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 »
Late Monday afternoon, a judge dealt a blow to New York City Mayor Zohran Mamdani’s plan to charge a so-called pied-à-terre tax on vacant second homes owned by wealthy non-residents. Wayne Ozzi, a Staten Island judge, issued an emergency pause on implementing the tax. Ozzi sided with homeowners who sued the city Friday. They did
Judge pauses NYC pied a terre tax rollout, luxury rentals jump Read More »