
Not only does this create a personalized touch, but it also serves as a nostalgic keepsake that can be cherished for years to come.
Tip: Digitize your memory book by creating an electronic version. This can also help preserve the original items.
17. Spend Time With Loved Ones
Celebrating Christmas on a budget doesn’t mean skipping on the fun.
It’s about cherishing time spent with loved ones, harnessing creativity, and making priceless memories that last a lifetime.
Here are some cost-effective activities you can embrace this festive season:
Share stories of memorable Christmas experiences.
Organize virtual celebrations with extended family and friends.
Create your own family-themed board game.
Bake Christmas cookies or make a popcorn Christmas tree.
Stream a Christmas church service.
If snow is around, engage in snow play.
Dance to classic Christmas music.
Put together an annual family calendar.
Participate in one of these Christmas Challenges!
Remember, it’s not about what’s under the tree that matters, but rather, who’s around it.
18. Stash Christmas presents all year
Do what I do! Begin addressing the issue of holiday budgeting by stashing Christmas presents all year round.
This is a smart and stress-reducing move!
Find deals throughout the year rather than spending lavishly in December. Hang on to items like discounted gifts in your secret gift closet!
As you build an inventory of diverse items, you will be ready for birthdays or sudden party invites – you’re always prepared!
Just be careful to stop shopping when your list is fulfilled to avoid overspending.
19. Write a Christmas Gift List
Creating a Christmas gift list can be an effective way to manage your holiday spending. This helps you understand the overall picture of your holiday expenditure.
Start by writing down the names of every person for whom you consider buying a gift.
Then, determine how much you’re willing and able to spend on each individual. This helps you understand the overall picture of your holiday expenditure.
Take time to brainstorm potential gift ideas within your decided budget for each person. This process can be even easier and more informative if you’re able to reference a gift list from previous years.
Ultimately, the goal is to ensure that your total intended spending is reasonable and manageable for your personal financial situation.
Remember, you may not need to buy gifts for everyone on your list – some individuals might appreciate homemade or free gifts just as much.
20. Choose Great holiday things to do for less
Set aside the societal notion of linking the joy of holidays to copious spending, and welcome small, inexpensive, yet heartfelt gestures.
Adopting a mindset that finds value in low-cost or even free activities, especially during the holiday season, can not only alleviate financial pressure but also create cherished memories.
Instead of focusing on extravagance and materialistic desires, turning attention to experiences and emotional bonding can revolutionize the celebration!
You can always find things to do on Christmas Day.
21. Think Outside the Box With Gifts
Finding affordable gifts doesn’t mean you have to sacrifice quality or thoughtfulness.
By utilizing a gift guide such as the 4 gift rule – something they want, need, to wear, or read – you can ensure a well-rounded and meaningful set of gifts for each child.
Alternately, consulting lists of inexpensive yet creative suggestions like those curated by Money Bliss can help you find unique presents that won’t break the bank. These affordable finds range from books, gadgets, to personal care items, and home accessories.
Regardless of budget, the key to successful gift-giving lies in understanding the recipient’s needs and interests.
22. Consider Re-Gifting
Re-gifting is a practical, budget-friendly, and environmentally-friendly way to celebrate Christmas. It allows unused or unwanted items another chance to be appreciated and might save you some cash too.
Here are some regifting tips:
Ensure the gift is in good condition, unwanted but quality, and not linked back to its original giver.
Consider the preferences of the new recipient, ensuring the gift suits them.
Completely re-wrap the gift to give it a fresh appearance.
Some may debate the etiquette of re-gifting but remember, it’s more about the thought and less about where the gift originated.
Making smart choices can ensure a successful and fun re-gifting experience this festive season.
23. Use Gift Cards or Cash App to Stay on Budget
Purchase a prepaid gift card from your favorite store to ensure you’re limiting your spending to a specific amount and preventing the temptation of overspending.
If you’re planning to shop from a range of places, opt for a Mastercard of Visa prepaid card. While there may be an activation fee, it’s ultimately going to be less than what you’d potentially overspend.
Another great option is using the Cash App card and learn where you can load your Cash App card.
Also, you can use budget tracker apps like YNAB or Simplifi. These can help you meticulously keep track of your spending and stay within your budget.
