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1/30/2023

TMC BENCHMARK DECEMBER DATA: Production and Cost Per Closed Loan Increase, While New Applications STAY STEADY.

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December rounded out 2022 with a continued downturn in applications. However, TMC’s lender members sawproduction go up and salaries and fees stay flat. Unfortunately cost per closed loans went back up in December, while efficiencydecreasedslightlyas we head into the new year.

Closed loan units increased 3% in December when compared to the month prior. Within that, lenders saw closed purchase loans and refinances continue to remain flat month over month. Refinances finally dipped to 12% of all closings in December after remaining at 13% for five months in a row.

Here's the refinance share we've seen in TMC Benchmark through 2022:

January 2022: 39%
February 2022: 37%
March 2022: 29%
April 2022: 24%
May 2022: 16%
June 2022: 14%
July 2022: 13%
August2022: 13%
September2022: 13%
October2022: 13%
November2022: 13%
December 2022: 12%

The % of conventional closings also remained flat again in December at 65% (units). Historically, conventional loans have represented 75-76% of all closed loan units these past six years. Government loan closings remained at elevated levels, coming in at 28%of all closings this month, far above the 18-20% ranges we’ve historically seen in TMC Benchmark.

New applications dropped by 13% in December from the previous month. Conventional loans remained flat at 64% of new app share.

Operational efficiency increased for closers and processors, and remained relatively flat for everyone else in December. The number of closed loan units closed per full-time processor were up to 6, and closed loan units per full-time closer increased to 19in December from 17.93 in November. Closed loan units per full-time underwriter remained at 16 in December. The average loan originator closed 2.21 units in December, a drop from 2.26 in November. LO comp came in at an average of 97.95 bps, up 6.25 basis point (bp) from last month's 91.7 total.

Average annual compensation paid to operational staff increased month-over-month, with average annual comp paid to FTE processors at $51,452 this month. Underwriter annual comp lowered slightly to $84,462. Average annual comp paid to closers roseto $53,958.

The average "app date to clear to close date" decreased to 36.97 this month. Let's look at how this number trended throughout the course of 2021 and 2022:

January '21 -47.9
February '21 -43.1
March '21 -42.8
April '21 -45.7
May '21 -43.8
June '21 -41.8
July '21 -43.2
August '21 -42.5
September '21 -42.3
October '21 -42.6
November '21 -41.0
December '21 -34.0
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January '22 -40.1
February '22 -39.6
March '22 -39.6
April '22 -39.6
May ’22 –42.3
June '22 –39.7
July '22 –39.2
August ’22 –38.45
September ’22 –38.93
October ’22 –37.07
November ’22 –40.7
December ’22 –36.97

The average cost per closed loan unit our members paid for their loan origination system (LOS) increased in December to $173 from $153 the previous month. The average cost per closed loan unit for our members' point-of-sale (POS) system climbed $6.28 to $71.55in December and rose 9 bps to $95 for their CRM.

Average non-third-party lender fees for conventional loans rose slightly to $1,225 in December compared to $1,191 the previous month. Government lender fees rose slightly from $1,200 to $1,226 in this most recent month.

​57% of this month's participants in TMC Benchmark were depositories, and 43% were IMBs. 39% originate under $500M a year in annual volume, 26% originate between $500M-$1B, and 35% originate over $1 billion per year in annual production.on.

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1/27/2023

Preferred Partner Headlines: Week of January 30th

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iEmergent's Mortgage Origination Forecast Update: January 2023
Black Knight: Delinquencies Climb Upward to Close 2022
Optimal Blue, a division of Black Knight: Weekly Market Update - 1/25/23

Thought Leadership
Vice Capital Markets Principal, Chris Bennett: How to Fire Up A Lock & Shop Program Without Getting Burned
Arch MI Capital Commentary, featuring Kirk Willison: Will Capitol Hill Help Housing?

