December 12, 2024· 44 min

Why You Can't Get a One-Click Mortgage Refi

Mike Yu

Orality

Model

50%

Speaker Breakdown

HostJoe Weisenthal(855 words)

M:94%

HostTracy Alloway(1,858 words)

M:29%

GuestMike Yu(6,722 words)

M:28%

Oral Indicators

Agonistic47%

basically, very, certainly

Engagement74%

you, our, your

Memory Aids100%

listen, so, right

Repetition100%

like (142x), know (84x), it's (69x)

Parallelism94%

And I'm Joe Wasenthal...., And one form of borrowing that..., But we're in the middle of a r...

Sound Patterns55%

57 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases6%

you know what, i mean, so to speak

Literate Indicators

Hedging7%

may, probably, maybe

Passive Voice6%

are often, be bothered, was involved

Abstract Nouns14%

investment, business, chase.com/business

Subordination6%

though, since, because

Sentence Length42%

Avg: 15.6 words/sentence

Word Complexity47%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style26%

767 personal pronouns found

Descriptive Style100%

apply, really, basically

Description

You can do a lot of things with the click of a button nowadays. You can get insurance, open a bank account, or trade 347 different stocks all at once via an ETF. But one thing you definitely can't do via a single click, is refinance your mortgage. In fact, securing a mortgage still requires reams of paperwork -- a lot of which has to be physically mailed to all the different parties involved. So why is mortgage finance stuck in the stone age? In this episode we speak with Mike Yu, co-founder and CEO of Vesta, about why we don't have one-click mortgages refis. He describes how a mix of clunky legacy IT systems and regulation have combined to make mortgage finance a technological laggard. Read More: US Home-Purchase Applications Rise to Highest Since February Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer. You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page in Apple Podcasts to listen ad-free. See omnystudio.com/listener for privacy information.

← How the Hedge Fund Magnetar Is Financing...Tim Latimer on Solving the Financing Pro... →