Posted To: Pipeline Press

Someone once said, “A loss is not a failure until you make an excuse.” You can apply that to politics or to sports. Or to business. No company wants to lose a lock, and locks desks are beginning to see some attempts at renegotiations. Whether they are prompted by borrowers or brokers is of little consequence, but it does remind us that it is a one-way street. Few lenders would think of going back to a borrower in a rising rate environment and telling them, “Uh, sorry, we need to bump your rate up a little.” Although bouncing this morning, rates have indeed come down, and there is continued talk about the Federal Reserve’s role in the general rate environment. (The current STRATMOR blog is, “A Primer on What Originators Should Know about the Fed” .)…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Published On: July 9, 2021 / Categories: Mortgage News /