Insurance, eVault, Defect Rate, Warehouse Products; Easy-to-Understand Basis Risk Primer
There are strange things going on out there. Revlon filing for bankruptcy. Atlanta’s mayor calling for limits on investors buying homes. Delta Airlines limiting the amount of time you can spend in its lounge eating cubes of cheese and lukewarm chili. Many high earners are living paycheck to paycheck . What isn’t strange, unfortunately, is lenders’ net worth plummeting, and a good indicator of that is the price of publicly held stocks. loanDepot, which had a high of about $22 per share, hit $1.75 yesterday. Guild Holdings was over $17 per share, now near $10. Rocket over $23 per share now in the mid-$6 range. UWM over $13 per share at one point now in the low $3 range. It is the same story for Homepoint, Mr. Cooper, PennyMac, Finance of America… If you had saved up $1 million do
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