JPM’s Ellie Mae Downgrade; Lots of Vendor News/Products; Tariffs and Rates


Well, I’m a standing on a corner in Winslow, Arizona and such a fine sight to see.  What if you want to put down roots there? The town, 3 and a half hours northeast of Phoenix, has plenty of reasonably-priced
. It’s high desert, and a casual glance indicates
that every tree in the yard adds about $50k to the value. Not much has changed
there in the 46 years since that song was released, unlike our industry where
there’s news every day. The latest is JPMorgan Chase’s downgrade of Ellie Mae
after earning forecasts failed to meet expectations, while also citing lower
home purchase volume, rising interest rates, and lack of entry-level supply for
first-time home buyers, the kind catered to by many lenders who use Ellie Mae’s
electronic origination platform Encompass.

Random vendor updates from around the biz

LLC announced the upcoming launch of its “innovative new
ecosystem for independent mortgage brokers, allowing them
to leverage their personal connections and local knowledge to serve borrowers
in a whole new way. Designed to fill the real-world needs of independent
brokers, ARIVE will offer a seamless experience to unite lenders, borrowers,
and third-party vendors. Brokers will be able to check pricing, lock rates,
upload documentation, and much more – all in a first of its kind environment
that unites traditional human connection with cutting-edge technology.”

now on Amazon Alexa. Simply say “Alexa, launch Arch MI” to activate
the Arch MI Skill on your Echo, Dot or Tap. Then choose an option and say it
out load: “Get a RateStar quote.” “Find my Account
Manager.” “Call Customer Service.” “Help.” Click this
more information and detailed instructions on launching the Arch MI Skill.

while back LoanLogics announced
Transformational Mortgage Solutions (TMS) is taking over its MSR consulting
operations and its MarketLogics newsletter so the company can focus on its core
products and services. Les Parker, who led MarketLogics as well as LoanLogics’
consulting efforts, will join TMS as managing director but will continue working
with LoanLogics as an advisor. “TMS has been a close partner of ours for many
years, so this was a natural next step in our relationship,” LoanLogics
CEO Brian Fitzpatrick said.

Corelogic announced that
it has an agreement with to offer consumer-facing real estate
websites to its MLS clients. Under the agreement, Corelogic will begin offering’s Fusion Portal production to its clients.

Simplifile facilitated
the first e-recording transaction in the state of West Virginia. The
transaction was completed on Friday, Aug. 24 in Monongalia County, W. Va.,
which is the first recording jurisdiction in the state to begin e-recording
land documents. The closing attorney for the transaction submitted the
documents via Simplifile’s E-recording platform to the Monongalia County
recorder’s office on Thursday, Aug. 23. Due to the nature of West Virginia’s
recording process, the verified and recorded documents were returned to the
closing attorney the next business day. This represents a significant
improvement over Monongalia County’s previous, paper-based process.

CoreLogic added
a Blended Reissue functionality to its LoanSafe Fraud Manager solution. The
introduction of this feature will allow investors to have greater insight into
fraud alerts, helping them more quickly approve purchases or spot potential
fraud. Blended Reissue provides controlled coordination of the fraud
review between parties, simplifies the transition of important information
between the originator and the investor, allows users to see how the originator
cleared alerts, and can help reduce costs. Customization of the Blended Reissue
functionality within the LoanSafe Fraud Manager report based on an investor’s unique
policies is also available.

and Optimal Blue announced
a newly formed strategic partnership aimed at changing the digital
correspondent experience. By delivering a real-time integration between
LoanLogics’ LoanHD Correspondent Lending
platform and Optimal Blue’s product eligibility and pricing platform, the
companies significantly advance the automation of correspondent loan
transactions and create a compelling competitive advantage for clients of both
firms. In conjunction with this partnership, Optimal Blue has acquired
LoanLogics’ product, pricing, and eligibility (PPE) technology business,
LoanDecisions. LoanLogics and Optimal Blue share a long-term vision for the
relationship and consider this the first step of many together. With a
collective focus on providing innovative automation for the mortgage industry
and compelling value for joint customers, additional strategic initiatives and
collaborative integrations across the companies’ respective technology
platforms are already being considered.

