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...Last month, UBS agreed to pay $1.4bn to resolve a US regulatory probe into the alleged mis-selling of residential mortgage bonds in the run-up to the 2008 financial crisis, wrapping up the last remaining...
...Similarly, bankers at UBS, Citi and Merrill Lynch told me in 2008 that one reason why the dangers around repackaged subprime mortgage loans were ignored was that these instruments had supposedly safe triple-A...
...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....
...In most regions, mortgage payments were cheaper than rents for equivalent properties on a typical 85 per cent loan-to-value mortgage, according to Zoopla....
...If there is a mortgage on the London property and you are to assume responsibility for your brother’s part of the loan, then SDLT will also be due on your brother’s share of it....
...So it’s important to remember that, you know, most mortgage holders or new mortgage holders, especially in the residential market, would be looking to secure fixed rates....
...After all, they noted, that was how America exited its own 1980s Savings and Loans crisis: it auctioned bad loans via a Resolution and Trust Corporation, in a way that pulled opportunistic investors back...
...Shares in KKR Real Estate Finance Trust, a US commercial mortgage Reit, fell 14 per cent yesterday after it took a loss on a Philadelphia office loan, warned of stress elsewhere in its portfolio, and cut...
...First-time buyers must also choose from fewer mortgages, and are less likely to qualify, says Jonathan Miller, professor of residential real estate at Columbia University in New York....
...We took on a business loan for £1.6mn to cover the rent, and the rest of the staff wages. We have paid back most of the loan. We simply had to ride out the pandemic....
...Residential property is exposed to a negative feedback loop. The more prices decline, the greater the incentive for homebuyers to halt mortgage payments on unfinished properties....
...Credit is trust given financial form. Economic life depends on creditors believing that borrowers will pay interest on loans and return principal when it is due....
...SolarCity bought Paramount Solar in 2013 for about $120mn, making Barnard its chief revenue officer....
...Fitch, which rated the deal triple-A, says underwriting standards are “well-aligned to Fitch’s expectations for prime mortgage origination”, but noted that the OSB’s willingness to make loans to self-employed...
...Lucian Cook, residential research director at Savills, points to the “double whammy” of higher mortgage interest rates and the end of mortgage interest relief in 2020, as well as expected government rule...
...The initiative was launched by the Conservative-led coalition government in 2013 and intended to support buyers of newly built homes by providing a government equity loan of 20 per cent of a property’s total...
...Bank loan books are under stress. Which is why commercial mortgage-backed bonds are also being pummelled....
...This is the largest deceleration since the first quarter of 2013. Over the same time, house price growth slowed from 10.4 per cent to 9.9 per cent in the EU....
...The average new two-year fixed rate mortgage broke through 4 per cent in August for the first time since early 2013....
...Spreads on triple-B commercial mortgage-backed securities, the lowest rung of investment grade, are shooting up: And so are lenders....
...The Bank of Spain says roughly three-quarters of mortgage holders in Spain have variable rate contracts, which are usually taken out for the duration of the loan....
...“The average [mortgage] rate for new purchases and remortgages has overtaken the rate on outstanding mortgages — the first time since 2013 that has happened,” he says....
...They will also develop better products, for example, if they see everyone wants offset mortgages.”...
...At Provenance Village Butcher, which opened its first shop in Notting Hill, west London, in 2013, a customer has just bought three Japanese Wagyu steaks for £350....
...ICE’s move strengthens its grip on the data and software that undergirds the US residential mortgage market at a time when home prices have been soaring....
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