Money Balloons

Super cute way to give money for any occasion.

It’s fun to watch the recipient get spooked by a popping balloon, covered in confetti, and of course, count the money inside! 

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Sneak Peek Birthday Card

Such a cute and sneaky way to roll cash into a card.

Make candles using a dollar bill or go big and use a $20 bill.

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Money Lei for Graduation Gift Idea

Everyone needs some cash and this money lei is a fun and creative way to give the gift of cash!

Learn how to make your own money lei today!

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Funny and Fun Ways to Give Cash

This list is about the funny and fun ways to give cash.

This type of money gift idea works best for a white elephant exchange, a coworkers exchange, a friend exchange, or someone who loves a good joke.

Let’s be honest… sometimes you just to be really funny with how you give the gift.

Honestly, I’m not sure if there are any annoying ways that you could give money. (Cash is still cash, right?) For those who enjoy crisp dollar bills beware!

Easy Peasy Money Tree Topiary

It is proven that money does grow on trees. This DIY tutorial will teach you exactly how to make your own money tree.

This beautiful money tree topiary is ready for one very lucky gift recipient!

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Money Tree on Etsy

Perfect gift for the Dad who always says money doesn’t grow on trees! This is a funny gift idea for the father who has everything and has a great sense of humor. Because now…

Money DOES grow on trees!

See Now on Etsy

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“In An Emergency” Graduation Gift

Super fun way to give money and withhold the desire to spend the cash right away. You can place any amount of cash in these, so they fit virtually any budget.

Simple DIY tutorial!

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Money Chain Gift for the Graduate

Paper chain gifts are a great way to decorate for the holidays. But, it is also a fun way to give money! Very simple DIY project to complete.

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Christmas Money Printable

Running low on time?

This Christmas money printable is a fun and easy way to give some dough this season. So adorable!

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Easy Ways to Hide Money in a Gift

Okay, let’s be honest, we don’t want everybody to know right away that they’re going to get money inside their gift.

How do you hide money as a gift? This gift list is filled with perfect ways to hide money inside a gift.

When they open it, they are excited about just the outside part of the gift and they don’t even know the monetary gift that you have waiting for them inside!!

August 28, 2023
Inside: Looking for a creative and easy way to give money as a gift? Look no further than these Money Gift Boxes!…

Handmade Money Surprise Bath Bomb

Time for a lovely bath with a hidden surprise! A fantastic way to hide money especially for teen girls!

This unique gift idea also is made with all natural and vegan skin care products. Perfect for small budgets!

Buy Now on Etsy

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Funny Christmas Money Gift: Cash in a Can

This is such a clever idea! Giving money was so much fun this year.  

You can hide a roll of cash inside any canned goods – preferably what the recipient hates the most.

Since it is wrapped like a normal household item, no one will expect it to have anything inside but what is on the label!

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Birthday Money Box Gift Idea

Money is something every teenager wants! This money box can easily be created with items you already have at home.

Unique and sneaky way to give money!

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Book of Money

Such an easy DIY project to give money!

You probably have all of the supplies in your house.

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Money Cake Pull Out Kit


Perfect surprise for your kids, grandkids, spouse, or best friend with the most versatile and widely-appreciated gift of them all: cash?

We know how you can do it in style: the amazing money cake dispenser, an incredible accessory that you will use on endless occasions.

This complete cash dispenser set includes the special box, cake topper, 1 plastic roll with 50 connected pockets, and printed instructions.

Buy Now on Amazon

02/19/2024 05:27 pm GMT

Hidden Gift Jars

Want to make your money gift a little more special this year? Make these Hidden Gift Jars!

Stash your gift inside a secret hiding spot in the jars, covered by a favorite candy or treat (we used M&Ms), and watch the recipient’s eyes light up when they realize there’s more to their gift besides just candy!

This also makes a great gag gift! 

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Creative Ways to Give Money – Which is Your Favorite?

What is the best way to gift money?

Honestly, is there any bad ways to get money? Maybe if the gift giver never opens where the cash is heading, but let’s hope that doesn’t happen.

In this post, we have covered all of the best ways to gift money.

A simple way to say I appreciate you! You have so many ideas to choose from!

Which creative ways to give money did you like the best? There are DIY methods to giving cash and some that you can quickly pick up.

Follow for more inspiration on our Gift Ideas on a Budget Pinterest boards.

I can’t wait to see your pictures with what you’ve come up with, and how you plan to do this.

More Gift Ideas:

Did the post resonate with you?

More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!

Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.


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The mortgage origination industry has long made use of an operational strategy that relies on “staffing up” during cycles of high volume and then making staff reductions, sometimes en masse, when origination volume declines. While this was once a necessary business strategy, the technology now exists to implement a much more efficient approach. In order to achieve this, lenders need to take a thoughtful approach to the implementation of technology, and the very highest decision makers need to push their orgs to adapt processes to fully realize technology’s benefits.

Some credit is due to the mortgage industry for having made real progress in a few short years with regard to making automation a priority. Structured data sources, automated underwriting tools, and task and workflow-based systems can automate and accelerate many of the functions traditionally performed by human employees. The technology to do this is possible and in many cases, has even been built – it just hasn’t been properly implemented. We have the means today to shift lenders to far more efficient staffing and personnel models. 

The problem lies in a simple insight: cost and labor doesn’t come out of the process when you automate a step, but rather when the person stops doing that step.

While we have adopted technologies and “turned them on” across the industry, so to speak, we have not re-architected our processes around them. In order to do that, I suggest 3 truths that lenders should keep in mind:

  1. There are some things that technology can simply do better than humans – that work needs to be moved to technology.
  2. There are other things that humans still need to do, but the more that companies can make those tasks “lower skill” and easier to train around, the more scalable and nimble the organization can be as the market changes.
  3. It is very easy to add steps to a process, and overwhelmingly difficult to subtract them.

Moving workloads from people to technology

As an industry, we need to start by establishing a basic acceptance that technology simply does many things better than humans can. For example, technology is more reliable at making sure a flood report is ordered as soon as a loan is moved to processing than a human with a checklist is – it’s a simple rule that fires every time. This is an easy thing to agree on when technology does things “perfectly”, but what about when the technology has an error rate? For example, does OCR have to be 99%, 99.9%, or 100% right in extracting the first name off a driver’s license before we decide we can have people stop doing it? While a simple solution might be to compare the computer’s error rate to the human’s, and switch when computers make fewer mistakes, we all know this is difficult in practice – one only needs to look at the regulatory backdrop around self-driving cars as a prime example in another industry. Regardless of whether a company is willing to take a more cutting edge approach (switching as soon as the technology is “good enough”) or would rather be a later adopter, it is critical that lenders have a strong framework and strategy around when they shift work from humans to technology.

If we assume for a moment that we are willing to move work to technology once it can do it better than humans, the next step is to survey the market and understand what “automation” capabilities exist, and to what extent they can replace the entire task a human is doing, not just a pretty demo. This requires not just a deep understanding of the technology, but also an understanding of the current human process – is the same person ordering flood reports and reviewing the results? Is that person also troubleshooting when the flood vendor is unable to return a successful result because the property address hasn’t been verified yet? For many mortgage lenders, either very robust automation capabilities are necessary to replace these large, complex tasks their operations people are really doing, or their process needs to be simplified and broken down significantly into smaller “jobs to be done” so that simpler automation solutions can take those jobs on.

Making the work people still have to do more efficient

Once we’ve looked at work that can be moved to technology, the state of the industry today suggests that there surely will still be work for people as well; how can we make that as efficient as possible? There are two vectors lenders should think about when they think about the efficiency of their people: how much “work” (measured in loans, or ideally in tasks) one person can get done in a unit of time when fully ramped, and how long it takes to ramp them.

Work per user per unit of time is measured all over our industry: how many files can an underwriter review a day? How many loans can a processor manage in their pipeline at once? When thinking about improving the efficiency of work that people are doing and that can’t be moved to technology, lenders often focus on allowing those people to focus (there are elaborate solutions, like workflow systems, and simple solutions, like not letting your loan officers instant message your underwriters). Continuously re-evaluating how your technology is serving or hindering your team’s ability to work efficiently (system latency, easy navigation) is critical.

Less obvious, though – for work that still needs to be done by people, it’s also worth asking how we can make that work more intuitive, easier to train on, and split in a way that the bulk of it can be done by lower skilled workers. Making the work “simpler” or “easier” allows for improved elasticity in the business; rather than hiring specialists, lenders can move more general workers around to cover bottlenecks in their manufacturing process, or even slide employees between origination and servicing if the jobs and systems are really made simple enough. When a mortgage business employs a strategy that decreases the need for skill, the next market boom will require that business to simply flex 10 or maybe 20 people from other areas of the business into production to assist with the sustained volume. Instead of having to hire (and later, lay off) 100 new people and train them, the business can accommodate demand without artificially bloating its workforce.

Actually changing the process with subtraction, not just addition

One of the hardest things to do in any organization is to subtract things – adding a weekly meeting is almost frictionless in most companies, but removing it requires a brave individual to speak up, and then near-total consensus from the attendees. Similarly, in loan manufacturing, lenders add steps (things to check, documents to collect or send out) often, but almost never inventory all of the work their teams are doing and figure out what doesn’t need to be done anymore.

Compounding this, “redundant work” is actually commonly employed as a strategy in mortgage origination to ensure that files are high quality – if 2 people each have 10% error rates on missing a document in the file, for example, making sure that one checks it, and then the other checks the first person’s work, will allow for a 1% error rate. This simple fact often leads to checkers checking checkers.

