Hope and Anecdata
Hope and Anecdata

Hope and Anecdata

But back to the topic at hand - so goes the economy, so goes housing - and many say so goes housing and so goes the economy. (View Highlight)

Right as I was leaving on this two-week odyssey, I wrote about what I was seeing in FHA portfolios with the death-cross from 30 to 60 days delinquent. (View Highlight)

While GSE delinquency is still low, FHA and VA delinquency are above pre-pandemic levels. (View Highlight)

Many Americans, including people in my family, use their credit cards for basic necessities. They try to pay off the balance each month, but it is increasingly hard to do so. (View Highlight)

Those “tiny” credit crunches matter when it comes to paying the big bills, and it is starting to show. Due to all the credit quality gospel singing, 99% of the people in my industry think this is no big deal. (View Highlight)

But, as credit scores have been inflated due to all of the stimulus and forbearance programs and moratoriums, how reliable are these models and their assumptions? Based on what I’m seeing by looking at the loan details, many in the industry are about to get burned. (View Highlight)

And guess what, if it is a FHA/VA (GNMA) loan you have to buy it out of the securitization pool to do a modification which means significant liquidity utilization. (View Highlight)

I said, well, it’s good now but with all these increases in taxes and insurance, we are going to see issues. He then proceeded to tell me that his daughter, a teacher, just realized after receiving her tax bill in TX that she would have to get another job as it was an extra $400 a month or sell her house. See the dissonance? (View Highlight)

More and more I realize that even though TX will likely be catastrophic, Florida could again be the epicenter. I spent most of 2012 there, and I have a feeling that will repeat to some degree largely due to the insurance issue. (View Highlight)

So, for instance, in Asheville, for every one property listed for sale there are 3 listed Airbnbs. Think on that for a moment. (View Highlight)