Rob Chrisman Capital markets: dissecting the bank failure ___________________________________________________ The collapse of Silicon Valley Bank, attributed to a social media driven run on deposits, has triggered extreme volatility in the Treasury and mortgage-backed security markets, resulting in the most turbulent period since the global financial crisis and in doubling of daily trading volume. Market functioning has held up, but market participants say the turmoil has raised concern about a potential financial accident. Citigroup CEO Jane Fraser has warned that banks and regulators face new challenges in dealing with liquidity issues, as the rise of mobile apps to manage money has accelerated the pace of such events. “It’s a complete game… Read More
Continue ReadingBest Housing Markets for Growth and Stability – 2023 Edition
Shared from SmartAsset 3/23
Continue ReadingWill the FHFA kill the mortgage industry?
May 4, 2020 Housingwire.com In today’s Daily Download episode, HW+ Managing Editor Brena Nath covers a PULSE article from former Mortgage Bankers Association President David Stevens, discussing how the Federal Housing Finance Agency’s actions have resulted in significant credit contraction for the mortgage industry. In his HousingWire PULSE article, Stevens says: It is now over one month since the CARES Act was passed, creating a blanket forbearance option for all borrowers in a GSE, FHFA, VA, or USDA loan to skip six to 12 months of payments. Legislation established by Congress with the intent of calming concerns of homeowners across the country has thrust an entirely new credit availability contraction over the entire nation. Because of the rush to pass legislation,… Read More
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