evergreen

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‘Tis the season for holiday decor. Getting your home prepped and ready for the festivities is a joy and really, as will any home decor, there’s no right or wrong way to go about it. That being said, if you want your Christmas decor to look beautiful and reflect your personal style and traditions, there are loose rules to be abided. Meaning there are also mistakes to be made. 

We asked designers what common Christmas decor mistakes we should all be avoiding this year. From going OOT with new decorations to not sticking to a cohesive theme, here are the holiday decor faux pas best to avoid if you want to create a chic and timeless display.

5 Christmas decorating mistakes 

Christmas trends. Just like with interior design trends, you want to be inspired by these styles but don’t let them overcome the looks you really love and that have meaning to you no matter how kitsch they may be. Luckily nostalgia is a designer-approved trend this year anyways.

‘In any given year, my biggest piece of advice is not to feel pressured to do any decorating you don’t love!’ says designer Kathy Kuo. ‘The holiday season can be stressful and the decor aspect is supposed to be fun – if a so-called ‘Christmas decor trend’ is adding to your stress, just say no! If you love simple white twinkle lights in the windows and a few vases of greenery instead of a humongous tree, go for it!’

Kati Curtis.

‘Going over the top with colorful lights can also lead to visual clutter rather than creating a warm, inviting aesthetic that compliments your existing décor. Buying everything new and matching can look contrived or sterile and doesn’t honor the meaning and traditions of the holiday.’

‘Instead, consider taking a trip down memory lane this Christmas. Bring out your grandmother’s china and napkins that have been carefully stored away in the attic. Mix ornaments from your relatives, or things you’ve collected over time or DIY Christmas decorations. Not only does this approach help to honor the past and keep the memories alive, it is also a sustainable choice, utilizing what we already have instead of purchasing new items. This can evoke a sense of nostalgia and create a warm and homey atmosphere that truly embodies the spirit of Christmas.’

Kati Curtis

maximalist holiday decor, there should still be something that ties it all together like a color scheme or a reoccurring pattern. 

‘A significant Christmas decorating mistake is deviating from a theme or failing to follow a cohesive decorating plan. Without a guiding theme or plan, decorations might clash or lack a unified vision, resulting in a hodgepodge of styles that just looks messy.’ explains designer Jennifer Davis.

‘Sticking to a specific theme or design scheme helps tie everything together, ensuring a polished and inviting holiday setting that resonates with a consistent style and charm throughout the space.’

4. Not blending faux and real folliage

(Image credit: Jon Day)

While there are now so many incredibly realistic faux Christmas garlands, wreaths, and greenery, you can really elevate them by adding in real foliage or dried fruits. This will make and faux greenery look fuller and more convincing. You could ditch the fake evergreen all together and have a go a making your own garland.

Designer Bethany Adams believes it’s going real with your evergreen that ensures the most effective Christmas decor; ‘The wrong faux greenery can be a major faux pas. Instead, reach for dried, real evergreen boughs for your mantle or wreaths. The look is far more luxe, and just as reusable.’

Little Valley Large 4 Cup Bag of Dried Orange Slices

Faux Winter Evergreen 6′ Garland

Flock Pine Garland

5. Creating too much visual clutter

(Image credit: Future)

The whole point in Christmas decor is for it to add something beautiful and visual and creative to your home. But bringing in all this extra decor and Christmas lighting and a full-sized Christmas tree can risk looking cluttered, so to avoid this just ensure you have focal points within your rooms. Nothing should be competing. 

So for example in a room where you have the tree, keep the rest of the decor minimal – candles on the mantle, lights at the window but no large pieces of decor that will distract from the main event, and ensure to include some negative space. 

‘When diving into Christmas decorating, it’s essential to consider the aspect of proportion, especially concerning height. Neglecting to do this can lead to an unbalanced display where items of varying heights compete for attention. A smart approach involves creating visual interest by varying the heights of decorations while maintaining a sense of cohesion and harmony.’ advises Jennifer Davis.

Avoiding these holiday decor mistakes, while also still following your own traditions and style, will ensure your Christmas decor feels both chic and characterful. Just remember to go with your tried and tested formulas, have something cohesive flowing through the scheme, and don’t go over the top with bringing a load of new decor into your home and really crowding your room. And of course, have fun with it, potentially the biggest mistake you can make is getting so carried away with aesthetics that the once-a-year activity of decorating your home for the holidays becomes a stress, rather than a joy.

Source: homesandgardens.com

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TPO and Correspondent, Non-Agency Best Ex, Verification; Equity Figures for Refis; STRATMOR on Customer Experience

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By:
Rob Chrisman

Fri, Nov 17 2023, 11:13 AM

Talk can be humorous. “That lowdown scoundrel deserves to be kicked to death by a jackass, and I’m just the one to do it.” (Attributed to a congressional candidate in Texas.) Here in Dallas, mortgage talk is certainly wide-ranging and varied as there’s a lot going on out there as we head toward Thanksgiving week, including cost cutting, M&A, and Fair Lending. Today’s Rundown features Feliks Viner, VP of Capital Markets with First World Mortgage discussing rate volatility at 3PM ET. We have the Wall Street Journal story about the union between hoops and loans: “Mortgage King Wants the NBA Crown, Too.” Some housing industry observers may only think it was “only a flesh wound,” but the Realtors™ antitrust case decision in Missouri, coupled with other recent settlements and an onslaught of new cases, likely portend real changes for how homes are bought and sold in the US with the assistance of real estate brokers. Attorney Brian Levy, breaks it down and offers his view of the crumbling dam for buyer broker commissions and the Realtors’ control over local listings in his most recent Levy’s Mortgage Musings. (Today’s podcast can be found here, sponsored by LoanCare, the mortgage subservicer known for delivering superior customer experience through personalization and convenience. Its award-winning portfolio management tool, LoanCare Analytics, supports MSR investors with a focus on customer engagement, liquidity, and credit risk. Interview with Calque’s Chandra Srivastava on the inner workings of a mortgage marketing department and how companies justify ROI on marketing spend.)

Lender and Broker Software, Products, and Services

“Truv is saving Lenders 60-80 percent over competitors. That’s the savings of multiple full-time employees. For example, Compass Mortgage saved roughly 60 percent in verification costs and maintained their same conversion rate. “Truv has given us the ability to lower costs, all while speeding up the verification process and providing better employment data” said Justin Venhousen, COO, Compass Mortgage. Stop wasting money. Contact TRUV today to discuss how we can help you with your income, employment, insurance, and asset verifications.”

The Work Number® can help streamline processes and provide greater value to employment and income verification processes. Wider data coverage can help streamline lending processes. The Work Number is the largest commercial repository for consolidated income and employment data with access to 641 million instantly returned records, updated each pay cycle, provided directly by employers and payroll providers, so there’s no need to collect an applicant’s private banking or payroll credentials, potentially exposing them and yourself to risk. Lenders and brokers have a choice: access The Work Number directly from Equifax OR through our pre-built integrations with over 60 Point of Sale (POS) and Loan Origination Systems (LOS). Not all methods for verification of income and employment are created equal. Discover why The Work Number is the leading choice for seamless, swift, and automated verifications.

In this market, hustle is everything. You can’t afford to waste a single deal, or a single minute. That’s why ReadyPrice has launched Shop, Lock, Deliver, an innovative platform designed to help independent mortgage brokers and their lenders save time and money. Now you can shop competitive loan offerings from multiple lenders, get rate lock guarantees in real time, receive underwriting findings, and deliver the borrower’s complete loan file to lenders, all on a single platform, at no cost to brokers. It’s already helping brokers around the country thrive and compete in the toughest market. Multiple lenders. One platform. Zero b.s. Come check us out today.

Join MAXEX at 2 p.m. ET on Thursday, December 7, for a special webinar on how the company is expanding its role as the cash window for the non-agency market. MAXEX’s multi-buyer-to-multi-seller exchange now provides more than 300 originators with access to more than 25 leading jumbo, non-QM, DSCR, Agency-eligible (NOO and 2nd Homes), and scratch & dent investors through a single clearinghouse. Join this event to learn about how MAXEX can help your business stay nimble and prepare for profitable, efficient growth in 2024.

Homebot is making a move towards an even more connected consumer experience through its launch of the Homebot Mobile App, allowing clients to connect with their trusted home advisors in a single tap right from their mobile device. With this announcement, every Homebot customer has the opportunity to engage their clients more deeply while generating more relationships with first-time homebuyers. See full story here.

