A report from the Telegraph. "Almost half of America’s 4,800 banks are already burning through their capital buffers. They may not have to mark all losses to market under US accounting rules but that does not make them solvent. Somebody…
A report from the Daily Mail. "In his three-minute call, Vishal Garg CEO of mortgage lender Better.com Vishal Garg, said that the 'market has changed' - meaning savage cuts to the $7 billion company's workforce were needed to avert disaster.…
A report from Geek Wire. "Redfin’s revenue jumped 121% to $471 million, and its net loss widened to $27.9 million from $6.6 million a year earlier. Redfin CEO Glenn Kelman also addressed the dynamics prompting Redfin to focus on growth…
A report from the Philadelphia Inquirer in Pennsylvania. "Economic uncertainty during the pandemic has led banks to tighten their lending standards. The supply of mortgage credit has fallen by more than 30% from February to June, according to the Mortgage…
A report from the Wall Street Journal. "Mark Calabria, who heads the Federal Housing Finance Agency, is resisting pleas for help from lenders seeking relief as millions of Americans stop payments on their home loans, sending tremors through the $11…
A report from the Los Angeles Times in California. "The Southern California median home price barely budged in May, a sign that the housing market remains soft despite a sustained drop in borrowing costs. In May, there were nearly 12%…
A report from the Denver Post in Colorado. "Price declines are becoming much more widespread. A year ago, an unlucky seven Denver area ZIP codes failed to register annual home price increases in the first quarter, according to the DMAR…
A report from the Los Angeles Daily News in California. "Home sales in the San Fernando Valley hit a record low last month, even as sellers continued to flood the housing market, according to the Southland Regional Association of Realtors.…
A report from the Los Angeles Daily News in California. "The San Fernando Valley’s real estate market pendulum is swinging toward home buyers, leaving sellers on the other end cautious these days, according to experts. 'Buyers now have way more negotiating…
A report from the Los Angeles Daily News in California. "The housing market continues to be slightly friendlier for buyers in the San Fernando Valley compared to earlier in the year as more homes come on the market and sales…