True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbor

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

Don’t sleep on non-QM products

Now is the perfect time for originators to consider expanding to non-QM products – to grow business, diversify their offerings and to ensure an opportunity to better serve their customers.

Mortgage

As profit margins shrink, mortgage execs look at LO comp

The top-producing LO is often not the most profitable

Mortgage executives have a hard time forgetting 2018. The market was coming off a refi boom, competition was fierce, and the profit margins were slim (if there were any at all). In a bid to gain market share, some of the biggest mortgage originators priced loans aggressively to keep production up and attract loan originators. It led to losses for many originators, who were slow to adjust their pricing. Today, as margins again compress due to a combination of rising interest rates, fewer refis and ballooning workforces, mortgage executives are keeping a close eye on LO comp.

Keeping a staff well-fed and happy while minding the bottom line is a delicate balance, mortgage executives said at a panel from the Mortgage Bankers Association‘s spring conference on Wednesday.

“Trees don’t grow to the moon, and at some point volume comes off from refinances and margin will get tighter,” moderator Michael McCauley, principal at mortgage consultancy Garrett, McAuley & Co., told the panelists.

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