How ‘bout some good news? Last week’s apps skyrocketed, and… Builders are sitting on a pile of unsold homes and are slashing prices and offering mortgage rate deals! It sure is hard to have a “steady as she goes” environment in real estate and lending. Word continues to simmer about IMBs (independent mortgage banks) and the Community Reinvestment Act. Even though the CRA is a Congressionally approved law at the federal level, states like Illinois and New York have put rules in place, despite IMBs not accepting deposits. Some states can be more restrictive than the Federal government, but they don’t want to do anything that is unconstitutional. In addition, regulators, it can be argued, use archaic measures to analyze business practices. What difference does it make where the branch is, given that so many LOs work from home? Questions have come up about the CFPB and Justice Department enforcing Fair Lending. How will Fair Lending be enforced, if at all? Ask any LO: Lenders are taking every loan they can get, so claims of redlining are highly suspect. Every lender out there is trying in every way to qualify any borrower. Certainly, inventory shortages in some areas shouldn’t be held against lenders. (Today’s podcast can be found here and this week’s is sponsored by Figure. Figure is shaking up the lending world with its five-day HELOC, offering borrower approvals in as little as five minutes and funding in five days. Lenders, give your borrowers an experience they will rave about. On today’s hear a discussion between Robbie and Rob Chrisman making sense of all the volatility we have seen as a result of President Trump’s tariffs.)