Personnel Announcements
Sales Boomerang | Mortgage Coach Chief Innovation Officer, Dave Savage Recognized as Industry Titan by NMP

Media
(Podcast) 1/24 Chrisman Commentary featuring Curinos’ John Sayre on 2023 Mortgage Industry Trends
(Video) Maxwell SVP of Diligence, Jim Smith on The Rundown with Rob & Rich
(Podcast) MGIC Connects featuring Jeff Platfoot: What Changes Mortgage Pros Can Expect From the New Credit Score Models?
(Podcast) Total Expert - Expert Insights featuring Joe Welu & Sue Woodard: Technology Evaluation - Tech Stack of 'Franken-stack'?
(Video) FinTech Fridays, hosted by FinLocker's Brian Vieaux, featuring Take3Tech CEO, Anita Padilla-Fitzgerald
(Video) Optimize (MortgageEducation.com) Lender Testimonials

Blogs
Total Expert Helps Lenders Navigate the Most Challenging Market in Decades, While Powering the Customer Journey for 36% of US Home Loans
SimpleNexus Client Case Study: VanDyk Mortgage
MQMR's Audit-Opoly Whitepaper: MORA Edition - How to Win at the Mortgage Industry's Most Dynamic Game
Denims Social Guide: Helping LO's Achieve Success With Social Media Marketing
Surefire CRM, a Black Knight Company: Beat the Billboard Guys with Cost-Effective Mortgage Marketing Tools & Strategies
Ignite Encompass Tools: Fueling Your Efficiency in '23 - Check Out Ignite's New Pricing Plans
Black Knight: AI Explainability & How Black Knight is Demystifying the DNA of Mortgage Innovation
Sales Boomerang: Your Guide To Becoming Your Realtor's #1 Referral Partner

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1/20/2023

Preferred Partner Headlines: Week of January 23rd

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Capacity Acquires Textel to Enable Businesses With Conversational AI in SMS
Fannie Mae Selects 5 Proposals to Help Advance Racial Equity in Housing via $5 Million Innovation Challenge
Certified Credit: Reducing Loan Origination Costs Despite Rising Credit Reporting Fees
Docutech Supports Nearly 300 Investors! View the Full Matrix Listing
ActiveComply Recognized as 2023 Inno Startup to Watch
Black Knight Announces Developer Portal: Comprehensive Library of API's to Enhance Client Integrations
Fannie Mae & Freddie Mac Get Servicing Valuation Rules from FHFA
Optimal Blue, a division of Black Knight: Weekly Market Update - 1/18/23

Thought Leadership
Arch MI Q1 2023 HaMMR Digest: What Lies Ahead?
matchbox State of the Market - January 2023: Thoughts & Opinions on Mortgage Banking Issues & Challenges
iEmergent's Mark Watson: The Housing Correction Cycle Has Begun

Personnel Announcements
National MI's Mohhammad Yousaf Honored as 'Mortgage Industry Titan' 
Total Expert Launches Inaugural Originator Advisory Board
TechSTL: Getting to Know FinLocker CEO, Henry Cason

Media
(Podcast) Chrisman Commentary featuring SimpleNexus' Lori Brewer
(Video) Brian Vieaux's FinTech Fridays, featuring Optifunder's Jon Rutila
(Podcast) Chrisman Commentary featuring Candor's Tom Showalter & Tom Booker on Repurchasing Candor's Technology to Multiple Segments in Mortgage

Blogs
Certified Credit's Top 10 Blogs of 2022
Capacity: Everything You Need to Know About Helpdesk Chatbots in 2023
Surefire, a Black Knight Company: Power Messaging for Text to Prospects
MQMR Weekly FAQ: Safeguards Rule Amendments
Surefire, a Black Knight Company: Power Video for Embedded Video in Text Messaging to Prospects

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1/13/2023

Preferred Partner Headlines: Week of January 16th

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Agenda Now LIVE! March 5 - 7, 2023: #StayClassywithTMC in San Diego at the Intercontinental Hotel - San Diego, CA
Exciting Opportunities Ahead for OpenClose Customers as We’re Now Part of MeridianLink
Optimal Blue, a division of Black Knight: Weekly Market Update - 1/11/23
Regional Lender Enhances Tech Stack with SimpleNexus
Congratulations to the Venture Lynk Team on being nominating by subscribers of Enterprise Security Magazine as a 2022 Top 10 Enterprise Risk Management Service Provider

