By Rob Chrisman
Posted To: Pipeline Press
Thank you to Carol Kimball who sent along this site of ” inexplicably terrible real estate photos .” My guess is that every underwriter has seen their share of them. I asked my cat Myrtle if she thought that the cost of producing a loan has gone up. She gave me a look that reinforced my opinion that she couldn’t care less. But plenty of lenders want numbers, and although regulators rarely consider the costs of regulations to an industry or the consumer, they should be aware of them. After all is said and done, the costs are passed on to borrowers, of course. For example, KBW’s research team in a recent piece points out that Stonegate Mortgage’s net cost to originate a loan and retain the MSR is 100 basis points. (This “net cost to originate” is revenue minus expenses, and does not include the…(read more)
Via:: Servicing/Processing Cost Per Loan Continues to Increase With Little End in Sight
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