Ryan Dezember
speaker
644 appearances
11 recordings
1 series
first heard May 2018
last heard Jun 2024
Ryan Dezember’s voice in public audio — every appearance, attributed to the second.
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Appearances
And then sort of the newer thing is to buy the loans that are generated by the originators.
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KKR, Goldman Sachs, some other big investors are involved in that.
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Yeah, they're double, triple, maybe even more a typical mortgage.
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Usually start around 8% and upwards of low teens is pretty common.
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So they're very attractive in an era of low rates.
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And as you mentioned, the turnover is very fast.
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Sometimes these loans, KKR's portfolio, they turn over in an average of about seven months.
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Yeah, yeah.
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And it's up to the borrower has to either sell the house to pay it back, or a lot of cases, these homes are being rented, so they have to line up refinancing.
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Yeah, that's true.
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That's the big risk.
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And so far, the default rates have been pretty low on these loans.
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I talked to one firm that we mentioned in the story that they bought about 200 of them over the last year or so.
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And they've had to take possession of about four properties.
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There's been some loans that have been bundled together in securitizations and bonds.
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And those have reported similarly low default rates.
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Now, of course, these haven't been tested in a down market.
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Real estate prices are running up.
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There's a shortage of homes, particularly on the low end.
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And so we haven't really seen how these will perform in an uneven market.
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Showing 601–620 of 644 · page 31 of 33
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