Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
In 2023, despite aggressive predictions of a near-term recession, the economy remained relatively steady. This resulted in an uneven year for restructuring. Substantial money has been raised in the private credit markets and...more
A number of factors have combined to cause an almost “perfect storm” for commercial real estate distress. The COVID-19 pandemic led to a rise in remote and hybrid work, increasing vacancy rates and decreasing property values....more
The U.S. commercial real estate market, valued at $20 trillion in 2021 by some estimates, touches nearly every facet of urban and suburban dwellers’ lives – from where they live (multi-family housing or apartment buildings)...more
HEADLINES - -Rising interest rates and reduced refinancing options are increasing the likelihood of restructuring and financial distress in the next 12 months -Cov-lite debt packages have given borrowers breathing...more
In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Mortgage industry. So, what happened in 2022?...more
Mining & metals companies can take advantage of low prices in the leveraged finance markets to manage their liabilities amid the expected recession. The current economic environment creates opportunities for the mining &...more
Inflation, rising gas prices, and global unrest continue to dominate the news. Economic uncertainty continues to grow, and the impact of these concerns runs deep, affecting individuals, families, and businesses alike. In...more
Looking at the current picture, 60 percent of respondents globally say that the aviation finance sector does not have enough capital and liquidity. Meanwhile, 32 percent believe that the sector has just the right amount of...more
Debt markets warm to issuers from a broader range of sectors, maintaining high levels of refinancing activity - The surge in refinancing activity across leveraged loan and high yield bond markets through H1 2021 looks set...more
Abundant liquidity, a red-hot refinancing market and improving credit ratings combined through the first half of 2021 to limit defaults and ease any near-term pressure on the balance sheets of US borrowers. Borrowers...more
CFPB Amends Mortgage Rule to Protect Borrowers Affected by COVID-19 The CFPB issued a final rule to amend its Regulation X—which implements the Real Estate Settlement Procedures Act—to assist home mortgage loan borrowers...more
On April 21, 2021, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will extend certain loan origination flexibilities, including alternative appraisals on purchase and rate-term refinance...more
COVID-19 ushered in a volatile economic climate that has made it difficult for many companies to meet their debt obligations. These companies may soon face a lender demanding repayment of debt that the company cannot pay....more
Refinancing activity has proven an attractive option amid COVID-19 disruption, with borrowers in good standing seeking to extend maturities and take advantage of low interest rates - Refinancing issuance across high yield...more
El lunes 19 de octubre de 2020, la Cámara de Diputados en México aprobó el proyecto de dictamen que reforma la Ley de Disciplina Financiera de las Entidades Federativas y los Municipios. La intención de dicha reforma es...more
Morrisey, Other AGs Reach $330 Million Agreement with Student Loan Company - "West Virginia Attorney General Patrick Morrisey and 47 other attorneys general have reached a $330 million, multistate agreement with a student...more
In a House Select Subcommittee meeting on Tuesday, Treasury Secretary Steven Mnuchin called for more Congressional action to provide coronavirus relief and promised a White House initiative to protect renters from eviction....more
In the News. The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking to create a new category of “seasoned” qualified mortgages; the Securities and Exchange Commission’s (SEC) Office of...more
The Federal Reserve continues to roll out multiple measures to strengthen the economy during the COVID-19 pandemic. Many of these measures are intended to buffer the housing market, which is affected by broader macroeconomic...more
Due to the current economic downturn, many corporations (Borrowers) may find themselves in financial difficulty and need to refinance their existing debt obligations with creditors (Lenders). Such Borrowers may be able to...more
The new measures seek to overcome the expected high rate of insolvency, refinancing, and corporate disputes arising from the COVID-19 crisis. The Spanish government approved Royal Decree-Law 16/2020 on 28 April, which...more
Managing Borrower Expectations - In the immediate term, most Lenders are considering modifications that offer (usually on request only and subject to normal underwriting and credit review) a 60–90 day deferral of payments...more
With the likely increased borrowings or refinancing of debt as a result of the COVID-19 crisis, multinational companies should consider the impact of changes in U.S. tax law made in 2018. As a result of these changes, U.S....more