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I mentioned yesterday that 4 out of 3 people have trouble with math, but it doesn’t take a genius to do subtraction. 6 - .2 = 5.8, right? Wouldn’t you like to earn 5.8 percent on your money? The Federal Reserve reports that U.S. households are holding $17.9 trillion in cash and cash equivalents. If your credit union or bank is paying you (and other depositors) .2 percent on your bank account, but owns a portfolio of new Freddie or Fannie loans where borrowers are paying 6 percent, well, that is a darned nice spread. I know that I am simplifying that somewhat, but what bank wouldn’t want that? Along those lines, underwriters are keenly aware that the average monthly payment on a new car loan hit a record high of $686 in June. Household balance sheets are still in good shape after bolstering savings during the height of the pandemic, but we can expect those to ebb with inflation. (Today’s podcast is available here and is sponsored by SimpleNexus, an nCino comp ....
CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, California, announced the new hire of Area Sales Manager Ricardo Torres. A well-established originator in southern Texas, Torres will be driving the CMG market in the Rio Grande Valley.. ....
MCALLEN, Texas, May 19, 2022 (GLOBE NEWSWIRE) CMG Financial, a well-capitalized, privately held mortgage-banking firm headquartered in San Ramon, CA,. ....