Point Financial Corporation announced an expanded partnership with Capsilon, a
leading provider of mortgage automation software.
Home Point chose Capsilon to eliminate bottlenecks in the loan process, boost
productivity and reduce risks. The Capsilon IQ platform was integrated with a proprietary
tool called Automated File Intake for Home Point’s Correspondent channel.
Capsilon IQ was also rolled out across their Wholesale channel. Home Point
reduced Delegated Correspondent purchase review time by 33% through integration
with Capsilon IQ, improving operational efficiency and delivering
a better experience for its clients.

that underwrite Condos anywhere in the nation should consider scheduling a demo
of CondoTek’s CondoPak. The CondoPak
includes the certified questionnaire, necessary governing documents, current
budget, certificates of insurance and more. Email for
more information. has aligned with significantly
improve each company’s fundamental purpose of helping homeowners make the most
educated and informed decisions about their home. Visitors to will now have expedited access to information about their
existing mortgage, allowing them to make the most educated decision regarding a
potential refinance, home equity loan or a new mortgage to purchase a home. The
strategic partnership facilitates the process for homeowners to work with
participating servicers. Only the homeowner’s existing mortgage servicer
possesses all the information necessary to review an existing mortgage loan,
educate loan customers about financing options and create mutually beneficial
outcomes. Mortgage servicers benefit by retaining valuable customer relationships
long term.

Capital markets

Bank of Oklahoma has been added as an approved counterparty for Ditech’s AOT

businesses remain optimistic about the direction of the economy but are
concerned that tariffs will increase their costs, according to a Federal
Reserve report. Manufacturers are uncertain over the impact ongoing trade
disputes and a current labor shortage will have on their operations, the report
shows. The Federal Reserve fund rate is approaching the top of its target range
at 2.2%, and analysts say it may soon need to amend its interest on excess
reserves policy.

was a relatively quiet day in the bond market yesterday as the U.S. 10-year
closed at 3.14% with most attention focused on equities as earnings reports are
in full swing. Internationally, Fitch affirmed Australia’s AAA rating with a
Stable outlook, and four of the largest Chinese banks have lowered mortgage
rates on purchases of first homes in “Tier 1” cities while China’s Banking and
Insurance Regulator noted that it will support investments of insurers in
listed companies. Xinhua quoted President Xi Jinping as saying the government
is looking for ways to support small companies.

in our borders, the first look at Q3 GDP kicked off today’s calendar (expected
+2.9%, it was stronger at +3.5% but “final sales” were only +1.4%, lower than
expected). The inflation component is close to the Fed’s target. The University
of Michigan Consumer Sentiment Index is next up at 10AM ET with a slight
decline in the preliminary estimate, current conditions, and expectations
forecasted.  Friday
starts with the 10-year yielding 3.09% and agency MBS prices are better by .125.


Lender products, services, and announcements

Caliber Home Loans, Inc., the #3 non-bank lender according to the October issue of Inside Mortgage Finance, continues its mission to be ambassadors of goodwill in military communities. In May 2018, Caliber agreed to contribute a portion of the proceeds from every VA loan closed through its Virginia Beach, VA branch to the UDT-SEAL Association. Earlier this month, Caliber presented a check to UDT-SEAL for $10,000. Caliber has also initiated a new program that helps more real estate professionals meet the specific home buying needs of the brave men and women of the U.S. military – Operation 1M. Through this initiative, Caliber has set a goal of educating 1 million people in the industry to breakdown common myths about VA loans, and to help them understand how to create a happy home buying experience for military families.

