Mortgage Minute: Election aftermath, FICO updates, hurricane risk mitigation strategies
Mortgage Professional America
Insider coverage of the real estate and mortgage industries, with innovation, tips and info you won't find in the press.
In today's Mortgage Minute
Pro Tips & Tactics | Actionable advice to boost leads, retain clients, and drive profits.
The bumpy market seen throughout this year means predicting the outlook for 2025 is no easy task. Chelsea Balak , vice president of operations and sales at wemlo? , believes taking a careful look at measures to keep costs under control – especially in the current market – is essential.
“That’s something that I’ve been talking to a lot of brokers about – look at those numbers and your profit and loss, and what you can cut out while continuing the service without having to spend the extra dollars.”
Delaying home purchases could cost your clients big. Tristan Kirk , CEO and managing partner of Citadel Mortgages in Canada and Simply Approved Mortgages in the US, reveals why today’s market conditions, despite challenges, might be better for buying than waiting for “the perfect time.”
The appraisal process is adapting to modern challenges, with new technology and regulatory shifts driving change. Clear Capital, LLC EVP shares insights on what brokers and lenders need to know to navigate these updates effectively.
Industry Pulse | Expert insights on market moves and what they mean for you.
The dust has settled on a momentous 2024 US presidential election campaign that dominated headlines for months and put two sharply contrasting plans for America’s future in the spotlight – and as a second Donald Trump presidency looms into view, attention in the mortgage industry is focused on what it might mean for the housing market.
Solving the housing crisis should begin with slashing red tape to address the sluggish pace of home construction and lack of supply, according to Dwell Mortgage CEO Shane Kidwell .
“There’s a significant portion of the cost of a home that’s just due to regulation. And so if Trump is actually going to drive deregulation… and if you can lower that cost, encourage builders, that would be huge for us here.”
Trending Now | This week’s must-read mortgage news – stay in the loop.
High-profile companies have pulled back from the city, but there seems little chance of a deep housing slump as activity continues to tick along. The slowdown is hardly an outlier among major housing markets across the country – and activity has remained steady even despite the milder current pace, according to Amanda Lombardi of Lombardi Lending Llc .
Specialty Highlights | Hot niche markets to watch: your guide to growth.
Strategies in a challenging market have proven strong preparation for next year, said Tom Davis , chief sales officer at Deephaven Mortgage .
Fair Isaac Corp. (FICO), the company behind the widely used FICO credit score, has raised its wholesale royalty fee for mortgage-related credit scores, stirring frustration in the mortgage industry. The Mortgage Bankers Association has voiced concerns over the rising costs associated with credit reporting for home loans.
As natural disasters increase, 穆迪分析 provides insights into how commercial real estate lenders can mitigate risks and strengthen portfolios in the face of hurricanes.
Mortgage Loan Originator and Career Builder at NEXA Mortgage 704-408-0196 NMLS 92931
1 天前Simply the cost is passed on to the consumer, there is no magic wand to make evaluating credit go away.
Question of the week: How do you see FICO’s price hikes influencing your lending process, and what steps are you taking to stay competitive?