Ben Eisen
speaker
1,467 appearances
35 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Ben Eisen’s voice in public audio — every appearance, attributed to the second.
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Appearances
Yeah.
When you think of the full mortgage market, it's huge.
It's $11 trillion.
REITs, they're a few hundred billion dollars of mortgage-backed securities holdings, which means they don't own the majority of the mortgage market or anything like that.
But
There is definitely room to grow.
And I think one area to kind of watch here is the reform of the housing finance system that the Trump administration wants to overhaul.
Fannie and Freddie and bring more private capital into the mortgage market.
And so when you think about who is going to provide that private capital, mortgage REITs sort of have been doing this around the edges and maybe they will more so.
So it's an area to watch for sure.
Yeah, it's very difficult to make a profit on a mortgage when it is less than $70,000 or so.
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Some buyers say that they've been rejected by banks simply because of the size of the mortgage.
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And the reason it's so difficult to make a profit on a mortgage is the banks have sort of a fixed cost to originate it, income compliance and all of that.
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But the amount of money that they make on the loan grows with the size of the loan.
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So
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If you think about a small loan, your margins really compress or become non-existent when you're trying to make a loan of that size.
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Definitely.
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And when reporting out this story, one thing we really found was that this affects people in places where housing prices are otherwise very affordable.
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This is places in the Midwest, near cities like St.
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Louis and Chicago, Youngstown, Ohio, and also in the South, around Atlanta and El Paso, and also in more rural areas.
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Showing 1021–1040 of 1,467 · page 52 of 74
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