Lykken On Lending

On June 8th, LES PARKER, Senior Vice President of LoanLogics, was my guest on the broadcast and we began to discuss what we can expect for our industry and housing in the second half of 2015.  While we covered a lot of ground, there was still so much that didn't get covered that I have asked Les to come back on to finish sharing his thoughts.  Les will be answering questions such as: How does China and the Asian markets factor into market conditions here in the US?What are the biggest threats to our industry in the next six-months?What role will technology play in this ever more complex world of mortgage lending?What origination channel(s) will grow or shrink and why?    Be sure to tune-in or download this important broadcast. Your host, David Lykken The Lykken On Lending podcast is created BY mortgage professionals FOR mortgage professionals to keep you current on industry news.

As we continue our "Mortgage Industry Update" series, I am excited to have back on the broadcast an old friend and industry veteran, GLEN CORSO, who is the Executive Director of Community Mortgage Lenders of America (CMLA).  On today's broadcast, we will be focusing on the segment of the market known as independent mortgage lenders/bankers.  We will be answering questions such as:   What is the overall outlook for independent mortgage lenders? Better or worse?Will the market share for independent mortgage lenders be growing or contracting?What are the primary driving factors that will be helping independent mortgage lenders?What are the primary driving factors that could be hurting independent mortgage lenders?Is this a good time to become an independent mortgage lender?If so, what does it take to become an independent mortgage lender? If you work for or considering working for an independent mortgage lender or even considering becoming an independent mortgage lender, be sure to tune-in listen to this broadca

We are almost halfway through the first half of 2015 and many are wondering what the second half of this year is going to look like, especially when it comes to interest rates and loan volumes.  I have invited my good friend, LES PARKER, Senior Vice President of LoanLogics, to return as my guest on this broadcast.  Les has been a guest numerous times before.  His market insights and forecasts of been amazingly accurate.  Les will be answering questions such as: Where will interest rates be by the end of the year?Will loan volumes be less if rates rise?What are the biggest threats to our industry in the next six-months?What role will technology play in this ever more complex world of mortgage lending?What origination channel(s) will grow or shrink and why?    Be sure to tune-in or download this important broadcast. Your host, David Lykken The Lykken On Lending podcast is created BY mortgage professionals FOR mortgage professionals to keep you current on industry news.

It wasn't that long ago that many were saying that WHOLESALE LENDING and the MORTGAGE BROKER were going to go the way of the dinosaur.  Today's   resurgence of the Wholesale Channel and those that participate in the channel are doing very well.  It is one of the great "come back" stories of our industry.   To talk about this, we have as our special guest, GREG MURRAY, CEO of Wholesale One™.  On today's broadcast, we will be discussing the following and much more:   How will the revitalization of the wholesale market benefit the industry overall?What will be some of the keys in your mind for brokers to succeed in the today’s market?Is a more purchase focused market a good thing for brokers? What is the key - or perhaps couple of keys – to succeeding in wholesale as a lender?Some brokers have begun operating as non-delegated correspondents.  Is this a good thing?  I encourage you to tune into this important broadcast and tell others to do so as well.  Encourage you to email me in advance of this broadcast any

It wasn't that long ago that many were saying that WHOLESALE LENDING and the MORTGAGE BROKER were going to go the way of the dinosaur.  Today's   resurgence of the Wholesale Channel and those that participate in the channel are doing very well.  It is one of the great "come back" stories of our industry.   To talk about this, we have as our special guest, GREG MURRAY, CEO of Wholesale One™.  On today's broadcast, we will be discussing the following and much more:   How will the revitalization of the wholesale market benefit the industry overall?What will be some of the keys in your mind for brokers to succeed in the today’s market?Is a more purchase focused market a good thing for brokers? What is the key - or perhaps couple of keys – to succeeding in wholesale as a lender?Some brokers have begun operating as non-delegated correspondents.  Is this a good thing?  I encourage you to tune into this important broadcast and tell others to do so as well.  Encourage you to email me in advance of this broadcast any

