Non-QM Poised to Take Over
all I can do is advise all the lenders downsize, payoff debt, get in really good situation. then make as much as you can in the run up, invest into metals and take possession. A good time to watch Peter Schiff’s 2006 Mortgage banker conference speech. ID the trends and plan according. the scary part is the parts of the US that were not exposed to the run up in 02-08 will be included. whole bunch of net proceeds being used to drive up prices, even in my local area of Montana.
you fail to state that interest rates also fell dramatically in the last 20 years, which has kept home ownership affordability in better shape than what you portrayed in your report.
Thank you for this report. I agree there are not enough originators talking about non-QM. The need to speak intelligently about them will be here before LO’s realize it. I use the medicine cabinet analogy: I certainly prefer to have pain meds and flu remedies already in the house rather than having to drive out in the middle of the night when I’m already sick.
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