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A bank is a place that will lend you money if you can prove you don't need it. - Bob Hope
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Roland Scott
3.4K posts
Roland Scott
@brawndoadvisors
Housing for everyone. You, me, and the family down the street.
Denver, CO Katılım Ağustos 2021
144 Takip Edilen201 Takipçiler
@mortgagetruth Gen Z are first time buyers, this will be a disaster for them. I also don't see realtors wanting to accept those offers for a variety of reasons, mostly due to no LO pushing the buyers every day to get tasks done. Contract extensions galore.
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Beeline has launched its "Self-Service Mortgage Experience" that cuts out the loan officer.
Customers can navigate the mortgage process 24 hours a day w/o speaking to a loan officer unless they choose to.
Designed w/ the modern homebuyer in mind, namely Millennials and Gen Z.
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@mortgagetruth So much earnest money is going to get incinerated here…
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It’s raining. In December. In Colorado.
End of days stuff.
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I’ll always remember that in 2002, MTV lied to Michael Jackson to gain viewers & boost their ratings by inviting him to the VMA’s to receive the “Artist of the Millennium" award. Then they tried to gaslight us by calling it a “misunderstanding” & mocked him at the ‘03 VMA’s.
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@CREID2852 @conorsen Oh Jesus. A reasoned take…
Get it out of here.
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@conorsen So we are NOT in for a 2007 - 2010 type crash but a slow housing market for a few years.
The BIG difference in 2025, EVERYONE who bought before 2022 still has equity and some cases A LOT of equity.
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The 2022-25 buyers have 6%+ mortgage rates and mostly haven’t built much equity (Texas/Florida/Arizona buyers have probably lost equity). It’s a source of potential stress.
Nick Gerli@nickgerli1
6) The mortgage rate "lock-in" effect, which has suppressed inventory on the for sale market, eases with each passing day and month. By the end of this year, it's likely there will be more mortgage holders in America with a 6%+ rate than a sub-3% rate. Meaning more owners will feel the financial pressure to sell due to a higher mortgage payment.
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@RealJohnGaltFla It's not that it's taking into account only a two year period. You still get the full history.
It's just weighting the balance and payment pattern over that shorter duration to account for cash flow issues. That's exactly where your risk issues come up.
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Two years is an insufficient time period IMHO, however I'll defer to my housing friends to dissect this further. I would want 10 years so if a BK occurred post-BK spending and payment patterns could be put into the calculations.
As it is, current FICO is already diluted somewhat.
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2006 desperation phase
GIF
Polymarket@Polymarket
JUST IN: Fannie Mae & Freddie Mac to implement more "inclusive" and "equitable" credit scores.
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@brawndoadvisors Yeah it's a nightmare. Vantage does a horrid job for estimation of potential risk over duration. And since GSEs don't give a crap because it's taxpayer money, yeah it's a stupid idea.
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@Polymarket We don't read in America anymore, which is sad.
It just allows folks to use lines that don't show up on reports. I guess I had no idea everyone was adamant about everyone getting credit cards. 🤣
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JUST IN: Fannie Mae & Freddie Mac to implement more "inclusive" and "equitable" credit scores.
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@DntTaxes @ShortSeller Careful, buddy.
He was one of several billion on earth at the time of the GFC to survive it and live to tell the tale.
Perspective.
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@VladTheInflator @angelalynn723 Burnnnn.
Too much for even the fringe. Let’s just call a 99% reversion.😂
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@HomeLoanBill 30 years of collective playoff disappointment between these two.
Something has to give.
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"Slow down, boss. That's a little too wild, even for me..."
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@HomeLoanBill ‘Just no math to support that.’
I’d really question my mental health situation if I heard that from said source.
Go Cowboys.
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@slantofreality @ThinkAppraiser @MatrixMysteries If I loaned you $100 and required you to pay me 50 cents a month for the privilege, would you consider that usury?
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An American buys a $784,000 home with a $5,700 monthly mortgage.
After 4 years and $285,000 paid, only $50k hits the principal.
$230,000 is PURE interest.
Over 30 years she’ll pay $1.6M for a $784k house.
This isn’t “homeownership” — it’s usury.
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@slantofreality @ThinkAppraiser @MatrixMysteries Of course you do. You pay on the balance owed and you owe more at year 30 than 15. All while the payment stays flat…
How do you think this should honestly work?
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@brawndoadvisors @ThinkAppraiser @MatrixMysteries You pay interest first more than anything during the earlier years of the loan, etc.
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@ThinkAppraiser @MatrixMysteries Front loaded interest sucks. They don’t call it a mortgage for no reason.
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@ThinkAppraiser There’s ways to refinance (ask your broker) without incurring costs.
She just picked up the call from the rocket man phone bank and made a poor choice suggested by the barista turned phone burner.
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I made the mistake of listening to the video and it’s even dumber than just the headline
She refinanced a 6.2% mortgage into a 5.6% mortgage
She paid $11,000 in fees that they tacked onto the balance of the mortgage
You never want to refinance unless you can save at least one percent on the interest rate
This is so many levels of cringe
It’s like a seven layer cringe burrito
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I swear to God man, people are so dumb
And obsessed with sharing everything on social media
So we get these glimpses into their empty brains where they learn things that are common knowledge, and they learn them for the first time
It’s beautiful and tragic and frustrating
MatrixMysteries@MatrixMysteries
An American buys a $784,000 home with a $5,700 monthly mortgage. After 4 years and $285,000 paid, only $50k hits the principal. $230,000 is PURE interest. Over 30 years she’ll pay $1.6M for a $784k house. This isn’t “homeownership” — it’s usury.
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Pulling your house off the market is the dumbest thing you can do.
Just drop the price.
If you pull it off the market you’re almost guaranteed to sell it for less money than if you kept it on the market and dropped the price to where you found a buyer.
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@StealthQE4 We need more rage delisting and patience.
Keep up the good work, homeowners.
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