Broker and Correspondent Products

Spring EQ Wholesale is now offering investment property HELOCs for 1st and 2nd lien positions! There is high demand for this product, and now is a great time to reach out to your clients who own investment properties and offer a way to access the equity in those homes. Need help with pricing? Click here to submit a scenario to Spring EQ’s team of Account Executives. Don’t forget, with Spring EQ you can earn up to 2.5 percent in traditional broker compensation on HELOCs and HELOANs. Looking for new opportunities in the mortgage space? We’d love to speak with you! Explore our job postings and come join our growing team of fun and experienced mortgage professionals! At Spring EQ our primary focus is second mortgages. So, think of us first for all your seconds. Become a partner now or contact your Account Executive to learn more.

“Now is the perfect time to align yourself with a top-tier correspondent partner like Newrez Correspondent. How are you going to meet and exceed your 2024 goals in this challenging market? By choosing a partner with the strength, size, and quality of Newrez. We provide competitive pricing, an expansive product line and an unwavering commitment to service. Don’t take it from us. Visit our website to read what our valued clients have to say. More reasons? We offer multiple affordable lending options, a comprehensive monthly client training calendar and access to marketing materials you can customize on The Marketplace by Newrez. Non delegated/Non-QM product availability with access to LoanNEX (pricing and product eligibility platform). Contact your RSM to learn more by clicking here. At Newrez, there is much to be thankful for: our team, our clients, and our families. Wishing you and yours a safe and Happy Thanksgiving.”

What if you had a powerful tool that could help you close your purchase pipeline at four times the rate? Rocket Pro TPO’s Verified Approval (VAL) goes beyond typical pre-approvals by providing a fully underwritten solution that includes a review of your client’s credit, income, and assets. As a result, you will realize the benefit of more committed clients with a clear picture of affordability and the confidence to start shopping. And partners can rely on fast Verified Approval reviews to jump start the purchase process: VALs are available to partners from their portal in as little as 24 hours after the request. Plus, clients using a VAL have the option to lock their rate before finding their new home! Interested in learning more about a Broker or Non-Delegated Correspondent partnership? Contact Rocket Pro TPO to learn more.

STRATMOR on Customer Relationships

What if our response to the prolonged market downturn was less about waiting it out, and more about learning and improving? What if we became learners and doers, not just survivors? In his November Customer Experience Tip, STRATMOR CX Director Mike Seminari talks about the need for being active in the downtime, building relationships, gaining product knowledge, reading books and listening to podcasts, always in pursuit of self-betterment and excellence in customer care. He shares three lessons that 2023 has taught us and how we can parlay them into success in 2024. Check out, “Top Three CX Lessons That Will Drive 2024 Success.”

M&A is not Lender-Exlusive

Lenders are not the only ones in our biz with shrinking balance sheets, competitive pressures, and owners looking at strategic alternatives to battling it out every day.

Stavvy, a fintech firm specializing in digital and remote collaboration for lending and real estate companies, acquired SigniaDocuments, a technology suite from Texas-based lender Evolve Mortgage Services. “Stavvy will acquire assets, including eClosing tools, eNote and eVault services, eRegistry capabilities for agency and non-agency loans and SigniaDocuments’ SMART Doc technology – a data-driven electronic document engine.” Stavvy will offer eNote, SMART Doc disclosures and loan documents for all 50 states across all loan programs and Evolve’s Charlie Epperson and Tim Anderson will join Stavvy as chief product officer and EVP of digital mortgage strategy, respectively. Recall that in August, Stavvy acquired digital mortgage servicing tech firm Brace to provide a streamlined platform for mortgage servicers and homeowners.

Equity and the Future of Refinance

A report from ATTOM shows that in Q3 2023, fewer homes were equity-rich, meaning their loan balances were less than half of their market values. The share of equity rich mortgaged homes was 47.4 percent. This is a drop from 49.2 percent in Q2 2023, making it the largest quarterly decline since 2019. The decline in equity-rich properties happened despite recent home value rebounds. That said, the percentage of seriously underwater mortgaged homes continued to improve. Only 2.5 percent were considered seriously underwater in Q3 2023. That’s the lowest point in the past four years. It’s down from 1 in 36 homes in Q2 2023 and 1 in 35 homes in Q3 2022.

Elliot F. Eisenberg, Ph.D. writes, “As of 9/23, the percentage of home mortgage holders with negative equity is just 383,000 or 0.7 percent, less than half the percentage prior to Covid and prior to the Housing Bust. The percentage peaked in 2009 at 30 percent. Currently, the city with the highest percentage of underwater mortgage holders is Austin at 2.1 percent, because prices are 14 percent off 2022 peaks, followed by Las Vegas at 1.7% and Phoenix at 1.6 percent.”

Capital Markets

Have you stopped your spending? Inflationary price tags, high interest rates and the return of student loan payments were thought to prompt many Americans to hold back on opening their wallets, but that doesn’t appear to be the case. A strong labor market has helped keep spending afloat across the economy, with new revisions even showing that the blowout retail reports from the summer were even better than initially estimated. Those trends are expected to continue with Black Friday only a week away, followed by the traditional holiday spending spree.

But as the fabled “soft landing” for the U.S. economy comes more and more into focus, we have seen mortgage rates and other bond yields drop as of late. Yesterday morning’s batch of data showed a larger than expected increase in weekly jobless claims coupled with a two-year high in continuing claims, fitting the Fed’s preferred script of seeing some softening in the labor market. Initial claims are at their highest levels since August and continuing jobless claims are at their highest level since November 2021. Export prices were down 1.1 percent month-over-month in October and down 4.9 percent year-over-year. Import prices were down 0.8 percent month-over-month and down 2.0 percent year-over-year. And total industrial production declined 0.6 percent month-over-month in October while the capacity utilization rate fell to 78.9 percent, though all figures were adversely affected by the UAW strike. Today’s calendar kicked off with housing starts and building permits for October (+1.9 percent and +1.1 percent, respectively). As has been the case all week, there are plenty of Fed speakers, and today features Boston President Collins, Vice Chair for Supervision Barr, San Francisco President Daly, and Chicago President Goolsbee. Today is also 48-hour notification for Class D MBS. We begin the day with Agency MBS prices better by .125-.250 and the 10-year yielding 4.40 after closing yesterday at 4.45 percent.

Employment

“If you are looking for a lifeline to save your people and your business in this challenging rate environment, you have an opportunity to partner with a well-capitalized independent mortgage company with over 40 years of experience. We offer a portfolio product line that gives our origination team the opportunity to quote unique scenarios for DPA, 2nd liens, ARMs, non-owner, Jumbo, Doctor/Professional, and more. Our proprietary coaching program is free to all Loan Officers. Even in this market, we’ve doubled-down on the support we provide, from a dollar-for-dollar marketing match to in-house creative & design services, video marketing, social media, training, and credit services. With unmatched operations support at the branch and corporate levels, your clients and referral partners will be more than impressed. Our company is Fannie and Freddie seller/servicer, FHA, VA, and USDA approved. For a confidential conversation, please contact Anjelica Nixt and mention this opportunity.”

“It’s all part of the Plan! Operating as MWF Home Loans in Tennessee, Mountain West Financial is continuing our expansion plans in Tennessee. Throughout this year, we have continued our growth with recent launches in North Carolina, South Carolina, Florida, and several other states east of Texas. The expansion is part of our overall growth strategy to expand our footprint. EVP and Board member, Ben Holloway has relocated to Tennessee in an effort to help drive our expansion. For more information about our growth plans and career opportunities, contact Ed Adams or Ben Holloway. Or visit us here for more information.”

“At Evergreen Home Loans™, we’ve always believed in supporting our associates and team members in their commitment to local causes. With the establishment of the Evergreen Cares Foundation, we’ve provided a powerful tool to help them do just that. The Evergreen Cares Foundation is our way of enabling our team to make a difference in the community. Whether it’s addressing hunger, promoting education, or providing assistance during crises, this foundation reflects our dedication to community well-being. Our associates are passionate about giving back, and this foundation allows them to channel their energy and resources toward causes they care deeply about. By doing so, we strengthen our community and embody our core values of empathy and support. Learn more about the Evergreen Cares Foundation and the remarkable impact it’s making. Together, we can build a brighter future for everyone.”