Remember, the key is to stick to a budget and avoid falling prey to impulsive purchases. Using gift cards or these budgeting apps makes it easier to limit and monitor your expenses.
24. Use Money Gift Ideas Wisely
Money gift ideas can be an excellent alternative to traditional presents, especially when budgeting is a critical aspect.
Too many times, money gift ideas are overlooked as impersonal, but a money gift box or money cake will definitely surprise the recipient.
This will guarantee you will stay within your target budget by using money gift ideas.
For larger families, a gift exchange with a set price limit can keep costs manageable.
25. Donate to Charity Or Volunteer
Volunteering at a charity is a meaningful way to give back during the holiday season that doesn’t put a strain on your budget.
Instead of buying more items a person may not need, you’re investing time, money, and energy in causes they care about. Although this doesn’t require a financial commitment, it’s a generous gift full of sentiments.
Furthermore, donating money to a charity in someone’s name is a thoughtful and effective way to honor someone who already has everything they need. It allows the recipient to feel the joy of giving, yet remains a budget-friendly option for the giver.
If you’re keen on frugal yet meaningful ways to celebrate Christmas, how about considering charitable donations? It’s a splendid alternative to traditional gift-giving – not hard on your wallet, plus it makes a difference!
Most people know it is hard enough to buy gifts for the woman you who has everything or kids who have everything.
How to Make a Christmas Budget
A lot of joy and goodwill is associated with the holiday season; however, it also brings with it the challenge of managing finances meticulously to avoid slipping deep into credit card debt.
One of the effective ways to keep your finances under control during this festive time is by creating an efficient Christmas budget.
In the following sections, we will delve in detail into the simple process of creating a feasible Christmas budget that you can adhere to.
Step 1: Decide What You Want to Spend on Christmas
Determining how much to spend at Christmas depends on your individual budget and financial situation.
On a general basis, most people will overspend at Christmas in order they don’t look broke or not generous.
However, that thought process is backward if you are trying to reach your financial goals. You need to decide on how much you want to spend at Christmas time.
That is why these consumable gifts tend to be popular.
Expert Tip: Avoid surpassing your Christmas budget to prevent feeling the pinch of holiday debt later on. Stick to your allocations and plan things out in advance.
Step 2: Make a List of Christmas Gifts
Creating a list is essential for budget-friendly and stress-free Christmas shopping.
This prevents you from forgetting someone important by intuitively documenting all the people you intend to get gifts for. Also, allows for the clear allocation of your total Christmas budget, preventing overspending on some individuals and under-spending on others.
If you aim to economize, consider the 4-gift rule: something they want, something they need, something to wear, and something to read. This method provides thoughtful gifts for children while maintaining a manageable budget.
More importantly, a well-planned list significantly reduces the time spent shopping and aids in buying gifts early before the holiday rush begins.
Expert Tip: Don’t forget to consider items like stocking stuffers, last-minute gifts, or teacher’s gifts, and the cost of extra food for holiday gatherings.
Step 3: Prioritize Your Spending
Prioritizing where to spend money relative to your financial goals is crucial to achieving long-term financial stability and health. It ensures that your money is allocated effectively, giving priority to necessities and matters that directly support your objectives.
This practice can also prevent unnecessary expenditures and helps in averting serious overspending, especially during high-spending periods like the Christmas season.
Thus, you will need to prioritize your Christmas budget before the festive season. It helps prevent overspending and keeps you debt-free.
Step 4: Limit Your Christmas Spending
First, it is important to abandon the notion of a “perfect Christmas” and focus on enjoying the holiday within your budget.
You can even educate your family members about the concept of holiday budgeting and involve them in your planning process.
Consider proposing less expensive alternatives to traditional gift-giving within your extended family such as handmade or recycled gifts, or conducting a white elephant exchange with budget-friendly novelty items.
Don’t overlook smaller gifting costs that can accumulate, like Christmas stockings – instead fill them with practical, affordable items that your family needs.
Save money on wrapping supplies by using items readily available at home like newspaper or butcher paper and involve the kids in a fun, cost-saving activity by having them create homemade gift tags.
Remember, sticking to your budget doesn’t mean letting go of the Christmas spirit. It’s about celebrating responsibly and starting the New Year without financial stress.
Step 5: Ignore Sales and Keep it Simple
Sales, sales, sales – the deal is too good to pass up!