HAPPY MEMORIAL DAY... A special "thank you" to those who have made the ultimate sacrifice for our nation so that we can enjoy the freedoms we have today. On recent broadcasts, we have been providing information to help you, our listeners, not just prepare for TRID, but to provide you ideas on how you can use this change to differentiate yourself from your competition.   On this broadcast, I am airing an interview with DAVE SAVAGE, President and founder of Mortgage Coach, who has developed innovative technology to give loan originators and lenders tools to  more effectively explain the loan programs that a consumer, their customer, is considering for the financing or refinancing of their home.   Today's broadcast, Dave Savage answers questions such as: What are a few of the ways lenders can turn TRID preparation into an advantage?What are others doing to prepare for TRID?What are some of the biggest mistakes lenders are making as they prepare for TRID?How does TRID impact Realtors and how are some leveraging

To say the implementation of TRID is going to create a paradigm shift (a fundamental change in approach or underlying assumptions) is an understatement!  In order for YOU and YOUR company to remain competitive in a post-TRID world, you must find ways to become more efficient cutting as much as 5-days out of your workflow processes.  As Benjamin Franklin said, "If you fail to plan, you are planning to fail!”  So it is for those failing to plan ahead for when TRID goes into effect on August 1st of this year.  Those that planning ahead will have a competitive advantage!   Be sure to tune into today's broadcast to hear what YOU and YOUR company can do to prepare so you don't find yourself at a competitive disadvantage.   Created BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program styled “podcast” hosted by mortgage veteran, David Lykken. Joining the program each week is Joe Farr with a MARKET UPDATE, Alice Alvey providing a LEGISLATIVE UPDATE, Paul Muolo of

This is a rebroadcast of just the interview of DAVID STEVENS, President and CEO of the Mortgage Bankers Association (MBA) who was my guest on yesterday's weekly broadcast.  This is an interview that you will want to download, listen and share with your colleagues and industry friends. Here are the topics we covered: What is being done to stop excessive enforcement?What are the changes needing to be made to Dodd Frank rules?What is being done about issues related to the Safe Act & transitional licensing?What is the future of "Marketing Agreements"?How to work a purchase market? Created BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program styled “podcast” hosted by mortgage veteran, David Lykken and can be heard "live" each Monday at Noon Central or downloaded as a podcast at this website.

I have invited DAVID STEVENS, President and CEO of the Mortgage Bankers Association(MBA) to be our guest on today's broadcast.  In preparation for this broadcast, I asked David "What are the 'big boiling' issues facing our industry?"  I was encouraged when he said, "Dave, my focus is on how to get the rules right!" As the head of our trade association, the MBA, who lives and works inside of the Washington, DC beltway and as someone who has had the privilege of being in "the Oval Office" on numerous occasions advising the President of the United States on matters related to housing and housing finance, David has unique and special insights into so many issues facing our industry.  He truly has a perspective that few have and it is important that we be familiar with these issues.  So, as a result, we will be discussing the following issues in the "HOT TOPIC" segment of this broadcast: Stopping excessive enforcementNeeded changes to the Dodd Frank rulesIssues related to the Safe Act - transitional licensingMark

This is a REBROADCAST of just the HOT TOPIC segment from yesterday's broadcast!   No question that TRID is a game changer but how you approach this change could make a difference if TRID works to your advantage or to your detriment.  There's a select group of lenders out there who are turning TRID into an opportunity to differentiate themselves from their competition by reengineering their business processes thereby creating efficiencies resulting in shorter lending timelines.  In a world where mortgage lenders basically sell the same products at close to the same rates, giving consumers and realtors faster service in a post-TRID world could be a huge differentiator.   Tune into today's broadcast to hear how to make your business processes more efficent thereby shortening timelines to turn the new TRID regulation into an opportunity instead of an obstacle.  Sharing his expertise and insights on this important topic, we have as our special guest on the broadcast, Tyler Sherman, President and co-founder of Mo

