More than half of Americans with a mortgage are locked in under 4%, freezing nearly two million home sales. JD Cobb has spent two decades closing loans in Texas, and his advice runs against the wait-and-see instinct: buy at today's price, refinance later. He takes Jerremy Alexander Newsome and Dave Conley through the whole machine — the four Cs, who really owns your note, the pay option ARMs he watched build the 2008 collapse, and the occupancy fraud no computer catches. He explains why self-employed borrowers get squeezed by their own write-offs and how insurance now kills approvals outright. He closes with the twelve assistance programs in one county and calls twenty percent down "the biggest myth ever."

Timestamps:

• (01:07) JD's first closing – a cash-out refi, not a purchase
• (05:43) The four Cs – what lenders actually check
• (08:07) Who owns your loan – servicing gets sold, you keep paying
• (11:16) Pay option ARMs – balances grew when you paid
• (17:43) Starter homes are gone – the average buyer is now 38
• (25:44) Self-employed problem – write-offs make you unlendable
• (30:21) "Fast and Easy" – Countrywide's no-verification program
• (34:29) Insurance kills deals – wind, flood, and AI drawing lines
• (39:17) A dozen programs – the money nobody asks about
• (49:54) Lightning round – twenty percent down is the biggest myth
• (52:28) It's energy – JD's call on what moves rates next

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