Daylight Saving Time for much of the nation springs up Sunday morning, leading to plenty of grousing on Monday. What else is going on? “Please listen carefully, as our menu options have changed.” We’ve all heard that recording countless times when dialing a business. As an industry, our menu options have changed, or at least shifted. We all knew rates wouldn’t be in the 2’s forever and that refi burnout would take place. In our biz, lenders and MLOs continue to pivot to a purchase-centric focus. Independent mortgage bankers are warily watching CRA developments around the nation, which are spelled out in MCT’s Review, by Robbie Chrisman. Oh, and are we headed for an inverted yield curve? Due to the work from home (“WFH”) shift, a survey shows nearly 19 million more people want to move! The rise in oil prices and the flow of money is causing Texas laborers to move from building houses to working the oil rigs in the Permian Basin. Wealthy Russians are flocking to Dubai as the West tightens sanctions. Tesla orders are surging. And over a longer period of time, the gap between the haves and have-nots is continuing to widen given the appreciating housing market. (Today’s audio version of the commentary is available here and this week’s is sponsored by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender.) Lender and Broker Products and Services A recent independent study conducted by MarketWise Advisors, LLC. found that ICE Mortgage Technology’s hybrid eClose solution, Encompass® eClose, saves lenders an average of 70 minutes per loan and two days off loan cycle times. With Encompass eClose, lenders can provide a better experience for borrowers and a single workflow for users by leveraging automation. As hybrid eClose, eNote, and RON technology adoption rises, the financial benefit of implementing a full eClose solution is expected to reach at least $500 per loan due to faster loan closing review and set-up, lower manual process costs and maintenance, as well as reduced errors. Read the full findings from this study.