No question that TRID is a game changer but how you approach this change could make a difference if TRID works to your advantage or to your detriment.  There's a select group of lenders out there who are turning TRID into an opportunity to differentiate themselves from their competition by reengineering their business processes thereby creating efficiencies resulting in shorter lending timelines.  In a world where mortgage lenders basically sell the same products at close to the same rates, giving consumers and realtors faster service in a post-TRID world could be a huge differentiator.   Tune into today's broadcast to hear how to make your business processes more efficent thereby shortening timelines to turn the new TRID regulation into an opportunity instead of an obstacle.  Sharing his expertise and insights on this important topic, we have as our special guest on the broadcast, Tyler Sherman, President and co-founder of Motivity Solutions.  Motivity Solutions is the leading mortgage business intelligence

This is a rebroadcast of the "Hot Topic" segment from the April 27th, 2015 broadcast regarding MBA's "Mortgage Banking Bound" program... http://events.mortgagebankers.org/MortgageBankingBound/default.html  Explaining this program, we had as our special guests, Jeff Schummer, VP of Education Development with the Mortgage Bankers Association (MBA) and Brendan Barry, Director of Business Development for the Morgage Banking Bound program.  Developed by MBA Education and taught by industry experts, Mortgage Banking Bound is a unique education and certification opportunity designed to provide exclusive insight into the field of mortgage banking. In just six 90-minute webinars, participants will gain a solid understanding of standard industry practices. Additionally, program graduates earn a certificate of completion from the only national association that represents the entire real estate finance industry, the Mortgage Bankers Association (MBA).  Please download, listen and share this very important topic with othe

Do you know what the average age of those in the mortgage banking industry?  It's older than you might think... at LOT older!  It is so important that we be actively recruiting and equipping the next the next generation of mortgage banker/lenders.  Joining us on today's broadcast to discuss this important topic, we have as our special guests, Jeff Schummer, VP of Education Development with the Mortgage Bankers Association (MBA) and Brendan Barry also with the MBA.  On January 22nd 2015, the MBA launched their "Mortgage Banking Bound" program for college students... https://www.mba.org/2015-press-releases/mba-education-launches-mortgage-banking-bound   This program offers students attending community colleges and universities the chance to learn from real estate finance industry experts, network with leading organizations, and access the latest industry information, job boards, career events, and educational offerings with an MBA Student Membership.  Be sure to mark your calendars to join us for this importan

PROGRAM UPDATE:   Due to a family emergency, Michael Fratantoni will not be able to join us today but we are fortunate to have Dr. Lynn Fisher, who serves as Vice President of Research and Economics of the Mortgage Bankers Association (MBA).  In this role, she is responsible for managing MBA's economic and mortgage originations forecasts and developing analysis on issues of importance to the mortgage industry.  We are honored today to have back as our special guest, Michael Fratantoni, Ph.D., the Chief Economist for the Mortgage Bankers Association of America.  For many mortgage lenders, 2015 has started off as a very good year, but what can we anticipate for the next three to six months?  Join us for today's broadcast as we discuss the latest economic data and trends.   Also, we will get an up on the recent MBA's Tech Conference in Florida and what we have to look forward to at the upcoming MBA National Secondary Conference in New York City in May. Created BY mortgage professional FOR mortgage professional

This past week, Vice President Joe Biden and Julián Castro, Secretary of the U.S. Department of Housing and Urban Development were out promoting homeownership for low income families and encouraging lenders to loosen credit standards.  After watching David Lykken appeared as a guest on FOX Business discussing this topic ( http://video.foxbusiness.com/v/4159595330001 ), many mortgage lenders wrote him saying they are FOR the loosening credit standards.  David asked and we will be discussing, "Wasn't it the loosening of credit standards that got us into the last housing crisis and resulted in the U.S. getting into the 'Great Reccession'?"    To put this all in perspective, Logan Mohtashami will be returning to the broadcast sharing his thoughts on this important topic.  You can read his latest blog on this topic at http://loganmohtashami.com/ (Logan Mohtashami | Financial Truth ).  He has recently been challenging the assumptions and assertions of many housing experts.  Tune in to today's broadcast to hear Log

