![]() And with over 30 years of experience, Norcom has a vast network of inspection consultants to ensure a smooth transaction for you and your borrowers. ![]() With today’s limited housing inventory, you need renovation lending in your tool belt to assist your referral partners and win more business. Norcom has a dedicated renovation division which handles all underwriting, draws, servicing, and appraisal management in-house. Norcom Mortgage is excited to announce the addition of USDA Renovation to its already expansive renovation product selection, including 203K, Homestyle, VA Rehab, and more. This week’s is sponsored by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender.) (Today’s audio version of the commentary is available here and features an interview with Lori Brewer, EVP and General Manager of Simple Nexus on its new Nexus Vision BI solution. By the way, any mortgage employee can post their resume here for free, and employers can view them for a nominal fee. (I use the term “publicized” since there are many lenders doing the same thing that don’t make the national news.) The online mortgage startup, which didn’t make many friends when it took plenty of business from other lenders through its pricing, is firing about 3-4,000 workers, half its remaining staff, just months after laying off 900 workers. ![]() In unrelated, but related, news, was in the news again yesterday for another massive, publicized round of layoffs. In lending, some top lenders from previous years are long gone. Few companies last forever, and corporate history is littered with big names. I’m visiting with lenders and organizations in Tennessee much of this week, and a fair amount of the talk revolves around conversations with borrowers “unlocking the equity in their homes.” We’ve shifted quickly, which reminds me… What do Howard Johnson’s, Red Barn, Burger Chef, Beefsteak Charlie’s (I could go on… Farrell’s Ice Cream Parlor, Sweet Tomatoes, Chock Full o’ Nuts, although that is trying to stage a comeback…) have in common? They were all wildly popular and profitable, but went out of business. ![]()
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