Social selling requires continual care and management, but it’s worth the investment of time, and effort when you’re using social to drive business results. A daily social selling routine helps loan officers in so many ways and managing a program doesn’t have to be overwhelming.
Category: News and Trends
Laird Nossuli of iEmergent: Neither Risky Nor Mysterious, SPCPs are Evidence-Based Lending
As someone who has been advising lenders on market strategy for years, I can say that developing SPCPs is neither risky nor mysterious when driven by sound data. Like any well-designed lending program, SPCPs require engaging in intentional, market data-based product design and performance evaluation — a practice that every lender could benefit from if it is not already.
MBA Education Path to Diversity Scholar Profile: Kimberly Phegley
Kimberly Phegley joined FirstBank in 2017 and currently serves as the company’s Chief Audit Executive. She is responsible for leading and managing an effective, risk-based audit strategy for all the bank’s businesses and corporate functions.
MBA Advocacy Update Sept. 19, 2022
On Tuesday, MBA led a coalition of real estate trade groups in a letter to the White House National Economic Council urging it to support reduction of mortgage insurance premiums for FHA loans. On Wednesday, the House advanced VA loan appraisal modernization legislation strongly supported by MBA. Also last week, FHA announced a delay of the mandatory effective date for its electronic appraisal delivery module.
Nearly 1/3 of Homes Bought All-Cash as Buyers Gain Upper Hand
Redfin, Seattle, reported nearly one-third (31.4%) of U.S. home purchases were paid for with all cash in July, near the eight-year high reached in February and up from 27.5% a year earlier. In a separate report, Redfin said higher interest rates have given home buyers the upper hand after several years of a “sellers’ market.”
Jason Doshi of Paymints.io: In the Battle against Margin Compression, Don’t Overlook These Opportunities
While lenders are doing their best to leverage new technology in the battle against cost and inefficiency, for many, the efforts are almost entirely an in-house effort. Considering that production of a mortgage lies in the hands of multiple entities—the lender, perhaps a mortgage broker, the title and closing company, the appraiser and the like—that may well be a mistake.
Sponsored Content from ACES Quality Management: Profit Retention Strategies for Quality Control Operations
Proper quality control reporting can be a compass for lenders in creating efficient and profitable mortgage businesses.
MBA Chart of the Week, Sept. 16, 2022: Home Purchase Applications by Loan Size
The housing market continues to face challenges from economic uncertainty, high home-price growth and volatile mortgage rates. MBA’s Weekly Applications Survey data show that overall mortgage application activity continues to trend lower, as refinances have quickly dried up due to rates rising throughout the year and hitting the 6-percent mark for the first time since 2008.
The Week Ahead, Sept. 19, 2022: The Fed, Housing Reports and What You Need to Know
Good morning and happy Monday! Time to gear up for a busy, busy week. Here’s what’s happening:
Closing the Racial Capital Gap
Enterprise Community Partners, Columbia, Md., said access to capital remains the biggest hurdle facing small-scale Black, Indigenous and other people of color real estate developers–and it suggests some solutions.