“Alexa, where’s my damn package?” (Page down 3-4 times to the video.) Life is full of surprises, good and bad. Rates aren’t a surprise… The U.S. Federal Reserve can only do so much about inflation. Geo-politics are a big deal, of course, and there is nothing our Fed, tasked with maintaining economic stability in this country, can do about those. Vendors and lenders are doing what they can, cutting over-capacity and expenses. Capital markets staffs everywhere are interested in which investors have pushed out the $2,500 Freddie and Fannie month-old HomeReady credit, as well as non-QM, jumbo, co-issue, and servicing buyers. (STRATMOR’s current blog is titled, “It’s 2024: Do You Know Where Your Servicing Is?”) Speaking of capital markets, today’s TMC Rundown features Mutual of Omaha’s Matt Nyman. (Found here, this week’s podcast is sponsored by Truv. Truv lets applicants verify income, employment, assets, i
Our Federal Reserve doesn’t control events around the world, like a ship being stuck in the Suez Canal, or the current Red Sea geopolitical aggression, which can impact our inflation rate or how much money companies or individuals earn. The world changes. What was it like going to a concert 60 years ago? This will give you an idea. Concerts have become huge moneymakers. Along those lines, but in a different industry, the Financial Times reports that JPMorgan took almost a fifth of total US bank profits in the first nine months of 2023! Too big to fail? For those playing along at home, the ten largest banks, when that concert was filmed, were Bank of America, Chase Manhattan Bank, First National City Bank of New York, Chemical Bank New York Trust Company, Morgan Guaranty Trust Company, Manufacturer’s Hanover Trust Company, Bank of California, Security First National Bank, Banker’s Trust Company, and First National Bank of Chicago. Now the list is JPMorgan Chase, Ban