COVID-19
What is Inflation and How Can It Hurt You?
Concerns over inflation continue to be a hot issue in the economic recovery from the COVID-19 pandemic. But what is inflation? And should you be worried about it?
4 Places Where Home Prices Could Plummet 25%
The correction in these markets could rival the crash that occurred in the wake of the housing bubble more than a decade ago.
Mortgage Forbearance: Understanding the Basics
When your budget is tight due to a financial setback, figuring out how to handle expenses is overwhelming. Thankfully, there are options like mortgage forbearance to ease the financial burden resulting from crises like the COVID-19 pandemic. Mortgage forbearance is when your mortgage servicer or lender allows you to pause or reduce your payments for
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Builders pull back on single-family construction in most counties
Single-family building in large metro outlying counties and exurban areas has waned in the last 12 months, according to the NAHB HBGI for the third quarter of 2022.
Point of Sale, Appraisal, Outsourcing, Appraisal Products; Mergers and Lender Closures Continue
Every lender or investor with an âaâ in their name seems to be subject to rumors and news in recent months. (More on Flagstar and American Pacific below.) Know anyone named âBernadetteâ? The name is actually Latin for, âThe act of torching a mortgage.â (Yes, it is cutting edge humor like that which brings you back.) Burning liens isnât a topic, but paying them off early is, and with mortgage rates off of their highs, early pay offs, or EPOs, were a conversation topic at the conference this week. And with it, loan officer compensation follows. Can a lender pay an originator based on pull through? Yes. Can lenders pay different originators under different payment plans, as long as the originator sticks with one plan? Yes. Can a lender, if they comply with state labor law, ask for compensation back after an EPO or EPD? Yes, and it may depend on the contract signed by both parties at the beginning of employment. As always, consult your in-house counsel or a lawyer well-versed in mortgage banking. While weâre on originators, occasionally I am asked about training for brand-spanking-new loan officers. No, this is not a paid ad, but veteran LO Tanya Blanchard has created Madison Chase Academy, â6 Months to 6 Figures: A Loan Officerâs Guide to a Profitable Businessâ with a sneak peak on the website. (This weekâs podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking.)
Navigating the She-Cession: The Intersectionality of Economic Uncertainty
Global economic downturns are sure to affect everyone to some extent. This year has seen record unemployment numbers and job losses, which have disproportionately affected women and especially women of color. This is a unique situation to the 2020 economic recession, which is why many are calling it the âshe-cession.â We took a closer look
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Mortgage rates top 7% for the first time since 2002, chilling L.A. housing market
The average rate on a 30-year fixed-rate mortgage rose above 7% for the first time since 2002, according to a widely watched survey from Freddie Mac.
6 Medications That Are Disappearing Fast
Everything from supply chain issues to soaring demand has made these drugs scarce.
Top 10 WORST Stock Market Crashes in History
I was a college intern at a local investment firm when I first learned what a âstock market crashâ was. It was 2001 and the market was already on the decline. After the tragic events of 9/11, the stock market continued to lose value. Hereâs how the S&P 500 looked in 2001 (chart courtesy of […]
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