Webcasts, Capital Deployment, Dpa Tools; Ai And Borrower Trust; Interview With Vesta's Mike Yu

After a general summer lull, and with talk of JPMorgan Chase’s $750 billion housing investment rifling through our biz, mortgage conference season shifts back into gear with next week’s Western Secondary with plenty of events in September and October, so book those rooms. The last time you stayed in a hotel, or maybe you’re reading this right now in one, what color were the sheets and towels? A safe bet is “white,” and here’s why. Sheet psychology is one thing, but for lenders, M&A psychology is another. Yesterday an “industry source” wrote to me, “I learned this morning from Chuck Iverson that Mason Mac entered into an agreement to sell its Production Group to Place / Envoy Mortgage. They are announcing it to their employees this morning. They are also in talks with a group to buy their Corporate shell and Agency approvals. Not sure if their MSRs are going with the Production Team or the Shell Buyer. The deal with Place / Envoy was a private transaction (no transaction advisor) and they used Weiner Brodsky Kider for legal. Chuck plans to stay on with Mason Mac to help Mukesh wind down the business but will have an active role for a year or two, under a TSA Agreement, to support the Mason Mac employees transfer and integration into the new company.” (Today’s podcast can be found here. This week’s ‘casts are sponsored by Figure. Figure is shaking up the lending world with their five-day HELOC, offering borrower approvals in as little as five minutes and funding in five days. Figure has hundreds of partners in the Banking, Credit Union, Home Improvement, and of course, IMB space embedding their technology. Today’s has an interview with Vesta’s Mike Yu on being on the cutting edge of designing mortgage technology.)