August 15, 2018
Kevin Brungardt is Chairman and CEO of RoundPoint Mortgage Servicing Corp., Charlotte, N.C. He has more than 23 years of broad executive leadership experience.
With the Baby Boomers heading into the sunset, are bankers and their organizations ready for a new Haight-Ashbury counterculture movement that will shape their businesses for the next 50 years? Innovation wouldn't save profitability if there is a failure to address foundational shifts.
Ken Richey founded Richey May & Co., Englewood, Colo., in 1985 and currently leads the firm's mergers & acquisitions services for the mortgage banking industry. He recently transitioned from the role of managing partner, where his primary responsibilities included leading firm growth and supporting the firm's partners in their leadership, management and technical problem-solving efforts.
Our chart this week features unemployment rates by educational attainment, as of the Bureau of Labor Statistics' July Employment Situation report.
Christine Beckwith, co-author with Jessica Peterson of Clear Boundaries, Every Business Woman's Essential Safety Guide, talks with MBA COO Marcia Davies about what women can do to protect themselves when they find themselves in a potentially dangerous situation.
MBA Chief Economist Mike Fratantoni discusses rising interest rates and the lack of housing inventory whilst giving us his outlook for the mortgage industry thru 2018.
Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan breaks down the MBA Weekly Applications Survey for the week ending Aug. 3.
Nearly a year ago, the Mortgage Bankers Association collaborated with HomeFree-USA, Wells Fargo and Freddie Mac to create The Center for Financial Advancement, focusing on career opportunities and financial education at Historically Black Colleges and Universities. This summer, Nicholas Whiteside, a sophomore accounting major at Fisk University in Nashville, Tenn., became the first student to serve an internship through the program--right here at MBA.
The Mortgage Bankers Association's latest Washington Update features MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, who discusses passage in Congress of a four-month extension of the National Flood Insurance Program; an omnibus appropriations package passed by the Senate; and the final state to pass the Uniform State Test for mortgage loan originators.
The problem is that most lenders haven't yet implemented full digital mortgage technology. Those who think otherwise have been sold "fool's gold." Our industry has been hoodwinked into believing that by offering a digital loan application--and perhaps even enabling loan officers to co-browse with borrowers to help them fill out form fields--we are "digital mortgage ready."
It took the better part of four years, but our industry seems to have finally come to grips with the Qualified Mortgage rule and, more recently, what it takes to originate and securitize non-QM loans. But, as they said in a certain summer blockbuster movie, "just when you thought it was safe to go back in the water," the Bureau of Consumer Financial Protection may be considering "making waves" about QM.
This past May, the industry came together in New York City for the Mortgage Bankers Association's National Secondary Market Conference & Expo. Some key takeaways will give you a quick update of what's happening in the mortgage world.
LRES Corp., Orange, Calif., promoted Jill Haro to senior vice president of corporate administration.