Vaultedge newsletter

By Murali from Vaultedge

I write about the future of mortgages, real estate and automation.

I write about the future of mortgages, real estate and automation.

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Vaultedge newsletter - Issue #32

Dear Friends, Colleagues & Clients:Hope you all had a great Labor Day weekend. Do you know that US is probably the only country that celebrates labor day in September. In most countries it is celebrated on 1st May. Growing up in India, that meant no extra…


Vaultedge newsletter - UWM to accept bitcoin. Makes sense or is it just vanity?

Dear Friends, Colleagues & Customers:Do you think any of your borrowers would fancy paying their mortgage payments in bitcoin? United Wholesale Mortgage seems to think so. UWM announced plans to accept crypto currency for home loans. They said that they w…


Vaultedge newsletter - Findings from the largest survey of borrowers

On the Originations side, CFPB and FHFA published updated loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO). The data provide insights into borrowers' experiences obtaining residential mortgages. While the da…


Vaultedge newsletter - Foreclosure moratorium ended. What now?

Dear Friends, Colleagues & Customers:In the previous weeks, we wrote about the foreclosure moratorium imposed by the federal government coming to an end. Well, the moratorium officially ended on 31st July. So what next?An estimated 1.75 million homeowners…


Vaultedge newsletter - Beautiful Data Visualizations

Dear Friends, Colleagues & Customers:I am a big sucker for Data Visualizations (DV). We all have dabbled with graphs/ charts in our school and at work and they are of course one form of DV. But modern software and techniques now enable to do lot more than…


Vaultedge newsletter - Good week for the mortgage industry

Dear Friends, Colleagues & Customers:Let us start this newsletter with some good news. Fannie Mae and Freddie Mac announced that they will be dropping the mortgage refinance fee, lowering costs for borrowers. They were charging lenders a 50 basis-point fe…


Vaultedge newsletter - Is AI bound by mortgage regulations?

Dear Friends, Colleagues & Customers:Last week MBA sent an interesting letter to several federal regulatory agencies including CFPB to clarify how existing fair lending and the Equal Credit Opportunity Act adverse action notification requirements apply to…


Vaultedge newsletter: How BSI Financial automated loan/MSR boarding

Dear Friends, Colleagues & Customers:First of all, Happy Independence Day. Last year it was a subdued affair. Now with about 150 Mn Americans vaccinated, the holiday looks more like it used to: fireworks, family gatherings, barbecues and more. Hope you al…


Vaultedge newsletter - Happy Father's Day.

We were driving our kids to the doctor earlier this morning and my wife asked our 10 year old twin boys if they wished me on Father's day. Both of them responded in chorus but with zero sincerity, Happy Father's Day. I thought I will try my luck and asked - …


Memorial Day trivia

In one memorable scene from 'A Few Good Men':Lt. Sam Weinberg (played by Kevin Pollak) asks: Why do you like them so much? To which,Lieutenant Commander JoAnne Galloway (played by Demi Moore) replies: Because they stand on a wall, and say "Nothing is going to…


Rocket employees heading back to the office

Dear Friends, Colleagues and Customers:The best news I read all week is that Rocket Companies Inc.'s employees in Detroit will begin returning to work downtown starting June 7. Rocket employees 19,000 people in Detroit and they are being very smart about brin…


Retail origination profits back to pre-2020 normal

Mortgage industry had its best year in 2020, both in terms of volumes and profits. As per MBA performance report, retail lenders on average earned 155 bps in profits (as % of production volume) in 2020. Compared to this, the average profit for the previous fo…


How you can help your colleagues & friends in India

Dear Friends, Colleagues & Clients:Just when we thought that we turned a corner in our fight against Covid, it reared its ugly head again. Covid cases in India have shot through the roof, with daily cases crossing 300,000. Along with the cases, the number…


Is Big Data going to disrupt the Mortgage industry?

Dear Friends, Colleagues & Clients:Is Big Data going to disrupt the Mortgage industry? I don't have an answer to that question. But I can say that technology is going to disrupt all industries. Now that may sound like a very generic statement, and it is i…


Mortgage lender profits are crashing.

Dear Friends, Colleagues and Clients:MBA just published the quarterly performance report for Q4 2020 and it does not look good at all. But the bigger worry is not about Q4 numbers, it is that - the numbers are a sign of things to come.Profit margins for indep…


Vaultedge newsletter - Jerry Maguire or Mike Lyon?

Early this year, New York Times published an article with a thought provoking title - Why Markets Boomed in a Year of Human Misery? To quote from the article - "It’s a macabre spectacle. Asset prices keep reaching new, extraordinary highs, when around 3,000 p…


Vaultedge newsletter - Secret behind Freedom Mortgage's success

I am super excited to announce the launch of our podcast series- Mortgage Vault. In this podcast, we will be interviewing top mortgage industry leaders and get their point of view on where the industry is headed, what are they doing to stay ahead of the curve…


Vaultedge newsletter - Issue #15 - Caught off guard by the rise in lumber prices?

Hope all the folks in the Lone Star State Texas are fine. Take the necessary precautions, enjoy the snow while it lasts and don't blame clean energy for the power outage. Yes, I too am stumped by some commentators blaming the 10% clean fuels in the overall en…


Vaultedge newsletter - Issue #14 - Mortgage servicers, don't neglect your lending business.

The Buccaneers won the Super Bowl last night. It was a one sided game, with Tom Brady helming the underdog Tampa Bay Buccaneers to a 31-9 rout of the defending champion Kansas City Chiefs. I am sure many of you would still have found the game interesting. But…


Vaultedge newsletter - Issue #13 - Merry Christmas & more

It's hard to believe - it is already Christmas 2020. It has been a strange year, to say the least. We have come to accept many restrictions that would have been unthinkable a year ago. Olympics postponed, Christmas downgraded, handshakes and hugs almost banne…