This Commentary has made a name for itself in covering breaking, shocking news that other, lesser outlets are too timid to even mention. “One day I hope to be wealthy enough not to do a double take every time I see abandoned furniture on the side of the road.” “Wealth” is an interesting concept, and while lenders carefully watch their locks, funding volumes, and margins, and what they’re worth (STRATMOR’s current blog is titled, “Doing Business with the Agencies: The Golden Ticket?”), individuals are doing the same thing. Loan officers from coast to coast tell me the same thing: With inflation continuing to outpace consumers' wage increases, their levels of debt are rising. According to the Federal Reserve Bank of New York, total U.S. household debt (mortgages, credit cards, car loans, and student debt) rose to $17.05T, with balances standing $2.9T higher than at the end of 2019 (before the pandemic recession). Fortunately, as an industry we did a great jobs financing and refinancing millions of borrowers into great rates (click on “Outstanding Mortgages” in the header then page down). (Today’s podcast can be found here and this week’s is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology and other services to the mortgage industry for almost four decades, helping transform the mortgage business. Interview with Stavvy’s Kosta Ligris on Remote Online Notarization (RON) and industry adoption of digital trends.) Lender and Broker Products, Software, and Services

Related Keywords

Times Square , New York , United States , Chicago , Illinois , Philadelphia , Pennsylvania , American , Paul Yarbrough , Jamie Dimon , Scott Harris , Tony Blodgett , Adam Quinones , Stavvy Kosta Ligris , Dave Gilbert , Phil Rasori , Rate Insurance , Wells Fargo , Chicago Financial Services , Census Bureau , Agency Forum , Wells Fargo Bank , Federal Reserve Bank , First Republic Bank , Mission Impossible , Richey May , Kosta Ligris , Remote Online Notarization , Broker Products , New American Funding , Dave Savage , Home Possible , Manufactured Housing , Presidential Transition , Contact Jim Depalma , Gigi Woods , Newrez Correspondent , Newrez Correspondent Lender , Guaranteed Rate , Guaranteed Rate Insurance , Banks Out , Improve Profitability , Current Market , Market Index , Philadelphia Fed ,