0 minute readBanks are boosting efforts to sell distressed US home loans, according to two buyers of the debt. Lenders have sought bids on about $10bn of troubled mortgages in recent months, more than in all of 2008 and 2009, and probably disposed of about $3bn of those, Jon Daurio, chief executive officer of Kondaur Capital Corp., said Monday during a panel discussion at the Mortgage Bankers Association conference in New York.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio