Mike Roberts is about to make his first early payoff (EPO) penalty in two years after finding out that one of his clients refinanced a $355,000 loan with a 7.25% rate that Roberts closed in April. “The amount that we received in yield spread was 1.72%, which equates to $6,106,” said Roberts, co-founder and president…
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Although the industry is barely than a week into the “new normal,” some real estate agents and brokers are already seeing smaller buy-side commissions. “It kind of started before the [National Association of Realtors] settlement went into effect, but commission compression is a real thing,” Brian Huskey, the broker-owner of Montana-based ERA American Real Estate,…
When interest rates began skyrocketing more than two years ago, mortgage companies faced a pivotal decision regarding a crucial part of their business: the servicing portfolio. This period was a windfall for servicers. Rising rates typically slow down borrower prepayments, increase the fair value of mortgage servicing rights (MSRs), and enable companies to earn more…
A midcentury retreat in Idyllwild, a two-bedroom condominium in Playa del Rey and a two-bedroom townhouse in Campbell.