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...Letter in response to this article: One ‘unknown unknown’ banks should know about / From Trevor Wood, Partner, Vedder Price, London EC2, UK...
...In 2023, these non-bank lenders funded a whopping 86 per cent of leveraged loans, up from 61 per cent in 2019, according to PitchBook LCD....
...In April 2021, SoftBank was so eager to back US mortgage lender Better Home & Finance that it wrote a $500mn cheque and was prepared to hand its newly acquired voting rights to Vishal Garg, the start-up’...
...In response to Wednesday’s inflation announcement, so-called swap rates — which influence lenders’ pricing of their fixed-rate mortgages — rose by over 20 basis points for two-year and five-year deals....
...wipe out value for lenders and shareholders lower down the chain....
...At the meeting on Friday, regulators also told state lenders to issue mortgages to home buyers purchasing property from private developers at least at the same pace as they issue mortgages to buyers from...
...The income acceleration effect from fair-value accounting is ultimately transitory and will reverse over time as loan growth slows or charge-offs rise....
...Baer’s full exposure is unknown. The bank had SFr43bn of loans outstanding at the half-year mark, including SFr8bn in mortgages that are largely on Swiss residential property....
...The Fed currently rolls off up to $60bn in Treasuries and $35bn in mortgage-backed securities each month....
...“A house price correction won’t be enough to reverse falling home ownership without reform of the UK’s mortgage market.”...
...SoftBank found itself caught in a not too dissimilar situation with mortgage provider Better....
...In response, lenders — led by challenger banks — have pushed up the interest rates they offer savers....
...“The public pressure on the ECB will rise, especially from the highly indebted member countries,” said Jörg Krämer, chief economist at German lender Commerzbank....
...The FHLBs mentioned are the Federal Home Loan Banks, basically US government-sponsored co-operatives of mortgage lenders that use their implicit state backstop to get cheap funding and extend the benefits...
...The cost of a two-year fixed-rate mortgage has reached 6.78 per cent, the highest level since the 2008 financial crisis....
...DD readers may remember the messy saga of the billionaire Barclay brothers, whose loans from HBOS went unpaid even after Lloyds’ government-brokered rescue of the collapsed mortgage lender during the 2008...
...These fixed-income products differ from typical corporate debt, and include mortgages, car loans, consumer lending and home improvement loans....
...The exact make-up of the bond portfolios is unknown, but MBS analysts think the bulk of the holdings are securities that were bought by the lenders before interest rates and bond yields rose....
...In many cases, big commercial real estate lenders in San Francisco, which include JPMorgan, Deutsche Bank, Wells Fargo and Bank of America, syndicated the property debt via commercial mortgage-backed securities...
...“With many unknowns and potential risks to work through, we believe investors are better served sitting on the sidelines until visibility improves.”...
...Rate reaction | Three of the UK’s largest lenders and several smaller players announced cuts to mortgage rates yesterday after last week’s official data showed a better than expected drop in June inflation...
...It noted that there is $1.5tn in commercial mortgages coming due in the next three years, and many or most of them are financed by interest-only mortgages....
...Need to know: UK and Europe economy UK lenders Nationwide, HSBC and TSB cut mortgage rates for the second time in three weeks as competition in the home loan market increased after better than expected...
...This decline continued after Swedish house prices fell 0.8 per cent between February and March, according to data from mortgage lender SBAB Bank on Monday....
...(Only China’s big four lenders outweigh it in assets.)...
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