Random thoughts that don't warrant a thread

[52-80 19333]

30 minutes ago, nnm said:

Good question. WaPo has an article explaining it but I don’t have a sub so can’t read it:  https://www.washingtonpost.com/news/wonk/wp/2015/07/16/how-railroads-highways-and-other-man-made-lines-racially-divide-americas-cities/

reddit says this.  …

Im surprised neither of them ascribed it to climate change

[NWBuck 8605]

36 minutes ago, nnm said:

Good question. WaPo has an article explaining it but I don’t have a sub so can’t read it:  https://www.washingtonpost.com/news/wonk/wp/2015/07/16/how-railroads-highways-and-other-man-made-lines-racially-divide-americas-cities/

Here's a "gift" link to that article: https://wapo.st/4ich2HH 

[Iceman 2857]

@UTPhil2006 but anyone else can answer too:

Our mortgage is 5 years old and has had 3 different banks, starting with Wells Fargo and progressively getting more obscure. We have never been even a day late on payments.  It is paid on autodraft the first of each month, Our credit scores are excellent. The third entity, Mr Cooper(WTF?) took the mortgage starting 1DEC24.

1) why does the mortgage keep getting traded around?

2) When these transactions are done from one institution to another, do they have to put some good loans in there to offset the riskier mortgages in the deal?

 

[Rimbo 26680]

5 minutes ago, Iceman said:

@UTPhil2006 but anyone else can answer too:

Our mortgage is 5 years old and has had 3 different banks, starting with Wells Fargo and progressively getting more obscure. We have never been even a day late on payments.  It is paid on autodraft the first of each month, Our credit scores are excellent. The third entity, Mr Cooper(WTF?) took the mortgage starting 1DEC24.

1) why does the mortgage keep getting traded around?

2) When these transactions are done from one institution to another, do they have to put some good loans in there to offset the riskier mortgages in the deal?

 

oh yeah, MrCooper currently has one of our mortgages... it was originally financed (refinanced?) by USAA FSB, who had it underwritten by Chase, who nearly immediately sold it to Dovenmuhle (sp?), who then sold it to Nationstar, which is now named MrCooper.

BUT, this was actually AFTER we refinanced. We originally financed though Washington Mutual, who then died and it became Chase. We didn't like Chase and rates went through the floor, thus the refinance... which, as I said, immediately went right back to Chase. Hahaha!

None of this matters to you except for when you read your free annual credit report and see the chain there.

Our current place was financed through Loan Depot, where we refinanced again through themselves at some stupidly low rate. People call us with offers:

"You wanna lower interest rate?"

"Can you beat 2.5% fixed on a 30 year loan?"

"Uhm. No. Ok you're good, never mind."

I get the feeling Loan Depot is stuck with us at that rate; nobody else wants it. 🤣

[UTPhil2006 3858]

43 minutes ago, Iceman said:

@UTPhil2006 but anyone else can answer too:

Our mortgage is 5 years old and has had 3 different banks, starting with Wells Fargo and progressively getting more obscure. We have never been even a day late on payments.  It is paid on autodraft the first of each month, Our credit scores are excellent. The third entity, Mr Cooper(WTF?) took the mortgage starting 1DEC24.

1) why does the mortgage keep getting traded around?

2) When these transactions are done from one institution to another, do they have to put some good loans in there to offset the riskier mortgages in the deal?

 

1) Mr Cooper likes servicing (I'm guessing you started with UWM, they purchase a lot of UWM loans) and are built for it vs the bigger lenders (UWM, Quicken, NewRez) just want to do the initial loan and package and sell them 

2) I don't have a data point on that but I would assume so. They are sold in large batches. Again with the bigger lenders they have more stringent standards vs the non QM lenders that do 1 year tax return deals, bank statement programs etc that come with higher rates. 

[Iceman 2857]

If we ever do meet in person, first beer is on me.  Thank you.

[52-80 19333]

8 hours ago, Iceman said:

@UTPhil2006 but anyone else can answer too:

Our mortgage is 5 years old and has had 3 different banks, starting with Wells Fargo and progressively getting more obscure. We have never been even a day late on payments.  It is paid on autodraft the first of each month, Our credit scores are excellent. The third entity, Mr Cooper(WTF?) took the mortgage starting 1DEC24.

1) why does the mortgage keep getting traded around?

2) When these transactions are done from one institution to another, do they have to put some good loans in there to offset the riskier mortgages in the deal?

 

1. Some investors want the investment return of a mortgage, but aren't structured or licensed to originate loans. So the loans become packaged in commoditized product and sold around to these people who are pension funds and endowments and insurance companies etc.  (See Mortgage Backed Securities or Collateralized Mortgage Obligation). Also different financial institutions are always looking to balance their risk profile or liquidity level, so this is just 1 type of debt asset they hold vs treasuries, junk bonds, corporate bonds, etc.

