u/-grc1-

A past client has approached me for a construction loan for a tiny house. She says, though, that it will be on a permanent foundation and 620 sf. Though this is a very small home, I don't think it is technically a tiny house. Right?

I'll ask my AE before proceeding but wanted some feedback. This seems more like one of those tough appraisal loans instead of a niche loan for a tiny house.

Did you know that you can't use rental income from a departing residence that isn't classified as real property? For example, a mobile home that is classified as chattel can't have the installment payment offset by rental income.

If you knew that, show me in the guidelines where you learned it. My underwriter couldn't. She said it's an unspoken rule. HTF am I to preapprove loans with unspoken rules lurking in the shadows? She provided me a call reference number where she verified it with Fannie Mae.

I'd unload her dishwasher for another chance to hear this album. Have you heard it? Do you like dreamy pop stream of consciousness?

It released May 22, 2022, by London's Fuzz Club label.

Dim the lights.

Enjoy...

Tall Boy and Thin Air come to mind. What other songs mention something about the state?

Rates are worse off today because more people than expected found a job. It's really strange to think there is a new generation of loan officer out there that might think it's normal to root against people getting a job.

"Mortgage rates are worse this morning, due to a much higher-than-expected Non-Farm Payroll report of 172,000 jobs hired in May, well above the market’s prediction of 85,000. And the prior April Non-Farm Payrolls report was upwardly revised from 115,000 to 179,000 today. This is the primary driver of why the bond market prices are lower today. The May Unemployment rate came in as expected at 4.3% and the May increase in monthly earnings came in as expected at a 0.3% monthly increase. Oil prices are down a little over a dollar from yesterday morning at $91.17 for West Texas Intermediate crude.

 The higher-than-expected Non-Farm Payroll report of 172,000 and the huge upwards revision of the April report to 179,000 had a negative impact on interest rates for two primary reasons. First, is that any number above the range of 50,000 – 100,000 new jobs each month indicates a growing economy, which creates an upward pressure on interest rates due to more demand for borrowing and the increased inflation pressures that normally occur in a growing economy. The second negative impact is that a strengthening jobs market allows the Fed to be more aggressive in raising the Fed Funds rate in order to combat inflation.

 The Fed is always in a dilemma in how they manage their twin goals of a healthy job market and controlling inflation. If they raise the Fed Funds rate to try and slow down inflation, this usually harms the jobs market. With today’s much stronger-than-expected jobs report, this gives the Fed a greater ability to raise the Fed Funds rate without having to worry that it will hurt the jobs market.

 As a result, the Fed Futures market is now predicting two Fed Funds rate increases in 2027, compared to yesterday’s prediction of only one in 2027, as shown in the updated chart below.

 The yield on the 10-year Treasury bond is currently 4.536% and the chart below shows the sharp increase in the yield this morning when the surprise Non-Farm Payroll report was released. Below is the chart of the 10-year Treasury Yield."

I was gifted Murray Hammond's Trail Songs of the Deep, and you should hear it. Murray is in the Old 97s. This album is a masterpiece imo.

Another album came with it - just a gift of it nowhere. FREAKONS. It's a collaboration between Mekons and Freakwater. The album art clearly shows the theme to be the ravishes of mining. Mountain life told through mountain music.

Murray Hammond.

FREAKONS.

mekons

Freakwater

Dive in.