Assuming the Financial Reform Bill passes next week, what will eventually happen to rate sheets everywhere?
How will correspondent and wholesale rate sheets look? Some believe that sheets will only offer rates at a cost to borrowers or a par rate with no rebate. So a broker or loan agent, who is receiving their compensation based on whatever their fee is per loan, will offer a much more limited set of pricing to borrowers. Others believe that rate sheets won’t change much, and that investors and brokers will figure out a way around it. One veteran said, “In the old days I had a Fannie Goldbook on my desk, which showed different prices for different rates. And bond math dictates that, given the same risk, maturity, etc., an investor will pay a higher price for a higher yield.” Many years ago The Cars sang, “Since you’re gone, I missed the big sensation. Since you’re gone, I took the big vacation…” We find ourselves in one of the big vacation weeks of the year, since workers, many with summer vacation kids, have to use up only 4 vacation days to gain 9 days away. Whether they work trading mo
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- Assuming that good quality is a given, how does the look-and-feel factor work for a product thats eventually going to go under the hood?
- Who do loan officers contact in regards to rate sheets, loan programs & pricing questions as well as the status of their loan(s)?
- What is the success rate for Real Wealth Financial?
