REwired

new REwired blog header

Open commentary on everything impacting the U.S. housing economy. The opinions expressed here represent the author's alone.

It’s a whole new ballgame: Takeaways from MBA Tech

We're still in early innings
[Op-ed] In this commentary, Michael Kolbrener, the chief technology officer for PromonTech, writes about the recent MBA Tech conference. "It was fitting that the Mortgage Bankers Association chose Detroit, the launch pad of Rocket Mortgage, as the site for this year’s Technology Solutions Conference & Expo. The “liftoff” of that disruptive, imagination-capturing product has been the catalyst for a new appreciation of what technology can do for lenders and borrowers," he writes.
Read More

Responding to negative borrower reviews 

Rules for responding
Doing business in the Social Media Era means you're bound to get some negative reviews. The mortgage transaction can be stressful, frustrating, and delayed at times which does not make for a great experience. And with the rise of social media everyone now has a massive bullhorn at their disposal to tell everyone about it. This is why it is important to have a plan in place to respond to negative reviews. Here's how to respond...
Read More

Mile-high appreciation

Veros' Eric Fox takes a look at the high-performing area of Denver-Aurora-Broomfield
Whether it's ranking America's highest rates of real estate appreciation or just its highest real estate, Washington and Colorado are top of the heap. Those states, which coincidentally have eight of the 10 highest peaks in the continental U.S., have six of the 10 Metropolitan Statistical Areas topping the most recent VeroFORECAST projections from Veros Real Estate Solutions. This week, Veros' Eric Fox takes a look at the high-performing area of Denver-Aurora-Broomfield.
Read More

Bank of America’s problem with loan officers (and vice versa)

Toxic work culture is not the bank's only mortgage troubles
So BofA is still doing mortgages, just the way in which they’re now categorized is “immaterial”? Such language comes as no surprise to loan officers. It didn’t take me long to find one who has a problem with Bank of America. In a message on LinkedIn, the LO tells me that, as a loan officer who has been on both sides — wholesale and retail — she’s never had a good experience with Bank of America. Here's why.
Read More

Trend spotting: Appraisers take issue with Fannie Mae's Collateral Underwriter

Still several mortgage lender benefits to using this tool
[Op-ed] Is it fair to have 10 different appraiser's reports on a property and then for the lender to use that knowledge against an individual appraiser and question their ability to provide an accurate report? Appraisers seem to think it is unfair or perhaps altogether irrelevant. As an underwriter, here's one trend I'm seeing.
Read More

Monday Morning Cup of Coffee: Goldman Sachs buys startup Clarity Money to bolster Marcus

Plus, more on the AIME/Blend partnership for brokers
It's the start of a new week, but the news couldn't wait for Goldman Sachs, which announced on Sunday it purchased personal finance startup Clarity Money (and its 1 million users) to boost its consumer-lending business Marcus. Plus, more on the Blend and AIME partnership for brokers and a new mortgage servicing rule goes into effect this week.
Read More