Thought Leadership

Maxwell CEO & Co-Founder, John Paasonen: What Will the Housing Industry Look Like in 2023?
Arch MI Capital Commentary featuring Kirk Willison: One Big Thing - Housing's Cloudy Forecast

TMC Connect Next Week

Monday 1/16 @ 3PM ET: Better Me in 2023 – 3 Keys for Reducing Stress, featuring Shirley Clark
Tuesday 1/17 @ 3PM ET: Readiness to Revenue – Building the Perfect Customer Lifetime Journey, featuring Brian Vieaux, Jason Frazier & Jon Hill
Thursday 1/19 @ 2PM ET: Ignite Next Level Solutions for Next Gen, featuring Brad Ketcher

Personnel Announcements

Built Technologies Names Digital Payment Expert Bora Chung and Engineering Veteran Matt Marenghi as Advisors

Blogs

Triserv Lender Resource Series: A Lender's Role in A Smooth Appraisal Process
Curinos Hot Topic: Jumbo Rate Trends, GSE Delivery Limits, Market Growth Trends & Refi Cycle Times
MQMR Weekly FAQ: Reporting Business Purpose Loans - MCR & HMDA

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1/6/2023

Preferred Partner Headlines: Week of January 9th

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Fannie Mae Cuts 2023 Outlook on Recession Expectations
Calculate Your ROI Potential with Sales Boomerang | Mortgage Coach's ROI Conversion Multiplier
SimpleNexus Releases Agenda for SNUG '23
Fannie Mae & Jupiter Announce Climate Assessment Project
Optimal Blue, a division of Black Knight: Weekly Update - 1/4/23
PHOENIX Market Snapshot - November 2022
Fannie Mae & Freddie Mac Announce Replacement Rates for Legacy LIBOR Products
Total Expert Launches New Capabilities for Banks and Lenders to Create Growth Opportunities in an Evolving Market

Thought Leadership
Chief Innovation Officer, Dave Savage: 2022 Top 10 Mortgage Coach Videos & Top 5 Megatrends
Social Coach Founder, Joe Wilson: Creating a Community on Social Media
Maxwell Q&A: Answers to Burning Questions About the Housing Market Going into 2023

Personnel Announcements
iEmergent CEO, Laird Nossuli Honored Among NMP’s 2023 Industry Titans Awards Program
Shelli Holland joins Sales Boomerang and Mortgage Coach as Chief People Officer

TMC Connect next week
Wed 1/11 @ 2PM ET: How Model Match Built A Community for Displaced Talent
Thurs 1/12 @ 2PM ET: Comprehensive Review of Mitigating Buyback Requests & Winning Repurchase Fights 

Media
(Podcast) ICYMI: Lykken on Lending, featuring Candor Technology's Sarah Knochel: What's on the Horizon for Loan Quality Services in 2023
(On-Demand Demo) Capacity: Answer Questions, Automate Tasks & Build Solutions To Any Business Challenge
(Video) Black Knight VP, Andy Walden Talks Rate Locks & Housing Affordability on CNBC's The Exchange
(Video) Black Knight VP, Andy Walden Discusses the Health of Housing Market on CNBC's The Exchange

Blogs
Maxwell New eBook: Launching Home Loans - How to Build a Profitable & Scalable Mortgage Operation
Ernst Fee Service From Black Knight Supports New Hyperlocal Requirements to Enhance Intuitiveness to Fee Changes
Certified Credit: 3 Unique Ways for Lenders to Thrive Amidst Unexpected Challenges in 2023
New Surefire CRM eBook: A Lenders Guide to Meaningfully Investing in Marketing Automation & Text Message Marketing
Triserv Lender Resource Series: Know Your Forms
Maxwell: How to Prepare for the Rise of Non-Performing Loans in 2023's Market
TRUE Customer Perspectives: 4 Challenges Facing Product Leaders in the Mortgage Industry
FinLocker New Whitepaper: 8 Ways LO Can Strengthen Relationships with Real Estate Agents
TRUE Customer Perspectives: 4 Challenges We Hear from Mortgage Industry Operations Teams
#OpentoWork: Model Match Connect Brings Impacted Industry Talent A Forum to Connect with Employers Seeking to Help

Events
March 5 - 7, 2023: #StayClassywithTMC in San Diego at the Intercontinental Hotel - San Diego, CA
March 12 - 16, 2023: Level Up at SimpleNexus's 2023 User Group (SNUG) - Snowbird Resort, UT

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12/23/2022

TMC BENCHMARK NOVEMBER DATA: Salaries Increase As Costs For Systems Decrease.