2. It's a financial product, so it gets packaged into whichever way the market demands it. Sometimes they mixed riskier debt with safer ones to reach an target risk profile. Often now they package like-debt together, because people seek it. Like people want a basket of mortgages from a certain geography because they have a mandate for that exposure, or that location has lower interest rate sensitivity due to local laws or whatever.

Can I get a beer too?

[52-80 19333]

The abstracted bottom line is theres a bigger demand out there for mortgage loans than just from the mortgage lenders, which creates competitive pressure resulting in lower rates for borrowers. Because conversely if nobody wanted to take the risk of holding real estate debt, nobody would want to give you a mortgage.

[DigglerontheHoof 21485]

I’m already sick of Christmas music.

[nnm 37317]

3 hours ago, DigglerontheHoof said:

I’m already sick of Christmas music.

Gotcha (cross posting from the lol thread).

 

[SquishMitten 10490]

19 hours ago, nnm said:

Good question. WaPo has an article explaining it but I don’t have a sub so can’t read it:  https://www.washingtonpost.com/news/wonk/wp/2015/07/16/how-railroads-highways-and-other-man-made-lines-racially-divide-americas-cities/

reddit says this.  It’s as good an explanation as any:

It has to do with how cities grow.

Many towns grew around the places the trains stopped. But because trains are noisy and dirty, town centers were placed a ways away from the tracks. The more desirable residential areas were even further, and the industrial areas and cheap housing were closer. The very least desirable area were on the other size of the tracks, with were closer to the train, far from the town center, and when the train came through, blocked from the rest of the town.

That still doesn't explain why the town centers were seemingly always placed to the west of the tracks

Edited Wednesday at 06:30 PM by SquishMitten

[SurlyGator 933]

Purely a guess, but prevailing winds being from west to east would have kept downtown upwind from smoke, cattle smells, etc.

[Superhero 8916]

I wanted to fucking quit today.

We're trying to close on a $770M project and I'm busting my ass, taking on a part of the proposal where there's clearly a void. My boss came into my office and said she doesn't think my heart is in the project because she noticed that I'm deep in my computer during meetings. Apparently asking questions, and then checking against what I'm seeing in the proposal seems like I'm not paying attention.

She also said when I ask questions to clarify, they come across as repetitive because it may have already been asked. I ask the fucking question again because there were inconsistencies that I wanted to clarify. I didn't want to dump on her, but I told her she asks repetitive questions at least 1-2 per meeting and it's because she's not paying attention.

 

I've been doing this for 25+ years. I got promoted to where I am because someone (not her) thought I was competent. I don't need people to micromanage me. And just because I'm not telling her when I'm taking a shit, or when I'm going to pick up my kids, doesn't mean shit's not getting done. That's pretty much what I told her. I also told her I thought about quitting and going somewhere where I'm not putting in 50+ hours each week, and another 16 over the Thanksgiving weekend. I think that caught her off guard a bit, but I've honestly thought about it.

Anyway, just needed to vent. I picked up my kid, am going to eat dinner and headed back to the office. Fuck fuck fuck fuck fuck.

[SurlyGator 933]

Just so we're clear, you do NOT work for United Healthcare, correct?

[closetohumping 17667]

10 hours ago, Superhero said:

I wanted to fucking quit today.

We're trying to close on a $770M project and I'm busting my ass, taking on a part of the proposal where there's clearly a void. My boss came into my office and said she doesn't think my heart is in the project because she noticed that I'm deep in my computer during meetings. Apparently asking questions, and then checking against what I'm seeing in the proposal seems like I'm not paying attention.

She also said when I ask questions to clarify, they come across as repetitive because it may have already been asked. I ask the fucking question again because there were inconsistencies that I wanted to clarify. I didn't want to dump on her, but I told her she asks repetitive questions at least 1-2 per meeting and it's because she's not paying attention.

 

I've been doing this for 25+ years. I got promoted to where I am because someone (not her) thought I was competent. I don't need people to micromanage me. And just because I'm not telling her when I'm taking a shit, or when I'm going to pick up my kids, doesn't mean shit's not getting done. That's pretty much what I told her. I also told her I thought about quitting and going somewhere where I'm not putting in 50+ hours each week, and another 16 over the Thanksgiving weekend. I think that caught her off guard a bit, but I've honestly thought about it.

Anyway, just needed to vent. I picked up my kid, am going to eat dinner and headed back to the office. Fuck fuck fuck fuck fuck.

You were on surly during meetings weren’t you?

 

 

how old is your boss?   She sounds like a joy.   
 

I had this lady boss who would check badge swipes (remotely) to see when we’d come in. 

[Iceman 2857]

Had a boss who was subsequently fired, who got on my ass one day because I was 100 miles away from my home city. Told her straight up on the phone I was taking care of some things for my elderly mother.

"Why didn't you tell me( ask permission) you were taking Friday off?  A day here and a day there has people not getting their work done on the company dime"

" I did not call you this past Saturday when I went in and supported frontline folks that were in a bind.  I don't call you and check in every time I do extra work.  I was caught up for the week and knew this would not be an issue.  If you are going to nickel and dime me on my time away from work, I'll start keeping track of it closer, and trust me, the company will lose.  I work a shitton of extra time with no complaints, but if that tide is changing, I will adjust."

dead silence.

