Review Mortgage Lenders

1st Point Lending

Honda Track Day @ Sepang - 1st attempt

This is officially my first track day but hopefully won't be the last. I learn the line mostly from onboard videos I found in YouTube lol ...

New data points to slowing in new mortgage lending growth in SA

Slowing year-on-year growth, and month-on-month decline, hints at near term growth slowdown for new mortgage lending, says FNB’s property sector strategist, John Loos.

The South African Reserve Bank published its leading business cycle indicator for August on Tuesday (23 October), which is a good measure of the direction of the economic growth cycle. Its growth direction is not only useful as a leading indicator of near term economic growth direction, but also often as an indicator of where new mortgage lending is going in the near future, Loos said.

The August leading indicator showed a second consecutive month of month-on-month decline, to the tune of -0.5%, and the second consecutive month of year-on-year growth slowing, from +5.1% in June to 1.5% two months later.

This recent slowing comes after a year-on-year growth acceleration from late-2017 up to June 2018, FNB said.

Both global and domestic economic factors were responsible for the month-on-month decline, the lender said.

Wells Fargo plays it safe with 1st post-crisis RMBS

Wells Fargo’s first private-label mortgage securitization since the financial crisis doesn’t break any new ground — and that’s probably the point.

The $441.25 million transaction, which was launched Wednesday, is backed by very high-quality collateral, likely a mix of conforming loans from high-cost markets and jumbo loans, according to rating agency presale reports. The borrowers have strong credit profiles, low leverage and large liquid reserves. All of the loans pay fixed rates of interest, most have terms of 30 years, and all were originated in-house. They are seasoned an average of 17 months.

It comes two months after the bank reached a $2.09 billion settlement with the Justice Department stemming from mortgage bonds sold to investors before the financial crisis using faulty information about borrowers’ incomes.

Unlike the loans that were the subject of the settlement, the credit quality of the collateral for Wells Fargo’s new deal is not in doubt; due diligence has been performed on all 660 loans and found no evidence of material defects, according to Fitch Ratings.

At what point will China stop lending the U.S. money?

At present, the U.S debt to the Chinese government is quickly approaching $1 trillion in treasury bills. At what point will China decide that the U.S. cannot pay them back in full, and stop buying treasury bills?


When they start buy more of the stuff the make themselves and no longer need a trade surplus to make their economy grow so do not need to fiddle with the exchange rate to keep their stuff cheap when priced in $. The time may be coming soon.