A recent Housing Wire article entitled “Specter of the S&L crisis haunts today’s mortgage market” discusses the similarities of the current environment with the tumultuous period of the 1980’s. At that time 747 of these institutions were closed accounting for almost $500 billion in mortgages. At the present time similar pressures are building for independent mortgage banks (IMB’s, which are nonbanks). Many of these institutions failed to heed the historic example and Richard was quoted as saying “Many (IMBs) expanded operations during an unsustainable refi boom…”
As the brewing economic storm becomes more apparent it’s essential that financial institutions have at their disposal both cutting edge data and analytic tools, as well as the expertise of experienced analysts. Recursion is uniquely situated to provide such services at affordable price points.
If you would like a copy of the article, please reach out to email@example.com.