by Martin Armstrong The talking heads have been warning of a housing crash, but that is not what Socrates indicated. The 30-year fixed rate is around 6.89% at the time of this writing. Housing costs continue to rise, causing the …
From the WSJ: When Silicon Valley Bank collapsed last month, the core problem was a giant hole in its bond portfolio. When depositors started fleeing First Republic Bank pointing triangle soon afterward, the concern mainly was about a hole in …
The fallout from the run on the Silicon Valley Bank in California went international overnight, with British and European Union lenders seeing nearly £30 billion wiped off their portfolios and the Bank of England stepping in to take over the …
by Boo_Randy Wait until all the F*cked Borrowers who massively overpaid during the “chip shortage” let their cars get repoed, then pay cash for a replacement at firesale prices. Alright everyone is asking how to take advantage – here you …
JUST IN: The six biggest U.S. banks are expected to set aside nearly $5 billion in the third quarter to cover future loan losses, Wall Street analysts said to Reuters, as lenders brace for a potential global recession. — unusual_whales …
CFPB Director Rohit Chopra says “buy now, pay later” lenders must be monitored like regular credit card companies. The consumer watchdog, which doesn’t currently regulate the industry, plans to issue guidance to oversee the lenders and subject them to supervisory …
The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago, …
by confoundedinterest17 Under President Biden, inflation has soared and The Federal Reserve claims that they want to extinguish the inflation fire by tightening monetary policy … resulting in rising mortgage rates. Under Biden, mortgage purchase applications are DOWN -41.5% while …
Even before you start looking for your new home — whether buying your first or your forever home — you need to know what you can afford. Further, it really helps your negotiating position as a buyer if you already …
by Fast_Championship_R Title says it all. Just looking at the current market and where rates are going is a recipe for disaster. Last few years they had between 2-3X regular refinance volume. Leaving a large pool of borrowers who will …
The Small Business Administration is not taking action against its partner lenders that issued billions of dollars in fraudulent Paycheck Protection Program forgivable loans, Just the News has learned. Congress appropriated almost $1 trillion in forgivable PPP loans to assist …
by Martin Armstrong The post-pandemic real estate frenzy led to mortgage lenders issuing more money last year than ever before. According to records, mortgage lenders in the US issued $1.6 trillion in purchase loans in 2021, an increase from $1.48 …
Across the advanced economies, central banks have rightly prioritized maintaining financial stability and supporting the real economy over fighting inflation with interest-rate hikes. But with financial fragility rife and public and private leverage at all-time highs, their next big test …
via Zerohedge: Almost ten years after the Great Recession ended, online lenders in the U.S. including LendingClub, Kabbage, and Avant are preparing for an economic slowdown by reviewing their risk exposure, reported Reuters. The U.S. economy stalled in the last six months, …
via dw: A major upheaval is underway in China’s peer-to-peer (P2P) finance sector after numerous cases of fraud and negligence. As loans helped finance cars and property, could the crisis worsen the country’s economic slowdown? It’s not a great time to …
via businessinsider: The US housing market took a dark turn in 2018 as homebuying fell off a cliff and mortgage lenders saw a steep decline in applications, originations, and profits. Interest rates are partly to blame for the slide in housing, …
via @lebas_janney: Two banks, $C and $JPM have reported increases in loan loss provisions/credit costs. They’re preparing for the credit downturn, even if they don’t say so outright. On the plus side, $WFC followed up with a pretty benign credit story …
(Reuters) – The top lenders of Toys ‘R’ Us have decided to cancel the bankruptcy auction of its brand name and other intellectual property assets and instead plan to revive the Toys ‘R’ Us and Babies ‘R’ Us brand names, …
by John Rubino You’d think the previous decade’s housing bust would still be fresh in the minds of mortgage lenders, if no one else. But apparently not. One of the drivers of that bubble was the emergence of private label …
by John Rubino One of the hallmarks of late-stage bubbles is a shift of power from lenders to borrowers. As asset prices soar and interest rates plunge it becomes harder to generate a decent yield on bonds and other fixed …