Freakabritt just leaked on twitter and reddit – Telegram
“Mortgages” only originate and finance mortgages and do not engage in “commercial banking” activities such as holding deposits, issuing checking accounts or making commercial loans.
When these companies went public, I expressed my astonishment and wondered why anyone would buy a stock based on profits drying up when the price goes up.
Sure enough, interest rates rose and profits quickly dried up – stocks fell!
The rocket hit $23 a share and is now nearing $10; American Financials above $11 and now below $2; and Guild Mortgage was at $18 before falling to $10.50.
But – the quintessential mortgage company crash is LoanDepot – which peaked at $31.50 and is now down $2.vist this site for more Information and hot news👇👇👇👇👇
NOTE: I know many very experienced loan officers, wholesalers, managers and/or executives at all of the above companies (including LoanDepot in particular) so this blog is discounting one of them