An imminent banking crisis looms where 1.5 Trillion in commercial mortgages are ballooning in the next 3 years with banks only able to service a fraction.
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All banks illiquidity is front and center on the news everyday with SVB collapse. This is causing banks to stop taking on new loans.
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Covid caused losses on tax returns for 2 years which banks, credit unions, and traditional lenders cannot fund.
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The secondary market often called wholesale or bank alternate lenders are invisible to the general public as they do not advertise on TV or radio the way banks do opting to use mortgage brokers for visibility and originations.
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The 2008 residential mortgage collapse wiped out the mortgage broker industry reducing numbers substantially.
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Back to bank illiquidity, banks simply can’t foreclose on thousands of properties having bloated balance sheets already. It’s like giving a drowning man an anchor.
"The secondary market, wholesale, and private lending community is prepared to shoulder the load without federal and tax payers help avoiding what happened in the 2008 residential mortgages collapse" says Envestion founder Chris Perez. "We are already positioned and this is merely a matter a visibility as the secondary market is nearly invisible to consumers.”
At Envestion, our lending partners have much more risk tolerance as private companies because we do not have depositors or as many regulatory constraints as a bank. Our group is prepared to move vast sums of mortgages alleviating the load and pressure on bank’s balance sheets which may be over-leveraged, real or fear induced, thus moving loans into private pools. We are ready to fly and no collapse will happen or bail out needed if we act now informing borrowers there are safe havens for their immediate refinance needs outside of the traditional banking system or facing foreclosure.
