Special Update: Fed Meeting

2017-12-20T17:34:11+00:00 September 14th, 2015|Categories: Special Update|Tags: , , , , , , , , , , |

Fed day is coming up on Thursday. The Statement will be released at 2:00 ET, and Fed Chair Yellen’s press conference will follow at around 2:30 ET. Fed members appear divided about raising the federal funds rate at this meeting. Investor expectations are mixed as well. With no apparent consensus, whatever the Fed decides will likely cause a significant reaction in the markets. More important than the decision about hiking rates may be what investors learn about the Fed’s view of the economy and how that may influence future Fed policy.  What impact will this Fed meeting have on mortgage rates? The answer is not at all clear. It will depend on how the Fed’s decision and comments alter investors’ outlook for future Fed policy.  

Blog Talk Radio Show October 3, 2011: Dire Predictions

2017-12-20T17:34:14+00:00 October 6th, 2011|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , |

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 August 29, 2011: Distress Servicing Conference

2017-12-20T17:34:15+00:00 August 30th, 2011|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , , |

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 January 24, 2011: Increasing Net Worth Requirements

2017-12-20T17:34:15+00:00 January 31st, 2011|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , |

You are an investor and you have money to invest.  Do you invest it in the mortgage industry?  Those of us who have been here and who have been beat up over the last few years would probably think twice about doing so.  We might think about all the rule changes and all the regulations and all the buy backs.  We might convince ourselves this is not the right place to invest our money.  But there is a lot of money out there that thinks the mortgage industry is a good place to be invested.  Let's consider some of the positives that they see.  Margins are high, competition is shrinking, good service is rewarded, loan quality has never been better, and collateral values will unlikely fall further.  Increasing net worth requirements over the coming months will drive even more competitors from the industry.  Those who are left in the industry will be worthy competitors, but they will be honest competitors.  As many independent mortgage bankers realize the need to raise new capital they will begin to talk to the investment and will consider giving away substantial percentages of their company to raise the capital.  Before they do so, they might [...]

Blog Talk Radio Show Summary September 27, 2010: Loan Officer Compensation

2017-12-20T17:34:15+00:00 September 28th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , |

The new rules which beginning April 1, 2011 will govern how loan originators (LO or LOs) are to be paid have been the topic of much discussion lately.  There seems to be as many opinions as there are people and there are as many unanswered questions as there are answers.  To try to help bring clarity to the situation and to try to address what is known, Tony Musgrave, mortgage industry veteran and practicing lawyer, joined the show today.  Tony’s general advice on this issue is to accept that change is coming and to begin to prepare for it.  He said that when considering the new rules, first consider where they came from.  The new rules are a result of political and public perception that the old compensation rules incented LOs to take advantage of borrowers and to put them in loan products and at loan rates which were advantageous for the originator, but not necessarily for the borrower.  Tony’s advice is to interpret the new rules with this perception as the basis for your new policies. What is known is that a loan originator cannot be paid an amount that differs based on the terms of the loans he [...]

Blog Talk Radio Show Summary September 13, 2010: Business Strategies through the New Year

2017-12-20T19:52:06+00:00 September 28th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , , , , , , |

Having a strategy and a plan to implement that strategy is always important.  For the mortgage industry, it is  even more important now as the consequences from regulatory changes are likely to change the origination landscape significantly.  Implementing the regulatory changes will take considerable effort in retooling systems, training staff, and monitoring for compliance.  All this will come with a price tag.  Some companies will choose to get out before the changes are to be implemented.  Others will choose to join firms that have the resources to implement the changes.  Some firms will implement policies and controls based on the strictest, most conservative interpretation of the new regulations, and others will take a more common sense approach.  All this is said to support the argument that over the next year or so we will see considerable movement within the industry.  Firms with capital, systems and support in place will be well-positioned to benefit from the movement. So if your strategy is to profitably grow your origination business in a compliant manner, you should have a tremendous opportunity in the coming months.  Your plan should include building capital to pay for the cost of change and to support larger volumes, employing systems [...]

Blog Talk Radio Show Summary August 30, 2010: The Changing Face of Real Estate

2017-12-20T17:34:15+00:00 September 9th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , , |

This week’s guest on Lykken on Lending was John Tuccillo, noted economist and former Chief Economist for the National Association of Realtors.  John provided his opinions on the state of the economy and housing.  According to John, the chance of not having a double dip recession is greater than the chance of having one, but the difference in the likelihood has diminished over the last couple of months.  John expects economic growth to remain slow though 2011, growing at an annual rate of 1.5% to 2.5%.   Regarding housing, John looks to job creation as the driver to improve the housing market.  Without it, nothing the government or the Fed does will create sustained improvement.  This year’s home buyers tax credit was certainly helpful to stimulate activity at a time when we needed the activity, but we are seeing that it merely brought forward activity which most likely would have occurred naturally.  The housing market will come back, but will come back on a regional basis.  John said the real estate market should be viewed on a regional basis, not a national basis.  Some markets like San Francisco, which rose to unaffordable levels, will likely take a good bit longer to [...]

Blog Talk Radio Show Summary August 23, 2010: Winning Strategies for Mortgage/Real Estate Teams

2017-12-20T17:34:15+00:00 August 30th, 2010|Categories: BlogTalkRadio Podcasts, Uncategorized|Tags: , , , , , , , , , , , |

Tom Ninness, VP at Cherry Creek Mortgage, joined the show today to discuss Cherry Creek’s success in the Denver area at dominating the mortgage market.  He did not know their percentage market share, but he did know that Cherry Creek was by far the biggest mortgage lender in the area.  He explained that their success stems from a focus on the real estate agent.  They do not chase the refinance opportunity.  They focus on repeat business from Realtors and past home buyers.  The Realtor focus includes providing brown bag lunches where the Realtors can learn about the latest changes in underwriting guidelines or where they can get CPE credit.  They created websites where the Realtors can advertise their open houses.  In fact, over the National Open House weekend, Tom and his team advertised over 100 open houses in the Denver area for their Realtor contacts.  This seems simple and basic, but it works.  Try it. 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 [...]

BlogTalkRadio Summary July 23, 2020: Mortgage Rates Hit Another Low

2017-12-20T19:13:29+00:00 July 29th, 2010|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , , , , |

Mortgage rates hit another new low last week. The drop lower can be partially attributed to two words used by Fed Chairman Bernanke in his semi-annual testimony to Congress on the state of the economy.  The two words he used to describe the economy were “unusually uncertain.  This led investors to shift even more of their investable funds into the safety of government guaranteed mortgage-backed securities and Treasury Notes and Bonds.  The added demand for MBS drove prices higher and rates lower.  This occurred at a time when all measures of inflation indicate that inflation is very low and should not be a real concern for a long time.  The combination of uncertain economic growth and very low inflation are the perfect environment for low mortgage rates. 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 [...]

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