This means that people in the mortgage origination process often do work on a file, expecting that work to have been done already anyways, and therefore that automating that work upfront doesn’t fundamentally change their behavior. In order to see the full benefits of any kind of work shift to automation and technology, the entire team downstream of that work needs to be retrained no longer to check that step. So how can this be done?

First and foremost, executive buy-in is critical to see any reduction of steps; very rarely do individual contributors feel empowered to remove steps from the process. Tobi Lutke, CEO at Shopify, has a famous quote that “The best thing founders can do is subtraction. It’s much much easier to add things than it is to remove.” Only executives and leaders have the social capital necessary to actually get people to stop doing stuff.

Once an executive has decided to cut a bunch of steps from the process, and ideally continue to revisit and cut steps as a continuous, living process, there are two ways to actually implement this. One is to have an extremely strong operations group that continuously trains and retrains; measuring the effectiveness of the team and ensuring an extremely high degree of compliance with written and documented standard operating procedures. 

The second option to implement effective change-management on your automation journey is to encode the standard operating procedure inside of the system being used to originate the loans so that the software manages the process. When that happens, change management becomes something akin to a software update (with which people will comply because they are only doing the work the software directs them to do) instead of a complex and cumbersome re-training. The change management is, essentially, “baked into” the infrastructure itself.

Regardless of whether an operational or technical solution to this problem is employed, all of the automation in the industry won’t save money if each lender doesn’t individually develop a strategy to achieve the all-important goal of subtraction.

Tying these things together

We’ve long known that the mortgage industry struggles with a lack of elasticity and scalability. The market conditions and unique events of the past four or five years have starkly highlighted that problem. As our market has lurched from boom to bust in response to pandemic and high interest rates, we’ve seen an almost continuous parade of hiring and reductions-in-force. That, in turn, has had a broad impact on work culture across the industry, including a reduced level of loyalty industry-wide and a volatility that makes it nearly impossible to plan much further than the next peak or trough in the market cycle. 

To actually get to a world where scaling production up and down doesn’t require swings in headcount, the marginal cost of labor inside each loan needs to be as low as possible, and then any need to “staff up” or “staff down” needs to be low training enough to allow the repurposing of existing staff instead of hiring and firing of staff outside the company. Getting to this world requires a careful re-litigation of existing processes, with executive buy-in, to subtract unnecessary steps and simplify the process, and this is an exercise that must be done continuously by lenders. This is not simple – there is no silver bullet solution – and it is hard work, but it is one of the greatest problems mortgage originators face today, and well worth the work.

As CEO at Vesta, Mike leads sales, product development, and implementations as the team redefines origination platforms for modern lenders. Previously, Mike spent 4 years on the early product team at Blend, where he launched key components of the flagship mortgage platform, and later started and ran new business lines such as Blend Insurance. Mike graduated from Stanford University with an MS in Computer Science/AI and a BA in Economics.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: [email protected]


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The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.

If you need to improve your credit health, you’re not alone. Millions of people have a bad credit score, often due to delinquencies, or late payments. According to a recent report from the New York Federal Reserve, credit card, and auto loan delinquencies are on the rise. Having poor credit can limit your financial options, but credit repair companies may be able to help.

Credit repair companies specialize in helping people fix their credit, but unfortunately, there are some companies that take advantage of people. It’s important to understand the laws of each state so you can protect yourself and choose the right credit repair company.

In this post, we teach you about credit repair laws for each state as well as the federal credit repair laws. Knowing your rights and the credit repair laws is the first step on your credit repair journey.

Credit repair laws for each state

In addition to federal laws, many states have laws that regulate the credit repair industry. The state consumer credit repair laws provide protection from companies that take advantage of people who are experiencing financial hardship. While many states have laws, there are some that don’t. Check the graphic below to see if your state is one of the few that doesn’t have specific laws for credit repair. 

It’s helpful to know that the state credit repair laws are based on the state in which the credit repair organization is operating from. Not only must they comply with their state credit repair laws, but they must abide by federal laws as well.

Depending on the state, they may require that the credit repair company has: 

  • A state registration requirement
  • A surety bond to cover potential damages to consumers
  • A required cancelation period after the consumer signs the contract
  • A refund period after the consumer signs the contract

Here is a list of each state and some specifics about their laws.

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State State credit repair laws Registration requirement? Surety bond amount Cancellation period (in days) Refund period (in days)
Alabama No state laws N/A N/A N/A N/A
Alaska No state laws N/A N/A N/A N/A
Arizona Credit Repair Organizations Act (A.R.S. 44-1701 et seq.) No $25,000 3 15
Arkansas Credit Services Organization Act (AR ST § 4-91-201 et seq.) No $10,000 5 10
California Credit Services Act (Civ. Code §§ 1789.10 et seq.) Yes $100,000 5 15
Colorado Credit Services Organization Act (CO Rev. Stat. 5-19-101 et seq.) No N/A 5 10
Connecticut CT. Gen. Stat. § 36a-700 et seq. No N/A N/A N/A
Delaware Del. Code. §2401 et seq. Yes $15,000 3 10
Florida Fla. Stat. §817.7001 et seq. No $10,000 5 10
Georgia Credit repair companies are illegal N/A N/A N/A N/A
Hawaii HI. Rev. Stat. § 481B-12 et seq. No N/A N/A N/A
Idaho Idaho Collection Agency Act (ID. Code. §26-2223 et seq.) Yes $15,000 N/A N/A
Illinois Credit Services Organizations Act (815 ILCS 605/1 et seq.) Yes $100,000 3 10
Indiana Credit Services Organizations (I.C. 24-5-15 et seq.) No $25,000 3 10
Iowa Credit Services Organizations (IA. Code. §538A et seq.) Yes $10,000 3 10
Kansas Credit Services Organization Act (K.S.A. 50-1116 et seq.) Yes $25,000 N/A 10
Kentucky No state laws N/A N/A N/A N/A
Louisiana Credit Repair Services Organizations Act (LA Rev Stat § 9:3573.1 et seq.) Yes $100,000 5 10
Maine Consumer Credit Code – Loan Brokers (ME Rev. Stat. 9-A § 10-101 et seq.) No $25,000 N/A N/A
Maryland Credit Services Businesses Act (MD. Code. § 19 et seq.) No $50,000 3 10
Massachusetts MA. Gen. Laws. 15-93 § 68 et seq. No $10,000 3 10
Michigan Credit Services Protection Act
(MI. Comp. L. § 445.1821 et seq.)
No N/A N/A N/A
Minnesota MN. Stat. § 332.52 et seq. Yes $10,000 5 10
Mississippi Debt Management Services Act (MS ST § 81-22-1 (Reenacted) et seq.) Yes $50,000 N/A N/A
Missouri MO. Stat. 407.635 et seq. Yes $10,000 3 10
Montana No state laws N/A N/A N/A N/A
Nebraska Credit Services Organization Act (Neb. Rev. Stat. §45-801 et seq.) Yes $100,000 3 10
Nevada NRS 598.741 et seq. Yes $100,000 5 10
New Hampshire Credit Services Regulation Act (N.H. Rev. Stat. § 359 D:1 et seq.) No $25,000 5 5
New Jersey No state laws N/A N/A N/A N/A
New Mexico No state laws N/A N/A N/A N/A
New York Credit Services Business (N.Y. Gen. Bus. 28-BB § 458-a et seq.) No N/A 3 N/A
North Carolina Credit Repair Services Act (N.C. Gen. Stat. § 66-220 et seq.) No $10,000 3 10
North Dakota No state laws N/A N/A N/A N/A
Ohio Credit Services Organization Act (OH. Rev. Code. § 4712.01 et seq.) Yes $50,000 N/A
Oklahoma Credit Services Organization Act (§ 36 et seq.) Yes $10,000 5 10
Oregon Debt Management (OR. Rev. Stat. 697.602 et seq.) Yes $10,000 3 N/A
Pennsylvania Credit Services Act (73 P.S. § 2181 et seq.) No $5,000 – $25,000 5 15
Puerto Rico P.R. Laws tit. 7, § 630a et seq. Yes $10,000 7 15
Rhode Island No state laws N/A N/A N/A N/A
South Carolina Consumer Credit Counseling (S.C. Stat. § 37-7-101 et seq.) Yes $25,000 10 10
South Dakota No state laws N/A N/A N/A N/A
Tennessee Credit Services Businesses Act (TN ST § 47-18-1001 et seq.) No $100,000 5 10
Texas TX. Fin. Code. § 393.001 et seq. Yes $10,000 3 10
US Virgin Islands Virgin Islands Uniform Debt Services Management (12 V.I.C. § 401 et seq.) Yes $50,000 3 N/A
Utah Credit Services Organization Act (UT. Code. §13-21-1 et seq.) Yes $100,000 5 10
Vermont No state laws N/A N/A N/A N/A
Virginia Credit Services Businesses Act (VA. Code. § 59.1-335.1 et seq.) Yes $50,000 3 10
Washington Credit Services Organization Act (R.C.W. § 19.134 et seq.) No $10,000 5 10
West Virginia Consumer Credit and Protection Act (W.V. Code Ch. 46A et seq) Yes $15,000 3 10
Wisconsin Credit Services Organization (WI. Leg. § 422.501 et seq.) Yes $25,000 5 15
Wyoming No state laws N/A N/A N/A N/A

Federal credit repair laws

There are many consumer protections for people in the United States, and some involve your credit. The primary credit repair law to familiarize yourself with is the Credit Repair Organizations Act (CROA). In addition to the CROA, you should also know about the Fair Credit Reporting Act (FCRA), which is what many credit repair companies use when helping their customers.