“Explore Spring EQ’s job postings and come join our growing team of fun and experienced mortgage professionals! At Spring EQ our primary focus is second mortgages.”

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

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Apache is functioning normally

Tech Sales, LO Jobs; Correspondent, Verification, Pricing Products; Mitigating Credit Costs

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Tech Sales, LO Jobs; Correspondent, Verification, Pricing Products; Mitigating Credit Costs

By:
Rob Chrisman

Fri, Oct 20 2023, 11:01 AM

“Who closes the door when the bus driver gets off? The world is full of questions. “Why have all the predictions of lower rates been wrong?” Yesterday I was in the SF Bay Area giving a speech to a group of LOs and management and was asked, “Rob, are you hearing that lenders are requesting clients pay for the credit report(s) up front?” Absolutely I am. Lenders have grown weary of paying for the credit reports of loans that don’t fund and heaping those rising costs on the loans that do. “Rob, are mergers and acquisitions going to pick up?” Yes. We had one recent depository bank deal (Mississippi’s Guaranty Capital Corporation will acquire Lafayette Bancorp, Inc.), but we can expect continued deals in an 8 percent mortgage rate world as lenders and vendors, big and small, re-evaluate either their position in the market or even if they want to continue to exist. (Today’s podcast can be found here: Sponsored by nCino, maker of the nCino Mortgage Suite, built for the modern mortgage lender. The nCino Mortgage Suite unites the people, systems, and stages of the mortgage process. Hear an interview with nCino’s Ben Miller on the rapidly evolving digital mortgage suite of products.)

Lender and Broker Software, Products, and Services

Truv saves Lenders 60-80% over The Work Number. That’s the savings of multiple full-time employees. For example, Compass Mortgage saved roughly 60 percent in verification costs and maintained their same conversion rate. “Truv has given us the ability to lower costs, all while speeding up the verification process and providing better employment data” said Justin Venhousen, COO, Compass Mortgage. Stop wasting money. Contact TRUV today to discuss how we can help you with your income, employment, insurance, and asset verifications.

“In this market, hustle is everything. You can’t afford to waste a single deal, or a single minute. That’s why ReadyPrice has launched its innovative new Shop, Lock & Deliver loan exchange platform, designed to help independent mortgage brokers and their lenders save time and money. Now you can shop competitive loan offerings from multiple lenders, get rate lock guarantees in real time, receive underwriting findings, and deliver the borrower’s complete loan file to lenders—all on a single platform, at no cost to brokers. It’s already helping brokers around the country thrive and compete in the toughest market. Multiple lenders. One platform. Zero b.s. Come check us out today.”

Sierra Pacific Wholesale has completed the first phase of its pricing integration on the ARIVE platform! Sierra Pacific-approved Brokers and Non-Del Correspondent lenders can access their pricing seamlessly through ARIVE. “ARIVE truly is the best solution for third-party originators looking to save time and money in order to maximize their success,” says Rob Saunders, SVP, Western TPO Sales. This strategic partnership emerges at a pivotal time, as the Wholesale Channel continues to experience unparalleled growth. “We look forward to working with the broker community to help you scale your business and reach your peak performance,” shared Cindy Ferrentino, SVP – Eastern TPO Sales. To learn more about this exciting new partnership, read the full press release. Third-party originators interested in learning more about Sierra Pacific’s full-service experience can connect with an Account Executive here.

Get the income and employment records you need with the new Mortgage Flex™ View from The Work Number®. Inaccurate or incomplete applicant employment and pay information continues to be a challenge in the loan process. Automating the income and employment verification process with The Work Number can help reduce potential errors associated with hand-keying or relying on consumer-provided information. With 631M employment records, The Work Number can help lenders get a holistic view of an applicant, but there may be times that lenders are looking for one specific employment record. Introducing Mortgage Flex View – a new addition to The Work Number suite of solutions, which enables lenders to order just the verifications of income and employment that they need. Lenders can instantly purchase a preview of available employers prior to selecting and purchasing the full verification. Learn more about the new flexible solution from The Work Number: Mortgage Flex View.

With one of four homes being sold to real estate investors, it’s clear there’s an enormous opportunity to work with these borrowers. That’s why on the next National Mortgage Professional Webinar, Navigating Experienced Real Estate Investor Needs, they show you how to step up your game with these serial borrowers. While homeowners in normal market conditions will get a mortgage every five to seven years, many individual real estate investors are purchasing and refinancing properties several times a year. On this webinar Sam Bjelac, VP of TPO at LendingOne will discuss, types of real estate investors and their financing needs, learning how to understand property cashflow, understanding and optimizing the BRRRR strategy plus a few strategies you can easily implement to find real estate investors. Join NMP and Sam on Thursday, November 2, at 2PM ET / 11:00 am PT by registering here.

“Newrez Correspondent says, ‘THANK YOU PHILADEPHIA!’ What a great MBA Conference in the City of Brotherly Love. We want to thank the over 100 customers along with several industry partners that we were able to have serious discussions with around products, pricing, and what it will take to navigate this market over the next six months. If you aren’t a current customer, you need a Trusted Advisor during these challenging times, which is why Newrez Correspondent is the right investor for you. The time to align with us is now, so click here to join our team. We hope you enjoyed the conference, look forward to our continued partnerships heading into 2024 and to meeting you next May in NYC at the MBA Secondary.”

Capital Markets

Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.477 trillion in September, including $36.6 billion of total MBS issuance, leading to $19 billion of net growth. Issuance for this month was less than $38.1 billion in August and $38.0 billion in July. For the 2023 calendar year to date, Ginnie Mae supported the pooling and securitization of more than 466,000 first-time homebuyer loans. For full story, read October 5 Ginnie Mae press release.

As I wrote yesterday, we received a lot of housing data this week. Existing home sales during September showed that the housing market continues to cool due to the recent run-up in borrowing costs. Sales declined 2.0 percent to a 3.96-million-unit pace during the month. That marks the fourth straight monthly drop and the slowest pace of resales since 2010. Sales are down 15.4 percent from one year ago.

Fed Chairman Powell delivered remarks at a luncheon hosted by the Economic Club of New York yesterday, saying that progress toward the Fed’s dual mandate has been made but that resilient economic growth raises the prospect of renewed inflationary pressures that could warrant additional rate hikes. He repeated that the Committee will depend on data in guiding policy decisions. The fed funds futures market has seen a downward shift in rate expectations with the implied likelihood of a January hike falling to 37 percent from 48 percent on Wednesday.

There is no market-moving scheduled news today. Two Fed speakers are also scheduled, Philadelphia’s Harker and Cleveland’s Mester, who are expected to continue the narrative that we’ve been hearing from Fed Presidents for months. Around the close, markets will receive the September Treasury Budget. We begin Friday with Agency MBS prices better .125-.250 and the 10-year yielding 4.94 after closing yesterday at 4.99 percent; the 2-year is at 5.14.

Employment

DocProbe, a leading post-closing service provider for mortgage lenders, is seeking a dynamic and tech-savvy sales representative with deep expertise in the mortgage industry. The ideal candidate will have a proven track record of building and maintaining strong relationships with top mortgage lenders and a deep understanding of the mortgage process from origination to post-closing. If you have a successful track record of selling to mortgage lenders and a passion for innovative technology solutions, we encourage you to apply. Don’t miss the opportunity to join a rapidly growing and innovative company. Confidentially apply today to become a part of the DocProbe team!

“Evergreen Home Loans is set to return as the title sponsor for the 26th annual KZOK “Rock the Harvest” event, benefiting Northwest Harvest. This 12-hour radiothon and online auction aim to support those experiencing food insecurity in Washington. With over $1.4 million raised since its inception, it highlights the ongoing struggle of 1 in 10 Washingtonians and 1 in 6 children in the region. The Evergreen Cares Foundation encourages and supports our associate’s compassion for giving while improving lives through wellness and housing programs. If you are looking to partner with a company emphasizing community involvement, visit our careers page to explore the newest opportunities at Evergreen.”

AmCap Home Loans has made a significant stride in bolstering its leadership team by appointing Caleb Mittelstet as SVP of Sales. Mike Johnson, President of AmCap Home Loans, expressed enthusiasm for this pivotal addition, stating, “We’re thrilled to welcome Caleb Mittelstet as an integral member of our team. His wealth of experience along with his industry contacts will undoubtedly propel our sales team to another level. With Caleb on board, we see immense potential to expand our market share and further solidify our position as an industry leader.” Caleb cited the company’s culture and people as driving factors. He emphasized, “AmCap’s inclusive culture and the accessibility to colleagues with decades of experience are unparalleled. You can pick up the phone and call any department, and that’s a testament to the collaborative spirit here.” Mittelstet’s appointment signifies a promising chapter for AmCap Home Loans as they continue to thrive and innovate. Click here to see why Caleb Mittelstet chose Amcap and so should you!