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TMC’s lender members saw cost per closed loans decrease and salaries go up in November. Applications continue to decrease slightly, and with-it falling production and efficiency as we head into the winter months.  
Closed loan units were down 14% in November when compared to the month prior. Within that, lenders saw closed purchase loans and refinances continue to remain flat month over month. Refinances remained at 13% of all closings in November for a fifth month in a row.  
   
Here's the refinance share we've seen in TMC Benchmark over the last six months:  
   
January 2022: 39%  
February 2022: 37%  
March 2022: 29%  
April 2022: 24%  
May 2022: 16%  
June 2022: 14% 
July 2022: 13% 
August: 13% 
September: 13% 
October: 13% 
November: 13% 
   
The % of conventional closings also remained flat again in November at 65% (units). Historically, conventional loans have represented 75-76% of all closed loan units these past six years. Government loan closings remained at elevated levels, coming in at 27% of all closings this month, far above the 18-20% ranges we’ve historically seen in TMC Benchmark.  
   
New applications dropped by 13% in November from the previous month. Conventional loans remained flat at 62% of new app share. 
   
November brought operational efficiency down for closers and remained relatively flat for everyone else. The number of closed loan units closed per full-time processor were down to 5.94, and closed loan units per full-time closer increased to 17.93 in November from 20.32 in October. Closed loan units per full-time underwriter decreased to 16 from 18.33 in October. The average loan originator closed 2.26 units in November, a drop from 2.49 in October. LO comp came in at an average of 91.7 bps, down 3 basis point (bp) from last month's 88.5 total.  
   
Average annual compensation paid to operational staff increased month-over-month, with average annual comp paid to FTE processors at $51,250 this month. Underwriter annual comp also climbed to $85,604. Average annual comp paid to closers rose to $53,444. 
   
The average "app date to clear to close date" decreased to 40.7 this month. Let's look at how this number trended throughout the course of 2021 and 2022:  
   
January '21 - 47.9  
February '21 - 43.1  
March '21 - 42.8  
April '21 - 45.7  
May '21 - 43.8  
June '21 - 41.8  
July '21 - 43.2  
August '21 - 42.5  
September '21 - 42.3  
October '21 - 42.6  
November '21 - 41.0  
December '21 - 34.0 
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January '22 - 40.1  
February '22 - 39.6  
March '22 - 39.6  
April '22 - 39.6  
May ’22 – 42.3  
June '22 – 39.7 
July '22 – 39.2 
August ’22 – 38.45 
September ’22 – 38.93 
October ’22 – 37.07 
November ’22 – 40.7 
 
The average cost per closed loan unit our members paid for their loan origination system (LOS) decreased in November to $153 from $167 the previous month. The average cost per closed loan unit for our members' point-of-sale (POS) system dropped $1 to $65.27 in November and dropped 3 bps to $86 for their CRM.   
   
Average non-third-party lender fees for conventional loans remained flat once again $1,191 in November compared to $1,172 the previous month. Government lender fees rose from $1,200 to $1,164 in this most recent month.  
   
52% of this month's participants in TMC Benchmark were depositories, and 48% were IMBs. 34% originate under $500M a year in annual volume, 29% originate between $500M-$1B, and 37% originate over $1 billion per year in annual production.  

