04-07-2025 Spreadsheets in the “Rose Garden”
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Stocks beg a pardon. Trump never promised you a Rose Garden.
Performance depends on the starting point. Wednesday’s 3 pm marks looked very different than the 5 pm marks. Would you take on risk when Trump is holding up an Excel spreadsheet taped to a poster board in the Rose Garden? It complicates a pipeline hedger’s life.
We call the deal between Rocket and NationStar, “RocketStar.” It is going to have unintended consequences because investors don’t like loan concentration. Expect wacky prepays and pricing.
Along with the prepay, there’s gotta be a little pool sometime.
These views are mine. Catch the right trade at TMSpotlight.com.
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Song: Rose Garden (1970) Lynn Anderson
Les Parker, CMB Managing Director, Transformational Mortgage Solutions
Les Parker is the Managing Director at Transformational Mortgage Solutions Advisory Board Member for Ainsworth Advisors; and has served as the Senior Vice President of Industry Relations and Consulting at LoanLogics, a technology and services provider focused on improving mortgage loan quality, performance, and reliability throughout the loan life-cycle. His responsibilities included managing the company’s life of loan analytics and monitoring capabilities, overseeing consulting services, contributing to the strategic planning team, and communicating with industry leaders to develop and maintain positive relationships. He focused on identifying threats and strategic opportunities. Parker has executive mortgage banking experience in capital markets, servicing, operations, production, and financial management. Parker has served as director of the largest private issuer of CMOS. His educational background covers music, religious studies, mortgage banking, mathematics, and business administration. Parker holds a BBA in Finance, and other degrees, and has held numerous securities licenses. Parker is a Master Certified Mortgage Banker, a designation conferred by the Mortgage Bankers Association. Parker writes, speaks, and provides audio content, Since the late 1980s, he publishes a daily newsletter connecting global macroeconomics to the US interest rate movement.