- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1
Posted on 4/3/20 at 5:58 pm to HowboutthemTigers
Wells Fargo pulled out of funding all Jumbo loans effective today. Jumbo and non-QM loan products are going to be extremely difficult to find because investors are running away from purchasing them right now.
Look for some major non-bank lenders who also service loans to go out of business over the next 45-60 days if these loan foreclosure moratoriums aren't lifted. Quicken, loanDepot, Freedom Mortgage, Mr. Cooper are all in deep trouble right now as they don't have sufficient capital reserves and they are still responsible to pay the investors their money. Non-bank lending and mortgage brokerages are about to see another 2008 coming very quickly unfortunately.
Look for some major non-bank lenders who also service loans to go out of business over the next 45-60 days if these loan foreclosure moratoriums aren't lifted. Quicken, loanDepot, Freedom Mortgage, Mr. Cooper are all in deep trouble right now as they don't have sufficient capital reserves and they are still responsible to pay the investors their money. Non-bank lending and mortgage brokerages are about to see another 2008 coming very quickly unfortunately.
This post was edited on 4/3/20 at 6:00 pm
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News