“Independent Mortgage Banker owners: If you are uncertain how you will survive this winter if rates remain higher, please contact us directly to discuss a win-win opportunity. We are a very well-established and privately owned mortgage banking company that has been in business for 30 years, a direct seller with Fannie and Freddie, issue our own government securities, and service the majority of our closed loans. We offer a full marketing team, social media team, and a media/video production team to provide best in class support to our loan officers and referral partners. Our history and culture are exceptionally important so let’s have a conversation to see if we may be a fit. We are large enough to offer exceptionally sharp pricing, products, a dedicated marketing team, and an exceptional operational team, yet, we have a boutique feel where you may talk to the owner of the company at any time. Partner with a company where your voice and input is valued! We have a successful history of incorporating other companies into our model. For a confidential conversation please contact Anjelica Nixt and specify this opportunity.”

Attention Loan Officers: Take your career to the next level with best-in-class Operations, Underwriting, Support and more. Find out how at the next virtual Fairway Day on Wednesday, October 25 at 3pm ET. Join Steve Jacobson, Founder & CEO and David “Laz” Lazowski, President, Retail Sales East and others from the Executive Team and the Street. Here is the registration link and participation is 100% anonymous.

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

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Apache is functioning normally

TPO, Correspondent, Compliance, UW, Accounting Products; Conventional News; Employment Drives Rates Higher

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TPO, Correspondent, Compliance, UW, Accounting Products; Conventional News; Employment Drives Rates Higher

By:
Rob Chrisman

Fri, Oct 6 2023, 10:43 AM

National MI turned heads yesterday by announcing its temporary increase to AUS conforming loan amounts, despite the official FHFA word not coming until the end of November. (More below on the amounts.) Our biz is filled with “numbers people,” good or bad. According to Curinos, September 2023 funded mortgage volume decreased 30 percent YoY and 14 percent MoM. The average 30-year conforming retail funded rate in September was 7.01 percent, 18bps higher than August and 146bps higher than the same month last year. (Curinos sources a statistically significant data set directly from lenders to produce these benchmark figures.) Inventory and sales aren’t helping. Economist Dr. Elliot Eisenberg summed things up. “August data showed MoM housing starts down 11.3 percent to their lowest level since 6/20, the NAHB housing index down sharply M-o-M for the second month in a row, and new home sales weakening 8.7 percent MoM, the biggest decline since 9/22. Existing housing sales slipped to their lowest level since 1/23, and August pending home sales fell 7.1 percent.” (Today’s podcast can be found here and this week’s is sponsored by TRUE. TRUE creates accurate data that powers automation and optimizes every step of the lending lifecycle, helping lending organizations rapidly process loans, dramatically cut costs and risk, and radically improve the customer experience. Hear an interview with Ally Home’s Glenn Brunker on affordability across the nation and why potential homeowners should get off the sidelines.)

Lender and Broker Software and Services

Halcyon is the proud winner of the Innovation Challenge at Digital Mortgage 2023! Its API integration with the IRS provides tax transcripts for less than the average cost of traditional methods, with a quicker turnaround time, R&W from GSEs, and is delivered via PDF & digital format. Plus, with an option for online authorization by your borrower, ensure access to transcripts even if the government shuts down. Schedule time at MBA Annual to connect and learn more! Aren’t making it to MBA Annual this year? Contact them!

“The Loan Vision team is excited to attend the MBA Annual Convention! Stop by booth 1030 to learn how companies that run Loan Vision show a 25 percent reduction in OPEX/time to close, a 20 percent reduction in overall accounting headcount, complete LOS to G/L automation, and improved reporting and visibility that allow for better business decisions. Be sure book time with Carl Wooloff here to get an early introduction to our newest product that focuses on allowing our customers to be more profitable with less volume: LV-PAM – a modeling tool that provides actionable intelligence with consolidated loan data. Loan Vision’s innovation continues to provide you the ‘insights you need in the software you trust.’”

Ready to see what Borrower Surety in 90s looks like or full Credit Approval & Income Calculation in less than 15 minutes? Click the PreQual link to watch a video and see for yourself. Needs List, Credit Analysis & Borrower Surety… in 90 seconds! Income Calculations, Asset Verification & Credit Approval, in 15 minutes. 100 percent Loan Officer & Borrower Satisfaction!

“We know it’s tough and budgets tight, but you still have to comply. Would a free 2024 AML Module with cert tracking for your entire team help? Optimize Compliance (MtgEd) is dedicated to IMB Educational Compliance, org cost cutting, and audit preparedness. The Client Portal hosts the most robust Tracking and Audit Center, built directly from IMB Compliance team input. MLO CE is not enough to satisfy regulators: our solution solves for that. For the free AML promotion, contact Dave Olchek.”

TPO and Correspondent Loan Programs

“Are you attending the upcoming annual MBA Convention? The Citi Correspondent Lending Team will be there and we’re eager to meet with both current and prospective clients! Citi continues to focus on supporting underserved communities in diverse markets, with Correspondent Lending playing a significant role in creating opportunities for home ownership. As a reminder, earlier this year we launched our HomeRun program, a portfolio product with no MI requirement, up to 97 percent LTV and as little as 1 percent borrower down payment contribution. This was the just first in a series of planned Community lending initiatives. Schedule some time to talk with us at the MBA or complete our Prospective Correspondent Questionnaire. We’d welcome the opportunity to discuss Citi Correspondent Lending’s program offering and how we can help your business thrive.”

Profitable Mortgage Companies are focused on the long-term value of the customer relationship. Essex Mortgage’s partners enjoy greater customer retention, GNMA pass-thru pricing, no overlays, no LLPAs, NO EPOs, and NO EPDs. They also receive Tax Deferred asset growth and a long-term cash flow stream without having to be a GNMA issuer themselves. Please contact us to discuss how the Essex GNMA Excess MSR program can help retain and enhance your customer relationship, broaden guidelines, and expand into new markets. Please contact Kimberly Schenck.

“AFR Wholesale® (AFR) Strong! In recent weeks, AFR has achieved record high OTC volume, successfully launched FHA OTC for Site-Built, and been honored as the “Top Employer 2023” by MPA. Our clients have always counted on AFR for superior service, a wide range of program offerings, and a dedicated team of experts guiding them at every step. MPA has recognized us for our commitment to Diversity, Equity, and Inclusion, and highlighting our sustainable product offerings. At AFR Wholesale, we’re constantly evolving and refining our processes to provide the financing solutions our clients and borrowers truly need. Our mission? To help bring more families home. Ready to partner with a leader? Partner Today! And you can always visit us at afrwholesale.com, email us or call 1-800-375-6071.”

Despite the headwinds facing our industry, AmeriHome Correspondent continues to find ways to add value to its partners, prospects, and industry participants. Join its quarterly conversation with Freddie Mac on October 11 at 10 am PDT and hear from Freddie Mac Senior Property Valuation executives alongside AmeriHome’s Head of Credit Operations as they discuss the latest trends and challenges with appraisals, provide guidance for avoiding appraisal bias, and go over the tools you’ll need to navigate changes to the UCDP requirements. Register here and have your questions ready for the Q&A session! AmeriHome will also be releasing its ability to purchase Construction-to-Perm Conversion loans later this month. Contact your sales rep or click here for more information. Don’t miss the AmeriHome team in Philadelphia during the MBA Annual Convention Oct 15-18. Check out the Upcoming Events, find your sales rep here, or send them an email to learn more about partnering with AmeriHome!

Conventional Conforming News

The FHFA is proposing to amend its regulation that restricts its regulated entities, Fannie Mae, Freddie Mac, and the Federal Home Loan Banks from purchasing, investing in, accepting as collateral, or otherwise dealing in mortgages on properties encumbered by certain types of private transfer fee covenants (PTFCs), and in related securities, subject to certain exceptions (PTFC Regulation).

