While here in Denver I received an email. “Rob, does what’s going on in Florida impact lenders?” I had to figure out if the author was asking about Disney/DeSantis, new Florida Man news, climate change, or insurance issues. Florida has a lot of cool things: manatees, Dry Tortugas National Park, Epcot Center, and cigar rollers in Tampa who do parties. Unfortunately it now has an additional insurance fee, as Florida has imposed a 1 percent “emergency” fee to property insurance premiums due to property-insurer insolvencies. Lenders in Florida often mention the Agencies, including HUD, and loan amounts. More specifically, many people living in Florida (“locals”) couldn’t buy their own homes due to wages versus values. Many of the Florida home loans that LOs have crossing their desks are now true jumbos. Buyers don’t get much in Tampa for $700k, and eastern Florida is worse. The loan limits are out of adjustment for the locals. (Today’s podcast can be found here and is sponsored by LoanCare, a Fidelity National Financial (NYSE: FNF) division and award-winning developer of the most sophisticated mortgage servicing portfolio management tool, LoanCare Analytics, built to support MSR investors with a focus on customer engagement, liquidity, and credit risk. Today’s has an interview with MonitorBase’s William LeBaron on borrower retention and leveraging contacts to improve volume.) Lender and Broker Products, Services, and Software Are you a mortgage leader looking to lower costs and make your teams more efficient? Matic, a home insurance platform built for the mortgage industry, helps lenders and servicers reduce friction for processors, speed up loan closings, and improve customer happiness and retention. Through a digital marketplace of 40+ top insurance companies, you’ll delight your borrowers with value and savings and even make life easier for your loan teams. Plus, mortgage enterprises can add a passive revenue stream with little to no lift. Want to learn more? Book a demo with our team of mortgage experts to learn about partnerships.
Source: Mortgage News Daily