Credit Repair Organizations Act (CROA)

CROA dates back to 1996. The Federal Trade Commission (FTC) states that this act “prohibits untrue or misleading representations and requires certain affirmative disclosures in the offering or sale of ‘credit repair’ services.” The specifics of CROA state that the following are illegal: 

  • Exaggerating or misrepresenting the service
  • Submitting false information to credit bureaus and data furnishers
  • Providing a new identity to clear your credit history
  • Charging customers up front
  • Requiring customers to waive their rights

Fair Credit Reporting Act (FCRA)

The Fair Credit Reporting Act (FCRA) is another federal law that helps ensure fair credit reporting practices for consumers. Credit repair companies work by utilizing the FCRA, so it’s helpful to understand what it says and how it works. 

Some of your rights and protections according to the FCRA include: 

  • You have the right to be told what’s in your file.
  • You must be told if any information in your file is being used against you.
  • You have the right to ask for your credit score.
  • Consumer reporting agencies must fix or remove inaccurate information.
  • Reporting agencies can’t report outdated negative information.

Is credit repair legal?

Credit repair services are completely legal, but you’ll need to find credit repair companies that are operating under state and federal laws. The best credit repair companies follow these laws and can assist you with challenging errors on your credit report. 

The following are some signs of a good credit repair company: 

  • They don’t charge you up front
  • They don’t guarantee results
  • They don’t ask you to lie about your information to reporting agencies

Credit repair companies charge for their services, so it may be helpful to shop around and look at online reviews. When doing this, keep in mind that although a company may be the least expensive option, it may not provide the best services.

Work with a credit repair company who knows credit law

If you’re looking for a credit repair company that understands state and federal laws when it comes to your credit, work with Lexington Law Firm. We have a team of legal professionals who follow credit repair laws, and we also challenge credit reporting errors on your behalf. 

In addition to providing you with regular updates about the credit repair process, we also provide various tools to help you better understand your credit health. To get started, sign up today.


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Dark and Stormy Is How They Take Their Décor

Some decorators swear by the calming effects of deep and moody hues.

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Jean Stoffer, an interior designer and TV personality, painted the walls and ceilings of her butler pantry in Grand Rapids, Mich., a gray-blue hue. “When we have parties, people are in there talking all the time,” she said.Credit…John Stoffer

Published May 26, 2024Updated May 28, 2024

When Emily Peterson purchased her seaside cottage in Cape Neddick, Maine, she knew its coastal hues had to go. “The second we walked through this house, I had this vision that I wanted it to be dark,” said Ms. Peterson, who bought the 1770s home nearly two years ago. “It’s been here for so many years and I just wanted to bring life back into it.”

And in this case, that meant going back to its historical roots with moodier colors.

So Ms. Peterson, who shares the cottage with her husband and two young children, painted over the butter yellow and powder-blue walls with dark greens and deep blues.

Bright, vibrant spaces have enjoyed their time in the sun — after all, last summer’s Barbiecore moment even extended to homes — but there’s growing interest in a dark interior aesthetic. On TikTok, videos highlighting this style often rack up thousands of likes. And on the home-decorating website Houzz, there’s been surge in searches related to dark and moody décor — for example, “moody bedroom” searches are up 142 percent.

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Victor Ciardelli beamed as his mortgage company, Chicago-based Guaranteed Rate, launched a “financial wellness” and “personal well-being” app last fall before a live audience in Times Square with wellness celebrity Deepak Chopra.

“Something we are passionate about at Guaranteed Rate is caring about people and their overall well-being,” Ciardelli said in a video of the event posted online. “We wanted to make sure that we did something to help people in their general stress and alleviate pain.”

But in the days following the launch of the app, which offers home loan applications and other financial services alongside yoga classes and nutrition advice, Ciardelli wasn’t happy. Yelling at executive leadership on company calls, he referred to his employees as “failures,” complained that the team did not show him from a particular camera angle and said “Marketing is a f−−−ing disaster,” according to two executives who were on the calls.

Despite Ciardelli’s public remarks on the importance of personal well-being, many former employees told the Tribune they experienced or witnessed persistent verbal abuse and a misogynistic environment while working at Guaranteed Rate. As part of a Tribune investigation, reporters interviewed nearly 80 former employees and reviewed court records, internal company emails, written exit interviews and text messages.

Many of the former staff members who spoke with the Tribune described Ciardelli, the company’s president, CEO and founder, as a boss who was quick to berate, swear at and demean employees.

“Every person that works directly under Mr. Ciardelli is terrified of his potential anger outbursts,” one former assistant wrote to human resources after she was let go from the company a couple of years ago, according to an email reviewed by the Tribune.

Some former employees who spoke with the Tribune said they were driven to seek mental health care because of the work environment at the company; one former worker said she contacted a suicide hotline last year.

Multiple women who used to work at Guaranteed Rate, meanwhile, described working in a sexualized atmosphere where some male loan officers and managers made sexually explicit remarks to female employees, hit on them in the office or at work events, and commented inappropriately on their appearance — even, in one case, encouraging a woman to use her looks to help close a loan.

In February, a woman who used to work as a loan officer at Guaranteed Rate filed a lawsuit against two high-producing loan officers at the company, alleging sexual harassment and gender discrimination. Her complaint alleges one of the male loan officers sexually harassed her at a corporate event, that the other loan officer pressured her not to report the incident to human resources, and that for the remainder of her employment the man who made the remark used “gender-based and demeaning slurs to refer to” her and other women at the company.

Other former employees said they did not bring their complaints to human resources because they thought Ciardelli or other executives and managers meddled in the department’s business and might retaliate, with at least two former employees saying they’d observed how company leaders protected certain staff members. Others said they did complain but felt the department didn’t take the information seriously.

In response to a detailed list of questions from the Tribune, Ciardelli and Guaranteed Rate vehemently denied all of these allegations, describing the company as a positive workplace environment where women in particular are supported. The firm went to remarkable lengths to dispute the allegations, including sending the results of a worker satisfaction survey it conducted and forwarding more than 80 testimonials from current and former employees. Among them were five of Ciardelli’s current or former assistants, as well as numerous male and female executives praising his leadership and support.

The company also retained an outside law firm that, even before receiving the reporters’ list of questions, threatened to sue the newspaper for defamation.

Guaranteed Rate, whose corporate headquarters is in Chicago’s North Center neighborhood, has grown tremendously since its founding in 2000 to become one of the largest mortgage lenders in the country based on loan volume, according to industry news and data provider Inside Mortgage Finance. Its name has adorned the White Sox stadium since 2016, and as recently as 2018, Guaranteed Rate was named a Chicago Tribune Top Workplace — a distinction based on surveys conducted by an outside company, with no input from editorial staff on the selection.

Guaranteed Rate CEO Victor Ciardelli prepares to throw out the ceremonial first pitch at a White Sox home game in August 2016. The ballpark would be renamed after his company later that year. (Chris Sweda/Chicago Tribune)

Jason Scott, a former top-producing loan officer and director of VA lending, which provides home loans to military veterans and active-duty service members, at Guaranteed Rate said his earlier years at the company — when lower mortgage rates fueled industry growth — were positive. But Ciardelli’s outbursts and verbal abuse of employees grew more noticeable, he said, when rising interest rates started to erode those gains, especially after the boom years of the COVID-19 pandemic.

“I think crazy success just brings out who the real people are,” said Scott, who reported to Ciardelli in his director role and now works for CrossCountry Mortgage, a competitor of Guaranteed Rate. “What did you sacrifice to get there? Did you sacrifice your soul or your core values?”

Many other former employees who spoke with the Tribune did so on the condition they would not be named in this story, saying they feared Guaranteed Rate would sue them. Guaranteed Rate has filed lawsuits against former employees to claw back signing bonuses; it also has sued competitor New American Funding and former employees who have hired former Guaranteed Rate workers, accusing them of unlawful poaching.

Ciardelli declined to be interviewed without his attorney for this story. In response to written questions provided by the Tribune, he and the company suggested the criticism of Guaranteed Rate came from disgruntled employees who could not succeed in a demanding work environment within a challenging industry, or from people who now work for a competitor and therefore would benefit from disparaging the company.

“We hold ourselves and our team members to an incredibly high standard and are not apologetic about that,” Ciardelli said in his written responses, sent through the outside law firm retained to handle communications with the Tribune. “We also recognize … that to achieve great success, one must embrace a full ownership for their actions, both successful and otherwise to achieve growth and most important optimally serve our customers. We promote a transparent culture that supports all our team members toward that goal and welcome constructive criticism. As a result, we are not for everyone.”

Ciardelli specifically denied berating staff, yelling at executives after the app launch or ever calling employees “stupid” or “failures.” He quoted the company’s chief operating officer, Nik Athanasiou, as saying: “I have worked with Victor for 15 years. No one is in more meetings with him than me. I do not ever recall an instance where Victor was abusive toward another employee.”

Ciardelli also pointed to the company’s anti-discrimination and anti-harassment policies and said neither he nor any other executive interfered with human resources.

In response to questions from the Tribune about women’s complaints, including being subjected to sexually explicit comments and working in a “boys club” atmosphere, Ciardelli wrote that such allegations are “simply not true.” The company “has not, does not, and would not objectify women or put them in uncomfortable personal or professional situations,” he wrote.

Ciardelli also highlighted the large number of female loan officers working at the company, their professional success and the testimonials from female employees. When the Tribune asked to speak with four of those women, only one — Rola Gurrieri, the company’s New Jersey-based chief fulfillment officer — agreed to be interviewed without outside counsel or management present.

Regarding the lawsuit filed by former Guaranteed Rate loan officer Megan McDermott, the company told the Tribune it had “found no evidence supporting Ms. McDermott’s allegations of sexual harassment or gender discrimination” after conducting a “comprehensive investigation.”

