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“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 like “U.S. House Prices Plummet.” Especially when they’re false. Ask anyone who i...

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 lenders with strong management teams”… There certainly are a lot of rumors making the r...

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 720 billionaires living in the USA, almost 1/4 of worldwide billionaires. The Administration is hiri...