Here are key ways to overcome this common dilemma.
Resist impulsive purchases compelled by sales, and stick strictly to your shopping list.
Pause before purchasing an item not on your list, consider the necessity.
Keep emotions in check, they run our shopping decisions.
Conquer emotional spending, stay true to your budget.
Discourage additional spending once your list is fulfilled and the budget exhausted.
Remember that it’s better to focus on affordable presents rather than seeking the perfect, but expensive, gift.
Step 6: Shop for Christmas Gifts Early
Start early. Begin watching for sales on items from your Christmas gift list way before the season’s rush.
Begin monitoring for sales early, especially during holidays that precede Christmas, to stretch your budget further.
Make use of Black Friday and Cyber Monday. They provide excellent opportunities to snag deals on your gifts.
Expert Tip: Remember to stick to your list. If it isn’t on your list, pass it up. It’s challenging but keeps your budget in check.
Step 7: Reuse and Recycle Holiday Decorations
Start by taking stock of items in your house. Don’t limit yourself to traditional decorations—choose a color theme and scan your home for items that fit and can be repurposed.
Use the resources outdoors. Pine branches, pine cones, mistletoe, and holly can be fashioned into decorations from nature’s catalog.
Even consider trading decorations with friends or family. This can bring a new look to your home without the need for new purchases.
Get creative with items from dollar stores that can be combined to appear high-end and save costs.
How to buy gifts for Christmas on a budget?
Maintaining a budget doesn’t mean you can’t enjoy giving gifts this Christmas.
Use these gift guides to help you out:
Remember, the joy is in the giving, not in the cost of the gift.
Time to Create Your Holiday Budget and Make it Memorable
Regardless of your financial situation and the extent of your holiday plans, this guide will help you maintain financial stability while fully embracing the Christmas spirit.
By setting aside a prescribed sum for your holiday expenses, you’re able to enjoy the season without the stress of unexpected expenditures or financial shocks after the holiday haze has cleared.
Celebrating Christmas on a budget doesn’t mean skipping the fun or the warmth.
With just a dash of creativity and thoughtful planning, you can make the yuletide season enjoyable and meaningful without breaking the bank.
Use the festive tips provided and start planning your budget-friendly Christmas now. Remember, the true essence of Christmas isn’t in extravagant spending—it’s about love, joy, and spending quality time with those who really matter to you.
Don’t forget to access a free printable worksheet for your customized holiday budget.
Know someone else that needs this, too? Then, please share!!
DSCR, Non-Del, CRM, Pricing Engine, Real Estate Agent Products; STRATMOR Customer Service Workshop; NAR President Resigns
<meta name="smartbanner:author" content="We now have a native iPhone and Android app. Download the NEW APP”>
This website requires Javascrip to run properly.
DSCR, Non-Del, CRM, Pricing Engine, Real Estate Agent Products; STRATMOR Customer Service Workshop; NAR President Resigns
By: Rob Chrisman
3 Hours, 5 Min ago
“What did the happy real estate agent put on her sign? I have lots to be thankful for.” (Feel free to use that gem at your next presentation at Sotheby’s.) In response to yesterday’s opening paragraph comments about housing supply, from Maryland Ken Sonner sent an article about how New Zealand managed to shift its zoning to help alleviate the supply issues and lower rents. People like lists for some reason, and here is the “The 15 most in-demand ZIP codes for U.S. homebuyers, and #1 is in Ohio.” But heading back to inventory, affordable housing, and such, the topic is certainly percolating up to Capitol Hill. A bipartisan duo in the U.S. Senate introduced a bill that would address a shortage of affordable housing in rural communities by easing the process for non-profits to acquire properties with USDA rural housing loans. It would also decouple the related rental assistance so that the assistance doesn’t end when the mortgages mature. (Today’s podcast can be found here and this week’s is sponsored by Black Knight. Black Knight is an award-winning software, data and analytics company that drives innovation in the mortgage and real-estate industries, and the capital and secondary markets. Listen to an interview with Servbank’s Anthony Forsberg on default and loss mitigation.)
