DSCR, PPE. Borrower Intelligence, DPR Products; STRATMOR MortgageCX News; Training This Week; Chopra Speaks

Yesterday I listened to the CFPB’s Rohit Chopra discuss home loans. Today I head from Nashville to Chicago, both known all over the world. Here, the United States has everything: mountains, forests, plains, rivers, swamps, tropical jungles, glaciers, beaches… I could go on. But apparently there is a certain attraction for some in Italy, Mexico, Costa Rica, Portugal for U.S. citizens, and those are the top countries for Americans buying real estate abroad. Back in the U.S. of A, the subject of a lack of inventory continues to be discussed from coast to coast. What if the “big companies” sold their holdings? Well, Invitation Homes is the largest single owner of single-family rental homes in the United States, managing more than 80,000 homes. But why should they, or any other corporate homeowner? Speaking of big numbers, among unmarried people ages 18 and over who have never been married, widowed or divorced, regardless of their sexual orientation, the odds of finding a potential mate in the U.S. are in men’s favor. There are roughly 89.8 unmarried men for every 100 unmarried women. (Today’s podcast can be found here and this week’s is sponsored by SimpleNexus, an nCino Company, and award-winning developer of mortgage technology for modern lenders. Hear an interview with Servbank’s Linda Case on how mortgage servicers can maintain high quality standards throughout the life cycle of a loan.)

Lender and Broker Software, Products, and Services

Just as Portsmouth, NH boasts the “Smallest Chapel in the World,” Down Payment Resource (DPR) specializes in finding small programs that make a huge difference in peoples’ ability to afford a home. If you’ll be in town for the New England Mortgage Bankers Conference, schedule time with Tani Lawrence to explore how DPR can help you support homebuyer assistance programs that unlock the doors to homeownership for more borrowers. And if you’re not in Portsmouth, no need for FOMO. You can still book time with Tani to learn how DPR can help you recover loans declined due to insufficient cash-to-close or disqualifying DTI ratios.

Disneyland opened its gates 68 years ago, enthralling guests with magical lands that marked a turning point in amusement park history. This week, TrustEngine lifted the curtain on its new website and is inviting you to explore market-leading attractions that help lenders thrive in any mortgage market. Be sure to check out the TrustEngine Borrower Intelligence Platform (BIP) that ignites deals by identifying loan opportunities and engagement strategies tailored to borrowers’ needs. Learn how lenders are using TrustEngine to win more.

Old ways won’t open new doors. The mortgage landscape has changed, and so has mortgage technology. Purpose-built in the cloud and for the cloud, Polly’s revolutionary tech is trusted by leading banks, credit unions, and mortgage lenders nationwide to 1.) Drive down the cost of origination, 2.) Maximize margins and profitability, 3.) Facilitate speed, accuracy, and confidence across all loan pricing and lock processes – and so much more. Secondary and capital markets leaders demand flexible and highly configurable technology solutions, and Polly delivers. Get more from your PPE.

“Mortgage Brokers Earn Up to 125bps Bonus on DSCR Loans! LendingOne is offering a Volume Incentive Bonus available until December 31st, 2023. Join the Preferred Broker Pricing Program and have access to Bronze, Silver, and Gold tiers with volume incentive bonuses based on funded loan production or number of loans funded. Earn 50bps, 100bps, or 125bps at each production level on DSCR Loans. LendingOne’s Third-Party Originations Channel is committed to providing mortgage brokers opportunities to increase their revenue and grow their bottom line in the DSCR market. Call us today to learn more: 866-794-0937 or visit our website.”

STRATMOR’s MortgageCX and Encompass

STRATMOR Group just announced that its revolutionary Customer Experience Strategy program, MortgageCX, is now seamlessly integrated with Encompass. MortgageCX is a full-service customer experience advisory offering leveraging STRATMOR’s industry expertise, peer benchmarking data, and the lender’s own customer feedback to transform the customer experience and ignite revenue growth. Contact STRATMOR for more on the MortgageCX program, and join STRATMOR’s Customer Experience Director Mike Seminari on the next episode of ICE Mortgage Technology’s “Breaking the ICE” this Thursday, Sept. 14 at 10 a.m. PT. Mike and Eric Kujala, VP of Product Marketing, ICE Mortgage Technology will discuss CX in the mortgage industry and separate what you thought you knew from what you need to know to transform your CX strategy into a powerful competitive advantage.

