Posted To: Pipeline PressWhat’s not being covered by the mainstream press here at the MBA conference? How about, given the rough financial conditions, monthly (and not quarterly) financials being requested by warehouse & correspondents? How about some attendees bunking up two to a room to save money? Lenders trying to hire LOs, but the top LOs not wanting to move as we enter the 4th quarter and companies not wanting to hire the low-producing LOs? Both originators and management saying that regulator-impacted comp plans have continued to cause confusion, inequality, and hasn’t helped the borrower? And perhaps using net, or residual, income instead of gross income in the DTI calculation ahead of the “QM patch” expiring in January 2021? Capital markets In the secondary markets the Agencies…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631