At the Ides of March, inflation is pervasive. Today rumors are swirling that Tom Brady ended his retirement because of not being able to afford to retire given the price of gasoline (more in Capital Markets section below), and I head to the home of Holiday Inn: Memphis, Tennessee. (Yes, the title of the song is a little misleading; it spot-on focuses on Tennessee.) Millions in China have re-entered COVID lockdown, once again impacting the supply chain. Russia continues to batter Ukraine, with its terrible loss of human life, impacting the worldwide price of oil and other commodities. We’re watching it all happen in real time, through the use of technology. In this country, Census Bureau construction surveys (brought to you since 1959) are being upgraded with satellite images to provide instant updates on projects at every stage of construction from start to finish down to the county and metro level for the first time. The changes will modernize nearly every aspect of the construction data the Census Bureau releases, including New Residential Construction, one of the most timely and leading official measures of the current condition of the U.S. economy. The first estimates from a new sample design were published February 17, and the local and county level estimates from the redesigned Monthly Building Permit Survey were published for the first time February 24.  Lender and broker products & services Last month, Freddie Mac announced the launch of its Loan Product Advisor® (LPASM) verification of income (VOI) solution, which allows the 93% of Americans paid via direct deposit to authorize lender assessment of income using direct-source bank data. The culmination of years of lender-informed development, high adoption of Freddie Mac’s technology tools has been proven to deliver substantial cost savings for lenders to the tune of $2,200 per loan. FormFree is proud to be one of the first authorized report providers for this revolutionary solution, and sees this advancement as an opportunity to make the income verification process easier, safer, and more inclusive for everyone. Drop by booth #326 at ICE Experience to learn more about how FormFree’s support of Freddie Mac’s VOI initiative can help streamline the underwriting process and expand access to sustainable homeownership.

Published On: March 15, 2022 / Categories: Mortgage News /