Daren Blomquist
speaker
110 appearances
2 recordings
1 series
first heard Jan 2018
last heard Jan 2018
Daren Blomquist’s voice in public audio — every appearance, attributed to the second.
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Appearances
Part of the reason that those loans are low risk is just they were originated well and underwritten well.
But then another part that's helping them perform well is the market is continuing to go up, and that is tied to the low inventory.
That's pushing home prices further and further up.
So if someone does get into trouble on their mortgage, they have a lot of cushion in terms of home equity typically to work with to avoid foreclosure.
Well, yes, that's right, too.
But there are homes being purchased.
The latest data, existing home sales, it's not going up quickly, but we are at the highest level since 2006, so gradually getting higher and higher.
So homes are being sold faster.
But part of it is the loans are better.
Part of it is we do see still a higher percentage of cash sales than we did during the last housing boom, around 28% to 29% cash sales.
And, of course, if you're buying with cash, you're not at risk for foreclosure at all.
Yeah, there were a few states where we saw that increase.
One of them, which is not really a state, but the District of Columbia did see an increase, a sharp increase in foreclosure starts.
Another couple that stand out are Oklahoma and West Virginia.
But certainly those were the exceptions to the rule.
In D.C., we see a very prolonged foreclosure process causing a lot of delays.
And what we believe there is delayed distress finally coming through from the last crisis.
Places like Oklahoma and West Virginia probably are a little bit different.
It may be tied to more economic weakness in those areas.
And that historically has been the main reason for
Showing 21–40 of 110 · page 2 of 6
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