Posted To: Pipeline Press

Lenders are “tonning it,” as indicated by Fannie Mae’s net income of $2.5 billion for the second quarter of 2020, compared with net income of $461 million for the first quarter of 2020. But with most of us hunkered down, the economy continues to hunker down as well, as shown by GDP down nearly 33 percent. Why own stock in United Airlines – flying somewhere? Few need to buy new clothes anymore. Or a wristwatch. Not everyone should eat more candy. (What do you think is going through the minds of candy manufacturers whose sales always zoom up in October… are we going to be “back to normal” in three months before Halloween?) As opposed to politicians, every originator will tell you that not everyone should own their own home. (By the way, President Trump…(read more)

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Source: Mortgage News Daily