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12/16/2022

Preferred Partner Headlines: Week of December 19th

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Curinos Perspective: Fed's Battle with Inflation Moves to a New Phase
OptiFunder Adds Wire Fraud Protection Feature to its Warehouse Management System
ActiveComply Now Offering Remote Office Inspection Support
CrossCountry Partners with SimpleNexus to Implement CompenSafe Incentive Automation into Workflow
Fannie Mae Enhances AUS for 'Credit Invisible' Borrowers
Sales Boomerang Ranked #162 Fastest Growing Company in North America in Deliotte 2022 Technology Fast 500
Black Knight: 2022 Originations Make Up 60% of Underwater Mortgages
Fannie Mae: Mortgage Rates Primary Impediment to Housing Sentiment Survey
Black Knight Market Monitor: Purchase Locks Down 22% Despite Lower Rates 
Download Denim Social's 2023 Social Media Holiday Content Calendar
Optimal Blue, a division of Black Knight: Weekly Market Update - 12/14/22

Thought Leadership

Total Expert Co-Founder & CEO, Joe Welu: How to Motivate Employees to Embrace New Technologies

Media

(Video) Ross Mortgage's Tim Pascarella Black Knight Empower Testimonial Series
(On-Demand Webinar) Black Knight Mortgage Monitor - October 2022: Impact on the Mortgage Market

Blog

Case Study: SimpleNexus, an nCino Company, Helps Genesee Regional Bank Connect to More Partners to Execute Referral Strategies
MQMR New Whitepaper: Audit-opoly - The MORA Edition
Built Marketplace: Reduce Risk at All-Project Stages of Construction Lending
Maxwell: The Top 3 Market Trends Impacting Today's Borrowers
Download Black Knight's Free McDash Home Equity Report
Denim Social: Social Media Trend Report - A Marketer's Guide to Social Selling in 2023
ICYMI: MQMR Weekly FAQ: Federal Holidays - To Disclose or Not Disclose...That is the Question
ICYMI: Maxwell White Paper: Planning for 2023 – How to Recoup Revenue, Save Costs & Drive Loan Volume in an Uncertain Market
Black Knight: Dynamic Path of a Housing Market Returning to Normal
Triserv: Teamwork Makes the Dream Work
MQMR Weekly FAQ: Servicing QC Requirements for Portfolio Loans

Events

March 5 - 7, 2023: #StayClassywithTMC in San Diego at the Intercontinental Hotel - San Diego, CA
(Webinar) Wed, Jan 11th, 1:00PM ET: Optimal Blue, a division of Black Knight: Hedging 101: The Benefits of Mandatory Delivery
(TMC Connect) Thurs, Jan 12t h, 2:00PM ET: Johnston | Thomas’ Comprehensive Review of Mitigating Buyback Requests & Winning Repurchase Fights
(Webinar) Wed, Jan 25th. 1:00PM ET: Optimal Blue, a division of Black Knight: Hedging 201: The Components of Pipeline Valuation
March 12 - 17, 2023: Level Up at SimpleNexus's 2023 User Group (SNUG) - Snowbird Resort, UT

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12/2/2022

Preferred Partner Headlines: Week of December 5th

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Fannie Mae Predicts US Still on Track for a Modest Recession
PHOENIX Market Snapshot - October 2022
Optimal Blue, a division of Black Knight: Weekly Market Update - 11/30/22
ActiveComply Selected as LinkedIn Compliance Partner
Candor Technology Creates First-Ever Loan Quality Services Underwriting Engine
Check Out the Full Content Library of eBooks, Case Studies & Whitepapers from Sales Boomerang, All in One Location!
Freddie Mac Gen Z Survey

Thought Leadership

Cenlar FSB EVP, Business Development, Dave Miller, CMB: Industry Outlook for Mortgage Servicing
Black Knight Vision Blog: Borrowers in Hurricane Ian's Path 7X More Likely to Become Past Due on Mortgage

Personnel Announcements

NEXTraordinary People Profile: Xactus President, Shelley Leonard: At Home in the Boardroom
Cenlar FSB Announces the Addition of Brian Browne at VP of Cybersecurity
Triserv Appraisal Management Announces Promotion of Ted Venhorst to SVP, Director National Sales & Marketing

