Summer has officially come and gone; the autumn equinox was yesterday. Columbus Day, Halloween, Veteran’s Day, and Thanksgiving are in the coming months. Here in Chicago (which knows how to celebrate) I spent some time in preparation with Garth Graham of STRATMOR who is noticing the market reactions to the decline in interest rates. Many lenders are encouraged that this could be a bump up for purchase business, but Garth believes there could be a divide in who benefits from the pickup in the purchase market. Among his observations is that recent legal developments affecting the real estate agents may result in consolidation in that business even as the business itself picks up, which he explains in this article. While we’re on legal issue implications, the Loan Originator Compensation Rule has been a thorn in the side of the mortgage industry since 2011 and in his latest Mortgage Musing, comparing LO Comp to the Berlin Wall, attorney Brian Levy again criticizes this uniquely anticompetitive price fixing rule that prevents mortgage commission negotiation at the expense of all consumers. (Today’s podcast is found here and this week’s is Sponsored by Silk Title Co. Silk is for lenders who have centralized operations, are tech driven, process oriented, focused on the borrower experience, standardized in their approach, and most importantly… collaborative. Listen to an interview with ALTA’s Chris Morton on a the previously rejected Fannie Mae pilot program that would have waived the requirement for lender’s title insurance on certain refinances under the guise of lowering housing costs.)