There are a lot of topics being covered here at the MBA’s IMB conference. One of them is hedging, and if you want a primer on how lenders are protecting themselves from interest rate risk, here you go. Yesterday the MBA’s Marina Walsh observed what lenders are doing now to survive. In no order: reducing the cost of sales, revisiting existing office leases, taking advantage of predictive analytics, critically examining their business lines, ramping up new products or looking at geographic expansion, retaining servicing, further staffing adjustments, and reducing middle management. Take your pick, or do them all, but every lender is doing something as the days of raising margins to slow volume are long gone. In fact, many lenders who have retained servicing are selling it to maintain their cash flows, despite servicing income being a huge part of whatever profits were to be had in 2022. The mortgage servicing rights (MSR) market has opened 2023 with billions of dollars on the market, and more to come. (This week’s podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking. Today’s has Part Two of an interview with Keller Williams Scott Agnew on navigating through uncertain times and what the industry has learned since 2008.) Lender and Broker Software, Products, and Services Are you looking to become an approved Chenoa Fund lender? CBC Mortgage Agency is looking to bring on new lender correspondents in every state except New York. Visit here to increase affordable and sustainable homeownership with the Chenoa Fund down payment assistance program that has helped over 40,000 borrowers purchase a home.