Lender and Broker Software and Services
Don’t discount the value of prioritizing your customers. Many servicers are adding customer-focused technology to give homeowners self-service options and more. Just take it from AimLoan, an internet-direct mortgage lender that recently implemented MSP®, Black Knight’s loan servicing system, along with several other customer-focused solutions. After recently moving its servicing portfolio in-house, AimLoan needed proven technology to enhance the customer experience of today and prepare for growth of tomorrow. Ready to join AimLoan by enhancing the way you serve your own customers? Learn more about MSP today.
Get valuable face time with real estate agents: host your own For Sale to Sold workshop. MGIC’s ready-made workshop kit makes it easy for loan officers to guide agents to a deeper understanding of the mortgage process. The benefits of hosting your own workshop? You’ll position yourself as an expert, build stronger relationships and earn more referrals. Request your For Sale to Sold workshop materials to get started.
Loan servicers are invited to attend a free webinar on the MERS® Annual Report and third-party review process next Thursday, September 7th, at 3pm ET. Hear from the experts at Falcon Capital Advisors, an experienced and trusted third-party review firm, about the Annual Report process and how your organization can ensure it remains compliant with MERS® System requirements. Click here to register.
You don’t have to accept lower profitability when loan volume is down. Instead, find efficiencies in your mortgage process that add up to cost savings and bolster your bottom line. Loan officers using Maxwell Point of Sale achieve more with less work, closing 20% more loans and moving loans to clear to close 35% faster. Maxwell POS syncs with your LOS bi-directionally, keeping real-time data in one place for easy management and seamless updates and preapprovals. Managers have visibility into the team’s entire pipeline, allowing them to identify opportunities for quick adjustments and better results. If you’re ready to maximize your mortgage operations and take advantage of every basis point, schedule a call with the Maxwell team.
In today’s low-volume, purchase-focused market, every mortgage lender’s goal is to optimize their profits and overall efficiency. The catalyst? The right product and pricing engine. In a recent article with HousingWire, industry expert Parvesh Sahi of Polly emphasizes three critical components to thrive in this ultra-competitive market environment: 1.) Speed to market, 2.) Margin management, and 3.) Loan officer experience and education. According to Sahi, creating the connective tissue between these three primary components is an enormous opportunity. Are you taking it? Learn more, here: Why the right PPE matters.
“It’s no surprise that many mortgage lenders use more than one channel to maximize loan origination opportunities. Maybe you’re a traditional retail shop with a growing consumer direct team, or you decide to shift resources to wholesale while your retail group rides out a rough patch. What is surprising is how many lenders use two or even three different CRM systems to meet their multi-channel needs, each one increasing the inefficiency and cost of their sales and marketing. Download our free guide, “How to Find the Ideal CRM” and learn how to streamline your tech stack and improve sales and marketing performance across all your channels.”
Broker and Correspondent Products
“Brokers: Are you attending NAMB National? Meet NexBank’s team at booth #12 and learn why we are a trusted investor and warehouse bank partner to brokers and correspondents nationwide. NexBank is continuously ranked as a top lender by Inside Mortgage Finance, and we continue to grow in the wholesale and correspondent space. Our wholesale and non-delegated channels offer a suite of Portfolio, Conventional, FHA and VA products. Our competitive portfolio products include Full Doc and Reduced Doc (Non-QM), available for loan amounts from $200,000 to $2 million, with ARM and Fixed Rate options, along with Interest Only. Ask about our unique 6-month ARM! Plus, portfolio loans have no LLPAs for FICO or second homes and allow cash-out to 80 on primary with no dollar cap on cash-out amount, where applicable by law. Contact us. Restrictions apply. Subject to change. For mortgage professionals. Not intended for general public. Member FDIC. Equal Housing Lender. NMLS 672886.”
Long-term Rental or Vacation Rental? Visio Lending is the nation’s leader in Non-QM Investor DSCR loans for buy and hold SFR rentals with nearly a decade of experience and over $2.5 billion in originations. No-DTI, 30-year terms, rate buy downs, free 45-day rate locks; I/O and Sub-1 DSCR options available. Through our top-notch Broker Program, brokers are able to earn up to 2 points YSP, and 5 points total. Visio Brokers can count on a designated Account Executive and in-house processing.
