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...The New York-based securitised products business packaged debts, such as mortgages and loans for yachts, before selling them on as securities....
...Blackstone took control of the trust in 2013 and two years later dramatically expanded it with the purchase of a $4.6bn portfolio of commercial mortgage loans from GE Capital....
...Net mortgage lending rose €12bn last month, the biggest monthly increase for more than a year, largely driven by a jump in French home loans....
...And every lender’s got an online servicing portal. Nationwide’s got a mortgage manager. Everything you need to know, that’s on there. So it’s great to know when your term is coming up....
...Separately, it paid a $25mn penalty to the CFPB related to private student loan servicing practices. “Capital One is a healthy, well-managed, well-capitalised bank....
...A servicing company placed the loan on watch for possible default — although the Trumps have remained current on their payments....
...They have cut lending rates, mortgage rates, business taxes, stock-trading fees and even admission costs at tourist sites; extended EV subsidies; relaxed regulations; intervened in forex markets; and extended...
...ICE obtained control of mortgage data repository MERS in 2016 and bought loan origination platform Ellie Mae for $11bn in 2020....
...For instance, here’s an extract from a filing by Manhattan Bridge Capital, a small Nasdaq-listed mortgage Reit: No Adverse Material Change....
...The servicing cost of a buy-to-let mortgage has doubled since the Bank of England began rate rises at the end of 2021....
...Even with this buffer, however, consumers face elevated prices and higher debt servicing costs. Forbearance policies for student loans are at an end....
...KKR’s recent agreement to buy up to €40bn of consumer loans originated by PayPal is one among various efforts by the firm to break into “asset-based” finance — fixed-income products such as mortgages, car...
...“The high loan-to-value mortgages — the ones theoretically at risk — are insured, and so the banks are basically bulletproof on that.”...
...It also isn’t encouraging to see the jump in the share of loans that are delinquent and in special servicing. But hey, who knows? Everything could be fine....
...loans banks don’t want....
...The analysts expect the worst mortgage-related stress to hit smaller cities. The real pain will probably surface in loans to developers....
...The new policy covers apps offering personal, payday and peer-to-peer loans, but not mortgages, car loans or credit cards....
...the latest concerns over mortgage rates....
...In those transactions, a pool of assets — such as mortgages, credit card receivables or auto loans — are packaged together, with the interest payments funding new slices of debt that are sold on to investors...
...In addition, Wells Fargo is shrinking the size of its third-party servicing business, which oversees billing and collects payments on loans made by other lenders. The withdrawal makes sense....
...Even if unemployment rates remain low, a greater portion of households will have to eventually refinance existing loans....
...Even a modest improvement in sales would let developers unload inventories and continue servicing debts, limiting losses to the banking sector....
...At this higher cost of funds, how do I make my next loan? Mortgage issuance is going to be down when you double rates. Same thing with auto lending....
...Because such loans attract interest at floating rates, their value does not mechanically fall as rates rise — but that may not help much if overleveraged companies struggle to meet the rising cost of servicing...
...The Bank of England on Tuesday said the average mortgage rate for new loans rose to 3.67 per cent in December, the highest in a decade....
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