Wells’ Layoffs; CRA Survey; Upcoming Training/Events; Jumbo News

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Posted To: Pipeline Press

Experienced loan officers know that much of their success is a number’s game: W number of cold calls result in X number of potential leads, X number of potential leads result in Y applications, and Y applications turn into Z closings and commissions. Hedging a pipeline is a numbers game as well. As a loan progresses through the pipeline, its odds of funding increase. One data cruncher looked at over 42 million applications to see if he could determine a mathematical formula , given loan purpose, rate, property type, occupancy, etc., to calculate the outcome. Worth a skim for anyone involved in analyzing processing costs or hedging. Not good news Out of Fort Mill, South Carolina comes news that Wells Fargo Home Mortgage (not Wells Fargo Funding – the correspondent arm) is laying off 100…(read more)

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