Six months later she was relieved of her duties.    Everyone just fucking hated her.

[gernblansten 3234]

13 hours ago, Superhero said:

I wanted to fucking quit today.

We're trying to close on a $770M project and I'm busting my ass, taking on a part of the proposal where there's clearly a void. My boss came into my office and said she doesn't think my heart is in the project because she noticed that I'm deep in my computer during meetings. Apparently asking questions, and then checking against what I'm seeing in the proposal seems like I'm not paying attention.

She also said when I ask questions to clarify, they come across as repetitive because it may have already been asked. I ask the fucking question again because there were inconsistencies that I wanted to clarify. I didn't want to dump on her, but I told her she asks repetitive questions at least 1-2 per meeting and it's because she's not paying attention.

 

I've been doing this for 25+ years. I got promoted to where I am because someone (not her) thought I was competent. I don't need people to micromanage me. And just because I'm not telling her when I'm taking a shit, or when I'm going to pick up my kids, doesn't mean shit's not getting done. That's pretty much what I told her. I also told her I thought about quitting and going somewhere where I'm not putting in 50+ hours each week, and another 16 over the Thanksgiving weekend. I think that caught her off guard a bit, but I've honestly thought about it.

Anyway, just needed to vent. I picked up my kid, am going to eat dinner and headed back to the office. Fuck fuck fuck fuck fuck.

Hey, and speaking of problems, what's this I hear about you having problems with your T.P.S. reports?

[52-80 19333]

The 1 thing I don't understand about the Apple world is it's supposed to be a creative-centric system, yet there's no simple paint app.

Microsoft has MS Paint, and then there's a KILLER 3rd party freeware called Paint.NET, and there's a free web-based service called Photopea that's an eerily good replica of Photoshop.

But on Apple...nothing. I tried getting a popular software called Pixelmator and that thing never fucking worked.

[52-80 19333]

13 hours ago, Superhero said:

I wanted to fucking quit today.

We're trying to close on a $770M project and I'm busting my ass, taking on a part of the proposal where there's clearly a void. My boss came into my office and said she doesn't think my heart is in the project because she noticed that I'm deep in my computer during meetings. Apparently asking questions, and then checking against what I'm seeing in the proposal seems like I'm not paying attention.

She also said when I ask questions to clarify, they come across as repetitive because it may have already been asked. I ask the fucking question again because there were inconsistencies that I wanted to clarify. I didn't want to dump on her, but I told her she asks repetitive questions at least 1-2 per meeting and it's because she's not paying attention.

 

I've been doing this for 25+ years. I got promoted to where I am because someone (not her) thought I was competent. I don't need people to micromanage me. And just because I'm not telling her when I'm taking a shit, or when I'm going to pick up my kids, doesn't mean shit's not getting done. That's pretty much what I told her. I also told her I thought about quitting and going somewhere where I'm not putting in 50+ hours each week, and another 16 over the Thanksgiving weekend. I think that caught her off guard a bit, but I've honestly thought about it.

Anyway, just needed to vent. I picked up my kid, am going to eat dinner and headed back to the office. Fuck fuck fuck fuck fuck.

she hot tho?

[InkaUtexas 26671]

10 hours ago, 52-80 said:

The 1 thing I don't understand about the Apple world is it's supposed to be a creative-centric system, yet there's no simple paint app.

Microsoft has MS Paint, and then there's a KILLER 3rd party freeware called Paint.NET, and there's a free web-based service called Photopea that's an eerily good replica of Photoshop.

But on Apple...nothing. I tried getting a popular software called Pixelmator and that thing never fucking worked.

Pixelmator was pretty good when it came out. Then it was "improved" and sucks donkey dicks Juarez style. Have never found one I like. Deprives the world of my stupid attempt at humor art.

[Superhero 8916]

20 hours ago, closetohumping said:

You were on surly during meetings weren’t you?

 

 

how old is your boss?   She sounds like a joy.   
 

I had this lady boss who would check badge swipes (remotely) to see when we’d come in. 

I wish I was on surly. Some of the meetings are a bunch of VPs in the room saying the same shit 10 times. After the 3rd time, I just want to start yelling at them to STFU and move on to the next agenda item.

Boss is a few years younger than me. 
 

18 hours ago, 52-80 said:

she hot tho?

No. She’s overweight and has a permanent frown and furrowed brows during meetings. Talks too much. To her credit some of the stuff she says actually makes sense.

 

Not saying she’s 100% bad. She just needs to be more observant at times and stop thinking her shit don’t stink. 

[thunderlounge 8153]

4 hours ago, Superhero said:

To her credit some of the stuff she says actually makes sense.

 

 

[52-80 19333]

I like the sport of soccer but having to use the legs to do both running around and controlling the ball is such a stupid and awkward idea at the abstract and aesthetic level. 

It’s intentionally handicapping the human motor control. Like what if theres basketball…but players can only move around by handwalking.