The apartment building values started to plummet as much as 40%. Apartment and multifamily properties peaked in May 2022 and started falling since then. Besides plummeting apartment building values, foreclosure of apartment building properties are skyrocketing to 2007 levels. The numbers of apartment building values plummeting and soaring foreclosure rates vary from city and state. We will cover more in this breaking news as more develop in the coming days and weeks. Besides apartment building properties, values of commercial properties in general have and are plummeting at record levels.

https://youtu.be/QuDEubYPMoM?si=sYcSVFDyYmK1MeBC

• This discussion was modified 8 months, 4 weeks ago by  Gustan Cho.

What does recission mean in the mortgage process?

The Bureau of Labor Statistics forecasts a 2.9% employment growth for mortgage loan originators between 2022 and 2032. During that period, it is forecasted 10,400 jobs in the mortgage industry should open up. Licensed and registered mortgage loan originators advise, authorize and recommend loan approval for individuals and businesses. According to data from the U.S. BUREAU OF LABOR STATISTICS tens of thousands of loan officers LEFT the mortgage industry in 2023 due to inflation, surging mortgage rates, and housing shortage. In October, 2023, 67% of current mortgage loan officers produced less than one unit of closed loans in October. 21% of loan officers closed 1.5 units per month and only 12% of mortgage loan orignators closed greater than 2.5 units. The mortgage industry was decimated due to the economy, high rates, and inventory shortage. Very few from the work force sought work in the mortgage lending industry. According to the Nationwide Mortgage Multistate Licensing System, in the second quarter, there were 24.5 percent fewer individual licenses awarded for mortgage lenders. That means people are leaving the mortgage industry altogether permanently. More loan officers are expected not to renew their NMLS licenses or leave the mortgage industry.

In all of 2022 and through the first half of 2023, the average mortgage lender was not profitable and lost money on every mortgage it originated. In first quarter of this year, the average loss was $1,972 per mortgage loan. In the second quarter, the size of the loss improved to $534 per loan.

Realtor.com, the real estate listing and informational website forecasts the housing market will continue to struggle in 2024 and mortgage rates will average 6.8% in 2024, and possibly drop to 6.5% by the end of 2024. This is not promising news because mortgage rates were at 2.5% just two years ago. Loan officers are expected to have a tough road ahead because consumers have not adapted to this sudden hike in rates. Until the mortgage rate of 6.5% is accepted as the new normal, the mortgage industry will continue to struggle and more loan officers and mortgage companies are expected to leave the mortgage industry. There were a total of 160,000 licensed and registered mortgage loan originators. 50,000 loan officers have exited the mortgage industry and more are expected to leave this year by the second quarter. There are 90,000 mortgage loan originators left in the mortgage industry today but that number is forecasted to drastically get reduced to as much as 40,000 so only 50,000 loan officers is forecasted to remain in business.

https://www.youtube.com/watch?v=C9BdPHXKHfE

When we access anything in computer , it generated many temporary files and we need to remove those to speed up your computer. below are step to remove or delete those temporary files

1. Write Run on Search area .

2. A window appeared , write %temp% and click Ok

3. Select all ( ctrl key+A )and click on delete key

The biggest fear of electric car owners is running out of electric charge and being stalled. If you were to travel interstate cross country on your electric car and there are no charging stations, what do you do? Here’s a relative of California Governor Gavin Newsom rigging a generator in the back of his electric car because he had enough getting stranded multiple times during his long commute to work. He has a generator and a gas can full of fuel for the generator

Poor rookie firefighter 🚒 hired from Miami as a probationary fire fighter recruit in Wisconsin.

https://www.facebook.com/share/r/qjMHyQ9dGSLDMhAd/?mibextid=nnhLG8

facebook.com

Thought this classic was fitting #stealthperformance #powerstroke #cummins #duramax #diesel #diesellife #dieselbrothers #ford #truck #chevy #dodge #dieselnation #dieselpower #trucknation #teamdiesel #powerstrokediesel #powerstrokenation | Stealth Performance Products | Lil Wayne · Mrs. Officer (Album Version (Edited))

Thought this classic was fitting #stealthperformance #powerstroke #cummins #duramax #diesel #diesellife #dieselbrothers #ford #truck #chevy #dodge #dieselnation #dieselpower #trucknation...

