Julie Harris, Wells Fargo, TIM discussed on Real Estate Coaching Radio
Three to one, and we are back as August the sixth. Hopefully you're having a fantastic day. Julie You've been on coaching calls we like to always break up the podcast. Right. We give you guys and we're intentionally giving you guys stories from our coaching calls what we're from our other coaches. What we're hearing from just all of our different private facebook groups every place where our. Coaching members and everyone else goes to discuss what's going on their markets. Julian are always calling the most relevant information from around the country so that we can then give you guys a real glimpse into the future and what we saw just to set you up. So it's easier sure as we saw probably about maybe we can have two weeks ago the nature of the questions from our coaching clients especially on the Premier coaching call, which happens every single day it's a daily life semi private coaching call happens right after this podcast by the way. The questions radically change. I. Would totally agree with that and in fact, yesterday we went an entire. On that call because there were so many. Complicated issues to be honest with you. Those are not close closing themselves anymore You know there's a definite trend amongst the lenders to be cracking down fairly severely on their requirements. So we heard about all kinds of you know you calm lender overlays but things like. An example would be a buyer was told that they could buy a Condo for ten percent down okay and that would normally be fine but three days before closing the underwriter says, you know what? The HOA hasn't been paid by about twenty percent of that population. Now, you've got paid put down fifteen or twenty percent. So before you guys fall into the trap of thinking just evil lender here's. The lender doing they are anticipating there'd be a market adjustment and by adjustment I mean they're not sure what's going to go on anymore than really any of the rest of us are but they're not expecting prices to continue to rise. They're not expecting unemployment to all the sudden go to where it was pre covid. They're not expecting there to be any kind of massive turnaround in the economy. There are mitigating risk ahead of time so they're doing and so if you WanNa know what the lenders are thinking and we put articles up on Tim and Julie Harris Dot Com. It's funny to that. These articles are never from like press releases or whatever they're anecdotal pieces of evidence that come from different sources and then eventually put all together. Then you realize well, guess what Wells Fargo is no longer doing million dollar above a revised unless you have a million dollars on deposits with Wells Fargo and there was another article that we put up on. Tim and Julie Harris DOT COM or I. Think, our reporters are working on it maybe today that's talking about J. P. Morgan Right?.