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In an opinion piece published by MarketWatch , the president of the nation's third largest non-bank lender says institutions such as his could find themselves in a tough situation should liquidity dry up. So tough, in fact, it could endanger the entire financial system. Sanjiv Das, CEO of Caliber Home Loans, says rising home prices which have made owning a home less affordable has also made life difficult for mortgage lenders. Originations have fallen, and after lenders reduce costs then "they are faced with the decision of whether to lower margins or credit standards . A "race to the bottom" such as occurred before the housing crisis isn't the only danger Das sees. Another is liquidity risk, the inability of a firm to meet short-term financial obligations such as a payroll. This risk is particularly
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Housing News
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In an opinion piece published by MarketWatch , the president of the nation's third largest non-bank lender says institutions such as his could find themselves in a tough situation should liquidity dry up. So tough, in fact, it could endanger the enti... (read more) |
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Housing News
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Homeowners are and should be proud of their homes, but that often leads them to think it has a higher value than does an appraiser and the difference between the two opinions increased significantly in March. Quicken Loans says the gap in its Home Pr... (read more) |
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Rob Chrisman
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M&A grab current headlines (Freedom buying JG Wentworth’s mortgage biz being the latest) but it’s hard to put the past behind us, as an industry, when the past continues to grab them as well. “GE to pay $1.5 billion U.S. fine ov... (read more) |
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MBS Commentary
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Ah China... the US financial market's scapegoat of choice for many a swing that has nothing to do with China (with a few big, notable exceptions). Last Friday brought the biggest day of bond market weakness we've seen in a while and Chi... (read more) |
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Mortgage Rate Watch
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Mortgage rates rose fairly quickly on Friday, depending on the lender and the scenario. Bonds (which dictate mortgage rates and interest rates in general) weakened overnight on a variety of foreign and domestic data. While we can't necessarily be sur... (read more) |
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MBS Commentary
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The domestic bond market woke up this morning to find itself pushed up against the same ceiling that had offered a friendly bounce late last week. Between now and then, we've seen solid enough progress to reinforce that ceiling, but now it is c... (read more) |
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