Spreading the truth. Empowering the people.
via mishtalk Here we go again. The mortgage lending industry seeks to eliminate debt-to-income rules for home buyers. At the peak of every boom comes one final act of repetitive stupidity. … Read more
Wow, that was fast: In default is a $650 million portion of a $2 billion loan package, signed in 2018. By Wolf Richter for WOLF STREET. “20 Times Square,” a newly built tower … Read more
A $45,000 LOAN FOR A $27,000 RIDE: More Borrowers Are Going Underwater on Car Loans. John Schricker took out a loan to buy a car in 2017. Then he took … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Cash running low. Brick & mortar meltdown for landlords. Shares annihilated. Ascena Retail Group – which operated 3,519 stores of the brands Dressbarn, Ann Taylor, Loft, … Read more
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 … Read more
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 … Read more
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 … Read more
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 … Read more
(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 … Read more
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 … Read more
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 … Read more