The Uniform Appraisal Dataset (UAD) and Forms Redesign team has released additional documentation to support ongoing implementation efforts. This resource supplements the initial documentation released in March 2023, which kicked off industry development and preparation for the new appraisal dataset and report. This update includes the UAD Compliance Rules for the Uniform Residential Appraisal Report (URAR) which helps lenders and vendors deliver the XML in compliance with the UAD Delivery Specification. These rules verify data completeness, validity (format and data type), and reasonableness. Details are available on Freddie Mac UAD Webpage.

Fannie Mae announced new resources and programs to provide responsible access to housing and long-term sustainable homeownership opportunities across the country for Latino communities unveiling HomeView en Español, a Spanish-language digital consumer education platform providing 24/7 end-to-end access to information about financial literacy and homeownership. To address upfront housing costs, another housing obstacle that disproportionately impacts Latino renters and first-time homebuyers, Fannie Mae this month expanded access to its Special Purpose Credit Program (SPCP) pilot, which now can provide down-payment assistance to eligible first-time homebuyers living in majority-Latino communities located in Atlanta, Baltimore, Chicago, Detroit, Memphis, and Philadelphia. Fannie Mae plans to further expand the program to additional cities, to include those with large Latino populations early next year. Additional resources are available to learn more about Fannie Mae’s approach to providing equitable and sustainable access to housing opportunities for the Latino community.

For AUS loans, National MI has temporarily increased the conforming loan amounts as follows: 1 unit: $750,000, Alaska & Hawaii $1,125,000. 2 units $960,300, AK & HI $1,440,450. “Other than the AUS being ineligible due to the increased conforming loan amount, the loan must comply with National MI’s TrueGuide® AUS Conforming Loans or AUS Affordable Lending Eligibility Matrices. At this time, there is no change to National MI’s TrueGuide® AUS Conforming High Balance Loans Eligibility Matrix requirements…” Talk to your National MI rep for full details.

Tim Lucas with ThisIsMortgage.com writes, “Fannie Mae has dropped the down payment requirement for 2-4 unit properties from 15-25 percent down to 5 percent. Huge change for homebuyers.”

PRMG TPO Resource Center Updates 23-10 includes various PRMG Policies, Procedures, and Information updates. Appraisal Fee Schedule, Credit Standards Policy, Fannie Mae Condo Project Manager (CPM) Access, PRMG Insurance Requirements and TPO Polly Product and Pricing.

PRMG Product Update 23-44: Product Profile Updates: Freddie Mac Conventional Products, Agency Freddie Mac, FHA, VA and USDA products, Onyx Jumbo, Ruby Express, Symmetry HELOCS, and Expanded Access and Investor Solution.

A new resource document is now available regarding the upcoming change to SLS for Conventional Loans, view AmeriHome Mortgage Announcement Number 20230913-CL.

AmeriHome Mortgage General Announcement 20230912-CL summarizes previously published changes made during September, additional changes made with this announcement, and recent Agency and regulatory news. See the attached announcement for details.

PHH updated its Product Descriptions and Product Codes effective 9/20 for both Delegated and Non-Delegated loans. Visit the PHH company library for details.

Pennymac will update Conventional LLPAs effective for all Best-Efforts Commitments taken on or after Monday, October 2nd. For details, view Pennymac Announcement 23-65: Updates to Conventional LLPAs.

Capital Markets

The 10-year Treasury yield continues to trend toward 5 percent, a milestone not seen since right before the 2008 financial crisis. Concerns are mounting that the high cost of borrowing will further tighten global financial conditions, even without further action from policymakers.

The big data event of this week was always going to be today’s jobs report, where analysts anticipate the U.S. economy adding 170k jobs throughout the month of September, while the unemployment number is expected to slip by a tenth of a percent to 3.7 percent, and annualized average hourly earnings are expected to remain unchanged at 4.3 percent. As a reminder, ADP reported earlier this week that the economy added 89k jobs in September following an upwardly revised 180k in August, while Challenger reported that job cuts are back up to pre-pandemic levels after historically low figures in 2021 and 2022.

Some are calling September payrolls the most important job report of the year, and with positions squared (rates normally don’t move much before big events), continued stronger numbers from a robust jobs market could push bond yields back up and stocks down. A sustained slump in equities that revives the appeal of fixed-income assets is one scenario that could cause bonds to rally materially and rates to drop.

But there isn’t a magic level of bond yields that, when reached, will entice enough buyers to spark a sustained bond rally. The Freddie Mac 30-year rate is at nearly 7.5 percent, which is a long way from the 2.65 percent record-low from January 2021 during QE4. The average percentage of conventional 30-year borrowers with incentive to refinance (at least 50 basis points) sits at 0.03 percent and has averaged just 0.3 percent for the whole of 2023. Around 75 percent of Americans are at least 300 basis points away from having any refinance incentive.

Today, like other first Fridays of the month, brought the payrolls report, this time for September. We learned that non-farm payrolls increased 336k versus 170k expectations and 179k previously. The unemployment rate was 3.8 percent when it was seen ticking down to 3.7 percent from 3.8 percent, and average hourly earnings increased (+.2 percent) versus 0.3 percent MoM expectations and 0.2 percent previously. Later today brings August consumer credit and remarks from Fed Governor Waller. In the wake of the September payrolls report, we begin the day with Agency MBS prices worse .375-.5 and the 10-year yielding 4.81 after closing yesterday at 4.71 percent.

Employment

Looking for a “solutionist?” A C-Suite Executive is seeking position as President, CEO, COO/CSO. Immensely competent with strategies, goals, sales/ops team building, P&L Management, executing a pivot; no pixie dust just fast, agile, smart work with high output. Highly connected with GSE’s, Investors, Regulators, industry vendors, PE Money, Compliance Executives. Broad industry experience in Mortgage, Building, Land Development, Insurance, Financial Services, Marketing, Software Development, Capital Markets, TPO, Private Lending, Data Analytics, Tech Stacks, M&A, turn arounds, project building/deployment, and leadership/team building. Entrepreneurial and intrapreneurial. Experienced in building tech/digital/DTC as part of strategic plan to build other channels while building traditional sales efforts. Fintech relationship a bonus. Comfortable with boards, C-Suite, and stakeholders. Ego is in check, even tempered, highly goal driven, innovative and creative problem solver, excellent communicator. Currently living on the West Coast, relocation considered; experienced with hybrid and long-distance commute. Please email Anjelica Nixt for additional information and connection.

“Evergreen Home Loans™ showcases its StepUp Program, enabling clients to buy a new property without immediately selling their existing home. The offering streamlines the buying process, allowing a smooth transition and refined mortgage options tailored to financial aspirations. Evergreen is not only a pillar of customer satisfaction but also a nurturing ground for meaningful and rewarding career paths. We create a dynamic environment where each member is a vital part of our mission to innovate and enhance the homebuying experience. If you value collaboration, innovation, and a customer-centric approach, consider joining our team. Discover the exciting opportunities waiting for you on our careers page.”

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

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Interior designer and co-founder of lifestyle brand Magnolia Joanna Gaines is inspiring us with creative fall craft ideas, more specifically flower pressing.

Taking to Instagram over the weekend, the renowned designer shared a snapshot of a stunning fall-inspired collection of flowers that were in the process of being pressed, which taps into a key floral trend for 2023. 

how to press flowers is a fairly straightforward process, but we turned to the flower experts to find out more about this fall craft. 

‘Flower pressing can make some beautiful home-crafted pieces and using fall flowers can make a colorful display,’ explains Georgina O’Grady, managing director at Evergreen. 

‘Good fall flower options include asters, violas, sunflowers, marigolds and zinnias. Once you have picked your flowers, remove any excess foliage that might cause the flowers to rot during pressing,’ she continues to explain. 

Georgina O’Grady

fall colors that reflect the warming and earthy tones associated with the autumnal months is a key step: ‘For fall, opting for warm-toned flowers such as burnt orange, mustard yellow, and muted pink will help to bring the colors you expect to see in nature at this time of year into your home.’

For best results, Blott explains that ‘flowers with fewer layers of petals work best for pressing,’ whilst you can also mix things up and ‘consider also pressing some herbs and grasses for variation in your displays.’

Kate Blott

dried flowers, to begin with rather than fresh, which Blott explains gives a unique look: ‘Already-dried flowers retain some of their contours while fresh flowers become much flatter. Fresh flowers flatten as their natural moisture is wicked away, but a dry flower has already set in its dried state, meaning a completely flattened result isn’t achievable.’

