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Capital Markets Today

Oct 27, 2020

As the nation struggles to get back to some type normalcy, the reality is that we will see further shutdowns as we head into the winter months.   It’s impossible to forecast the full economic and financial impact of the pandemic, but we do know that many people are unlikely to return to normal work and economic...


Oct 25, 2020

In the past few months millions of people have lost their jobs and we have seen the most rapid spike in unemployment in history.  This is not your typical unemployment event and the way the government reports the unemployment rate may not have caught up with the new economy.

Welcome to Capital Markets Today.  I am...


Jul 9, 2020

The latest long-term mortgage default projections from many analyst is now hovering around 7%.   This number will be bifurcated by loan product with FHA loans seeing the bulk of the defaults.  However, this number is pure projection and the long term number will depend on

  • Expiration of the supplemental unemployment...


May 22, 2020

For distressed debt buyers, it could be the calm before the storm.  Some deals are floating about with investors pricing them as a sort of reconnaissance exercise to determine the bid/ask levels.

The first wave to hit was leveraged lenders, but most expect a sharp increase in deal flow by the 3rd or 4th quarter...


Apr 16, 2020

In just a matter of days, origination of alternative loans, known as “non-QM lending,” came to an abrupt halt.  Non-QM investors worry about risk in an economy shaken by COVID-19 and have stopped buying new loans.

Non-QM lenders now have loans sitting in their pipeline with no buyers.  This creates a problem for...