Events and Sponsored Webinars

MeridianLink® presents Next-Gen Mortgage Lending, The Digital Reality of the Housing Market. Join us on September 12th for an ACUMA-sponsored webinar where we’ll explore the intricacies of millennial and Gen Z homebuyers. Why are these generations integral to your mortgage success? What barriers are they facing in becoming homeowners? How can mortgage lenders help? Register for this webinar and discover how your financial institution can start facilitating a more valuable, personal relationship with your borrowers.

Discover the latest industry trends that are influencing mortgage servicers and lenders. Designed specifically for CEOs, CFOs, COOs, and other top leaders in the mortgage industry, this is a must-attend opportunity. Hosted by Servbank, our panel of industry experts will delve into the current state of the mortgage industry. In addition, we will cover essential subservicing key performance indicators, how to handle borrower complaints, and the technologies that are crucial for delivering an exceptional borrower experience. We will also address servicing operational risks and the biggest challenges faced by subservicers in their operations. Don’t miss out: register now!

CONNECT WITH SAGENT @ #NAMMBACONNECT2023. Kicking off mortgage event with NAMMBA is a perennial fave. Join a few of Sagent’s teammates (Michele Mursten, Anne Hurtubise, Cheryl McKenzie, Shelli Girard, and David Doyle) this week (9/14-9/16) where there will be multiple opportunities to talk shop. Say hi to the team at booth #307 during the event, then be sure to mark your calendars to hear from Cheryl during College Day (9/15 @ 11:15 AM) where she’ll share a glimpse of what it’s like to be part of the future of servicing here at Sagent. And, most definitely, don’t miss Shelli’s fireside chat with ServiceLink’s Antonio Little (9/15 @ 4:15 PM) where they’ll unpack the impact of mortgage tech on today’s borrowers, and more! You won’t want to miss out on any of these opportunities. For more information, click the link. Hope to see you all there!

In a Joint Release, Four federal agencies announced they will host a roundtable discussion September 12, at 3:00 p.m. EDT regarding the availability of special purpose credit programs (SPCP) to help meet the credit needs of eligible individuals. The event will be open to the public via livestream.

Tuesday the 12th is the next Mortgages with Millennials with Kristin Messerli and Robbie Chrisman, and sponsored by National MI. Tune in every Tuesday at 10AM PT to the weekly video show designed to empower mortgage professionals to tap into the millennial market. This show demystifies the psychology of first-time homebuyers and offers strategies to win more market share with a key segment of the market. Sign up for a weekly reminder with the link to join and a sneak peek into the next episode.

On behalf of all at the Originator Connect Network, they’re thrilled about the return of the California Mortgage Expo in Oakland on Tuesday, September 12 (with an optional, FREE, live NMLS class on Wednesday, September 13. This is the ONLY conference in the Golden State where EVERYTHING is free to you.

Are you looking to originate or understand more about VA loans? Join MBA of Eastern PA. For a live 2-day session on Originating, Processing and Underwriting VA loans. Led by instructor Marianne Collins, President of the Government Lending Training Division of Diehl Mortgage Training and Compliance, September 12th and September 14th from 1:00-5:00PM. Members of the MBA of Eastern PA get a $50 discount. Email info@mbaepa.com to get your code.

It’s time to register for the New England Mortgage Bankers two-day Conference, September 13-14 in Portsmouth NH. Multiple venues all within walking distance for a new NEMBC experience.

National MI upcoming September 2023 webinar sessions: How to Plan & Attack the 4th Quarter with Dr. Bruce Lund – September 12th at 1pm ET, Questions That Build Trust, Credibility, and Increase Conversions with Nancy Bleeke – September 13th at 1pm ET, Next Level Communication with Rebecca Lorenz – September 19th at 1pm ET, and High Performance Teamwork with Andrew Oxley – September 21st at 2pm ET.

