“Thirty years ago, we had Bob Hope, Johnny Cash, and Steve Jobs. Today we have no hope, no cash, and no jobs. We are all praying nothing happens to Kevin Bacon.” “Bringing home the bacon” is something that has become strained for tens of thousands in our biz when they lose their job. I’ve been deluged with Wells Fargo folks wanting to change their email to their home email, and while this has always given me insight (in advance, often) into companies closing, to be FTC compliant I don’t actually add emails: sign up personal emails here under the “subscribe” tab. Also, anyone displaced can post their resumes for free here where employers can view them for a nominal $75 fee for several months. Because, hey, there should still be a couple trillion in mortgages originated this year. Hear me out. Are you in debt? Join the crowd. U.S. households’ debt is now $16.5 trillion. Sensationalist headlines aside, it is up about 7 percent for the year. In the asset column, let’s look at one state, although I am sure that the numbers are compelling elsewhere. California has 2.4 million households free-and-clear of mortgage debt, the third-highest count among the states. (Today’s podcast is sponsored by SimpleNexus, an nCino company and award-winning developer of mobile-first technology for the modern mortgage lender. Today’s has an interview with Polunsky Beitel Green’s Marty Green on the Fed’s rate hike calculus and the disconnect between what the Fed is saying and what markets are predicting.)

Published On: January 12, 2023 / Categories: Mortgage News /