If you’re a student of the industry, it’s fun to learn about the inner workings of the mortgage business. So, we try to chat with different people and get different perspectives.
Recently, we had our first chance to speak with John Vogel. John is Chairman of MyNext Mortgage, our firm’s (Mortgage Architects’) proprietary lender.
John has a somewhat unique view on the world thanks to his background in the fixed income markets. Prior to helping launch MyNext Mortgage, John created, sold, and traded various fixed income products for over 20 years. He’s worked on the fixed income desks at major Canadian and international banks in New York, Toronto and London, England.
In this first of a two-part interview, we speak with John about lending spreads, interest rate risk and more….
Hey Melanie & Rob,
Great interview.. It’s really important to get a high level point of view on money matters these days..
Congrats on the interview!!
That was interesting about banks being able to take interest rate risk. I guess it’s just another way that mono-line lenders are at a disadvantage. Unless other funding sources come back on line, I bet we see several more bank applications at OFSI next year.
Good interview. Life is nice as a bank!
Re: “teaser” rates
It’s a wonder lenders aren’t coming out with more prime – 1/2% for 6 months deals. MCAP had a good one a while back. It seems like a good environment for them with rates rising next year.