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Category Archives: Risky Lending
Anyone can get a $50m loan
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
What’s it take to get banned by Freddie and Fannie?
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
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
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
Like the good ol’ days
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
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
VLY goes all-in
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…
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
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…
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?
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?
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
Why not assumable loans?
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
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?
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