Mortgage Lenders Failing

[GatorCatsi]

Interested to hear our resident mortgage-industry mavens views.

US Mortgage Lenders Are Starting to Go Broke

The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago.

www.bloomberg.com

 

[FireFoley]

Not a surprise. If you look at the publicly traded mortgage cos. like Rocket, UMC, Lending Tree their stocks have been shyt for a long time. They make their a good bulk of their money doing refi's and the refi game is completely dead. Then look at where Wells Fargo said they are really cutting the size of their residential lending operations and it is easy to see how the smaller private lenders would be going away.

 

[GatorCatsi]

Well, this will go well.

NBC News: “Bank of America announces zero down payment, zero closing cost mortgages for Black and Hispanic first-time homebuyers” – Investment Watch

www.investmentwatchblog.com

 

[FireFoley]

Well, this will go well.

NBC News: “Bank of America announces zero down payment, zero closing cost mortgages for Black and Hispanic first-time homebuyers” – Investment Watch

www.investmentwatchblog.com

MOM

Mentioned in the Investing thread days ago #602

 

[GatorCatsi]

MOM

Mentioned in the Investing thread days ago #602

Ha. And I responded to it, too!

Where's my focus factor?

 

[URGatorBait]

Well, this will go well.

NBC News: “Bank of America announces zero down payment, zero closing cost mortgages for Black and Hispanic first-time homebuyers” – Investment Watch

www.investmentwatchblog.com

Sounds discriminatory

 

[Concrete Helmet]

Sounds discriminatory

Why? 99.9999% of all DPA programs have been used by hispanics and blacks....

 

[URGatorBait]

Why? 99.9999% of all DPA programs have been used by hispanics and blacks....

I hearby decree that no cretes shall be afforded access to capital.

Cool?