Things change and time passes. A little more than three months ago we “fell back” and now we have less than a month until most states in the U.S. change their clocks again (spring ahead). Less than two months ago, Ohio’s Community Savings Bancorp was purchased by Double Bottomline Corp., led by Evan M. Stone, President and CEO, and by rumored other entities in residential mortgage banking. Evan’s a good guy, likes being busy, and likes making a profit, so why not be the Co-founder and CEO of Champions Funding LLC TPO along with New American Funding’s Rick and Patti Arvielo? “As a Community Development Financial Institution, Champions Funding LLC is an institution that provides non-traditional access to mortgage financing… We are able to empower the dreams of diverse homeowners and fulfill our mission of serving underserved communities!” Hey, profit margins for CDFI loans are rumored to be near five points! Think Quontic, an “Adaptive Digital Bank.” “As a U.S. Treasury certified CDFI, Quontic’s mission is to provide non-traditional prime mortgage financing to low-income households, small business owners, immigrants, and other diverse borrowers. We base our underwriting decisions upon character, credit, equity, and the borrower’s overall circumstances.” Lenders of all types are being squeezed, even Consumer Direct, and especially wholesalers: Hometown Equity Mortgage, aka theLender, sent “due to unforeseen market conditions, will be unable to honor locks on NONI Business Purpose Loans locked on or prior to 2/4… you will have to relock on or after 2/15 at current market.” Interesting.