"Mortgage servicers have consistently maintained this strategy of not foreclosing on jumbo mortgages. What seems crystal clear is that the vast majority of long-term delinquent jumbo mortgages have not been foreclosed and are still outstanding. Many jumbo borrowers have not paid for years."
https://www.marketwatch.com/story/this-ghost-of-the-housing-bubble-still-haunts-the-home-mortgage-market-2020-01-15?&mod=home-page
The Fed began ramping up its purchases of mortgage-backed securities last June and began expanding its balance sheet in September by aggressively purchasing Treasuries to keep interest rates from spiking.
We've all been busier than a one-legged woman in an arse kicking contest for the past several months. How long can the party last and how big will the hangover be? |
