Posted To: Pipeline Press

Fourth quarter already!? Was the third quarter of 2020 the best quarter ever to be in residential lending? Will the fourth quarter beat it? While much of our economy unfortunately languishes, “record breaking” has surpassed “unprecedented” on mortgage Zoom calls. LOs are “tonning it,” pipelines are full, margins plump. If you’re not making money in this environment, think about doing something else. And who wants or needs to offer the best rate on the street and overwhelm your already-swamped ops staff? Seasoned managers continue to focus on cash levels (knowing that warehouse & human capacity limit volume) while capital markets & accounting staffs eye best ex and cash management every day. On the large scale, as we start the 4th quarter, regulators…(read more)

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Source: Mortgage News Daily