Media

Check Out the Full Library of Certified Credit's Talk Data to Me Live Interviews from MBA Annual, including TMC's Jim Park & Rich Swerbinsky
(Podcast) HousingWire News: Maxwell CEO, John Paasonen on Maxwell's Evolution 
(Podcast) Lykken on Lending 11/30 episode featuring Candor Technology: Helping Lenders & Changing the Mortgage Industry
(On-Demand Podcast) ICYMI: Curinos' Jon Sayre Featured on The Chrisman Commentary, Discussed Latest Mortgage Data

Blogs
New Whitepaper: SimpleNexus, an nCino company: Leveraging Digital for Smarter Referral Strategies
MQMR Weekly FAQ: New York CRA

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11/29/2022

Production, Salaries, & Turn Times Wane Driving the TMC Network to Focus on Increasing Efficiency and Reducing Costs

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​TMC’S LENDER MEMBERS CONTINUED TO FEEL THE IMPACT THAT HIGHER INTEREST RATES HAVE HAD ON THE HOME PURCHASE MARKET AND REFINANCE ACTIVITY, AS VOLUME CONTINUED TO FALL OFF AS WE HEAD INTO THE FALL MONTHS. ON THE FLIP SIDE, TURN TIMES FELL, AND COMPENSATION PAID TO OPERATIONAL EMPLOYEES WAS REDUCED.
CLOSED LOAN UNITS WERE DOWN 26% IN OCTOBER WHEN COMPARED TO THE MONTH PRIOR. WITHIN THAT, LENDERS SAW CLOSED PURCHASE LOANS AND REFINANCES CONTINUE TO REMAIN FLAT MONTH OVER MONTH. REFINANCES REMAINED AT 13% OF ALL CLOSINGS IN OCTOBER FOR A FOURTH MONTH IN A ROW. 
  
HERE'S THE REFINANCE SHARE WE'VE SEEN IN TMC BENCHMARK OVER THE LAST SIX MONTHS: 
  
JANUARY 2022: 39% 
FEBRUARY 2022: 37% 
MARCH 2022: 29% 
APRIL 2022: 24% 
MAY 2022: 16% 
JUNE 2022: 14%
JULY 2022: 13%
AUGUST: 13%
SEPTEMBER: 13%
OCTOBER: 13%
  
THE % OF CONVENTIONAL CLOSINGS ALSO REMAINED FLAT AGAIN IN OCTOBER AT 64% (UNITS). HISTORICALLY, CONVENTIONAL LOANS HAVE REPRESENTED 75-76% OF ALL CLOSED LOAN UNITS THESE PAST SIX YEARS. GOVERNMENT LOAN CLOSINGS REMAINED AT ELEVATED LEVELS, COMING IN AT 28% OF ALL CLOSINGS THIS MONTH, FAR ABOVE THE 18-20% RANGES WE’VE HISTORICALLY SEEN IN TMC BENCHMARK. 
  
NEW APPLICATIONS DROPPED BY 18% IN OCTOBER FROM THE PREVIOUS MONTH. CONVENTIONAL LOANS REMAINED FLAT AT 62% OF NEW APP SHARE.
  
OCTOBER BROUGHT OPERATIONAL EFFICIENCY DOWN FOR EVERYONE EXCEPT CLOSERS. THE NUMBER OF CLOSED LOAN UNITS CLOSED PER FULL-TIME PROCESSOR WERE DOWN TO 6.31, AND CLOSED LOAN UNITS PER FULL-TIME CLOSER INCREASED TO 20.32 IN OCTOBER FROM 16.35 IN SEPTEMBER. CLOSED LOAN UNITS PER FULL-TIME UNDERWRITER DECREASED TO 18.33 FROM 19.56 IN SEPTEMBER. THE AVERAGE LOAN ORIGINATOR CLOSED 2.49 UNITS IN OCTOBER, A DROP FROM 3.22 IN SEPTEMBER. LO COMP CAME IN AT AN AVERAGE OF 88.5 BPS, DOWN JUST UNDER 1 BASIS POINT (BP) FROM LAST MONTH'S 89.3 TOTAL. 
  
