Category Archives: Risky Lending

Anyone can get a $50m loan

Posted on June 19, 2024 by grim

From the Star Ledger: N.J. real estate investor admits role in $54.7M mortgage fraud scheme A New Jersey real estate investor admitted Monday that he was involved in a massive, far-reaching $54.7 million mortgage fraud scheme, federal prosecutors said. Aron … Continue reading →

Posted in National Real Estate, New Jersey Real Estate, Risky Lending | 104 Comments

What’s it take to get banned by Freddie and Fannie?

Posted on June 16, 2024 by grim

From the Real Deal: Meridian makes cuts to New Jersey office  Meridian Capital Group has let go of brokers in its New Jersey office as the brokerage goes through a leadership shakeup and a blacklist from Freddie Mac and Fannie … Continue reading →

Posted in Mortgages, NYC, Risky Lending | 26 Comments

Back Again

Posted on May 1, 2024 by grim

From CNBC: Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates When mortgage rates rise, consumers look for any way to lower their monthly payments, and that often leads them to adjustable-rate mortgages. These … Continue reading →

Posted in Economics, Housing Bubble, Risky Lending | 105 Comments

Foreclosure Do-Over

Posted on January 13, 2024 by grim

From NJ Monitor: Gov. Murphy signs new foreclosure protection program into law New Jerseyans facing foreclosure will have a new path back to homeownership under a bill Gov. Phil Murphy signed Friday. The new law creates the community wealth preservation program, … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, New Jersey Real Estate, Risky Lending | 30 Comments

Like the good ol’ days

Posted on December 18, 2023 by grim

From Business Insider: HENRYs are turning to a little-known and risky type of mortgage as home prices soar  With home prices and mortgage rates sky high, potential homeowners — even those with deep pockets — are looking for ways to ease the … Continue reading →

Posted in Economics, Employment, Housing Bubble, National Real Estate, NYC, Risky Lending | 112 Comments

New home prices might not be what they seem

Posted on September 11, 2023 by grim

From Wolf Street: Mortgage-Rate Buydowns by Homebuilders Are Now All the Rage to Prop Up Sales, Lowering Effective House Prices in a Big Way, but Don’t Get Picked Up by House Price Data Homebuilders don’t have the luxury of outwaiting … Continue reading →

Posted in Economics, Mortgages, National Real Estate, New Development, Risky Lending | 35 Comments

VLY goes all-in

Posted on May 3, 2023 by grim

From the Real Deal: Jersey boys: Valley Bank emerges as lifeline for NYC real estate For a few weeks in March, it seemed like 2008 all over again.  The tech industry’s go-to lender, Silicon Valley Bank, was seized. Depositors rushed to … Continue reading →

Posted in New Jersey Real Estate, NYC, Risky Lending | 96 Comments

Don’t worry about commercial real estate…

Posted on April 9, 2023 by grim

From Insider: Most of Wall Street is panicking about commercial real estate – but Goldman Sachs says there’s little chance it triggers a financial crisis It seems like there are three words on the lips of every investor now that … Continue reading →

Posted in Economics, Mortgages, National Real Estate, Risky Lending | 24 Comments

Jersey shore is underwater, but you still can’t get a good deal

Posted on April 6, 2023 by grim

From CNBC: A hidden time bomb? A ‘Big Short’ investor sees financial disaster brewing in housing markets More than a decade after a U.S. mortgage meltdown threatened to destroy the international financial system, a “Big Short” investor once again sees … Continue reading →

Posted in Crisis, National Real Estate, Risky Lending | 104 Comments

The bailout that’s not a bailout…

Posted on March 13, 2023 by grim

From CNBC: Bill Ackman says U.S. did the ‘right thing’ in protecting SVB depositors. Not everyone agrees Billionaire investor Bill Ackman said the U.S. government’s action to protect depositors after the implosion of Silicon Valley Bank is “not a bailout” and … Continue reading →

Posted in Economics, Politics, Risky Lending | 155 Comments

Do you have to pay it back?

Posted on February 17, 2023 by grim

From CNBC: Consumer debt hits record $16.9 trillion as delinquencies also rise Consumer debt hit a fresh record at the end of 2022 while delinquency rates rose for several types of loans, the New York Federal Reserve reported Thursday. Debt … Continue reading →

Posted in Economics, National Real Estate, Risky Lending | 53 Comments

Just the beginning?

Posted on February 13, 2023 by grim

From DSNews: January Foreclosure Filings Up 36% YoY Foreclosure volume continues in America, with year-end totals reaching 31,557, which includes default notices, scheduled auctions, or bank repossessions, a 36% increase compared to the previous year. The numbers reported in January … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate, Risky Lending | 129 Comments

Why not assumable loans?

Posted on December 9, 2022 by grim

From MarketWatch: How people bought homes in the 1980s when mortgage rates were 18% For all the similarities between the 1980s and today, there are key differences. One of them involves “assumable mortgages,” which were plentiful then and are in … Continue reading →

Posted in Economics, Mortgages, National Real Estate, Risky Lending | 166 Comments

This always ends well

Posted on August 30, 2022 by grim

From the FT: Big US mortgage lenders turn screws on smaller rivals as rates rise The two largest US mortgage lenders are turning up the heat on their smaller competitors, offering discounts and other incentives to win market share as … Continue reading →

Posted in Housing Bubble, Mortgages, Risky Lending | 196 Comments

Oh well?

Posted on August 21, 2022 by grim

From Bloomberg: US Mortgage Lenders Are Starting to Go Broke The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, Risky Lending | 33 Comments