Hints and tips:
...Plaid’s investors include Silver Lake Partners and Ribbit Capital, as well as the asset management arms of JPMorgan Chase, Goldman Sachs and American Express....
...Mortgage origination volume looks set to grow again in 2024 after falling to its lowest level in nearly 30 years, according to the Mortgage Bankers Association....
...The JPMorgan banker-turned-exchange boss turning noodles into securities In modern capitalism, you can securitise all sorts of things — mortgages, the loans backing private equity buyouts, car loans, even...
...Mnuchin and Joseph Otting, the former regulator who has taken over as NYCB chief executive, have a history of rebuilding troubled lenders: they bought failed mortgage lender IndyMac from the FDIC in 2008...
...A total of $117bn in commercial mortgages tied to US offices will come due this year, according to the Mortgage Bankers Association....
...If customers aren’t gorging on subscription lines, margin loans, interest-only mortgages and other tailored debts, it diminishes the selling points of a bank....
...Citi also has a reputation for offering favourable rates on mortgages to its law firm clients....
...New loans last week averaged 7.16 per cent, matching levels last seen in 2001, according to data from the Mortgage Bankers Association. Many US households typically borrow on 30-year fixed-rate terms....
...“They had to drive an hour or more into a big city just . . . to try to get a mortgage or car loan,” he said....
...In 2005, Ogunlesi, then a top banker at Credit Suisse, was summoned to Omaha, Nebraska, by the energy arm of Warren Buffett’s Berkshire Hathaway to study a large takeover....
...Bankers warned that keeping the unemployment rate low — about 3.7 per cent — would be crucial to ensuring loan losses remained at manageable levels....
...The banker quickly cut Malhotra off, politely asking him not to call again because he preferred to work with Fraser. “My ego was a bit bruised but I was also proud,” said Malhotra....
...Mortgage applications hover close to a three-decade low, says the Mortgage Bankers Association....
...Citi says it serves 700 law firms and 50,000 lawyers in the US and Britain, providing services that include favourable mortgage rates....
...And the riskiest business to be in was subprime mortgage. So Citi ran right into it....
...JPMorgan said it was facing a 25 per cent jump in capital requirements, while analysts at Autonomous predicted American Express might need 40 per cent more capital....
...Cash from DIP loans is used to pay executives, lawyers and bankers....
...The company blamed “significant increases in home mortgage interest rates” for curtailing demand....
...Most bankers expected tougher capital requirements. The Basel standards are a global effort, at least in theory, and the US’s proposals lag behind EU’s Basel Endgame rules....
...“What will likely happen is the FDIC will seize control and then simultaneously resell the asset to the successful bidder,” said Gary Cohn, the former Goldman Sachs banker and adviser to President Donald...
...Bankers dust off CVs Headhunters and rival lenders across the world are fielding calls from Credit Suisse bankers in search of new jobs, Bloomberg reports....
...Mortgage origination, which reached $4.4tn in 2021, should drop nearly 50 per cent to $2.3tn this year, according to the Mortgage Bankers Association....
...One thing to start: The Phoenix Suns are on track to set a record price for the sale of a National Basketball Association franchise, with mortgage lending billionaire Mat Ishbia nearing a $4bn deal to acquire...
...But a banker at one large lender expressed scepticism in private, pointing out that people on low or irregular incomes often fail to pass the credit score to apply for a mortgage in the first place: “The...
...Private equity group Carlyle has sounded out two senior Wall Street bankers about becoming its next CEO following the abrupt departure of Kewsong Lee last year....
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