JPM’s Ellie Mae Downgrade; Lots of Vendor News/Products; Tariffs and Rates

Posted To: Pipeline PressWell, I’m a standing on a corner in Winslow, Arizona and such a fine sight to see. What if you want to put down roots there? The town, 3 and a half hours northeast of Phoenix, has plenty of reasonably-priced houses . It’s high desert, and a casual glance indicates that every tree in the yard adds about $50k to the value. Not much has changed there in the 46 years since that song was released, unlike our industry where there’s news every day. The latest is JPMorgan Chase’s downgrade of Ellie Mae after earning forecasts failed to meet expectations, while also citing lower home purchase volume, rising interest rates, and lack of entry-level supply for first-time home buyers, the kind catered to by many lenders who use Ellie Mae’s electronic origination platform Encompass. Random vendor updates…(read more)Forward this article via email:¬†¬†Send a copy of this story to someone you know that may want to read it.

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Michael Ayoub, Author NMLS ID 6631