The best bit about flower pressing for fall? It’s definitely the longevity: pressed flowers look great as home decor for years to come, as Blott explains: ‘Unlike standard dried flowers that may be exposed to dirt, damp and harsh light, pressed flowers are often kept tucked away inside journals or behind glass. This will extend their lifespan.’

‘As with all dried floral products, the level of care they are given will directly affect how long they last and look their best,’ Blott concludes.

Feeling inspired to get creative this fall? We’ve rounded up 13 creative fall craft ideas to help transform your home this cozy season. 

Source: homesandgardens.com

Apache is functioning normally

Apache is functioning normally

Marketing, CRM, Fair Lending, HELOC, Non-QM Products; Webinars and Training Next Week; Why do People Move?

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Marketing, CRM, Fair Lending, HELOC, Non-QM Products; Webinars and Training Next Week; Why do People Move?

By:
Rob Chrisman

7 Hours, 28 Min ago

Sometimes I send this Commentary out from some pretty nice places, sometimes not. Today comes from the tarmac at the Newark Airport, in Row 22, sitting next to some hairy guy who’s snoring and apparently went with the “Garlic Lover’s Pizza” last night. You can decide which category today fits in. “What do you call a small pepper in the autumn? A little chili.” Tomorrow is the fall equinox. Autumn? Autumnal? Different ways of saying similar things? Do you know the difference between a loan, a mortgage, a lien, a note, and a deed of trust? There are differences, just like there are differences in the reasons why people move. Unlike the convicted felon that I spent some time with yesterday, wanting a newer, better, or larger house or apartment has been the most common specific reason cited for moves over the past two years. That’s followed by establishing one’s own household, evidenced by a change in marital status becoming a more common reason for moving in 2022 than in 2021. The percentage of movers reporting housing unit upgrades declined, suggesting a reversal of a boom in housing demand that happened in 2020, early in the COVID-19 pandemic. A quarter of movers reported family-related reasons for their move, the second most often-cited general reason for moving in 2022 and in several recent years. (Today’s podcast can be found here and this week’s is sponsored by the Trade-In Mortgage powered by Calque. Homeowners can buy before they sell, make non-contingent offers, and tap their home equity to fund the down payment on their next home. Lenders can help their clients negotiate a lower purchase price, reduce their interest payments, and eliminate PMI. Hear an interview with Mayer Brown LLP’s Lauren B. Pryor on M&A activity in the mortgage space and what makes for a successful transaction in the current environment.)

Lender and Broker Software, Programs, and Services

“Cheers to 20 Years! We are proud to announce the 20 Year Anniversary for Carrington Mortgage! It’s been an incredible two decades filled with trust, growth, and a commitment to serving our partners. As we celebrate this remarkable achievement, we want to express our heartfelt gratitude for your continued support. We look forward to many more years of serving our partners. We remain committed to being the industry’s leader in Non-QM solution lending. Our team of experts is ready to help you and your borrowers with a new home purchase or a refinance, all done in a timely and professional manner. Our program and product suite includes Non-QM, FHA, VA, USDA & GSE. Our Non-QM program offers you and your borrowers features and flexibility you may not find anywhere else. We’re here to help. Please contact us for more information about our products and services.”

In challenging down economic times, Loan Vision is your solution to maximizing profitability and reducing costs in your business. With Loan Vision, companies see improvements of 25% to 35% decrease in days to close the books, 20% reduction in accounting headcount, complete LOS to G/L automation, and improved reporting and visibility that allow for better business decisions. Don’t accept a competitive disadvantage or get caught flat footed in a recovering market. To improve your cash position, gain a competitive edge, and prepare your business for sustained growth, contact Carl Wooloff to schedule a call today.

From what people are saying, The Loan Store has consistently been among the “pricing leaders” and “process leaders” with agency loans, and they’ve also really been making a nice name for themselves with their Quick-Pay HELOCs. TLS is funding HELOCs 100% within 3-5 days (and paying 175 bps in comp), and that’s a great tool for LOs looking to expand their business. Plus, word on the street is that TLS will be expanding HELOCs to Texas soon, so that’s something else for Lone Star State LO’s to get excited about. Regardless of where you’ve set up shop, price out a HELOC in the TLS/Figure HELOC portal. Or, if you haven’t signed up with TLS yet, do that here.

Recent Trends in Fair Lending Compliance! When the DOJ announced its Combatting Redlining Initiative in October 2021, it was the department’s “most aggressive and coordinated” enforcement effort against financial institutions. The initiative has cost financial institutions $40 million in the first half of 2023 alone. The DOJ and regulators have not let up on enforcement actions against financial institutions (banks, credit unions, mortgage companies, and other lenders) violating fair lending compliance laws. In fact, regulatory agencies have expanded the scope of fair lending enforcement. A recent article from the experts at Ncontracts highlights the significance of recent fair lending enforcement trends and what it means for your fair lending program. Read the full article.

Earlier this month, Apple announced the 15th version of its amazing, do-everything iPhone. It’s hard to imagine, but what if Steve Jobs never invented the iPhone? What if we all carried one device to make calls, and a completely different device to send a text? This is exactly what many lenders do today with their CRM software. They have one CRM for their retail loan officers, a different CRM for their direct-to-consumer team, and another CRM for their wholesale account executives. Wouldn’t it be nice to manage all of your business channels in just one CRM? That’s what OptifiNow Flex is: a retail, wholesale, correspondent, reverse, home equity and private money CRM that can be personalized to fit your business needs. Reach out to us to learn more and see why OptifiNow is the iPhone of mortgage CRM!

Attention Mortgage Lenders! Discover the secrets to thriving in this competitive market with our FREE white paper, tailored specifically for you. Written by Seroka Brand Development, the mortgage industry’s leading marketing and public relations company, this exclusive guide reveals top marketing and PR strategies for 2023. As the industry faces its current set of challenges, effective yet cost-conscious marketing is more crucial than ever for companies like yours, competing for every opportunity. Learn six impactful ways to reach your target market and secure success through the rest of 2023 and beyond. Don’t miss out on this invaluable resource: download your FREE white paper now.

Training, Webinars, and Events Next Week

A good place to start is here, and click on “events” for conferences in the future. Next week is the last week of September already?! Wasn’t it just Labor Day? Let’s see what’s up.

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!

Tuesday the 26th is the next Mortgages with Millennials with Kristin Messerli and Robbie Chrisman, and sponsored by National MI. Tune in every Tuesday at 10AM PT to the weekly video show designed to empower mortgage professionals to tap into the millennial market. This show demystifies the psychology of first-time homebuyers and offers strategies to win more market share with a key segment of the market. Sign up for a weekly reminder with the link to join and a sneak peek into the next episode.

On September 26, 2-3PM ET, FHA’s free, virtual webinar will assist FHA-approved lenders (and their auditors) with their upcoming Annual Recertification and provide information on how to successfully submit an acceptable recertification package via the Lender Electronic Assessment Portal (LEAP). For detailed information, closely review the LEAP User Manual.

Free, on-site, FHA Underwriting Training in Philadelphia, PA., September 26, 9:00 AM to 11:30 AM (Eastern) will provide an overview of FHA underwriting procedures and addresses several industry-related frequently asked questions (FAQs) as outlined in FHA’s Single Family Housing Policy Handbook 4000.1. This training will also take an in-depth look at a variety of topics including credit, income, and asset (CIA) documentation; automated underwriting systems (AUS); closing; and more.

Free, on-site, FHA Appraisal Training in Philadelphia, PA., September 26, 1:00 PM – 3:30 PM (Eastern) will provide an overview of the appraisal requirements outlined in FHA’s Single Family Housing Policy Handbook 4000.1. The training topics will include property inspection requirements, appraisal validity period, manufactured homes, water and septic, attic and crawl spaces inspection, and the FHA Appraiser Roster.

If you are looking for the housing policy and fintech event of the year to watch from the comfort of your office, Housing Finance Strategies’ #HousingDC23 is it. The agenda is published, and Complimentary Registration is now available. Sign up to view the premium content offered virtually and accessible to you starting September 26th.

If your credit union’s due diligence for quality control relies only on last-minute adjustments during post-closing processes, chances are you’re spending too much time putting out fires rather than adequately serving members’ needs. Market changes demand a more comprehensive and proactive approach to due diligence, and the experts at ACES Quality Management have the wherewithal to help you make that adjustment. Tune into this Inside Track webinar on September 27th at 1 pm CST to learn the why’s and how’s of improving your QC processes.

