Author name: Ricky Vasquez

Start with a number that still bothers me: It costs the industry $11,898 to produce one mortgage. The average since 2008 is $7,903. So through the whole “digital mortgage” era, all those billions in software, the cost of making a loan went up 50%. We digitized the fax machine and sent borrowers the bill. If […]

Here is a common situation. On a Thursday afternoon, a closing coordinator at a title company gets an email from a supposed seller. He says he’s traveling and needs his wire instructions updated before Friday’s closing. Nothing looks off. The coordinator updates the file. When the file disburses the next day, $100,000 in seller proceeds

Enjoy complimentary access to top ideas and insights — selected by our editors.Want unlimited access to top ideas and insights? Subscribe Now As the US Treasury market experiences growing instability, a number of more astute independent mortgage bank executives have begun to ponder how to protect themselves and their businesses in a more volatile funding