- It's a house divided at TMC for the next week as my beloved Cleveland Indians take on TMC Co-Founder & Vice Chairman David Kittle’s beloved Boston Red Sox. Our daily calls have gotten a little more tense as of late. TMC CEO Jim Park (Padres fan) didn’t even know the playoffs had started. :-)
- Of course, the MBA Annual is coming up in Boston in a little less than three weeks. It’s such a great conference city. Very walkable. Great food, people, pubs, neighborhoods, and accents. Water, parks, bridges, boats, bike paths, Fenway, and the best Little Italy in America for my money. I’d rank it only behind San Diego and Nashville on my personal list of favorite conference cities.
- Conferences tend to have undertones and themes, and I expect to hear a lot about innovation, growth, efficiency and servicing in Boston later this month.
- There’s an interesting dynamic happening in mortgage banking right now. Due to many factors, our industry was still in the stone ages from a technology perspective until just these past couple of years and companies are scrambling to assess the options that can make their process and customer experience more streamlined and innovative.
- At the same time, companies are trying to grow to outpace the cost to originate and to prepare for a market that is primarily purchases and higher interest rates. A lot of interesting 2017 budget expenditure debates are going on in board rooms of mortgage lenders right now.
- It seems like more than ever before, firms are looking to adjust their strategy on servicing. Those that have been in the servicing game are frustrated with the cost and compliance. Yet never before have I talked to more companies that are looking to start to service loans.
- With market share shifting rapidly to IMB’s, a Hillary victory in November will mean a much larger CFPB in 2017 and beyond. Two areas I’d urge IMB’s to focus on is cybersecurity and fair lending practices and procedures.
TMC - Chief Operating Officer