Broker and LO Scorecards, Escrow Mgt., Homebuyer Products; How Many Borrowers are at Less Than 4 Percent?

“The world is going to come to an end tonight at midnight. Tune in tomorrow to see if it did!” Sensationalist headlines or bad predictions are tiresome at best, misinformation at worst. There is actual news, however. For example, thank you to the Knowledge Coop’s Ken Perry who sent along the latest in the Matter of ICE and Black Knight. LOs and underwriters know that the Supreme Court overturned the Biden administration’s student-debt forgiveness plan which would have wiped off $430B in loans from the government's books, and people who worked hard to pay off their debt cheered. Although there are already some alternatives that are in the making, this carries huge implications for inflation, consumer discretionary spending, and the distribution of wealth in the U.S. In other news, the latest update on inflation in the U.S. is this week with June’s Consumer Price Index report. Economists forecast headline inflation to fall to 3.0 percent from 4.0 percent in May and core inflation to be reported at 5.0 percent from 5.3 percent in May. A CPI surprise could reset expectations on the direction of the Federal Reserve. The market is pricing in a 90 percent probability that the Federal Reserve will raise rates by 25 basis points at the July 25-26 meeting. (Today’s podcast can be found here and this week’s is sponsored by SimpleNexus, the homeownership platform that unites the people, systems, and stages of the mortgage process into one seamless, end-to-end solution that spans engagement, origination, closing, incentive compensation, and business intelligence. Hear an interview with Stavvy’s Kosta Ligris on the benefits of Remote Online Authorization (RON) and advances from Ginnie Mae's recently published All Participants Memorandum.)
http://dlvr.it/SryT1p

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