AVERAGE ANNUAL COMPENSATION PAID TO OPERATIONAL STAFF DECREASED MONTH-OVER-MONTH, WITH AVERAGE ANNUAL COMP PAID TO FTE PROCESSORS REMAINED FLAT AT $50,542 THIS MONTH. UNDERWRITER ANNUAL COMP ALSO DIPPED TO $85,072. AVERAGE ANNUAL COMP PAID TO CLOSERS TIPPED SLIGHTLY TO $52,990.
  
THE AVERAGE "APP DATE TO CLEAR TO CLOSE DATE" DECREASED TO 37.07 THIS MONTH. LET'S LOOK AT HOW THIS NUMBER TRENDED THROUGHOUT THE COURSE OF 2021 AND 2022: 
  
JANUARY '21 - 47.9 
FEBRUARY '21 - 43.1 
MARCH '21 - 42.8 
APRIL '21 - 45.7 
MAY '21 - 43.8 
JUNE '21 - 41.8 
JULY '21 - 43.2 
AUGUST '21 - 42.5 
SEPTEMBER '21 - 42.3 
OCTOBER '21 - 42.6 
NOVEMBER '21 - 41.0 
DECEMBER '21 - 34.0

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​ 
JANUARY '22 - 40.1 
FEBRUARY '22 - 39.6 
MARCH '22 - 39.6 
APRIL '22 - 39.6 
MAY ’22 – 42.3 
JUNE '22 – 39.7
JULY '22 – 39.2
AUGUST ’22 – 38.45
SEPTEMBER ’22 – 38.93
OCTOBER ’22 – 37.07
  
THE AVERAGE COST PER CLOSED LOAN UNIT OUR MEMBERS PAID FOR THEIR LOAN ORIGINATION SYSTEM (LOS) DECREASED IN OCTOBER TO $134 FROM $143 THE PREVIOUS MONTH. THE AVERAGE COST PER CLOSED LOAN UNIT FOR OUR MEMBERS' POINT-OF-SALE (POS) SYSTEM JUMPED $4 TO $66 IN OCTOBER AND LESS THAN HALF A BPS TO $89 FOR THEIR CRM.  
  
AVERAGE NON-THIRD-PARTY LENDER FEES FOR CONVENTIONAL LOANS REMAINED FLAT ONCE AGAIN $1,172 IN OCTOBER COMPARED TO $1,170 THE PREVIOUS MONTH. GOVERNMENT LENDER FEES ROSE FROM $1,164 TO $1,220 IN THIS MOST RECENT MONTH. 
  
57% OF THIS MONTH'S PARTICIPANTS IN TMC BENCHMARK WERE DEPOSITORIES, AND 43% WERE IMBS. 35% ORIGINATE UNDER $500M A YEAR IN ANNUAL VOLUME, 31% ORIGINATE BETWEEN $500M-$1B, AND 34% ORIGINATE OVER $1 BILLION PER YEAR IN ANNUAL PRODUCTION.

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11/17/2022

Preferred Partner Headlines: Week of November 21st

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Events
11/29 – 12/16: 12 Days of TMC – Coming to a Desktop Near You
11/21 @ 4:00PM ET: (Webinar) Introducing CRA-Fair Lending Pal: A Revolutionary Tool to Proactively Avoid CRA & Compliance Fines
11/30 @ 2:00PM ET: (Webinar) Black Knight Mortgage Monitor – October 2022 Data

Top Headlines

Black Knight Mortgage Monitor: September 2022 Report
Optimal Blue, a division of Black Knight: Weekly Market Update - 11/16/22

Media

(On-Demand Demo Series) SimpleNexus Homeownership Platform for Real Estate Professionals
(On-Demand Demo) Capacity: Answer Questions, Automate Repetitive Questions & Build Solutions to Any Business Challenge
(On-Demand Webinar) Black Knight Mortgage Monitor - September 2022: Impact on the Mortgage Market

Blogs

Curinos: Mortgage Hot Topics - 11/10/22
MQMR Weekly FAQ: Address Confidentiality Programs
Black Knight Free eBook: HOA Data - Cost-Effective Turnkey, Scalable
TRUE Blog: Proof That We Are TRUE

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