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Ops Jobs; QC, Marketing, VOE Tools; Primer on Credit Availability

Posted To: Pipeline Press

I don’t know exactly when it happened, but somewhere along the line my dog learned the noise the cheese grater makes when I pull it out of the drawer. (Taking out the vegetable peeler doesn’t elicit quite the same response.) It appears that anyone working in their company’s portfolio retention department for refinancing their servicing book quickly develops the same innate sense of knowing whether a loan is do-able or not. (No, they’re certainly not dogs!) Part of that decision is based on pricing, and we were reminded of that in August with the FHFA’s directing Freddie and Fannie to implement a .5 fee. It is delayed, but not forgotten , and is already showing up on rate sheets for longer locks.) Lenders are in the manufacturing business (profit=revenues-expenses…(read more)

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