Yes, we are going to have to worry about mortgage debt, too. To say the nation&#x27;s largest private mortgage originator had a bad week is an understatement. But what did the company&#x27;s stock plunge tell us? Not subprime 2.0. Instead, a familiar tale spreads yet again. Eurodollar University&#x27;s conversation w/Steve Van Metre ---------------------------------------------------------------------------------- What if your gold could actually pay you every month… in MORE gold? That’s exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month. Check it out here: https://monetary-metals.com/snider ----------------------------------------------------------------------------------- If you want to see The Four Economic Regimes, and How to Position Your Portfolio for Each One, sign up here https://eurodollar-university.com/home-page ---------------------------------------------------------------------------------- https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU I’ll also be active on Bravais Social - a new AI-centered social network designed for professionals and knowledge workers. The platform aims to bring together a wider range of tools and functionalities tailored specifically for professional interaction, research, and knowledge exchange in one place. You can find me here: https://bravais.social/profile/edu

BREAKING: The Biggest Private Mortgage Lender Just Crashed 49%!!

Eurodollar University

Shares of the country's largest private mortgage provider absolutely tanked this past week. A company called United Wholesale Mortgage reported a significant loss, along with cutting its dividend down to zero for the first time since it went public. And now we have to worry about mortgages in the same way that we've been worrying about the overall credit cycle. We've been talking about private credit, we've been talking more recently about public credit in the corporate space,

and now the same behaviors that we've been observing and cataloging over there are being found in mortgages. Now to be clear, we're not talking about subprime mortgages and some shooting up of delinquencies. What we are talking about is growing macroeconomic stress that is placing constraints and hardships on the mortgage space in very familiar fashion to the rest of the debt markets.

So we've got a consistent story that's building to the point that it is now spilling over from private credit into public credit and from public corporate credit into the mortgage space. Yes, we have to worry about mortgages. So Steve, now we're going to start talking about mortgages. We've been talking about the credit cycle. You know, we've got private credit was the big one, which, you know, middle market corporate debt, that's what we've been talking about and focusing on for the last year or so. More recently, the public markets have been showing signs.

You've seen public credit spreads kind of creep up there, especially the triple C's. Now you've got the hyperscalers like Amazon and Alphabet issuing bonds with investors saying, I'm going to need a little bit more yield before I buy this stuff. And now we're going to talk about mortgages.

BREAKING: The Biggest Private Mortgage Lender Just Crashed 49%!!

Read the full transcript

The candid version is on a podcast,
not the earnings call.

BREAKING: The Biggest Private Mortgage Lender Just Crashed 49%!!

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.