Guaranteed Rate also sent a general statement detailing the company’s business philosophy, which includes a “fierce commitment to excellence.” Employees who do not “meet our core values or our quality standards” find it challenging to maintain job satisfaction at the company, it said.

“Many of these employees walk away not feeling good about the company which is a natural emotion when faced with a reality that their standards and the company standards are not aligned,” the statement said.

But many of the former employees who spoke with the Tribune described a cutthroat work culture they said could be frightening and upsetting, with several attributing that culture to Ciardelli’s laser focus on making money and growing Guaranteed Rate.

A sign is installed at the White Sox stadium in October 2016 to proclaim its new name: Guaranteed Rate Field. (Zbigniew Bzdak/Chicago Tribune)

The former assistant who emailed human resources asked not to be identified in this story, fearing it might jeopardize her current job or trigger retaliation from Ciardelli. In that email, the woman wrote that she was “constantly on edge and terrified to have an interaction with Mr. Ciardelli” and that she had “consoled each assistant on his team that endured the wrath of Mr. Ciardelli’s behavior.”

“I hope that my experience will open your eyes,” she wrote.

Flying too close to the sun

In an interview with the Tribune in 2014, Ciardelli made plain his ambition to grow the company.

“If you can’t handle it, you shouldn’t be here,” Ciardelli said. “Instead of feeling like, oh, we care about people’s feelings and all that, it’s all about results.”

In the same article, Ciardelli said he worked constructively with his employees when issues arose at work. “There’s no drama involved; there’s no yelling,” he said. “Let’s fix the issue and move on.”

But multiple former executives and employees told the Tribune Ciardelli regularly yelled at and verbally attacked executives and other employees in person and on company calls, sometimes in front of hundreds of people, with the calls following the app launch just one example.

Some former and current employees told the Tribune they tried to avoid Ciardelli because they were scared of his temper.

Scott, the former director of VA lending who worked at Guaranteed Rate from 2017 until he resigned in 2022, splitting his time between offices in Hawaii and Colorado, called Ciardelli a “bully.”

Scott told the Tribune that, during one call, Ciardelli took an executive “to the woodshed and just eviscerated him verbally,” saying things such as “I can’t believe you are this stupid.”

“(Victor) throws the grenade and then he leaves the room,” not giving people a chance to explain or talk through the issue, Scott said.

At the time of Ciardelli’s 2014 Tribune interview, Guaranteed Rate had 2,500 employees nationally, 1,050 of whom were based in Chicago, according to Tribune archives.

The company grew to employ 9,708 people nationwide at its peak in 2021, Guaranteed Rate told the Tribune in May. Part of the company’s growth stemmed from its acquisitions of other mortgage companies: Manhattan Mortgage and Superior Mortgage in 2012 and Stearns Lending in 2021.

Victor Ciardelli, shown in 2014 at Guaranteed Rate’s headquarters, told the Tribune that year that he had ambitious plans for the company and “if you can’t handle it, you shouldn’t be here.” (Abel Uribe/Chicago Tribune)

Guaranteed Rate also partners on mortgage services with some of the largest real estate companies in the country. Including the people working in those partnerships, Guaranteed Rate had 14,264 employees at its height in 2021.

Like other mortgage companies, Guaranteed Rate has suffered a significant decline in business over the last two years, stemming from mortgage rates that have more than doubled from their record lows during the pandemic.

As mortgage rates soared in 2022 and 2023, the firm implemented thousands of layoffs, with only 3,871 workers remaining as of April, or 5,756 among all its companies, excluding contractors, as of May, according to the company.

Yet Ciardelli’s volatile behavior predated the stressful times in the housing market, according to some people who worked for Guaranteed Rate. Many people who “fly too close to the sun” — a metaphor some employees used to describe working directly with Ciardelli — eventually leave, they said.

People who work in personal and executive assistant roles for Ciardelli rarely last long in their jobs, with many leaving after less than a year, former employees said. Some referred to Ciardelli’s assistant position as a “revolving door,” and the LinkedIn profiles of multiple former assistants show short stints with the company.

More than two dozen executives and senior loan officers have left the company over the last decade, with a significant exodus occurring in the past two years. Multiple former executives and loan officers — including Scott — told the Tribune they left because of Ciardelli’s verbal outbursts and what many described as a workplace where they felt bullying and misogyny were tolerated. Most now work for competitors.

Ciardelli and other executives sometimes would disparage people who left the company, according to Scott.

“I would be like ‘Guys, did anybody ever think about reaching out to them before they left and having an exit interview with them?’” Scott said. “You are talking about a person that was a top producer here that you loved them as long as they produced, and now that they leave, they are an enemy? … They are leaving for a reason.”

In Ciardelli’s written responses to Tribune questions, he said allegations of a toxic work environment or bullying on his part are “not aligned with Guaranteed Rate or my leadership.” He said neither he nor other executives have disparaged former employees when they left the company.

In response to a question about assistant turnover, Ciardelli wrote that he has worked closely with five “primary” assistants since 2000. “As is the case with any demanding support roles, there has been some turnover with secondary and tertiary assistants, but nothing that is abnormal or unexpected,” he wrote.

One testimonial sent to the Tribune was from Melissa Czaszwicz, who said she worked for Ciardelli as an executive assistant in the early 2000s. She wrote that she had a positive experience working closely with Ciardelli, who she said was especially supportive when she had children.

“Never did I witness anything inappropriate or out of line,” said Czaszwicz, who still works at Guaranteed Rate.

‘Mental health has suffered’

Some former employees who spoke with the Tribune said they were driven to seek mental health support during and after their time at the company because of the negative work environment they experienced at Guaranteed Rate.

Most of those who shared their experiences worked for an executive who has a close working relationship with Ciardelli. Former workers said this executive also verbally abused staff and was prone to volatile mood swings.

One told the Tribune she texted and called a suicide hotline last year while working at the company because of verbal abuse from the executive; she shared the texts she sent with the Tribune.

In her resignation email, sent to the executive and to the human resources department last year, she wrote: “My mental health has rapidly declined due to the way I have been treated and spoken to in the last couple of months.”

Another employee from the same team wrote in a 2019 resignation letter sent to the executive, human resources, Ciardelli and others that his “mental health has suffered.”

Founded in 2000, Guaranteed Rate grew to become one of the largest mortgage lenders in the country but has suffered a decline in business as mortgage rates have soared in the last two years. (Brian Cassella/Chicago Tribune)

In the resignation email and in an interview with the Tribune, the former employee said his boss gave him the runaround when he asked for time off to attend his mother’s chemotherapy appointments and complained to other employees about his requests.

Other employees discouraged him from requesting leave directly from human resources, warning him he would be fired if he went around the executive, according to the email.

Alyssa Ortiz, another former employee, said working with this executive was like being in an “abusive” relationship, being yelled at one minute and being invited for drinks the next.

“Everyone has gotten … chewed out and left crying,” said Ortiz, who worked for Guaranteed Rate from 2017 to 2019.

Ortiz told the Tribune that human resources and Ciardelli had been notified of this executive’s verbal mistreatment of employees but did nothing. She and about a dozen other former employees told the Tribune they felt Ciardelli protected this executive because of their working relationship.

In a written exit interview from 2020, one employee from the same department described how the executive would discuss former employees’ exit interviews with current employees.

“This created a fear for us to go to HR for anything moving forward,” the employee wrote.

Ciardelli said the company was not aware of any incident in which an executive read former employees’ exit interviews aloud; he said Guaranteed Rate “would never support this practice.”

Dozens of employees have left the executive’s department since 2017, according to interviews with former workers and LinkedIn profiles. The executive has since been promoted, the executive’s LinkedIn profile and the company’s website show.

In 2018, the head of human resources at the time took away the HR representative working with the executive’s department because of “risks” the executive posed to the company, according to an email reviewed by the Tribune.

“I can’t in good conscience keep allowing (the executive) to drag other employee (sic) into … schemes,” the former HR head wrote. “And by schemes I mean risky bull−−−−.” The department would have no assigned human resources representative after that, according to the email.

In correspondence with the Tribune, Guaranteed Rate described the company as a positive workplace where abuse and harassment are not tolerated and where complaints to human resources are taken seriously.

“We are not perfect by any means, but we do work hard to listen to our employees and make sure they feel supported,” a company spokesperson wrote in an email to the Tribune in April. “Most of all, we have no tolerance for any form of bullying, harassment or mistreatment. It is not who we are or who we want to be.”

Some of the employee testimonials provided by Guaranteed Rate expressed similar sentiments. For example, Mohamed Tawy, a branch manager and senior loan officer who has been with Guaranteed Rate for three years, wrote that the culture at the company is the best he has experienced in his 15-year career.

In an interview with the Tribune, Tawy said: “As a top producer … and I’m also a minority myself, I haven’t felt anything or seen anything that makes this company in any way negative for anybody that’s different. … I’ve seen here all that matters is that you do a good job, your production is good and that you follow the protocols and the rules, and I’ve seen people succeed with that more than any company I’ve been with.”

The Guaranteed Rate spokesperson also shared the results of an employee experience survey conducted in February. According to the company, the average rating for the culture at Guaranteed Rate was 8.49 out of 10, with nearly 75% of 3,745 employees responding. Those ratings were based on employees’ stated level of comfort providing feedback and/or concerns, how much they felt supported by the company in maintaining a healthy work-life balance and their sense of Guaranteed Rate’s commitment to promoting diversity and inclusion.

The email from the spokesperson said the company received “a countless number of positive comments and appreciation for their leaders, teams and our overall culture.”

