Matt O’Hara The past several rating actions and closings show where private-label mortgage credit is growing fastest. Home equity extraction, through lines of credit and second liens, persists, while non-qualified mortgages deals lengthen what’s been a record run. Processing Content Borrowers sitting on 3% mortgages won’t refinance to extract equity, so originators are routing that […]
Home equity, non-QM deals dominate summer RMBS Read More »
US sales of existing homes fell to a three-month low in July as elevated prices and mortgage rates continued to weigh on the housing market. Processing Content Contract closings decreased 1.7% in July to an annualized rate of 4.06 million, according to National Association of Realtors figures released Tuesday. That was in line with the
Previously owned home sales decline to three-month low Read More »
Seventy percent of general contractors and subcontractors consistently face late payments, costing the construction industry nearly 300 billion dollars last year. In today’s economy, GCs and subcontractors are already working on incredibly thin margins. Without cash coming in when planned, there is a ripple effect to their business, from a delay in purchasing materials to
Late Payments Stall Construction Projects and Cash Flow Read More »