STRATMOR Customer Experience Workshop
According to data from Gartner, two in three companies say customer experience is the primary area where they will compete for business. Lenders, how is your business utilizing customer feedback to drive revenue growth in today’s challenging market? Need help? Join STRATMOR Group’s customer experience experts as well as peer lenders for STRATMOR’s Customer Experience Workshop on September 25, 26 and 27. This highly interactive, virtual workshop is designed to give lenders specific, actionable ideas: you’ll learn how to optimize your loan processes to maximize repeat and referral business and achieve your growth goals in challenging market conditions. Register today!
Capital Markets
With a light day of data to open the week, investors continued to mull over Fed Chair Powell’s Jackson Hole Speech, which had a rather hawkish tone as he vowed to hike rates further, if necessary. Investors in Fed Funds futures got the message, ramping up bets that the Federal Open Market Committee will hike rates by an additional 25 basis points at the November meeting. The U.S. Treasury sold $45 billion in 2-year notes yesterday morning and $46 billion in 5-year notes in the afternoon, with both offerings meeting good demand ahead of today’s $36 billion 7-year note auction. We have a heavy week of data coming up with home prices and consumer confidence today, GDP tomorrow, the PCE Price Index on Thursday, and the jobs report on Friday.
Keeping things in perspective, two weeks ago, markets were buoyed by an upwards surprise in retail sales. However, last week’s durable goods report showed orders fell 5.2 percent in a sign that business investment is slowing. Despite potentially lower jobs gains, initial unemployment claims have remained fairly consistent throughout the year and were at a three-week low last week. Given the record over-supply of available jobs over the last year, the softening in the labor market may presently be manifesting itself in less job openings rather than increasing layoffs. There were about 14 percent fewer job openings as of August 18 than on January 1. Existing home sales fell for the second consecutive month in July as higher mortgage rates reduced demand as well as supply. Lower supply has put upwards price pressure on the limited existing homes availability. This allowed builders, armed with price and rate incentives, to insulate themselves from the housing slowdown. New home sales were up 4.4 percent in July. While recent inflation data is encouraging, hawkish talk from Fed officials has the markets split on whether another rate hike will be necessary before the end of the year.
Today’s calendar gets under way later this morning with Redbook same store sales and will be followed by home prices from S&P /Case-Shiller and the FHFA for June, July job openings from JOLTS, consumer confidence for August, Dallas Fed Texas services for August, the aforementioned Treasury auction of 7-year notes, and remarks from Fed Vice Chair of Supervision Barr. We begin Tuesday with Agency MBS prices roughly unchanged from Monday and last Friday and the 10-year yielding 4.20 after closing yesterday at 4.21 percent. The risk-free 2-year T-Bill is at, or above, 5.0 percent for the sixth straight day.
Employment, transitions, and NAR President resignation
“Citizens Wholesale Lending: If you’re an Account Executive looking for a solid Wholesale Lender, look no further than Citizens! Citizens Wholesale has been supporting the Broker and Non-Del community for the past 28 years with a commitment to delivering a best-in-class experience. As the mortgage landscape continues to evolve, Citizens remains a strong pillar for the Wholesale industry. We are currently hiring Account Executives in GA, NC, and SC to join one of the strongest bank-owned wholesale lenders in the country. If you’re interested in an opportunity to thrive and be a part of a winning team, learn more at our jobs page today!”
Allen Friedman, an industry veteran and long-time friend of this Commentary, has returned to his home of over 10 years, iServe Residential Lending. Allen joins iServe as Executive Vice President and will help to further develop and expand the company’s strategic growth and development initiatives. Co-CEO Ken Michael states “We are thrilled to have Allen back in this leadership role. He helped to create our culture and shares in our desire to ensure that iServe is a company that both MLOs and Branch Managers can join to build something extraordinary. With a can-do culture, our goal is to empower each MLO and Branch Manager with a voice in the company alongside the decision makers. Allen strengthens that platform.” iServe was established in 2007 as a multi-state residential mortgage banker and invites NMLS licensed Originators to apply. For a confidential conversation about joining iServe, contact Allen Friedman through his email or at 415-298-2500.
It’s hurricane season, and sure enough we have Hurricane Idalia forming and expected to hit Florida on Wednesday. The National Association of Realtors has its own storm: the (now ex) President, Utah’s Kenny Parcell, resigned after the New York Times reported on allegations of sexual harassment and a culture of fear at NAR.
Download our mobile app to get alerts for Rob Chrisman’s Commentary.
Share via Social Media:
All social media shares will include the image and link to this page.