Some things are surprising, like this video of a small child being chased by a wild pit bull. (Parental discretion may be advised.) What if you’re a landlord in a rent control area, and your monthly insurance bill surprisingly just double or tripled, now what? You can’t pass that on to tenants. Although many expect rates to decline, the rapidity of the recent drop was surprising. How much of a shot in the arm can the industry expect? You can bet good money that whoever owns the servicing on that 7 or 8 percent fixed-rate loan, originated earlier this year or last year, has already reached out to that borrower. That would not be surprising. What would be surprising is if the originator, even though he or she doesn’t own the servicing any longer, hasn’t contacted the borrower with important points about refinancing, and made their value proposition clear. But talk to your capital markets team about EPO penalties! (Today’s podcast is found here and this week’s is sponsored by PHH Mortgage. If you are looking for a Correspondent Lending partner or an experienced, award-winning subservicer who can manage your forward and reverse, residential and commercial, and performing and non-performing loans, look no further than PHH. Hear an interview with the Institutional Risk Analyst’s Chris Whalen on ways to intelligently improve risk-based capital requirements.) Lender and Broker Software, Products, and Services “Truv income and employment verification (VOIE) and assets (VOA) are made for any customer. It doesn’t force you to combine different solutions to get the job done. It customizes the verification type for each customer to optimize conversion. How does it work? We have 3 ways to verify income: Payroll login, Bank Login and Document Upload. We use Smart Routing to decide if a customer goes through the Payroll login or the Bank login. This model was trained on over >10M of transactions. Smart Routing optimizes conversion based on what we know about the customer and the 300,000+ employers we’ve seen. We use our Document Upload process for cases where it doesn’t make sense to send the customer to a Payroll or Bank verification, or when a customer doesn’t complete the verification. Our process successfully verifies income in 75% or more of cases. Want to see how it works? Contact us!”