Hints and tips:
...(In the interest of accuracy we are reckoning in the same feet used by American charts and the Corps of Engineers.) The Chief’s Report was only a recommendation....
...“All Americans need a Bible in their home and I have many. It’s my favourite book,” he declared winsomely in a video on his Truth Social site....
...The government created Freddie Mac, Ginnie Mae, mortgage-backed securities, modified mortgages and subsidised rates for homeowners. It was a 1 per cent mortgage era....
...But the problem is that as long as these “pretend and extend” tactics are playing out, uncertainty will haunt the property sector, threatening to undermine American growth....
...The latter two are considered “core services”, because rent costs can be sticky and Americans don’t necessarily pay increases in owners’ equivalent rent in real time....
...But a poll on Sunday showed that just 13 per cent of Americans feel they are better off under the US president....
...JSR’s American chief executive, Eric Johnson, says the company originally approached JIC in November 2022....
...Smart reads The home loan loophole The $1.4tn FHLB, a government system meant to help Americans obtain mortgages, is being used by some clever investors as a way to get cheap money, Bloomberg reports....
...AGNC Investment Corp has $51.7bn, The Starwood Property Trust manages $28.3bn, Rithm Capital has $32bn, and the Blackstone Mortgage Trust another $26.8bn....
...That fund would buy American companies with the potential to expand in China....
...The good news is that the CRE problems do not seem to be nearly as grave as the issues in subprime mortgages in 2008....
...Britain’s largest defence company has agreed to buy the aerospace business of Colorado-based Ball Corp for $5.6bn in cash....
...Its funding costs also rose rapidly and it racked up large paper losses on its mortgage book and other long-dated assets....
...To compare, in 1985 the UK had 355 banks and 167 building-society mortgage lenders....
...From the WSJ: “I like to call it the ‘golden handcuffs’ of mortgage rates,” said Odeta Kushi, deputy chief economist at First American Financial Corp....
...A different type of mess is now surrounding Lincoln National Corp, the Radnor, Pennsylvania-based insurance company that lends the stadium its name....
...The weakest players our screen identified were Wisconsin’s Associated Bank, listed as Associated Banc-Corp, and Valley National of New Jersey....
..., which suggest Americans are becoming more concerned about the outlook and their finances....
...Other independent lenders, including Sprout Mortgage and First Guaranty Mortgage Corp, have gone out of business....
...By December 2022, the Spac heyday had long since evaporated, and Mission Advancement Corp delisted without finding an acquisition target....
...SVB launched a $2.25bn share sale after suffering a large loss on its portfolio of US Treasuries and mortgage-backed securities as it grappled with rising rates and a cash crunch at many of the start-ups...
...Foreigners fresh to American life quickly learn that obsessing over credit scores is a national pastime....
...Mortgage debt is expected to grow 10.6 per cent this year and next, according to the Canada Mortgage & Housing Corp. Canadian lenders have also proved adept at making money in the US market....
...Opinion: This will be the mother of all American midterm elections, writes Edward Luce. 2....
...Is it a financial innovation that will unlock the promise of home ownership for Americans who have been shut out of mortgage finance?...
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