March 31, 2020 – Today, I am sharing the WHY behind the “new normal” that every real estate agent, home buyer, and home owner needs to know.
In a matter of 3-weeks, the entire mortgage industry has been shaken. On one hand, for loan officers (like me) we’re experiencing record loan volume (good for our business, right?), but on the other hand, owners and investors within the mortgage world are panicking due to the devaluation of mortgage-backed securities brought on by the FED buying billions in mortgage-backed securities. More so, investors are beginning to hedge the record high unemployment numbers brought on by COVID-19 impacting the value of their servicing portfolios by new (now higher risk) loans they are funding
Below, I explain in a simple, easy to read 20-point slide show what has taken place since COVID-19 was announced in America (February 2020), the damage it has caused in the mortgage industry (most consumers don’t realize this as all they see are low, low 30-year rates), and what you need to know as a real estate agent, home buyer, or home owner. Enjoy!
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