167: Mortgage Chaos with Aaron Kopelson
Young Wealth by The Jason Hartman Foundation
Release Date: 06/12/2020
Young Wealth by The Jason Hartman Foundation
Listen in at: http://jasonhartmanfoundation.org/articles/young-wealth-show Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: Free Class: Easily get up to $250,000 in funding for real estate, business or anything else: CYA Protect Your Assets, Save Taxes & Estate Planning: Get wholesale real estate deals for investment or build a great business – Free Course: Special Offer from Ron LeGrand: Free Mini-Book on Pandemic Investing:
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info_outlineBanks are worried, lenders are tightening up, and the overall mortgage process has changed. Aaron Kopelson discusses with Jason Hartman, some of the biggest changes he has seen in the last few months.
Key Takeaways:
[1:30] One of the mortgage lenders' current biggest fears, and reason for tightening up, is an early payment default or a first payment default.
[3:00] What is a jumbo loan, and what defines the limits per market?
[5:00] There’s no appetite from investors that want to buy mortgage-backed securities for these non-QM loans.
[7:00] Real estate is a credit backed asset. When the financing starts to dry up, so do the prices.
[10:00] Nobody was paid to put the breaks on and look at where we ended up (2008 recession)?
[11:20] Fannie and Freddie are allowing for drive-by and desktop appraisals.
[14:25] Is mortgage insurance allowed on investment properties?
[18:10] V.O.E. Verification of Employment
[19:45] What’s an overlay?
Websites:
Jason Hartman PropertyCast (Libsyn)
Jason Hartman PropertyCast (iTunes)
1-800-HARTMAN