Posted To: Pipeline Press

Thank you to those who wrote commenting about the Yelp study showing that 164,000 businesses across our nation have closed since March . “Bouncing back” quickly from that is not likely, and at some level it impacts past and future borrowers, and meeting ATR requirements to fund loans. I was telling my cat Myrtle, “Teamwork makes the dream work,” knowing that it takes a lot of people to fund a loan. (Frankly, I have yet to see her correctly underwrite a VA loan.) I received this note from an operations manager from a well-known wholesaler. “Rob, are other companies have their ops people picked off?” Yes indeed. There’s a saying that “People go to where their comp plan takes them.” Owners of businesses want their employees’ comp plans…(read more)

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Source: Mortgage News Daily