WeWork is renegotiating leases in an effort to reduce costs. In a 2021 commercial MBS from JPMorgan Chase, the monthly lease payment dropped by 25% and cash reserves in the deal are dwindling.
Moody’s Investors Service said performance for student loan ABS is seeing issues as a result of public policy moves around student loan debt and a resumption of payments after a several-year pause.
Originations of home equity lines of credit and closed-end second liens declined somewhat in the third quarter. Home price appreciation was offset by rising interest rates. (Includes three data tables.)
The Financial Stability Oversight Council’s annual report included four recommendations to address concerns about risks from nonbank mortgage servicers.
Nonbanks regained market share among the top 100 mortgage producers in the third quarter despite a small decline in volume. First-lien lending at small banks and credit unions was up. (Includes two data tables.)
Housing industry trade groups are getting behind bipartisan legislation in the Senate which would prohibit consumer reporting companies from selling consumers’ contact information when they apply for a mortgage.
Community Home Lenders of America has sent a letter to federal mortgage regulators urging them to look into the potential mortgage financing fallout from the court ruling in Sitzer/Burnett v. NAR.
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