MBSQuoteline Market Update with Lykken on Lending
Listen to this week's market update from yesterday's podcast: http://lykkenonlending.com/2017-12-11-podcast-market-update-with-joe-farr/
Market Update with Lykken on Lending
Listen to this week's edition of Lykken on Lending for the latest mortgage rate and market updates.http://lykkenonlending.com/2017-11-27-podcast-market-update-with-joe-farr/
Lykken on Lending Podcast
http://lykkenonlending.com/2017-11-13-podcast-market-update-with-joe-farr/
Blog Talk Radio Show February 6, 2012: Retaining Servicing
Is your company one of the many looking into selling their mortgage loan originations on a servicing retained basis? If so, the Lykken on Lending show today is one to which you should listen. Servicing experts Austin Tilghman and David Stephens, from United Capital Markets, were guest speakers. They explained that economics have forced many former release shops to consider retaining servicing. With so many correspondent lenders out of the market or having curtained their volume, there is very little competition for loans and as a result the correspondents are not having to pay full value for servicing. Even though the economics may compel originators to retain servicing, there are several complicating factors to be considered before doing so. One should consider the time it takes to become approved as a servicer with the agencies, the need to acquire sufficient net worth to qualify, employing servicing knowledge, and adapting to the changing cash flows of your business. Other non-economic risks need to be understood in making a decision to retain servicing, including the significant regulatory uncertainty surrounding servicing and that there is an unclear secondary market for servicing rights in the future. What is clear is that the servicing cash flows [...]
Blog Talk Radio Show November 21, 2011: HARP II Guidelines
HARP II guidelines were released last week and I was more confused than before. We are fortunate to have Alice Alvey to interpret what the guidelines say about who will be able to offer borrowers this new product and when. She too found it difficult, but this is what she thinks the guidelines say regarding who and when. First, the current servicer of a loan will be able to refinance their serviced loans beginning with applications taken after December 1, 2011. For these loans, certain provisions will not be available for settlements prior to January 3, 2012, so most loans will not fund until after then. Access to the HARP II does not open up to non-servicer originators (Open Access) until March 15, 2012. This is when the automated underwriting engines will be programmed to accept loans with the LTV waiver. Click PLAY to listen to the podcast of this week’s BlogTalkRadio/Lykken on Lending with Dave Lykken and MBSQuoteline's Joe Farr: Listen to internet radio with David Lykken on Blog Talk Radio MBSQuoteline supplies the essential market information necessary for effective decision making by Originators when assisting borrowers during the loan origination process, and for secondary marketing departments while managing pipelines. [...]
Blog Talk Radio Show October 3, 2011: Dire Predictions
Toni Moss, the President of AmeriCatalyst and EuroCatalyst, joined the Lykken on Lending radio show on Monday to provide her thoughts on the world economy. Toni’s experience and knowledge makes her opinions worth listening to. She has access to the finance ministers of most of the European nations, as well as in the US. Toni’s assessment of the world economy is that major changes are ahead. And they are not positive changes. She believes that a global economic collapse is underway and default by Greece on its sovereign debt, which she believes is imminent, will be the first of many dominoes to fall. Money and the power that goes with it is leaving the western nations, including the US, and moving east. She believes globalization has neutralized the effect sovereign entities have over monetary policy and that we are headed to the end of the fiat currency system (money backed by governments, not a physical commodity). She expects all this to be well underway in 2012. Wow! Toni paints a dire picture of our economic future. Her opinions are certainly due thoughtful consideration. I am not sure I know what you can do with the information. If what she expects [...]
Blog Talk Radio Show September 19, 2011: Considering a Change?