In response to Tribune questions, Guaranteed Rate said in May that the survey was anonymous and it was analyzed by its “employee experience team.” The company did not provide the Tribune with a complete set of responses from the survey, but it volunteered that employees used the word “toxic” to make a negative comment about Guaranteed Rate in only 14 of the more than 5,000 written responses provided to three open-ended survey questions.

‘Mortified and disgusted’

Megan McDermott, a single mother of three, met her supervisor at Guaranteed Rate, Jon Lamkin, in person for the first time at a corporate event in December 2015, according to the lawsuit she filed in February.

When Lamkin heard the age of her oldest child, the suit alleges, he said: “You should have known better than to let some guy’s d−−− c−−− inside you.”

According to her lawsuit, McDermott reported the comment to Joseph Moschella, a regional manager and senior loan officer at Guaranteed Rate who was responsible for McDermott’s region while she worked at the company. Moschella, the suit alleges, “pressured” her not to make a formal complaint of sexual harassment to human resources.

McDermott told the Tribune she was “mortified and disgusted” after Lamkin made the comment.

“The irony here is that Jon should have known better than to treat an employee the way he did rather than telling me I should have known better to become a single mother at 20 years old,” McDermott said, “which is vile. … He set the tone the first day I met him of the power Joe and Jon had over my career.”

Megan McDermott, shown in March in New Jersey, has filed a lawsuit alleging she was “subjected to a sexual and gender-based hostile work environment” at Guaranteed Rate and did not receive the same opportunities, treatment and pay as male loan officers. (Brian Cassella/Chicago Tribune)

As McDermott went on to become a top-producing loan officer for Guaranteed Rate in New Jersey, her suit alleges Lamkin subjected her to abuse by “regularly screaming at her and using gender-based and demeaning slurs to refer to” her and other women at the company.

Her lawsuit alleges she was “subjected to a sexual and gender-based hostile work environment” by Guaranteed Rate, Lamkin and Moschella. Her suit also alleges McDermott did not receive the same opportunities, treatment and pay as male loan officers, which some other female loan officers told the Tribune reflected their own experiences as well.

McDermott did not lodge a complaint after Lamkin’s comment because she “believed she would be retaliated against” if she did so, the suit states. When she did report to HR around 2019 that Lamkin had engaged in “abusive behavior,” the department “failed to do anything to investigate or curtail Defendant Lamkin’s behavior,” the complaint alleges.

“Joe encouraged me not to go to HR because of the damage it would do to Jon’s career,” McDermott said. “Ultimately, all that they were worried about was Jon, his reputation and his career versus reporting inappropriate behavior.”

Guaranteed Rate told the Tribune in its May response that Lamkin’s comment was “nothing more than a single off-color joke,” that McDermott accepted an apology from Lamkin and that Moschella “encouraged” McDermott to contact human resources if she was “still upset.”

The company said it “could not find any record of Ms. McDermott making any form of complaint to the company’s human resources department in 2019, either verbally or in writing.”

McDermott told the Tribune she helped build Guaranteed Rate’s business in north Jersey from the ground up and said she loved the work until she found out she was not being treated equally as a woman.

“I believe management did not want to see me succeed, didn’t take me seriously and made decisions that negatively affected me and my children financially,” said McDermott, who now works for CrossCountry Mortgage, a competitor. “I ultimately left GR because I could no longer work in an environment where I was not valued and leadership felt that they could exploit me.”

Moschella and Lamkin are still employed at Guaranteed Rate. They did not respond to a Tribune request for comment. Guaranteed Rate told the Tribune in May that it had investigated McDermott’s allegations of sexual harassment and gender discrimination and found that “there is no evidence that Mr. Lamkin or anyone else at Guaranteed Rate ever created a hostile work environment for women.”

Guaranteed Rate also said in a statement that it complies with state and federal equal pay laws. The company said an “outside law firm” had reviewed its 2023 pay data and found it compliant with state equal pay laws.

In his written responses, Ciardelli highlighted the high percentage of female loan officers at the company in comparison to its competitors and said “our women originators thrive more than at any mortgage company in the industry.”

Employee statements provided through Guaranteed Rate’s attorneys included testimonials from dozens of women. Some noted the existence of the company’s employee resource group for women, GROW, while others cited the presence of women in leadership roles throughout the company.

“In addition to my professional growth I’ve experienced, I am equally grateful for the respect and dignity with which I have been treated as a woman in the workplace,” Jaime Kinman, a senior loan officer, said in her statement. “In an industry where gender biases still exist, I have never once felt marginalized or overlooked because of my gender.”

Gurrieri, the company’s chief fulfillment officer, said in an interview with the Tribune that she “never one time” experienced misogyny at the company.

“I got promoted when I’m six months pregnant,” she said. “That’s unheard of.”

Gurrieri, who has worked for Guaranteed Rate for more than six years, described Ciardelli’s leadership style as “extremely passionate.”

“There’s never been a day where I ever felt disrespected or not appreciated,” she said.

According to a former top executive who reported to Ciardelli for many years and a former human resources employee, a handful of loan officers at Guaranteed Rate were known sexual harassers, making women feel uncomfortable with inappropriate touching and unwanted advances in work settings.

But that behavior was rarely addressed, the former workers believed, because the men were friends with Ciardelli or were high-producing loan officers — each responsible for bringing in tens of millions of dollars in loan volume. Some of these loan officers still work at Guaranteed Rate.

Ciardelli called these allegations “simply not true” and said they were contradicted by the employee testimonials provided through the company’s attorney.

“They are also inconsistent with the recollections and experiences of multiple former HR professionals,” Ciardelli wrote.

A ‘sex-driven’ culture

In interviews with the Tribune, multiple former employees described a “boys club” atmosphere at Guaranteed Rate; Scott, the former director of VA lending, said there was “a lot of misogyny.”

Jessica Moreno, a former Chicago employee who started at Guaranteed Rate at age 23, said she was the first in her family to get a corporate job. Within a year of starting her job, she said, she was paying the mortgage on her family home.

But in her department, Moreno said she experienced a “sex-driven” culture.

“All the guys were just like, tongues on the floor,” said Moreno, who worked for the company for about four years starting in 2014. Her workplace was “like a men’s locker room, and women were in it,” she said.

Jessica Moreno, shown in April in Arizona, worked for Guaranteed Rate for about four years starting in 2014. She said male co-workers and managers hit on her and made comments on her appearance. It was “like a men’s locker room, and women were in it,” she said. (Brian Cassella/Chicago Tribune)

Male co-workers and managers would hit on her and make comments on her appearance, calling her pretty, Moreno said. Comments made at Christmas parties or happy hours could be crasser, she said.

“You’ll get, ‘Oh, I’ve always wanted to f−−− you,’” she said.

Moreno said she once overheard a male manager describe a woman who had interviewed for a job as a “fox.” Another time, she said, a manager invited a female massage therapist to the office; Moreno remembers male co-workers commenting on the therapist’s body, too.

Soon after she’d started at Guaranteed Rate, Moreno said, she met with HR to make a complaint about a manager who swore at and belittled her. The HR representative brushed off her concerns in that meeting, she said.

“After that, I felt so discouraged to never even speak up again,” Moreno said.

Moreno ended up leaving her position before taking a job working for a Guaranteed Rate loan officer; she said she was terminated after clashing with the loan officer’s assistant.

Some female former employees of Guaranteed Rate said they understood looks to be a currency within the company.

One former Chicago employee said a manager encouraged her to text a selfie to a client after hearing the client flirt with her over the phone and say he’d be inclined to speed up the loan process if he knew what she looked like.

The employee said she sent the selfie, and the manager then pushed her to go along with the client’s harassment until the loan closed, she said.

After receiving the photo, the client responded, “As pretty as you are I can’t believe some man hasn’t run off with you just howling away,” in a text reviewed by the Tribune. Later on, after sending her forms, the client texted her: “You said I would get another pic when I sent you the forms so?”

The employee said another manager in her division would frequently flirt with her and comment on her appearance. He once texted her to “stop losing weight damn it” and another time texted her that she “broke (his) concentration,” according to texts reviewed by the Tribune.

Another former Chicago employee remembered a manager telling her, while she was pregnant with her first child, “Whatever you do, don’t get a C-section — you’ll never wear a bikini again.” The employee went out on maternity leave days later. She said she did end up needing a C-section and remembers the manager’s comment echoing in her head as she was wheeled back for surgery. Two people the woman told about the incident at the time corroborated her account in interviews with the Tribune.

Several former employees in the marketing department, including two men, told the Tribune Ciardelli made comments about workers’ ages. One employee got Botox and fillers after Ciardelli told employees they were “too old” and likened the marketing department to his “grandmother’s mortgage company,” according to former marketing department employees.

In his written responses, Ciardelli said “Guaranteed Rate is committed to fostering an environment that promotes diversity, equity, inclusion, and accessibility. We maintain a comprehensive set of employment policies aimed at providing a work environment free of unlawful harassment and discrimination, where all employees treat one another with dignity and respect.”

Guaranteed Rate’s corporate headquarters is in Chicago’s North Center neighborhood in a building with a rooftop gathering space. (Brian Cassella/Chicago Tribune)

A spokesperson said in the April 1 email sharing the employee survey results that the company had launched “even more initiatives to ensure we have a positive work environment,” including anti-harassment training, training for the human resources team “to take proper and appropriate steps and best practices for investigating and responding to employee complaints” and reminders to employees on how to report harassment or abuse.

“Our executive team has emphasized to Human Resources that all complaints should be investigated, and any form of harassment and misconduct should be dealt with swiftly – and all managers and employees who are not acting in accordance with our values be rooted out of our organization,” the spokesperson wrote.

