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This is going to be so ugly. What happens when the till 🤑is closed?

Melody Wright I have one FHA in my portfolio that has had a partial claim or a loan modification 4 times since I arrived in late 2022. The merry-go-round of free money mods is about to stop.

"The office rate surged another 86 basis points in May to 15.76%" Trepp

"Dimon guessed that, overall, Chase has probably lost money on mortgages in the past 50 years" Tracks...since the GFC it's nearly impossible if you are doing it right No one I talk to looks at life-of-loan profitability If they did, they wouldn't be in the biz

These artificialities bend realities, and worse, lead to an economy dependent on non-private sector support (away from the banks and capital markets where credit provisioning is weighted against risks). Either from fiscal largesse, heavy dosages of Fed liquidity (or both), and/or

Melody Wright Listing agents are sobering up. I’m hearing rumblings of passing up over-priced listings locally. Often costs a whole lot more than $500 for a listing startup. The ongoing costs can eat them up too. It’s a tough pivot for listing agents right now.

How it happened...

For folks getting all excited about mortgage applications...remember, they have to be approved Don't forget that 41.8% mortgage refi rejection rate reported by the Fed in Feb And what about those credit score drops from delinquent student loans? The consumer is buckling

This should turn out well <s> Searching under every nook and cranny to keep that Gain-on-Sale flowing - From Inside Mortgage Finance cc: Porter Collins

This has been a rumor I have been hearing at the credit company I advise. Eff me... it's real.... Heard a few clients talk about this and I was like... no... they can't... they won't... right? They are. 👇 And wanna know how many borrowers are at that level? I do: Based on a

🚩You can rack up thousands in BNPL debt, and no one, not even credit bureaus, will know. That’s not convenience. That’s phantom debt - and it is lethal. Here is how BNPL is distorting risk, inflating demand, and quietly reshaping the foundation of the U.S. credit system:

Thank you Kalani o Māui for your amazing contribution Your love for your homeland is inspiring ❤️

"Even investors, who typically pay with cash, have increasingly turned to mortgages. Some 62.3% of home purchases by investors in 2024 used all cash, the lowest share since 2008, according to Realtor .com" -Inside Mortgage Finance

#ResearchRevolution 👇

"Temper your expectations sellers and understand many of you have seen unprecedented returns this past decade. You may be able to squeeze out top dollar in some of these stronger northeast/midwest markets for the time being, but your days are numbered" 👇