Jon Traver, a mortgage industry consultant, joined the Lykken-On-Lending show today to discuss the issues and considerations associated with loan originators and mortgage branches shopping themselves to interested suitors. Jon believes an LO or a branch manager is not doing himself justice if he doesn’t do this. He may find that he is in a perfect place, but he owes himself the effort to find out. Jon has created a matrix of 100 things originators and the intended suitor should consider when trying to determine if the two are a good match for each other. Examples include the sophistication of the suitor’s marketing resources. This varies considerably and to some LOs it is vitally important. To others not so. The size of the suitor and its degree of oversight over the LO’s functions can vary significantly and can be a great thing for one LO but not so for another. Jon’s bottom line is get to know the person to whom you are talking. Consider far more than the surface stuff like product and pricing. These can be important, but there is so much more to know. Click PLAY to listen to the podcast of this week’s BlogTalkRadio/Lykken on Lending with [...]
Blog Talk Radio Show September 12, 2011: Obama Refi Plan
Last Thursday evening in a speech before Congress President Obama announced, among other job creating ideas, a plan to make it easier for millions of people to refinance their loans. He provided no details. Since then other Administration officials have discussed the benefits of such a plan, but still with no details. Believe me, the devil is in the details. A massive refinance program could occur with just a few guideline changes by Fannie and Freddie. It would apply to only those loans already owned or guaranteed by Fannie or Freddie, but that is a lot of loans. Fannie and Freddie could eliminate LTV as a consideration. They could ignore debt to income limits. They could make it very easy. But they would need to waive the originator reps and warrants. Who would refinance a loan to earn a point or so, if they could be on the hook for a loan with a 175% LTV? The refi plan could go in a different direction. The Agencies could decide they will just modify their owned or guaranteed loans, leaving mortgage originators out of the process. I expect a formal plan will be put forth soon. It makes too much sense [...]
Blog Talk Radio Show August 29, 2011: Distress Servicing Conference
This week’s Lykken on Lending show discussed developments in the servicing of delinquent/distressed mortgages. Ed Delgado, CEO of the Five Star Institute was the guest speaker. The Five Star Institute holds conferences around the country specializing in Servicing Distress Loans. Their next conference will be in Dallas from September 11th through the 13th . With so many delinquent loans currently outstanding and so many loans in foreclosure or already ready foreclosed, sharing servicer successes and failures in this area is very important. This conference will be a great place to do this. More than 3000 are expected to attend. Click PLAY to listen to the podcast of this week’s BlogTalkRadio/Lykken on Lending with Dave Lykken and MBSQuoteline's Joe Farr: Listen to internet radio with David Lykken on Blog Talk Radio MBSQuoteline supplies the essential market information necessary for effective decision making by Originators when assisting borrowers during the loan origination process, and for secondary marketing departments while managing pipelines. For additional information or to sign up for a free 2-week trial subscription, visit www.MBSQuoteline.com or call (800) 627-1107. Tune in every Monday at 1:00pm(et) for up-to-the-minute information on interest rates, loan programs and "hot" industry news related to the mortgage industry. Dial: [...]
Blog Talk Radio Show Summary July 18, 2011: Future of Mortgage Banking (Part III); CFPB Update
The Consumer Financial Protection Bureau (CFPB) was the topic of discussion this week on Lykken on Lending. The CFPB is set to start business on Thursday of this week. It will do so without a Director, as President Obama has just announced his choice. The name Richard Cordray will likely be sent to the Senate for confirmation. His confirmation is not assured. But in defense of Mr. Cordray, confirmation of any one is unlikely without significant efforts by Republicans in the Senate to alter certain aspects of the CFPB. As was established in the Dodd-Frank Act, the CFPB is to be headed by a Director. The Republicans would like to change that to a five person commission. Also, as set forth in the Dodd-Frank Act, the CFPB receives its funding from the Federal Reserve System rather than from Congress. Senate Republicans want to see the CFPB funded by Congress so as to make the CFPB more accountable. The CFPB will be a very powerful regulator and as such both these Republican demands have substantial merit. Lets hope the President does not circumvent the nomination debate by making the CFPB Director appointment during the August recess. Click PLAY to listen to [...]