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Do you know what “splooting” is? Here’s a hint: 4-legged animals do it. (Hey, I don’t make these things up.) Quite the word. Words are very interesting, and can incite a riot, help someone get through a loss, make up this Commentary, entertain. Every morning I share my Wordle results with a few friends, comparing who was able to find the 5-letter word of the day in the fewest tries. For the most part Wordle is quick, fun, and mildly entertaining, which is the exact opposite of financing a home as any borrower or loan originator will tell you. Originate? “Origin”: source, inception, root means the point at which something begins its course or existence. Origin applies to the things or persons from which something is ultimately derived and often to the causes operating before the thing itself comes into being. “ate” is a suffix meaning “state of quality of” and when added makes an adjective a verb. Originate, tolerate, ....
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 dollars in your retirement account and bought loanDepot at the high, it would now be worth $79,500. But remember that these stock prices reflect what is happening in the entire industry, ....
/PRNewswire/ Planet Home Lending, LLC, (Planet) a national mortgage lender and servicer, has hired Steve Landes, EVP – Corporate Initiatives; Brandy Walton,. ....