“It just got even easier to close more deals with less effort. Usherpa has joined Blend’s partner ecosystem, giving members access to Blend’s consumer lending platform via streamlined integration with Usherpa’s industry-leading marketing CRM. Simply push a lead to Blend from Usherpa, and that prospective borrower will receive an email inviting them to start their application, with fields already pre-filled from Usherpa data. This game-changing partnership will empower Usherpa members to originate loans more easily and build stronger relationships. With data being pushed between Blend and Usherpa, you’ll eliminate double data entry and automate marketing sooner in the process, ultimately increase your pull-through and production. Here at Usherpa, your success is our top priority. Learn more about the Blend ecosystem integration here. Visit to set up a demo today.”

Momentifi CEO Gibran Nicholas is hosting a Sales Momentum Webinar next Thursday, Nov 1. Topics include: how to improve your team’s lead-to-funding conversion rate and generate 300 extra loans for every 10,000 leads in your database (or 30 loans for every 1,000 leads), and how to use two key sales metrics to create and implement a company-wide sales coaching program that generates massive results within 90 days, and how to use your internal sales coaching platform as a recruiting superpower to attract and retain top producers. The webinar is intended for LOs, sales managers and executives who are serious about driving sales growth. “I’ll be sharing a free one-page tool you can use to keep your team hyper-focused on creating sales momentum,” says Gibran. Click here to sign up for the free webinar!

Should you look to your health insurance plan for savings? With margins getting squeezed ever tighter in our industry, companies need to look everywhere to trim costs. Saving just 2-3 bps can be the difference between losing or making money. Some lenders have lowered costs by taking a different approach to their health plan. The concept is simple- rather than leaving claim management up to the health insurers, which rarely audit claims or challenge healthcare providers’ hyper-inflated charges-companies are taking control of their own claims. The results can be astounding. A typical company can save 20% to 30% (!) – or $200k to $300k for every 100 employees on their health plan. Do the math… it adds up. It is important to seek out a broker who is knowledgeable about this approach. Bern Heer is one such broker. You can receive more information, case studies, and a complementary actuarial analysis for your company by emailing him at, or by calling him directly at 1-800-346-4015.  

“Attention Independent Mortgage Bankers, Banks and Credit Unions. PennyMac Loan Services, LLC has announced an expansion of its Non-Delegated Program and is actively approving new clients of all sizes. In addition to Conventional and Jumbo, FHA launched earlier this month and VA will follow quickly with a mid-November release. The company also recently launched its new MI program called Enterprise-Paid Mortgage Insurance (EPMI) that targets better pricing and a streamlined process. Aside from new products and competitive pricing, the firm has focused on improving customer service with enhanced processes that cut turn times significantly. While the market continues to evolve, PennyMac is committed to helping Non-Delegated clients minimize risk and lower overhead as we navigate the road ahead. Please contact Liam Cooney for more information. NMLS ID#35953

Jobs promotions

If you’ve bumped into REMN Wholesale’s Carl Markman during his coast-to-coast travels, you may have seen some new faces beside him. To accommodate increased interest from its broker partners, REMN has added Caleb Espinoza, Granville Anderson, and Clay Carr, as account executives in Florida, Louisiana, and the Carolinas, respectively. In addition to new AE’s, REMN has other big news to share. REMN now offers the Simple Access program for non-QM loans. These loans offer very competitive rates and provide an excellent opportunity for brokers who haven’t leveraged the rise in non-QM borrowers. REMN’s Simple Access non-QM program represents a major opportunity to work with quality borrowers who may not qualify for other loan products. Competitive rates are nothing without a dedication to customer service to support them. REMN continues to seek out dedicated AEs across the country that share its commitment to helping its customers thrive. Experienced professionals who match this description should send their resumes to

Waterstone Mortgage announced the promotion of Kim Newby to SVP of Investor Relations and Product Development, and Rich Tucker to SVP of Loan Operations. Steve Lawrence is now Waterstone’s SVP of Information Systems, Nicole Wolfgram is now its VP of Construction, and Chris Hatton is the new AVP of Compliance. Congrats to all!

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