Here is breaking news about our politicians

Barack Obama slips calling his transgender football player wife with balls Michael and I. LOL

https://www.tiktok.com/t/ZT8pwjuWq/

• This discussion was modified 12 months ago by  Randy.

I am looking at buying a RVPark- that is currently cashflowing at a 7.5cap – I am looking at changing the model a bit and infusing capital plan to add capsule airbnbs and boat storage (20) frames are already built. The Property is 10 acres – less than 2 miles from a lake that has over 6 million visitors a year. It is located 30 minutes from 2 of the largest casinos and also 3 state parks. I am wondering if someone could finance on projected dscr. Any help would be great. I will post some designs of the homes and some of the land later today.

Sammy Gravano explains how President John Kennedy got assainated in detail.

https://youtu.be/m3JeMuEMomw?si=6ESC34OVqVHROIcB

I am seriously thinking investing a substantial portion of my liquid assets to precious metals. What would you recommend between Gold and Silver to invest?

Danny Koker of Counting Cars 🚗 😎 was very popular. However, Danny Koker fell off the face of the Earth. Anyone know whatever happened to Danny Koker of Counting Cars?

Illinois is losing taxpayers by the tens of thousands. People who lived in the state for generations are calling it quits and planning on relocating to another low tax taxed with affordable housing and a lower cost of living. Many Illinoisians have no choice but to live in Illinois because of careers, family, or because they call Illinois home no matter how bad the state of the economy is. Chicago is one of the most beautiful cities in the world if not the most beautiful. In this sub-forum, I like to cover why are people fleeing Illinois and what the opinions of our viewers are where we can save this great state from going further down hill. Here is an article recently updated on the state of economy of Illinois.  Here is the link Why Are People Fleeing Illinois?

Gustan Cho Associates is a mortgage company based in Oakbrook Terrace, Illinois, founded by Gustan Cho NMLS 873293. Gustan Cho Associates NMLS 2315275 is a dba of NEXA Mortgage, LLC, the nation’s largest mortgage broker NMLS 1660690, headquartered in Chandler, Arizona and headed by Chief Executive Officer Michael Kortas aka as CEO Mike and CEO Kortas. Over 80% of the borrowers at Gustan Cho Associates are borrowers who could not qualify at other mortgage companies due to a last minute loan denial due to lender overlays, stress during the mortgage process, or because the lender did not have the mortgage loan program or was not licensed in the state the borrower needed a mortgage loan. Gustan Cho Associates has a national reputation for being able to do mortgage loans other lenders cannot do. Gustan Cho Associates and its subsidiary companies specialize in providing a variety of mortgage options for home buyers and real estate investors, including conventional loans, FHA loans, VA loans, USDA loans, non-QM loans, alternative lending options, commercial loans, hard money loans, bridge loans, SBA loans, business loans, all in one construction loans, overseas land development loans, and any other loans that is based and collateralized with real estate. The company aims to offer personalized service to clients and help them navigate the mortgage process efficiently. Please note that as of the last update, Gustan Cho Associates is thriving and growing during the toughest real estate market in the history of the United States. Gustan Cho Associates is licensed in 48 states including Washington, DC, Puerto Rico, and the United States Virgin Islands (New York and Massachusetts are pending states and should be getting licensed later 2024 or early 2025. The information about Gustan Cho Associates has been verified and is accurate, but there may have been changes since the publication of this post.

Federal Reserve Board Chairman Jerome Powell gets grilled by Louisiana Senator John Kennedy and seems like his asshole is puckering. Jerome Powell gets owned and called out by the Louisiana U.S. Senator and becomes speechless sometimes during the grilling session. Incompetence and lying is not being condoned by Senator Kennedy. Jerome Powell is the main reason for the destruction of the U.S. economy.

https://www.youtube.com/watch?v=RpQSv7cvqRY

Seems like everyone is an expert in the media where they say that mortgage rates are still low. Jim Kramer of CNN is the biggest liar and bullshitter who has great talent. Jim Krammer talent is lying with a straight face on national television on how great the economy is, how inflation is under control, and how mortgage rates are still low compared to 1980. All of these liberal clowns need to shut down their clownshow and get off the air. What are your thoughts of mortgage rates forecast in the coming months through 2025? What are your thoughts of inflation, the housing market, the stock market, the dollar, unemployment, and investment opportunities?

What is the difference between manufactured versus modular homes?