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Who Broke The Mortgage Market And When Will It Be Fixed?

Posted To: MBS Commentary

I will do my best to speak to both consumer and mortgage industry people on this topic. It affects everyone. With that in mind, the following is a list of questions that loan originators have been asking. Consumers might not be familiar with all the terms, but the rest of this article will speak to everyone. Why are so many non-QM lenders raising rates or disallowing new apps? Why can't I do cash-out non-QM or Jumbo right now? Or Non-Owner, high LTV, low FICO? Why are my FHA/VA rates suddenly terrible? Why am I suddenly seeing MASSIVE hits for certain FICO/LTV combinations? Why am I suddenly hearing more than I've heard since 2008 about lenders potentially being in trouble? Why are lenders changing rates MASSIVELY from day to day? Why are different lenders so far apart from one another...(read more)