In the company’s May responses, it said these initiatives were launched in 2023 and were to “expand and enhance” the existing training program.

All Guaranteed Rate employees must complete “harassment and discrimination prevention training” upon being hired and on an annual basis thereafter, according to the company’s May response. The company said Guaranteed Rate has an “anti-retaliation” policy that prohibits retaliation against employees who report alleged harassment or discrimination or participate in an investigation into the conduct. The company also noted it has an ethics hotline through which employees can make anonymous complaints.

“We respect and treat all employees equally no matter their sex, color, or creed,” Ciardelli wrote.

In the last 10 years, Guaranteed Rate has not settled any lawsuits involving claims of a hostile work environment, according to the company. Guaranteed Rate’s response stated that within that time frame, the company settled six claims involving allegations of a hostile work environment, including arbitration cases as well as claims filed with the Equal Employment Opportunity Commission and state and local agencies. The majority of those claims were brought by male employees, and one was resolved in Guaranteed Rate’s favor, the company said.

Guaranteed Rate employees are asked to sign mandatory arbitration agreements when they are hired, but sexual harassment claims and claims filed with the EEOC and similar state agencies are not subject to arbitration, according to Guaranteed Rate’s May responses.

‘Positive thinking’

Publicly, Ciardelli presents himself as a champion of a positive work environment — an image the company has encouraged employees to promote.

In an email sent in February by a company executive and obtained by the Tribune, employees were encouraged to share a Forbes article featuring Ciardelli; the email provided step-by-step instructions for posting it on social media.

The story, published Feb. 7, was titled “Guaranteed Rate Founder Is All In On ‘Positive Thinking’ This 2024” and described his leadership style as “Chicken Soup for the Mortgage Industry.”

“I communicate the power of positivity and gratitude to everybody around me: employees, friends, family members, everyone,” Ciardelli was quoted as saying.

Less than 24 hours after it went live, the article disappeared from the Forbes website. The site provided no explanation, but one former Guaranteed Rate employee told the Tribune former workers had written to the author about factual inaccuracies.

On Feb. 8, a Guaranteed Rate executive sent another email encouraging employees — again with step-by-step instructions — to delete any social media posts linking to the article.

“We are working with Forbes to resolve and will let you know when it will be reinstated,” the email said. “We apologize for the inconvenience, and we will send out a new link as soon as it’s available.”

The Forbes contributor declined to comment for this story. Forbes told the Tribune the article was taken down because it did not adhere to the company’s “editorial guidelines” and did not respond to further questions.

The article has yet to be republished, but Guaranteed Rate still wants people to read it. The company shared it in a PDF on its LinkedIn page.

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Processing, Correspondent, Valuation Tools; CPI! The CFPB Proposes What? Figure Streamlining HELOCs and More

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Wed, Jun 12 2024, 11:35 AM

Florida became a state in 1845. Sixteen years later, kites were used in the American Civil War to deliver letters, news, and newspapers. Now we have… the internet. Here in Sarasota, at the MBA Florida Conference, yesterday’s CFPB proposal turned heads. A “rule” would remove medical bills from most credit reports, “increase privacy protections, help to increase credit scores and loan approvals, prevent debt collectors from using the credit reporting system to coerce people to pay, stop credit reporting companies from sharing medical debts with lenders and prohibits lenders from making lending decisions based on medical information.” “Just because little Timmy can’t hit a baseball doesn’t mean they need to narrow the plate to make throwing strikes harder,” said one person. “Do we need more people bidding up starter homes?” asked another. “Let’s leave off mortgage payments, or late payments, from credit reports,” said sarcastically said another. Click on the link above to comment and stay tuned! (Today’s podcast is found here, and this week’s are sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, cybersecurity, technology, and other services to the mortgage industry. Hear an interview with Zavvie’s Maya Velazquez on cash offers and buy-before-you-sell modern bridge solutions to empower buyers.)

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Figure Attracting Attention

Figure Technology Solutions has launched Figure Connect, a “first-of-its-kind blockchain-based multi-seller, multi-buyer marketplace of private credit loans.” With Figure’s HELOC product, consumers can get approved for a loan in as few as 5 minutes, with funding in as little as five days. “With Figure Connect, originators can receive forward commitments from buyers, lock active bids, control loan pricing to balance profitability and volume, and deliver pools of loans into those commitments. This functionality is facilitated with common, standardized sale terms and documentation. Figure Connect is designed to drive efficiencies for loan buyers and sellers and reduce an often months-long settlement process into days.”

“Leveraging the power of the Provenance Blockchain, a distributed, proof-of-stake blockchain, Figure Connect is designed to drive efficiencies for loan buyers and sellers and reduce an often months-long settlement process into days. Figure Connect helps disintermediate the loan delivery process, standardizing key characteristics of loan pools and sale terms, and creating greater price certainty ahead of the initial loan origination. Ultimately, Figure believes this engenders market liquidity by adding certainty of funding to loan originators and collateral composition to loan buyers.”

“Figure Connect marks another transformative step towards creating the first highly liquid private capital marketplace for loans, as we now offer unique certainty of funding to loan originators and standardization to loan buyers,” said Michael Tannenbaum, CEO of Figure. Figure Connect’s initial partners include The Loan Store, Movement Mortgage, Bayview Asset Management, and Saluda Grade. The Figure Connect marketplace is now available to all other participants in Figure’s lending ecosystem. (Those interested can email [email protected].)

Figure stated, “Today’s private consumer credit capital markets don’t work. Take non-QM mortgage as an example. Every lender has their own unique origination standards. Lenders negotiate one-off loan purchase agreements (LPAs) with buyers, where no two LPAs are the same. Once a lender delivers their contractual obligation of loans, they hope the buyer either re-ups for more loans or a new buyer takes their place, with yet another new and different LPA. The resulting loan pools are bespoke, non-homogenous, and illiquid. The only path to liquidity is frequently pledging loans into the capital markets for securitization.

“Periodically, but with consistency, capital markets shut down. When this happens, not only do buyers not re-up on new LPAs, they often stop buying outright, even with outstanding commitments to do so. How do they do this when there is a contract in place to buy? They delay wires, reject delivered loans or, as in 2008, they say, ‘sue me.’

“Lenders can’t turn off loan origination… Doing so kills their business. To manage inevitable capital market shutdowns and keep the loans flowing, lenders need to hold excess equity on their balance sheet. Limiting production negatively impacts consumers. Non-QM mortgages came to the market with great fanfare, offering flexibility a conforming mortgage couldn’t, but represented just 2 percent of 2023 mortgage production. The lack of a persistent and deep capital market ultimately puts a limit on origination and results in restrictive terms and higher rates for consumers.

“Contrast this to the government sponsored entity (GSE) conforming mortgage market (e.g., Fannie Mae and Freddie Mac). The same non-QM lender that needs to throttle monthly production due to the volatile capital markets and their own equity constraints can originate an unlimited amount of Fannie Mae and Freddie Mac loans, as the bid is always there. The GSEs standardize production. Fannie Mae uses Decision Underwriter and Freddie Mac uses Loan Prospector to standardize underwriting. There are single seller agreements for each GSE – not bespoke LPAs. They support a to-be-announced (TBA) security market. TBAs allow lenders to sell forward production, locking in prices and liquidity. The GSE mortgage TBA market is the second largest market in the world (behind only U.S. Treasuries) and trades $200B+ a day. And the GSEs guarantee the cash flows of their pass-through securities. While government backing was always implicit, it became explicit when the GSEs went into conservatorship. Investors only take first order rate risk when buying Fannie Mae and Freddie Mac paper (with second order credit exposure to the guarantor).

“Figure believes that the fundamentals of mortgage underwriting (credit, income, and property) can all be captured electronically without any humans. Figure built a loan origination system (LOS) and capital market to do this. And to ensure the immutability of the data and our adherence to process, Figure put the loans and all of the underlying data on a public blockchain, Provenance Blockchain. Figure secured warehouse lending in 2018, did the first securitization of its loans in 2020, and in 2023 did the first AAA-rated securitization of its loans. Removing humans from the origination process and using immutable technology allowed Figure to dramatically reduce the TPR process, saving significant dollars on warehouse pledging, trades, and securitizations.

“Figure has a B2B2C model for third parties to use Figure’s automated LOS. Since launch, Figure and its current 90+ third party partners have originated over $10 billion in HELOCs. Because of the automation of the underwriting, all the loans are the same irrespective of the lender. Figure’s LOS brought GSE-like AAA-rated homogeneity, transparency, and certainty to the market.

“Figure recently facilitated a milestone transaction: the first loan sale on the ‘Figure Connect’ marketplace, with multiple buyers and sellers using a common LPA and leveraging Figure’s LOS for standardized origination. The launch of Figure Connect, which connects originators directly with buyers for loan sales using common documentation, reps and warranties, was years in the making: Figure built a partner lender network on its common LOS, and convince loan buyers that (1) their unique differences across LPAs did not result in any performance improvement and a common LPA would work and (2) Figure Connect was their best opportunity to source collateral. Figure had to prove we could achieve a highly competitive AAA-rated securitization takeout for a fully automated underwriting process.

“The multi-buyer, multi-seller common LPA paradigm sets the foundation for a permanent capital vehicle that can buy loans from the marketplace, package those loans into an ‘guaranteed’ pass through and sell to investors. Figure is working with capital partners to stand up this vehicle to facilitate a TBA market for lenders and investors, and we are also working with sell-side banks that can make markets in both the TBA and the pass-throughs. This ecosystem will leverage Figure’s LOS for homogeneity, efficiency and ratings and Figure Connect for liquidity. The goal is to deliver a market first by year end 2024: an “always on” liquid GSE-like market for non-GSE credit.

