Blogs

Redlining - Really? It's Still Happening?

By Keith Kemph posted 23 hours ago
PART ONE December 4, 2023 By Julie Piepho, Principal, BlackFin Group Believe it or not, redlining is still happening in the United States in the mortgage industry. It may or may not be intentional, but it is still happening. I’m sure you are thinking this can’t be happening. After all, we don’t even have red pens anymore!! What is the history of redlining and when did it start? Redlining practices were prevalent from the 1930s to the 1960s. Ostensibly intended to reduce lender risk, redlining effectively institutionalized racial bias, making it easier to discriminate against and limit homebuying opportunities for people of color. ...

Leaders, It’s Time to Shovel Snow!

By Keith Kemph posted 3 days ago
12/1/23 By Keith Kemph, President CEO, BlackFin Group Living in Denver provides immeasurable work-life balance rewards throughout the year. However, there is an occasional snow fall when I can either grab the high-powered Briggs & Stratton, 212cc, 2 stage, self-propelling snow blower – or simply pick up the snow shovel for a light workout. After a recent early November snowfall, I opted for the snow shovel. As I often do, I'll look for analogies in the day-to-day to help challenge my client’s or the greater industry us as we look ahead. In preparation for 2024, it’s time for you as a leader start shoveling some snow within the walls ...

2024 Mortgage Planning Starts Now

By Keith Kemph posted 9 days ago
By Luana Slettedahl, Principal at BlackFin Group Every event in life has a cycle, whether it be personal or business. In the mortgage business, the basic truth is that interest rates are unreasonably high and WILL ultimately DROP. Eventually creating a wave of consumers who come back to the table. Nevertheless, looking ahead to 2024 it’s clear that challenges in the housing market and mortgage banking industry will persist. As a result, now is the time to start your strategic planning to maximize revenues in 2024. NOW is the time to seriously evaluate how your firms Capital Markets team is performing, and with that ask the question: “Are ...

Mortgage Teams, Which Side Are You On?

By Keith Kemph posted 22 days ago
November 2, 2023 By Julie Piepho, Principal, BlackFin Group Even though the Mortgage Bankers of America is forecasting a higher closed volume for 2024, the optimism for 2024 is already fading. Provided the 10-year bond remains high it’s been said that we’re still at only two thirds of the actual personnel that still needs to be laid off. Added to that, in some areas of the United States we are just now going into the slow season due to weather. Oh, and let’s not forget, we don’t have inventory anywhere. Subsequently, first-time homebuyers are the initial targets in everyone’s strategic plan because they need housing – be it rental or homeownership. ...

Before Buying New Mortgage Tech, See This!

By Keith Kemph posted 24 days ago
Keith, interviews Anita Padilla and Brad Thompson of Take3, discussing how lenders can reduce the cost of lending. Take3 Tech brings years of lending experience together to provide a simplified yet robust solution for mortgage lenders... Enjoy https://www.youtube.com/watch?v=KysWEOHrymA&t=76s

ACUMA Webinar 3 Biggest Mistakes Lenders Make When Selecting Technology

By Keith Kemph posted 30 days ago
3 Biggest Mistakes Lenders Make When Selecting Technology. Mortgage Technology experts provide sound advice on avoiding the traps and pitfalls that don't present themselves till much later in the implementation process. Click this l ink: https://www.youtube.com/watch?v=aE_THEqBPR8

MCT's Update for the Current MSR Market 11/3/2023

By Danielle Dvorchak posted 11-03-2023
Mortgage rates and most indices continued their ascent during the month of October. Mortgage rates managed to end the month higher than 9/30/2023 levels by about 40 basis points, while float income rates managed to gain about five (5) basis points over 9/30/2023 levels. Mortgage production remained weak during October due to higher mortgage rates in addition to continued low real estate/housing inventories throughout the country. Market values for existing MSR portfolios remained strong during October, however, we are observing some retraction in MSR market values as the number of bulk MSR offerings and potential buyers are both below levels the market ...

Mortgage Technology for Mortgage People

By Keith Kemph posted 11-02-2023
Want to provide a better Member experience? BlackFin Group, President & CEO, Keith Kemph, sits down with Preferred Partner Cloudvirga's CEO, Maria Moskver to discuss how to deliver a better member experience. Cloudvirga, a Stewart Company and proud ACUMA member! Some critical insights to consider before making your purchasing decision . Maybe you don't need a whole new LOS... Click Here: Mortgage Technology for Mortgage People

MSR Spotlight - MSR Retain Vs Release with David Burruss

By Danielle Dvorchak posted 11-01-2023
Check out our latest MSR expert interview We asked MCT's David Burruss to sit down and provide some insight regarding MSR retain vs release decisions as it pertains to the current market.

Strengths at Work for Your Mortgage Industry

By Scott Albrecht posted 10-31-2023
A person’s ability to achieve excellence and get the most out of their life is directly linked to understanding, developing and aiming their strengths at the outcomes that matter. Below is a look at my CliftonStrengths by Gallup What I do in this industry, really works well for me and is on display every time I take the stage. But did you know strengths are not strengths unless you work on them? That's right. Most of us were born with natural born in attributes like some can run faster than others without going to the gym. However, when those talents are brought to the gym they turn into strengths. When they are not worked on you may run poorly ...

