Happy T-Day! It's a great state and the people are friendly, my paternal grandparents are laid to rest there and my family roots go back to the 1800's there. I look forward to meeting you sometime in the future.
The fallout from the 2000's real estate boom and bust are still affecting us to this day. As Plantiff shareholders we come to court with the cloud of having been at the center of the economic dislocation that brought the world economy to its knees, took advantage of uneducated poorer inner city homeowners and others with predatory loans, and saw millions of people wiped out through the lure of easy money and real estate speculation, that at the time seemed a sure thing.
The problem with being a mortgage loan officer is that it is almost entirely dependent on the future direction of interest rates and can be a feast or famine situation. Dodd Frank and other post GFC legislation took away alot of the more egregious excesses of the boom leading up to the GFC, so much so that lenders largely cut off the lending necessary to meet the natural demand in Housing from obsolescence and population growth. Freddie Mac and nar estimate a shortage of 3 to 5 million housing units.
Taking away all the capital from the gses for 7 years only magnified the tightness of lending underwriting as the gses are forced to take only the most conservative underwritten loans since they have so little capital.
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