Looking for more in-depth commentary on weekly mortgage news? Register here for “Mortgage Matters: The Weekly Roundup” presented by Lenders One. Every Wednesday at 2:00 PM EST/11:00 AM PT is a dive into a range of mortgage-related topics, including market trends, interest rate fluctuations, innovative mortgage products, and industry advancements. Listen to a unique mix of age perspective, expertise, and charisma to the screen, ensuring that the information is not only educational but also entertaining.

California MBA upcoming Mortgage Quality and Compliance Committee webinar, Navigating the Future of Work: Adapting Return to Office Policies, on Thursday September 28th at 11 A.M. PST. Expert panelists will provide valuable insight on the ever-changing work dynamics, the challenges of managing remote and in-house teams, and MLO enhanced requirements in CA (and other states).

AzAMP Annual EXPO, Luncheon, and 8-Hour NMLS CE Class, September 27–28, at the We-Ko-Pa Resort and Casino. Begin your experience on Wednesday, Sept. 27 with Part 1 of NMLS CE class. Full day of events begins on Thursday, September 28 including NMLS CE class Part 2, Luncheon with Keynote Speakers Allen Beydoun, UWM Executive Vice President and Robbie and Rob Chrisman, The Chrisman Commentary Daily Mortgage News, followed by the AzAMP Expo.

Watch on demand, at your leisure: Millennials and Gen Z’ers represent the largest group of first-time homebuyers. In less than 10 years, 3.1 million will have entered the market. Of these buyers, roughly 75 percent of them report checking social media daily. Making social media a necessary strategy for loan officers. Join Homebot’s VP of Marketing, Ashley Remstad and Mortgage Advisor Sosi Avila as they discuss key strategies and tactics for using social media to your advantage. Register for the webinar here.

The NCEO 2023 Fall Forum in Houston is September 26-28. Featuring top industry experts and thought leaders, the forum will update you on the latest trends and best practices in employee ownership. Network with other employee owners and industry professionals from across the country, sharing ideas, challenges, and successes.

Friday the 29th is The Mortgage Collaborative’s Rundown covering current events in the mortgage market for 30-45 minutes starting at noon PT in “The Rundown”.

Capital Markets

Remember when all the “smartest guys in the room” were telling us that an inverted yield curve was a nearly sure sign of a recession? I haven’t heard that one lately. Even with the Fed just signaling lower interest rate volatility going forward, in theory translating into tightening MBS spreads and lower rates, mortgage rates still jumped by over .125 percent yesterday thanks to falling bond prices and “non-trivial stack decompression.” Much of the decrease in bond prices over the past couple of days stems from the markets still trying to fight the Fed. The yield curve remains highly inverted and will only unwind once the hard landing scenario becomes less probable.

On the data front, Existing home sales decreased 0.7 percent month-over-month in August to a seasonally adjusted annual rate of 4.04 million as sales were down 15 percent from the same period a year ago due to a well-known confluence of factors: higher mortgage rates, higher prices, limited supply, a lack of mobility, and homeowners who are reluctant to give up a low-rate mortgage. Keep in mind that an economic recession could also bring about an increase in inventory, as those who lose jobs may be forced to sell their homes and those uncertain about their jobs will not have the confidence to buy a home. While the overall U.S. economy remains resilient, there are growing signs starting to show U.S. households tightening budgets or starting to reduce discretionary spending.

Today’s economic calendar includes flash PMIs for much of Europe where modest increases are expected versus the prior readings. Domestically, S&P Global PMIs will be released later this morning, though the bigger headline is the resumption of Fed speakers following Wednesday’s FOMC events. Markets will receive remarks from Governor Cook, Boston President Collins, Minneapolis President Kashkari, and San Francisco President Daly. We begin the day with Agency MBS prices unchanged, the 10-year unchanged from Thursday at 4.48 percent, and the 2-year at 5.13.

Employment

“What distinguishes a company in the mortgage lending game? For Evergreen Home LoansTM, it’s an unwavering dedication to customer experience. As Evergreen’s CMO, Haavard Sterri, puts it, “At Evergreen Home Loans, customer satisfaction isn’t just a metric; it’s our mission. We go above and beyond to ensure our clients not only receive exceptional financial solutions but also feel valued every step of the way.” Take the Security Plus program, a gem that offers clients pre-approved, underwritten loans before house hunting begins. But why should job seekers pay attention? A firm that champions customer needs typically scores high on employee satisfaction. At Evergreen, you’re not a replaceable part; you’re integral to a collective mission of transforming the homebuying process. In a crowded field, Evergreen shines by marrying excellent customer service with fulfilling career opportunities. If you’re on the job hunt and value innovation, teamwork, and a relentless focus on the customer, Evergreen beckons. To view all open Evergreen careers visit our careers page.”

In the Northwest and California, Banner Bank is searching for Mortgage Loan Officers looking to create lasting Realtor and builder relationships at a bank focused on the market today. Banner has opportunities for lenders looking for local decision making with FHA, VA, USDA, state bond and true Portfolio lending opportunities along with servicing retained Fannie and Freddie loans to assist in client retention. Additional highlighted products cover CRA lending with private label no payment down payment assistance to help assist all borrowers with the right opportunity. Banner is the right fit for an established team, or the individual looking to grow their business and take the next step in their career. Please send resumes to Aaron Miller.

As a mortgage sales professional have you ever thought, “What if I could focus on only the things that actually grow my business, flipping the hourglass and spending 80 percent of my time on what I do best: building relationships?” Or “What if I could surround myself with sales support that is truly team inspired, results driven marketing and customer obsessed headache-free process?” Welcome to radius financial group! They started radius with one main focus: to offer a better value proposition than any other bank or mortgage company in the country for you, your borrowers and your referral partners. radius can help you grow your business, have a better quality of life, and make more money. For confidential inquires please contact Carla Herrera.

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

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Apache is functioning normally

Located in “The Volunteer State,” Memphis is a city in Tennessee with approximately 633,000 residents. It’s is on the Mississippi River and is the second-largest city in the state, next to the capital city of Nashville.

Memphis is full of musical history. Influential soul, blues and rock-n-roll legends like B.B. King, Elvis Presley and Johnny Cash recorded at the famous Sun Studio, commonly called the “birthplace of rock and roll.” You can stroll Beale Street and take in the rich history of Memphis.

In addition to its musical history, Memphis has world-renowned barbecue. In fact, the annual World Championship Barbecue Cooking Contest draws 100,000 visitors alone.

If you’re considering a move to Memphis and want to know a bit more about each of its neighborhoods, we’ve got you covered! We’ve done the research and highlighted the best neighborhoods in Memphis.

15 best neighborhoods in Memphis

Named after its Egyptian sister city on the Nile, Memphis means “established and beautiful” and it’s just that. Here are 15 of the best neighborhoods in Memphis. As you consider each one, keep in mind that all are within the city limits of Memphis, so you’ll get to experience all the culture that this great city has to offer.

  • Walk Score: 41/100

Looking for a slice of Hollywood but without the traffic? Welcome to Belle Meade, home to part of the set of the Hollywood hit “The Firm.” But don’t worry, the lawyers in this town will let you move if you want to. Only Tom Cruise was unlucky on that front.

This quiet suburban area is a great place for people looking to settle down near the downtown area. With many hiking trails and delicious restaurants, anyone would be happy living in Belle Meade. The neighborhood is very walkable and has an average commute time of 30 minutes to downtown Memphis.

  • Median 1-BR rent: $795
  • Median 2-BR rent: $950
  • Walk Score: 50/100

Founded in 1893 by an Irish immigrant named W.H. Bingham, the neighborhood of Binghampton has evolved immensely through the years. The city and residents of Binghamton have made a dedicated effort to grow the city, as it once was a more isolated part of Memphis.

Nowadays, the city has tree-lined streets, flower beds and art murals on prominent buildings and streets — like Broad Avenue —throughout to make it more appealing. The neighborhood has an annual art walk where street vendors and artists converge to play music, sell artisan crafts and food and mingle with the community. If you live in Binghampton, you definitely don’t want to miss this festive gathering. And if you’re a cyclist, the new two-way bike lane is underway! The neighborhood boasts of a walking score of 50 and an even better biking score of 63.

