A report from the front lines of the secondary market.
I’ve just returned from the MBA Secondary show in New York, and I’m pleased to report that it was a bit like a trip to the candy store. An excellent experience!
The attendees were operating on all cylinders. This group came to work!
People were talking about selling their servicing and the new potential prices that investors are paying;
People were talking about selling their companies;
People were talking about new products such as a 90 CLTV jumbo (which I just so happen to be developing);
People were talking about making the transition from being a re-fi shop to a purchase shop;
People were talking about new products that are available for the purchase market;
People were talking about new second mortgage products;
People were passing out and receiving business cards at a dizzying pace;
People also talked about new modeling that is built on home 8% annual appreciation.
I’m pleased to say I saw a lot of familiar faces, and a lot of new faces too. Suddenly, it was almost like “the good old days.” But as I’ve written here before, the trees never grow through the clouds. My sense was that this crowd gets that. But it can’t hurt to hope that, just this once, those trees keep growing.