ACUMA Webinar: 3 Biggest Mistakes Selecting Technology

By Keith Kemph posted 10-31-2023
A team of industry experts highlight the biggest mistakes made when selecting new technology. Listen while you work to an insightful ACUMA webinar, brought to you by our Preferred Partners at Constellation and SimpleNexus. Listen Now: 3 Mistakes When Selecting New Tech

The Hidden Market of Marginalized Communities

By Keith Kemph posted 10-26-2023
Opportunity abounds for Credit Unions in the marginalized Communities https://www.youtube.com/watch?v=5hjl342hWhQ

Why engaging the consumer experience is the key to success

By Keith Kemph posted 10-23-2023
Sophia Rossato of Floify steps into the Shark Cage with Keith Kemph of BlackFin. Sometimes a whole new LOS won't be the answer to what you need most - for the best customer experience. Click Here: Why engaging the consumer experience is the key to success. Listen while you work to some great insights.

MortgageFlex, Offering A unique approach to reducing the per loan cost

By Keith Kemph posted 10-18-2023
An interesting podcast interview we recently conducted with our Preferred Partners at MortgageFlex. MortgageFlex, Offering A unique approach to reducing the per loan cost Stay tuned for more insightful webinars from our Preferred Partners... Keith

MSR Spotlight - MSR Pricing with David Burruss

By Danielle Dvorchak posted 10-11-2023
Check out our latest MSR expert interview We asked MCT's David Burruss to sit down and provide some insight regarding MSR pricing as it pertains to the current market. In this video, Mr. Burruss discusses industry trends and answers the questions that the majority of clients are currently asking him. Watch the video to hear his summary and advice on MSR pricing. Topics in this video include: How does MCT help MSR clients provide more accurate pricing? How has MCT helped advance their client's pricing system? Contact MCT's MSR team or watch the full video to learn more about the current MSR market.

A Sit Down with Mortgage Operations Expert, Julie Piepho

By Keith Kemph posted 10-11-2023
Listen while you work to some pearls of operational insight and wisdom from BlackFin's own, Julie Piepho. Julie is known industry wide for her mortgage operations expertise. Her impressive background proves that she knows from where she speaks. Click Here --> A Sit Down with Mortgage Operations Expert, Julie Piepho Julie entered the BlackFin Shark Cage to provide critical perspectives that can help your mortgage operations today. Enjoy

Let's Finish The Year Strong

By Keith Kemph posted 10-04-2023
October 1, 2023 By Julie Piepho, Principal, BlackFin Group The economic factors all seem to be against us right now --- raising interest rates, declining volume, decreasing home sales, declining housing starts, the Fed thinking they want to do one more interest rate hike this year, shortage of workers, another round of layoffs at our companies --- it’s enough to want to find Tom Hank’s Wilson and go to a deserted island and forget about it! We’ve heard many industry experts state that it will be a very long, hard, and cold winter in mortgage. So, what can we do for the remainder of 2023 to finish strong and prepare ourselves for 2024? Here ...

A Message on Portfolio Valuations from MCT's MSR Team

By Danielle Dvorchak posted 09-20-2023
We asked MCT's David Burruss to sit down and provide insight regarding portfolio valuations as it pertains to the current market. In this video , Mr. Burruss discusses industry trends and answers the questions that the majority of clients are currently asking him. Watch the video to hear his summary and advice on portfolio valuations. Topics in this video include: What questions are top of mind for MSR clients? Does MCT provide tools and support related to MSR portfolio risk? Has MCT provided any recent updates that add value for clients? Contact MCT's MSR team or watch the full video to learn more about the current ...

Update for the Current MSR Market MSR Update for September, 2023

By Danielle Dvorchak posted 09-20-2023
Mortgage rates and most indices continued their ascend during the first three weeks of August, then retreated by the end of August. However, mortgage rates managed to end the month higher than 7/31/2023 levels by about 9 basis points, while float income rates have been relatively unchanged since 7/31/2023. Mortgage production remained weak during August due to higher mortgage rates in addition to continued low real estate/housing inventories throughout the country. Market values for existing MSR portfolios remained strong during August compared to the first two quarters of 2023. Bulk MSR market values continue to maintain some resiliency and also experienced ...

Lender Defaults Ahead, Are You Prepared?

By Keith Kemph posted 09-20-2023
After 20 years in the mortgage servicing and default management world, I’ve seen a thing or two that might surprise you. Today, as Managing Director and Partner of Servicing at BlackFin, I am always looking to share best practices for default servicing. Especially now as there is a notable shift afoot in default servicing. Make note that defaults are ahead and there is an impending need to start preparing your organization. Just yesterday, in Yahoo News it was noted that in May 2023 lenders repossessed 4,020 properties through completed foreclosures (REO’s). That’s up 38% from April and 41% from this same time last year. And folks, we are just getting ...