Numbers Don't Lie

Sep 16, 2011

Check this out per Mortgage Stats: There were 261,000 Bankers/Brokers that could orginate loans in Jan 2010. As of July 2011 there is now 237,000 Banker/Brokers. In January 2010 sales of existing homes were 3,390,000 and new homes were 2,790. In July 2011 sales of existing were 4,120,000 and new homes 2,980. Ok, so all those stats to say this: In January 2010 if you divided all the home sales by orginators, each orginator would on average close 14 loans if all transactions had a loan. Today there are less orginators and loan volume is going up based on home sales. The average for July 2011 would have been 18.6 deals per Loan Officer. I think this is extremely valuable information. What a gut check, numbers don’t lie. Love you all, Stewart Hunter

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Stewart Hunter and Jim McMahan

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Sep 16, 2011

Analysis and Data

Mortgage Industry Despairs Over Positive Jobs Report

Leading to 'crushed' expectations of another significant rate cut

The September jobs report came back with flying colors, adding far more jobs than Wall Street economists projected while the unemployment rate ticked down, leading to what can only be called a crushing defeat for mortgage professionals. In response, the average rate for the ...

People On The Move

Pennymac Shakes Up Capital Markets Team

William Chang, Pennymac’s long-time capital markets leader, to "pursue other interests in the mortgage banking industry."

PennyMac Financial Services, Inc. and PennyMac Mortgage Investment Trust announced Thursday that William Chang will step down from his roles as Senior Managing Director and Chief Capital Markets Officer at PFSI, and Senior Managing Director and Chief Investment Officer at PM...