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MLO Jobs; HELOC, Renovation, Jumbo, Sales Products; New Correspondent Investor for Non-QM and QM Loans

Posted To: Pipeline Press

Why do all underwriters have soft hair? Because they over-condition! (How do your underwriters feel about bitcoin? Brokers up in Canada are now accepting eCurrency .) Underwriters are charged with analyzing the 5 C’s of credit (character, capacity, capital, collateral, and conditions) and hope that none of their borrowers go bankrupt. Surprisingly, bankruptcy filings by consumers under Chapter 7 were down 22% last year , despite COVID, compared with 2019, while individual filings under Chapter 13 fell 46%. After holding above 50,000 filings a month in 2019 and in the first quarter of 2020, bankruptcy filings have remained below 40,000 a month since last March when the pandemic hit. Say what you will about it, I am sure the stimulus money helps. The credit “black box” is good…(read more)

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