Posted To: Pipeline Press

Fires in California, floods in Tennessee, hurricanes in New York, COVID hospitalizations seemingly everywhere written up by the press. The “fun” never ends. Here in Orange County, at the California MBA’s Western Secondary, the talk in the hallways is focused not so much on huge shifts, because it looks like Freddie, Fannie, FHA, and other programs will be with us for a very long time, but on fine-tuning operations to drive down the cost and time in processing a loan. Sure enough, STRATMOR’s Operations Workshops indicate appraisals were the biggest pain point. Data shows that 60 days is the new “must hit” turn time on refinances, whereas last quarter it was 90 days. STRATMOR’s anecdotal findings indicate that either borrower expectations are shifting…(read more)

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Source: Mortgage News Daily