Source: Rent./Kimbrough Towers
  • Median 1-BR rent: $930
  • Median 2-BR rent: $1,210
  • Walk Score: 69/100

Another historic neighborhood in Memphis is Central Gardens, which was once home to upper-class families who moved during the cotton boom. Due to the historic nature and relevance of the homes in Central Gardens, the area is a historic conservation zone.

While Central Gardens is densely populated, it’s a great option for singles as most of the households in the neighborhood are without children. The commute is nothing to complain about either with commute times averaging about 25 minutes. This area is home to several dining options, too. Residents of this area look forward to the Garden and Home Show every September.

  • Median 1-BR rent: $695
  • Median 2-BR rent: $725
  • Walk Score: 33/100

Nestled on the north side of Memphis, Frayser is by the Wolf River, the Mississippi River and the Lossahatchie River. In the neighborhood alone, there are 10 parks you can frequent. Try Davy Crockett Park State Park, where you can camp, explore or visit a historic museum. This is a great neighborhood for those looking to bike, hike, dog walk and generally enjoy the outdoors.

Frayser gets its name from a prominent Memphis physician named Dr. J Frayser who summered at a home near the railroad, which is to the east of the neighborhood. While Dr. Frayser could afford a summer home here, don’t let that fool you on the cost of the rent.

  • Walk Score: 41/100

Harbor Town is known to its residents as a little oasis located just outside of downtown Memphis. This premiere neighborhood and urbanist town sits atop a large 132-acre sand bar known as Mud Island.

While Harbor Town is known as a more upscale area, it’s also very affordable for young professionals looking to settle down near the city center. The town itself is very walkable and easy to navigate as it feels more like a mini-city. Take a walk down the main strip and you’ll pass by everything you need from a quaint grocery store to unique boutiques.

Harbor Town is home to the iconic Paulette’s where you can stop in for a one-of-a-kind Sunday brunch.

  • Median 1-BR rent: $1,200
  • Walk Score: 48/100

The High Point Terrace neighborhood is in the eastern part of Memphis. It’s close to Downtown so residents can enjoy the perks of Memphis but it also has a suburban feel. High Point Terrace is on the federal government’s list — the National Register of Historic Places. The architecture, buildings and overall neighborhood were deemed important to preserve due to its history in greater Memphis. One memorable claim-to-fame is the famous playwright, Tennessee Williams, who wrote his infamous play-turned-movie “Period of Adjustment” in the neighborhood of High Point Terrace itself.

This neighborhood tends to have younger residents, with 40 percent of residents under the age of 45. If you’re looking to plant roots and start a family, this is a great neighborhood to consider. Full of shops, grocery stores, coffee shops and bars, High Point Terrace is a small community where you’ll be surrounded by kind, hard-working Tennesseeans.

Source: Rent./Love Tunica
  • Walk Score: 37/100

Another great area to live in on the north side of Memphis is Hyde Park. The main focal point of this neighborhood is Hollywood and Chelsea Streets. Here, you’ll find unique shops and yummy restaurants. Some of the top-rated restaurants are The Second Line and The Hollywood Fish Market. If you live in the south, you need to try their famous catfish and you can do just that at these two high-rated restaurants.

This community is highly engaged and you’ll find your neighbors strolling the local parks or meeting at the Shasta Central community center. If you’re looking for a neighborhood near Memphis itself but with a close-knit neighborhood feel, give Hyde Park a try.

  • Median 1-BR rent: $660
  • Median 2-BR rent: $795
  • Walk Score: 58/100

Known as a college neighborhood, Normal Station is home to part of the University of Memphis. Due to its close proximity to the university, this neighborhood is mainly composed of young college students. As you would find in any college town, Normal Station has several student rental homes, fraternities and small rental homes at affordable rates for students.

The neighborhood itself isn’t very walkable, so a lot of the residents bike or drive to get around. If you’re a student looking for a great place to live out your college years check out Normal Station as your next home.

  • Walk Score: 41/100

Pinch District is a historic area of Memphis located close to the Wolf River. Originally home to Irish, Russian and Jewish immigrants, Pinch District was the first commercial city in Memphis.

During the 1990s, the famous Pyramid Arena was built in hopes of bringing new life into the neighborhood. However, things took a turn when several of its large commercial sites moved locations. Pinch District is currently undergoing a billion-dollar expansion that will surely bring new, exciting business to the neighborhood.

While Pinch District is a quieter neighborhood in Memphis, it still has a lot of charm. There are some great coffee shops that recently opened such as Comeback Coffee or Alcenia’s. The commute from Pinch District to downtown Memphis is on average 15-30 minutes, so residents will likely need a car as the walk score is only 41.

Source: Rent./The Meadows
  • Median 1-BR rent: $731
  • Median 2-BR rent: $803
  • Walk Score: 26/100

Raleigh is a neighborhood in Memphis located on the northeast side of the city. It’s near the Wolf River and Frayser, another one of the best neighborhoods in Memphis.

Raleigh is a neighborhood full of hard-working, kind people. The main economy is retail, however, Nike has a distribution center in this area, too. Stage Road is a popular area in the neighborhood where you can go for a walk, window shop and grab a bite to eat. Locals enjoy good food and shops in this town and a crowd favorite is Moma’s Bar-B-Q or Dindie’s Soul Food.

  • Walk Score: 58/100

Steeped in folklore, Sherwood Forest is a neighborhood in east Memphis that has roots in the story of Robin Hood. While you probably won’t see Robin Hood’s merry men roaming around, you will see several streets named after the story like Robin Hood Lane, Maid Marion Lane and Little John Road.

Sherwood Forest neighborhood is known as a family-friendly suburb with good schools for children to attend. The neighborhood is about a mile away from the University of Memphis, so you’ll have a good blend of college-aged students and recent grads living here. The area has a nice blend of shops and bars plus a wonderful park to get in touch with nature. Sherwood Forest Park has trails, tennis courts, a golf course and even a botanical garden.

  • Median 1-BR rent: $1,579
  • Median 2-BR rent: $1,679
  • Walk Score: 19/100

Southwind is a neighborhood in Memphis on the southeast side of the city. This is an affluent neighborhood with several residents having bachelor’s degrees. The schools are highly recommended and it’s a good place for families.

If you like golf, this is a great neighborhood because the Southwind Golf Course is on the PGA tour and is a World Championship Golf Course. Other outdoor activities include walks, hikes and strolling around local parks.

Source: Rent./The Helix at the District
  • Median 1-BR rent: $880
  • Median 2-BR rent: $1,021
  • Walk Score: 72/100

Feel like stepping back in time? The Victorian Village neighborhood is the place for you. Once known as Millionaires Row, Victorian Village is a town rich with history due to its many homes built in the late 1800s. While the neighborhood is still home to these impressive homes, the suburban area is a great place for all types of people.

Victorian Village is home to many must-see museums such as the Woodruff-Fountaine House Museum. If you’re looking for a historic and walkable neighborhood in Memphis, then renting an apartment in Victorian Village is a great choice.

  • Median 1-BR rent: $904
  • Median 2-BR rent: $1,012
  • Walk Score: 41

Voillintine-Evergreen is close to downtown Memphis. One of the prominent features of this neighborhood is the layout of ranch-style 78 buildings surrounding the old synagogue. It’s part of the National Register of Historic Places, in fact.

People living in Voillintine-Evergreen like their history and fight to preserve it and its aesthetic. The residents are usually retired or empty-nesters, so it’s a great place for people looking for a more quiet lifestyle. That being said, you’ll still find plenty to do whether that’s eating at local eateries, sipping freshly brewed coffee or walking throughout one of the neighborhood parks.

  • Median 1-BR rent: $599
  • Median 2-BR rent: $835
  • Walk Score: 30/100

You can’t help falling in love with this neighborhood. Whitehaven is most famous for “Graceland.” More than a half-million people come to visit Elvis Presley’s home-turned-museum each year and pay their respects to the rock-n-roll legend.

While this landmark is cool for music lovers, residents of Whitehaven enjoy the suburban feel and parks like T.O. Suburban State Park. This neighborhood tends to attract empty-nesters, so it’s quieter compared to neighborhoods full of families.

Find the best Memphis neighborhood for you

Whether you choose a neighborhood in the heart of Memphis or elsewhere you can rest assured that you’ll find great people and apartments in any of the best neighborhoods in Memphis. Memphis is a city full of apartments for pet lovers, park lovers, nightlife lovers or even coffee lovers.

The rent information included in this article is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent. as of November 2021 and is for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com