“Without blockchain, Figure could not stand up and sustain this new capital market ecosystem. Blockchain displaces trust with truth. The ability to capture data electronically and store that data in an immutable ledger dramatically reduces the need for TPR. Remit and loan performance can be shown real time. The certainty of data reduces the guarantor cost of credit support. And with loans, pass-through securities, remit data and the guarantor’s capital all recorded on public blockchain, we can swap the opaqueness that took down the mortgage guarantors in 2008 with real-time, shared transparency that should keep access to capital open, when needed.

“And blockchain facilitates frictionless markets. Figure uses the Digital Asset Registry (DART) to record loan ownership on blockchain. Unlike the Mortgage Electronic Registry System (MERS), DART ‘listens’ for transactions, updating the registry as transactions occur. Unlike MERS in 2008, the record of ownership is never out of date. Figure uses Figure Market’s ATS for the trading of pass through and TBA securities, allowing for 24x7x365 bilateral transactions with instant settlement.

“Freddie Mac’s recent interest in the second lien space has prompted many to question how the GSEs might impact Figure’s business. However, given the automation and lower costs that Figure has brought to the ecosystem, the right question is actually when will Figure impact the mass market mortgage business today dominated by the GSEs.

“The Figure HELOC process lowers costs by 80 percent. With its meaningful investment in artificial intelligence, this cost advantage will only grow. Figure’s modern loan settlement and payment infrastructure ensures loan investors get paid with significantly greater speed and accuracy vs. the status quo.

“We see Figure Connect’s value in ALL lending markets – not just HELOC. The Figure LOS that our partners use today not only originates HELOCs, it is designed to originate everything from auto to first lien mortgage loans using the same automated processes. We believe Figure Connect benefits from economies of scale and diversification of credit, while lenders capture a much lower origination cost coupled with certainty in takeout. This combination makes every market, including conforming loans, open to change.”

Capital Markets

Bond prices finally rose yesterday after two days of losses following last Friday’s release of a stronger-than-expected jobs report for May. Yesterday’s bond market action was helped by a strong $39 billion 10-year note sale, which met much better demand than note sales over the past couple of weeks. It was a large chunk of this week’s Treasury debt issuance, totaling $127 billion.

But most of this week’s market movement hinges on today, with the June Federal Open Market Committee meeting (no change expected, but pay attention to the dot plot) and the Consumer Price Index release (the annualized headline reading was expected to remain static at 3.4 percent, while the annualized core reading was expected to cool by a tenth of a percent to 3.5 percent). Hope amongst investors today is that CPI data supports the case for the Fed to cut rates this year. We did learn yesterday that the NFIB Small Business Optimism Index posted another modest gain in May, reaching the highest level this year, although it remains below its 50-year average.

Today’s risk-filled calendar kicked off with mortgage applications from MBA increasing 15.6 percent from one week earlier, a big jump. We’ve also received all-important May consumer prices. CPI increased .2 percent month-over-month and the core, ex-food & energy, was +.2 as well, +3.4 percent year-over-year versus 0.3 percent and 3.4 percent previously with the core up () versus. 0.3 percent and 3.6 percent in April. Real weekly earnings () when they were seen increasing 0.2 percent month-over-month after falling 0.4 percent in the prior reading.

Now that the CPI data has been released, attention will turn to the conclusion of the FOMC meeting this afternoon, with the Fed’s interest rate decision and Fed Chair Powell’s follow-up press conference. The Fed is anticipated to maintain its current forward guidance, weighing the potential need for further rate hikes to control inflation against the belief that existing rates are adequate to continue reducing inflation. After CPI, Agency MBS prices are better by roughly .5 and the 10-year yielding 4.27 after closing Tuesday at 4.40 percent; the 2-year is down to 4.69.


Midwest growth and expansion opportunity! A strong, stable IMB with 35 years of lending experience is looking to expand its national footprint in the Midwest through an acquisition or a partnership with production teams or a regional bank. The IMB is licensed in 48 states with a stable capital base and is looking to partner/acquire loan production teams that are looking for the support they need to survive and thrive. They are looking for strong leaders that can see a vision for growth and opportunity to growth the Midwest into a region of strength. If you are a strong retail loan origination team or regional bank looking for stability and an amazing growth opportunity, please reach out to Chrisman LLC’s Anjelica Nixt to forward your confidential inquiry.

Incenter Lender Services announced the promotion of Shelley Duffy to EVP, National Sales, “Responsible for all aspects of Incenter’s expanding Enterprise Business Development team as the company innovates new solutions to strengthen clients’ competitive advantage.” Congratulations! “Ms. Duffy’s priority is empowering her team to match prospects and clients with the right outsourced or technology-based services depending on their needs.”

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A Little-Known Way Home Buyers Can Beat High Mortgage Rates

Assumable mortgages — or low-rate mortgages that home buyers can take over from home sellers — are making a comeback. The process can be challenging.

Ellen Harper was able to obtain a mortgage at less than half the current rate of 7.09 percent on 30-year-fixed loans, the most popular type of mortgage.Credit…Kendrick Brinson for The New York Times

Published May 9, 2024Updated May 10, 2024

Home prices were already high when Ellen Harper, a software architect living in Atlanta, started searching for a house in 2021. But she couldn’t have anticipated the quick surge in interest rates the next year, and, even with a large down payment, the new math made her uneasy.

This year, however, she stumbled upon what felt like a portal to the not-so-distant past: listings of thousands of homes that come with a low-rate mortgage, which can be transferred from the existing homeowner to a new home buyer, known as an assumable mortgage.

Ms. Harper, who is in her 50s, managed to snag one of these homes, closing two weeks ago on a four-bedroom brick colonial in Fairburn, Ga., with a $1,400 monthly payment. It’s an amount she’ll be able to comfortably afford into retirement thanks, in large part, to a 2.49 percent mortgage rate. That’s less than half the current rate of 7.09 percent on 30-year-fixed loans, the most popular type of mortgage.

“I didn’t want to get a bad mortgage and be in a ball-and-chain situation where all I would be able to do is pay the mortgage,” Ms. Harper said. She found her home through Roam, a start-up that went live in September and that lists homes with assumable low-rate loans and assists buyers through the process.

gimmick; it’s a built-in benefit on certain government-backed mortgages, as long as the new owners qualify. The process won’t work for all would-be buyers because there are several hurdles they may need to clear before they can claim the keys, often including a hefty down payment. For home sellers, it can be advertised alongside marble countertops, to attract more potential buyers.

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“You’re just focusing on different things than working a file, and that thing [could be] getting out in your community or focusing on a new growth area. Maybe get out of your tri-county area and focus on someone that’s not being served in a helpful way.” How brokers can gear up their business for busier … [Read more…]

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Piggyback, 2nds, POS Products; G-Rate’s CEO Podcast Interview; Agency News

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Piggyback, 2nds, POS Products; G-Rate’s CEO Podcast Interview; Agency News


Mon, Apr 22 2024, 11:28 AM

When I was a kid, whenever I would walk by a pay phone or newspaper vending machine, I’d check the coin change slot. Or periodically check under my Dad’s La-Z-Boy… every penny or dollar counted! (Nowadays, I still get excited when I find a forgotten quarter in my own pants or backpack.) Plenty of folks at last week’s Great River Conference were trying to do the modern equivalent of that by learning about the current vendor offerings of technology, or meeting with their current vendors to see if pennies or dollars could be saved on every loan given the current $12k+ cost per funded loan. Smart and compliant speed and efficiency are critical… speaking of which, found here, today’s podcast features an interview with Guaranteed Rate’s Victor Ciardelli on the company’s goal of closing a loan in one-day and how they will get there. This week’s podcasts are sponsored by Calque. With 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.

Lender and Broker Products, Software, and Services

When people say they can see miles and miles on a clear day, they aren’t wrong: the horizon is about 3 miles away, with some variation depending on your height. And whatever may lie beyond, Dark Matter Technologies is helping lenders prepare with its first annual Horizon user conference. The event kicks off Wednesday at the Fontainebleau Miami Beach and will bring together hundreds of industry notables to network, get the inside scoop on Dark Matter’s innovation roadmap, and explore business trends including market growth strategies, AI, and cybersecurity. Feeling a little FOMO? Request a consultation today and your team could be working smarter with the Empower LOS, and catching some Florida sun, by this time next year.

Does it feel like your current point-of-sale vendor has lost focus on mortgage? As a mortgage-specialized partner, Maxwell is committed to giving lenders a competitive advantage in a changing mortgage market. With Maxwell Point of Sale, lenders can tailor workflows to fit the unique needs of their organization, so back-end teams can work quickly without costly interruptions. Compared to a top competitor, Maxwell Point of Sale averages a 5.9 percent higher pull-through rate from rate-lock to close. For the average lender using Maxwell POS, this equates to $42MM in additional loan volume. Schedule a call with the team to learn how Maxwell Point of Sale can start working for you, your borrowers, and your lending team quickly.

Take your accounting department from “Cost Center” to Revenue Generator” with Loan Vision & LV-PAM. Loan Vision customers report a 10 percent reduction in loan fallout, 30 percent+ decrease in days to close the books, and 20 percent+ reduction in accounting headcount. Interested in learning how Loan Vision can reduce internal costs and help you gain a competitive edge? Contact Carl Wooloff to schedule a call today.

