Lenders and vendors alike are emerging from Thanksgiving and looking ahead to which day they have off for Christmas in the U.S., the 23rd or the 26th. An informal Chrisman poll shows the 26th, but there is definitely a noticeable percentage who are taking both days off. It is good to keep things in perspective and appreciate what we have in the United States. Here in Mexico (yes, that Mexico; down here for a short visit) the daily minimum wage in pesos is $172.87 MXP (approximately $8.06 USD) for the countryside, slightly more in cities and tourist area. Yes, you read that correctly: 8 smackers. With a Gross Domestic Product of $1.4 billion, Mexico’s economy is about the same as Florida’s. Wages aside, in terms of interest rates, across the Atlantic, Ghana, which most people would be hard-pressed to identify on a map of Africa, the latest rate hike to combat inflation puts rates at a19-year high of 27 percent! Not a lot of rate and term refis there, that’s for sure. We don’t have it so bad. (Today’s podcast is available here and this week’s is sponsored by Candor Technology: Home of the One Touch Underwrite, supporting lenders from Point of Sale to Post Close QC, to reduce repurchase risk, increase underwriter productivity by 400 percent, and decrease turn-times by 10. Listen to an interview with The Money Source’s Johnny Spagnola on why customer experience is important in servicing.) Lender and Broker Products, Software, and Services Ranked by Fortune Magazine in 2022 as one of the 100 best Companies, Fortune 300 listing, and a history dating back to 1909, Mutual of Omaha has entered the Wholesale Mortgage Lending arena. Providing a variety of financial services, including Reverse mortgage and traditional mortgage products. In early March 2022, the firm announced the hiring of Colin Treend (President – Wholesale) and starting approving brokers in late April 2022 and are available to add as investor in Loansifter (upon request), ReadyPrice, and LenderPrice. Colin indicated, “This is a unique opportunity to leverage a world class brand and provide stable, consistent service and value in a market that has been treating brokers and their customers like raw materials in a manufacturing line. Mutual’s built-in advantages allow us to provide a consistently strong price, combined with world-class service and people, creating relationships and knowledge of your specific business.” If you would like to learn more, please click here.
Source: Mortgage News Daily