Today is National Beer Day (beer humor below), which made last night Beer Day’s Eve. Here at the CMLA event the talk is not about all of the craft breweries in Denver, but instead a portion of the chatter in the hallways revolves around how lenders stack up on extensions and renegotiations. Compass/Black Knight has some stats for you. The talk also revolves around layoffs (including a new round from Better.com reported by the WSJ), and the stock prices of those companies that have “gone public” in the last few years. Whether it is Guild, UWM, Rocket, Finance of America, or loanDepot, some with distributed retail models, they are all near their all-time lows. Hopefully, no employees put all their retirement eggs in the one basket of their employer! The violent move higher in rates is a discussion topic, of course. Mortgage rates, usually based on a spread to Treasury securities, and with the talk of the Fed aggressively lightning its balance sheet (more in capital markets below) 30-year rates are suffering. And how ‘bout that flat yield curve? From maturities of 2-years out to 30-years, yields range from 2.48 percent to a high of 2.68 percent! (Today’s audio version of the commentary is available here and this week’s is sponsored by Optimal Blue, a division of Black Knight. Today’s has an interview with Mike Vough on how MSR valuation strategy is critical to the accuracy of the hedge model.) Lender and Broker Products and Services On this day in 2001, NASA launched the Mars Odyssey spacecraft. To this day, it maintains the record for the longest active spacecraft orbit around a planet other than Earth. Unlike launching the Odyssey, turning customer relationships into long-lasting financial friendships isn’t rocket science. However, it does require a shift in approach that prioritizes building trust and long-term borrower retention. With the average American taking up to 11 mortgage loans in their lifetime, there is a great opportunity for mortgage advisors and borrowers to build enduring relationships that benefit them both. Sales Boomerang shares the five best tactics that mortgage professionals can use to earn borrowers’ loyalty in its new eBook: “Be Your Borrowers’ Best Financial Friend.” Download the free eBook for borrower retention strategies that are out of this world!