With the new TILA-RESPA Integrated Disclosure (TRID) just four very short months away, there has been considerable discussion about vendor readiness and even some rumors about a possible CFPB delay of the rule.  While a delay is not likely, the MBA Tech Conference in Orlando had two sessions and a supersession to discuss friction points and issues surrounding the rule from its effects on pre-application to closing.  Furthermore, the MBA wrote a letter along with many other trade organizations to the CFPB asking for a grace period on enforecement and liability.  Ken Markison, the Vice President of the Mortgage Bankers Association of America (MBA), has been at the forefront in dealing with the CFPB and has just returned from last week's Tech Conference and will be giving us an update on the latest having to do with TRID.   Created BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program hosted by mortgage veteran, David Lykken. Joining the program each week is 

Each month, we take a break from having a special guest to have a "round-table discussion" with Alice, Andy, Joe and David to discuss the latest industry developments and that is what this broadcast is about.  For example, there are some updates related to the upcoming TRID implementation that we are hearing that are coming out of the MBA's Tech Conference that we will be discussing.  Also, we will be discussing important feedback on recent broadcasts.   Created BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program hosted by mortgage veteran, David Lykken. Joining the program each week is Joe Farr with a MARKET UPDATE, Alice Alvey providing a LEGISLATIVE UPDATE, Paul Muolo of IMFnews.com giving a quick MTG NEWS HEADLINES update, Andy Schell (a/k/a "The Profit Doctor") providing tips on FINANCIAL MANAGEMENT and Tony Garritano providing a TECHNOLOGY UPDATE.  This is followed by the HOT TOPIC segment, which is an in depth discussion about one of the hottest t

When interest rates recently fell, a surge of new originations overwhelmed the operations of many companies and challenged service level agreements (SLA's), specifically underwriting turn times.   Managing the ebbs and flows of mortgage operations has always has been and always will be a challenge for business owners & executives.  Some solve SLA issues by staffing for peak periods but that comes at a cost.  Others are turning to MI companies and other vendors who provide contract underwriting as a service.  The later helps create a variable cost structure that helps companies more effectively manage the ebbs and flows and their costs.   On today's broadcast, we will be discussing best practices involved with CONTRACT UNDERWRITING with a leading CONTRACT UNDERWRITING VENDOR that just happens to be a company with whom many MI companies contract when their customers want them to do contract underwriting.   Created BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute

This is a Re-Broadcast of a Lykken on Lending show on Third Party Management.   On today's repeat broadcast, Andy Schell, The Profit Doctor, and Theresa Marie, both with Mortgage Banking Solutions, discuss the CFPB focus on Third Party Management and how you can successfully comply with this regulatory requirement.  Created BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program hosted by mortgage veteran, David Lykken. Joining the program each week is Joe Farr with a MARKET UPDATE, Alice Alvey providing a LEGISLATIVE UPDATE, Paul Muolo of IMFnews.com giving a quick MTG NEWS HEADLINES update, Andy Schell (a/k/a "The Profit Doctor") providing tips on FINANCIAL MANAGEMENT and Tony Garritano providing a TECHNOLOGY UPDATE.  This is followed by the HOT TOPIC segment, which is an in depth discussion about one of the hottest topics related to the mortgage industry.

Not a week goes by that we don't hear of another MERGER and/or ACQUISITION (M&A) transaction.  What is going on?  What is driving the latest round of M&A transactions?  Is this level of M&A activity normal?  Should you consider BUYING, SELLING or MERGING?     On today's broadcast, we are delighted to have back as our special guest CHUCK KLEIN, Managing Partner of Mortgage Banking Solutions.  Chuck  has over 20 years of mergers and acquisition experience and is one of the nation's foremost authorities on the topic.  We'll be  Discussing the following questions and a lot more: If you were to sell your company, what is it worth today? Have company valuations changed?Which production channels seem to have more franchise value than others?What are some of the accounting and tax issues that come up in an M&A transaction? Created BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program hosted by mortgage veteran, David Lykken. Joining the program ea