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February 15, 2023
“I had a cousin who created a cold air balloon. But it never took off.” Like the intricacies of residential lending, few people are aware of the world of balloons. Meteorologists launch high-altitude balloons from the United States dozens of times each day. What’s more, weather balloons, are deployed twice a day, every day, at the same time from almost 900 locations around the world. Plenty of balloons fall to the earth. I really don’t like sensationalist headlines li...
January 5, 2023
While California girds its loins for an “atmospheric river and bomb cyclone”, readers should know that I sometimes ask myself, “Why can I remember the order of songs from an album 25 years ago, but I can’t remember why I went into the kitchen?” Yesterday I forgot that it was Ohio’s Union Home bought Michigan’s Amerifirst, not Guild. I apologize for the mistake… It’s all those “stable, multi-state, non-depository, residential l...
December 7, 2022
Let’s have a non-mortgage opening paragraph. Today is “Remember Pearl Harbor Day.” (If you like history, you gotta click on that link and see what is on there. Do a search.) The richest person in the world in the 1940s was Henry Ford, and when he died in 1947 his worth was about $200 billion in current dollars. (John D. Rockefeller became the first billionaire in 1916.) I mention these snapshots because one New Jersey industry vet wrote to me saying, “There are about ...