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...Earlier this month, UK chancellor Jeremy Hunt announced Canary Wharf Group would receive a £118mn loan from a government housing infrastructure fund to support developing a life-sciences centre, a healthcare...
...Freddie will only buy the second mortgages of borrowers that it already has a first mortgage with, and the combined loan-to-value of both the first and the second mortgage cannot exceed 80 per cent of the...
...That discount reflects concerns over the potential for an increase in bad loans. Its bad loans from residential mortgages have already risen 9.6 per cent to Rmb27.8bn ($3.8bn)....
...Both of the banks you mentioned and all of the regional banks have a lot of fixed-rate mortgage loans on their books. And those loans are not worth anywhere near what they listed as....
...For context, single-family residential mortgages made up 34% of FDIC-insured bank loan books in 2009, a far higher level than the 9.3% of loan books currently made up by CRE loans....
...“So many were in cash before because they needed to win the bidding wars and you couldn’t win with the loan contingency,” Sykes said. “So they would buy in cash and then get the loan afterwards.”...
...However, funding has also come from private lenders and the commercial mortgage-backed securities sector, often bundled into collateralised loan obligations....
...Fortunately, the loans I have in place were fixed at the early stages of the interest rate hikes. The mortgages are less than a fifth of the property values, so relatively low....
...The building society flagged a slight uptick in bad loans in its half-year results, with 0.38 per cent of its residential mortgage portfolio behind on repayments for more than three months at the end of...
...Although there was demand for the best buildings, Gosin estimated that 50mn sq ft of office space “should be taken down” in New York City alone....
...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...
...In a statement, Silverstein confirmed that junior and senior mezzanine debt and mortgage loans were all in maturity default, and that property broker JLL was organising a sale....
...Worries have persisted as banks disclose exposure to losses on commercial real estate loans as work from home leaves offices underused....
...People familiar with Barclays dispute this account, saying that Better cancelled the facility because it was no longer originating enough mortgage loans....
...“I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!”...
...Goldman adds that differences in debt levels between cities muddy the fiscal picture: heavily indebted cities need to cut spending to pay down debt, while less indebted ones need to step up investment....
...Across town in the City of London, James Constantinou, founder of Prestige Pawnbrokers, reports a 200 per cent increase in overall inquiries from pre-pandemic levels, with demand for loans of over £50,000...
...With remote working, New York City office vacancies have reached record levels. Older buildings have been particularly hard hit, including 40 Wall Street....
...Office vacancy rates remain well above pre-pandemic levels in cities across the US, Europe and Asia. Loan delinquencies and distressed sales are set to climb....
...Brookfield has bid on $4.4bn in affordable housing loans to apartment buildings in New York City that the FDIC is selling as part of the auction of New York-based Signature’s assets, which mostly comprise...
...The company promises a quicker and cheaper mortgage approval process, in part by scrapping common industry practices such as commissions for loan officers....
...Some $117bn in commercial mortgages tied to US offices will come due this year, according to data from the Mortgage Bankers Association, part of a wall of looming maturities that is contributing to expectations...
...Rapid rises in mortgage rates had at first propelled homebuilder stocks, because they made current homeowners holding cheaper fixed-rate loans less willing to sell their properties....
...“People might feel they can afford more now that mortgage rates have fallen but in practice most lenders will wait for the Bank of England rate to fall before they increase the maximum loan.”...
...Commercial property, and in particular mortgages on office buildings with low occupancy rates, have been a big concern for lenders since the Fed started lifting interest rates....
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