Looking for more in-depth commentary on weekly mortgage news? Register here for “Mortgage Matters: The Weekly Roundup” presented by Lenders One. Every Wednesday at 2:00 PM EST/11:00 AM PT is a dive into a range of mortgage-related topics, including market trends, interest rate fluctuations, innovative mortgage products, and industry advancements. Robbie and Rob will bring a unique mix of age perspective, expertise, and charisma to the screen, ensuring that the information is not only educational but also entertaining.

Discover winning strategies to navigate market volatility and elevate your brokerage business in an insightful webinar, presented by A&D Mortgage’s Max Slyusarchuk, CEO, and Michael Pearson, SVP Business Development. Register for “Navigating Volatility: Broker Strategies for Success” and learn actionable insights to secure your financial growth,

September 12th, 10:00 AM (PDT)

Hear from HomeFree-USA’s Center of Financial Advancement for an exciting webinar, September 13th, 11:00–12:00 (PDT), learn how they are empowering underrepresented students to gain access to financial education, career opportunities, mentors, and internships in the mortgage industry. Learn more about California MBA’s Diversity, Equity and Inclusion Committee.

The Virginia Mortgage Bankers Association will hold its annual convention starting Wednesday, September 13th through Friday, September 15th at the Marriott Virginia Beach Oceanfront. Please see the link below for registration information.

CRA Lenders Forum on September 14th, 10:00 am – 11:00 am at StL REALTORS Conference Center, 12777 Olive Blvd., Saint Louis. Panelists include Joe Bayer Jr., Mortgage Banker Association, Ulysses “Deke” Clayborn, Regional Administrator of U.S. Department of Housing and Urban Development (HUD), Robert Engelman, Freddie Mac, James Heard, St. Louis Field Office Director at HUD, Chris Krehmeyer, Beyond Housing, and Mellissa Kohen, Metropolitan St. Louis Equal Housing & Opportunity Council (EHOC).

Optimal Blue’s Hedging 101 webinar is back by popular demand, September 14th at 10:00-11:00 PDT. Whether you’re considering a transition to mandatory or you’re already hedging, you won’t want to miss this highly informative and directional webinar. Join industry experts to discover how to manage your loan pipeline, mitigate risk, and optimize profitability, essential skills in today’s competitive mortgage landscape.

Friday the 15th is The Mortgage Collaborative’s Rundown covering current events in the mortgage market for 30-45 minutes starting at noon PT in “The Rundown”.

Capital Markets

Experience matters, especially when it comes to your hedge advisor. Along with top-notch technology innovations, Vice Capital Markets provides experienced, veteran traders to help navigate all market conditions. At Vice Capital, the average trader has over 10 years of experience, ensuring you get the best advice for your pipeline management and loan execution. Our traders and hedging tools have managed pipelines through many volatile market cycles while maintaining and preserving gain on sale expectations. Reach out to Chris Bennett or Troy Baars today for a frank discussion on best practices for trading in today’s market, or schedule a meeting with Troy in person at MBA Annual next month.

While the Fed is largely considered to be nearing the end of its hiking cycle, the “terminal rate” is still up for debate. The economic calendar this week will also feature updates on retail sales, producer prices, and jobless claims. Federal Reserve speakers are in a blackout period ahead of the FOMC meeting scheduled for September 19-20, which could give the economic reports extra weight.

This upcoming week will be dominated by the Consumer Price and Producer Price (aka, inflation) reports that will help shape views on how close the Fed is to ending its rate hikes. There won’t be any “Fed speak” ahead of next week’s FOMC meeting. In addition to those inflation reports, retail sales and consumer sentiment will also be released. We learned yesterday that U.S. consumers’ inflation expectations were mostly stable in August, but households grew more concerned about their finances and more pessimistic about the job market.

Today’s economic calendar is under way with NFIB small business optimism for August (). Later today brings Redbook same store sales. And after yesterday’s $44 billion 3-year note sale met decent demand, today brings reopening results from $35 billion 10-yr Treasury notes. We begin the day with Agency MBS prices unchanged from Monday afternoon, the 10-year yielding 4.28 after closing yesterday at 4.29 percent, and the 2-year at an even 5.0 percent.