While brokers have taken note of UWM suing America’s MoneyLine for sending loans to Rocket and Fairway (remember UWM’s policy plainly stated last March), this week I head to Florida, which retirees humorously refer to as “God’s waiting room.” The state has its share of expected hot markets for 2022 per Zillow, as does the rest of the Sunbelt. Apparently, people in the northern climes are weary of the yearly weather cycle, and, as usual, expect to establish residences to the south. Throughout our lives we go through many cycles. And who says we’re not in a cyclical business? Remember in the not-too-distant-past when lenders were pricing rates to “shut off the volume spigot” due to low rates? Last week U.S. Treasury prices fell with the 10-year yield briefly topping 1.93 percent, jumping from about 1.5 percent at the start of the year, and the 2-year Treasury is up 58 basis points since 1/1, as the Federal Reserve has signaled a more aggressive fight against inflation. Even home ownership goes through cycles, although that is pretty steady now: The U.S. Census Bureau says the nation’s homeownership rate was essentially unchanged through 2021, hovering around 65.5 percent. (Today’s audio version of the commentary is available here and this week’s is sponsored by MCT and its hedge advisory division, pairing industry leading experience with award-winning technology to assist you in locking, coverage, best execution, and reporting. Today’s features an interview with Peter MacGillis, SVP of Operations at Universal Component Lender Services, or UCLS, on how the company offers lenders more control over their servicing.)

Published On: February 7, 2022 / Categories: Mortgage News /