LoanStream wants you to Spring into more business with its April Specials on Prime, Non-QM and Closed End Seconds now through April 30th, 2024. Includes 25 BPS Price Improvement on FHA/VA loans 620+ FICO (excludes DPA and CalHFA) on Prime, 25 BPS price improvement on all Non-QM loans (excludes Select) and 25 BPS Price Improvement on all Closed-End Seconds. Restrictions apply so contact your LoanStream Account Executive to learn more. Specials are valid for loans locked 4/1/2024 through 4/30/2024. Offers subject to change at any time, terms and conditions apply.

Symmetry Lending introduces its April Special for Piggyback Pricing! Enjoy a remarkable discount on Piggyback HELOC transactions until April’s end, including a -1.00 percent Spring Discount for qualified customers with a FICO score of 740+ and a draw of $200k+, equating to Prime + .25 percent margin. This offer demonstrates appreciation for clients’ support and trust. Ready to seize this opportunity? Connect with your Symmetry Lending Area Manager to formulate a plan for getting these solutions in front of your clients today!

eClosing Survey by STRATMOR

Today, Snapdocs released new industry research that found lenders using the company’s eClosing platform experience 18-day faster loan velocity than their industry peers. The survey was conducted by STRATMOR Group with data self-reported by mortgage lenders. I got a note from Michael Sachdev, CEO of Snapdocs that said eClosing technology, when paired with the right partner to scale adoption, is helping lenders set new industry benchmarks for loan processing speed, operating costs, and borrower satisfaction. So often we see vendors make claims about their product value, but this report is a good example of that validation being sourced directly from the lender users themselves.

Agency and Investor News

Last week, the Department of Housing and Urban Development issued a HUD final rule that it says will increase lender participation in the Section 184 Indian Housing Loan Guarantee program, strengthen regulations to meet growing demand, and ensure the program will remain a vital resource for Native American families for years to come. Miki Adams, president of CBC Mortgage Agency, a correspondent investor that is wholly owned by the Cedar Band of Paiutes in Utah, stated, “The Section 184 program is a vital tool for so many Native American homebuyers. The new regulations will bring more clarity and predictability to this important program, and we applaud the Administration for the improvements and their efforts to work closely with Tribal leaders and other stakeholders. There is still more that must be done to modernize the program and we look forward to working collaboratively with HUD on future improvements.”

Loss mitigation: what would you do? A borrower is out of work, is three months delinquent on their mortgage payments, has been offered a new job in another state, and will relocate within 60 days. They’re also unable to catch up on their arrears and have equity in the home. What should the servicer do? Review this and other scenarios from Fannie Mae’s March Loss Mitigation webinar and download the presentation.

Fannie Mae has launched “Mission Index,” a new initiative to sell agency mortgage-backed securities (MBS) that cater to socially conscious investors, aiming to attract more buyers to the market, Bloomberg reported. Fannie Mae assigns scores to MBS pools based on affordable rental housing availability, borrower location (high-poverty or rural areas), and other indicators, giving investors more visibility into the underlying mortgages and stimulate lending to underserved borrowers, potentially leading to lower interest rates for these borrowers.

Saving for a down payment is a barrier first-time homebuyers face. While there are numerous down payment assistance programs (DPA) available, it can be difficult for housing professionals to find programs that meet the specific needs of their borrower. Given the number of DPA programs in the market, there hasn’t been a consistent way to match the right DPA program to the needs of a particular borrower. To address this issue, Freddie Mac launched DPA One®, a free online solution to help DPA program providers reduce submission errors and program requirement questions from lenders by developing a single, standardized, online access point to manage their DPA program information. To learn more, read Freddie Mac’s case study about how one of Freddie Mac’s housing finance agency partners, Southeast Texas Housing Finance Corporation (SETH), is promoting affordable housing in the Southeast Texas community.

As part of a recent Fannie Mae Mortgage Lender Sentiment Survey® (MLSS) special topic analysis, Fannie’s economists surveyed senior executives of mortgage lending institutions to better understand how they feel about Technology Service Provider (TSP) solutions, particularly as TSPs have become an increasingly essential part of lenders’ day to day operations. The results are in a new Perspectives blog.

Ginnie Mae announced revisions to its monthly single-family reporting requirements to include expanded Payment Default Status (PDS) reporting. The expanded PDS dataset will include loan default information, any mitigation actions taken, and the timing of those actions. For more information regarding the transition to the new reporting requirements, see All Participants Memorandum (APM) 24-06.

In Bulletin 2024-1, Freddie Mac announced changes to trust income requirements pertaining to history of receipt for trust income with pre-determined fixed payments, and documentation of continuance for all trust income types. Pennymac is aligning with these changes effective with loan deliveries on or after April 30, 2024. View Pennymac Announcement 24-36 for details.

Pennymac posted Announcement 24-37 informing it will update Conventional LLPAs effective for all Best Efforts Commitments taken on or after Monday, April 22, 2024.

Capital Markets

Investor attitudes drive investor demand, and therefore rates. So, what is driving investor attitudes? There is the escalated geopolitical uncertainty between Iran and Israel (central bankers are girding for potential oil shocks that could reignite consumer-price growth), there is rising volatility amidst fear of a potential rate increase due to sticky inflation (voting Fed members have not ruled out the possibility of a future rate hike and have urged patience for any potential easing at least until year-end), there is also cautious optimism surrounding the world economy (earnings season continues on Wall Street this week), and new economic releases are always on the docket, even if most are backward-looking (Q1 GDP, due out later this week, is expected to have risen to 2.9 percent as of the most recent estimate).

More germane to the mortgage industry, we learned last week that existing home sales were down 4.3 percent during the month of March. Meanwhile, housing starts fell 14.7 percent in March although some of the decline was attributed to weather conditions in parts of the country. In terms of the American consumer, retail sales in March rose 0.7 percent which was well above market expectations for a 0.3 percent increase. Additionally, retail sales from February were revised higher from the initial release. The 1.1 percent jump in control group sales led some economists to increase their forecast for personal consumption growth in the first quarter.

Bank economists are growing more optimistic about the outlook for credit conditions compared to the latter half of 2023, according to the American Bankers Association’s latest Credit Conditions Index. Conditions are expected to improve for a second consecutive quarter in Q2, which would mark the highest level in two years, reflecting a moderate increase in optimism. Job growth is expected to continue, inflation is forecasted to ease toward the Fed’s 2 percent target, and three rate cuts are expected by the end of the year.

This week’s highlights include month-end supply consisting of $183 billion in fixed coupons and $44 billion 2-year FRNs auctioned over tomorrow through Thursday, flash PMIs from S&P Global, new home sales, Fed surveys, durable goods, Q1 GDP, PCE, and Michigan Sentiment. No Fed speakers are scheduled with the Fed in blackout ahead of the May 1/2 FOMC meeting. The week gets off to a quiet start with one data point, Chicago Fed National Activity Index for March, due out later this morning. We start Monday with 30-year Agency MBS prices worse roughly .125 from Friday evening and the 10-year yielding 4.65 after closing last week at 4.62 percent.


radius financial group inc. is looking for an experienced Accounting Manager to lead all accounting operations. radius is a full-service retail mortgage banker that has been making mortgages better through a customer obsessed and team inspired culture since 1999. We are seeking an experienced Accounting Manager to lead all loan accounting, financial reporting, accounts payable and payroll functions. The Accounting Manager will report to the CFO and must have experience in a mortgage accounting system (Loan Vision is a plus), branch reporting and MSR accounting. Remote candidates will be considered and should send confidential inquires to Mike Clark.

Imagine a world where you, as a loan officer, aren’t stuck choosing between a broker model and a retail model. What if there was a company that blended the best of both worlds: the transparency of a broker model with the solid support of a retail banking platform? What if this company not only generated qualified local leads for you but also helped you add value for your existing realtor partners and connect with new ones? What if I told you this company is not just a dream: It’s real and it’s here to revolutionize your workflow. Please schedule a confidential Zoom meeting with Next Wave Mortgage.

TAYGO INC. presents an enticing new opportunity for a SaaS Sales Representative! This pivotal role is instrumental in propelling the success of TAYGO through selling our SaaS solutions to prospective clients. The key focus is comprehending the requirements and challenges of mortgage lenders (as well as mortgage brokers) and adeptly showcasing how our products, WEB-GO and RIN-GO, can optimize their operations and business performance. You must have a strong understanding of CRM products, their features, and the mortgage industry. You must effectively engage with prospects to understand their needs. You must also carefully monitor existing clients’ activities to identify upsell opportunities. You must have exceptional communication skills for online demos and meetings, cold or warm calls and emails. Your expertise, patience, and ability to build and maintain strong customer relationships will be vital in achieving our sales goals and ensuring customer satisfaction. Please send your resume to [email protected].

Alanna McCargo, President of the Government National Mortgage Association (Ginnie Mae) and whom I have had the opportunity to spend some time with, will resign from public office, effective May 3. “McCargo has served in the Biden-Harris Administration since January 2021, first as the Senior Advisor for Housing Finance in the U.S. Department of Housing and Urban Development (HUD) for former Secretary Marcia Fudge and then later nominated by President Biden to lead Ginnie Mae. McCargo’s confirmation, with bipartisan support by the U.S. Senate, made history as she became the first woman and woman of color at the helm of this U.S. Government corporation.”

The announcement came with the usual platitudes from Ms. McCargo about the Administration and Ginnie Mae and its “complex $2.5 trillion guarantee business” as well as others saying some very nice things about her.

Principal Executive Vice President (PEVP) Sam Valverde will serve as the Acting President upon President McCargo’s departure. Senior Advisor for Strategic Operations and Interim Chief Operating Officer Laura Kenney will assume additional responsibilities as part of this transition.

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